Bank of Baroda PM Surya Ghar Loan: Rate, Limit and How to Apply
Reviewed by: WeCredit Research Team
Bank of Baroda lends up to Rs. 6 lakh to a household for a grid-connected rooftop solar system under PM Surya Ghar. Up to Rs. 2 lakh it shows a rate of 6.00% a year, with nil processing fee, a maximum tenure of 120 months and a margin of 10%.
Quick answer: you apply for the central subsidy on the national portal, pmsuryaghar.gov.in, and for the loan with the bank. WeCredit does not sanction government scheme loans. Bank of Baroda decides your loan, so confirm the current rate and terms on the bank’s PM Surya Ghar page before you apply.
Status note: A Ministry of New and Renewable Energy release of 28 July 2026 shows the scheme running, with a 2026-27 budget estimate of Rs. 22,000 crore. The release states no end date, and Bank of Baroda shows its rates as present rates without a date. Check the official portal and the bank before you apply.
Bank of Baroda PM Surya Ghar Loan at a Glance
| Item | What the bank states |
|---|---|
| Purpose | Grid-connected rooftop solar for residential use |
| Maximum loan | Rs. 6 lakh |
| Financing | Up to 90% of project cost |
| Margin (your share) | 10% up to Rs. 2 lakh; 20% above Rs. 2 lakh up to Rs. 6 lakh |
| Interest rate | 6.00% a year “at present” up to Rs. 2 lakh; above that, as per the Baroda Home Loan, presently starting from 8.15% linked to CIBIL score |
| Tenure | Up to 120 months |
| Processing fee | Nil |
| Foreclosure charges | None |
| Subsidy mentioned | Up to Rs. 78,000 under MNRE guidelines |
| Helpline | 1800 5700 and 1800 5000 (toll free) |
Stamp duty applies as per the rules of your state government. The bank offers floating and fixed rate options. If you want the subsidy tables and how the national scheme works, read our PM Surya Ghar subsidy rules. This page covers only the Bank of Baroda loan.
Who Can Apply (Eligibility)
- Resident individuals, applying singly or jointly, who are salaried or earn from business, profession or agriculture.
- You must own the residential property, or hold terrace rights if you live in a flat.
- Age from 21 to 75 years, with rules that depend on the loan size (see the table below).
- The system must be household rooftop solar. Industrial, commercial and other consumers, and government or semi-government bodies, are excluded.
- The solar quotation must come from a vendor empanelled by your electricity distribution company (DISCOM).
| Condition | Loan up to Rs. 2 lakh | Above Rs. 2 lakh to Rs. 6 lakh |
|---|---|---|
| Income document | Not required | Required (see documents) |
| Employment or business history | Employment and agriculturist conditions do not apply | At least 1 year salaried; at least 2 years non-salaried |
| Age | Up to 65, with the loan fully repaid before you turn 70. At 65 to 75, a close relative must be a co-applicant, with repayment within 10 years and before the applicant or co-applicant turns 75 | The overall limit of 21 to 75 years applies |
| Margin | 10% | 20% |
Documents You Need
- KYC documents of the applicant and any co-applicant.
- Your latest electricity bill.
- The digital approval letter issued through the JanSamarth portal.
- The solar system quotation from a DISCOM-empanelled vendor.
- For loans above Rs. 2 lakh, salaried applicants: salary slips for the last 3 months plus Form 16 or ITR.
- For loans above Rs. 2 lakh, non-salaried applicants: ITR for the last two years.
- For loans above Rs. 2 lakh, agriculturists: the latest income certificate from the local competent revenue authority.
- For loans above Rs. 2 lakh: six months of bank statements showing salary or business credits.
The bank may ask for other documents case by case.
How to Apply: Step by Step
- Register on pmsuryaghar.gov.in with the details linked to your electricity connection. The Ministry says the scheme is open to all residential consumers with a grid-connected DISCOM connection.
- Get the quotation from a DISCOM-empanelled vendor.
- Choose the loan on the bank’s page. The bank lists an “Apply Now” link that goes to the national portal, or you can express interest through the Bank of Baroda form and wait for the bank to contact you.
- Submit KYC, the electricity bill, the JanSamarth approval letter and, for larger loans, the income documents.
- The bank appraises the application and decides on sanction. Check the sanction letter for the rate, tenure and margin.
- The vendor installs the system, and you follow the portal’s steps for the subsidy.
You can also download the application form, locate a branch or find a business correspondent through the bank’s page. From abroad, the bank lists +91 79-66296009 (24×7).
Worked Example: What the EMI Looks Like
These figures use the rates the bank shows and assume the loan runs the full 120 months. Your own rate depends on the bank’s rate on your sanction date and, above Rs. 2 lakh, on your CIBIL score.
| Case | Loan | Rate used | EMI (approx.) | Total repaid (approx.) | Interest (approx.) |
|---|---|---|---|---|---|
| Small system | Rs. 2,00,000 | 6.00% | Rs. 2,220 | Rs. 2,66,449 | Rs. 66,449 |
| Maximum loan | Rs. 6,00,000 | 8.15% (assumed at the starting rate) | Rs. 7,327 | Rs. 8,79,276 | Rs. 2,79,276 |
Margin example: if the project costs Rs. 2,00,000, the 10% margin is Rs. 20,000 and the bank can finance up to Rs. 1,80,000. To judge what your own system may cost, see our solar panel installation cost breakdown. If it costs Rs. 5,00,000, the 20% margin is Rs. 1,00,000 and the loan can be up to Rs. 4,00,000.
Is This Loan Right for You? Checklist
- The house or terrace is yours, or you hold terrace rights.
- Your connection is residential and your vendor is DISCOM-empanelled.
- You can pay the margin from your own money.
- You are between 21 and 75, and your repayment ends before the age limit for your loan size.
- For a loan above Rs. 2 lakh, you have the income papers and enough employment or business history.
Why an Application Gets Stuck, and the Fix
| Problem | Why it matters | Fix |
|---|---|---|
| Quotation from a vendor outside the DISCOM list | The bank requires a DISCOM-empanelled vendor | Pick a vendor from the portal list first |
| No JanSamarth approval letter | It is a listed document | Complete the portal step and keep the letter ready |
| Commercial or industrial connection | Only household rooftop projects are covered | Confirm your connection type on the electricity bill |
| Ownership not proven | You must own the property or hold terrace rights | Keep ownership or terrace-rights proof ready |
| Short employment or business history on a larger loan | One year (salaried) or two years (non-salaried) is needed above Rs. 2 lakh | Apply for a smaller system, up to Rs. 2 lakh, if you qualify |
| Age beyond the limit | Repayment must end before 70 or 75, depending on the case | Add a close relative as co-applicant if you are 65 to 75 and borrowing up to Rs. 2 lakh |
Bank Loan, Portal Subsidy and Other Options Compared
| Bank of Baroda loan up to Rs. 2 lakh | Bank of Baroda loan above Rs. 2 lakh | Loan described in the 28 July 2026 PIB release | |
|---|---|---|---|
| Rate | 6.00% a year at present | Per Baroda Home Loan, presently from 8.15%, linked to CIBIL score | Repo rate plus 50 basis points, 5.75% a year for the present |
| Margin | 10% | 20% | Not stated |
| Tenure | Up to 120 months | Up to 120 months | 10 years |
| Lender | Bank of Baroda | Bank of Baroda | Nationalised banks |
The Ministry release describes a collateral-free loan from nationalised banks at 5.75% for the present, while Bank of Baroda shows 6.00% on its own page. The bank sets its rate, so ask for the rate it will apply on your sanction date.
Common Mistakes
- Buying a system from a vendor who is not on the DISCOM list.
- Assuming the 6.00% rate applies to the whole loan. It is shown only up to Rs. 2 lakh.
- Forgetting the margin. The bank finances up to 90%, not the full cost.
- Treating the subsidy as part of the loan. The subsidy comes from the central scheme through the portal.
Other Bank of Baroda and Government Options
This loan is one of many routes to government-backed credit. To see how it sits next to schemes for businesses, farmers and students, browse the government loan schemes hub.
Frequently Asked Questions
How much can I borrow from Bank of Baroda for rooftop solar?
Up to Rs. 6 lakh, financed up to 90% of the project cost, with a margin of 10% up to Rs. 2 lakh and 20% above that.
What is the interest rate?
The bank shows 6.00% a year at present for loans up to Rs. 2 lakh. Above Rs. 2 lakh it follows the Baroda Home Loan, presently starting from 8.15% linked to CIBIL score. The bank shows these as present rates, so ask for the rate it will apply on your sanction date.
Are there processing or foreclosure charges?
The bank lists nil processing fee and no foreclosure charges. Stamp duty applies as per your state.
What documents do I need?
KYC, your latest electricity bill and the JanSamarth approval letter. Loans above Rs. 2 lakh also need income papers and six months of bank statements.
Do I need an income proof for a small loan?
Not for loans up to Rs. 2 lakh, according to the bank’s page.
How much subsidy can I get?
The bank mentions a subsidy of up to Rs. 78,000 under Ministry of New and Renewable Energy guidelines. The national portal handles the subsidy, so check it for the amount for your system size.
Is the PM Surya Ghar scheme still open?
A Ministry release of 28 July 2026 reports 39,72,447 systems installed covering 48,02,717 households as on 22 July 2026, with Rs. 22,000 crore budgeted for 2026-27. The release states no end date, so check the portal for the latest notices.
Does WeCredit sanction this loan?
No. WeCredit does not sanction government scheme loans. Bank of Baroda decides the loan, and you should confirm details on the official sources.
