Take an initiative towards green-environment with Saraswat Bank Solar Urja Loan by installing rooftop solar projects (Off-grid and Grid connected) in industrial as well as household premises. The installation will help you save energy, increase savings by reducing electricity bills and help environment as it derives clean, pure energy from the sun.


To install rooftop solar projects in industrial as well as household premises.


New and existing Individual salaried customers / Industrial & Commercial organizations / Proprietorship / Partnership firms / Private Limited companies / Educational Institutions / Hospital & Medical facilities / Hotels and Resorts

Limit of loan:

Term loan upto Rs.50.00 lakh


30% of the total project cost 

Basis of Advance:

1. Based on income
For Salaried Individual:
Upto 40 times of (avg of 3 months) net monthly salary

For Businessman:
4 times of Avg. Gross Cash Accruals for last 3 years less all existing borrowings

2. Based on asset value
70% of cost of asset to be purchased

(1) or (2) whichever is lower
For Individual, family member’s income can be clubbed.

Rate of interest:

Floating @10.00% p.a. (PLR - 4)

Processing Fee:

0.1% of loan amount
(No other charges such as CIBIL/ other credit agency, FI & CERSAI.)

Repayment period:

Maximum 7 years including moratorium

Primary Security:

Exclusive first charge to be created on rooftop panel assets to be purchased.

Collateral Security:

  1. Upto Rs.10 lakh - Nil
  2. Above Rs.10 lakh - 25% of loan amount

Personal Guarantee:

  1. For individual Borrower: One guarantor + Spouse Guarantee
  2. In case of Pvt Ltd company, personal guarantee of all the Directors
  3. In case of Partnerships firms: Personal guarantee of all the partners should be sought to ensure that all partners are party to the advance procured from the Bank


2.50% of loan amount, Maximum Rs.25000/-

Documents required:

  1. Prescribed loan application form
  2. KYC documents of individual / firm / company / promoters.
  3. Latest Electricity Bill paid copy in the name of applicant.
  4. In case of salaried person, salary slip for last 3 months and bank statement for last 3 months / ITR / Form 16 of latest one year.
  5. In case of businessman, last 3 years’ profit & loss & balance sheet, ITR copies of last 3 years, bank statement of business account for last 3 months.
  6. Latest 12 months bank statement.
  7. Basic project details along with Project cost including breakup into major heads.
  8. All other documents as per bank's prescribed norms.

Mile yahan, Dono Jahan

True to its new tag line, "Mile Yahan Dono Jahan", Saraswat Bank is committed to bridging the gap between technology and tradition by bringing to its customers the best of both worlds.

Keeping tradition intact and embracing technology, the Bank has matched strides with India's digital revolution by offering various digital banking services designed to make banking more easy and convenient like mobile banking, internet banking, international VISA EMV and RuPay chip cards, etc. Simultaneously, through its emphasis on personalized attention, the Bank has maintained its personal touch with customers. Agility of the small bank with the ability of the large bank has been Saraswat Bank's enduring heritage new.

Contact Saraswat Bank

Corporate Office
Saraswat Co-operative Bank Limited
Ekanath Thakur Bhawan 953, Appasaheb Marathe Marg, Prabhadevi. Mumbai- 400 025
Tel: [+91] (022) 6600 5555
Email: corporatecenter@saraswatbank.com