Get the estimated EMI you can have for solar power system. It is simple & easy, just need to fill the budget you are planning to spend or cost of your required solar power system & select your bank. An average cost of solar panels starts from Rs. 700 to 15,000 per module. If you don't know the complete solar system pricing, you can check solar system pricing from here.
EMI Calculator for Solar System helps you to calculate:
How to calculate solar panel emi?
How much does interest rate of solar panel emi?, etc.
EMI / Loan on Solar System Video
How to calculate Loan / EMI?
Here is a formula of EMI calculation:
For example, if you want to plan a 1KW Solar System with Battery and It's price is Rs. 95,000. First select Bank and EMI Plan, such as Bank is HDFC Bank and EMI Plan is 12 months.
Monthly EMI = Total Cost + (Total Cost * Interest Rate / No. of Month)
= 95,000 + (95,000 * 15% / 12)
= (95,000 + 14,250) / 12
= 9,104 INR.
Here is Monthly EMI = Rs. 9,104 per month*. This is approximate number, it can be vary depending on banks and emi plan.
Rooftop Solar Loan FAQs
What is Rooftop Solar Loan?
A Rooftop Solar loan is offered to the buyers who are willing to install solar panels in home. This loan assists you financially in buying the rooftop solar panel at an affordable and convenient rate.
Who is Eligible?
A home owner who wants to install solar panels more than two kilowatt solar systems in home, they are eligible for loan. An interested homeowner can visit nearby banks in his area.
What is the interest rate?
The interest rate of solar loan is average 10% to 15% yearly and It is based on the customer profile and loan providers. Your CIBIL profile will help you to build a good rapport and get an exciting interest rate.
How to Apply?
You can apply a rooftop solar loan in 4 quick and easy steps:
1. Contact to Rooftop Solar Company, (LOOM SOLAR)
2. Contact nearwise Banks in your area
3. Submit Solar Quotation of Private Limited Company, Income & Address Proof, etc.
4. Bank will verify all documentation, and release first 80% payment to solar provider's bank account at time of product purchase, second 15% payment on the time of submitting installation report and remaining 5% payment on final customer's noc certificate.
Important Information: This is an approximate numbers. For more information for better understanding ,You can also now enquire for a solar loan online. Visit https://www.loomsolar.com/ to apply now!