Solar Panel EMI & Financing Options India 2026
Updated March 2026 | Sri Ishaan Solar
Can't afford solar upfront? You don't have to. Multiple banks offer solar loans with EMIs lower than your current electricity bill.
Solar Loan Options
| Bank | Interest Rate | Tenure | Max Amount |
|---|---|---|---|
| SBI Surya Shakti | 7.5-8.5% | Up to 10 years | Rs 10 lakh |
| HDFC Solar Loan | 8-9% | Up to 7 years | Rs 15 lakh |
| Bank of Baroda | 7.5-8% | Up to 10 years | Rs 10 lakh |
| NBFC Partners | 9-12% | Up to 5 years | Rs 5 lakh |
EMI vs Electricity Bill Comparison
For a 3 kW system (after Rs 78,000 subsidy):
- Loan amount: Rs 1,40,000
- EMI (5 years, 8%): Rs 2,840/month
- Your current bill: Rs 3,000/month
- New bill after solar: Rs 200/month
- Net saving from Day 1: Rs 160/month (even while paying EMI!)
After EMI ends (year 5): Rs 2,800/month pure savings for 20+ more years
Zero Down Payment
With PM Surya Ghar subsidy + bank loan, many customers pay zero upfront. The subsidy covers the down payment, and EMI is less than the electricity bill.
We Help with Loan Processing
Sri Ishaan Solar partners with SBI and HDFC for solar loans. We handle the loan documentation alongside the installation.