ENA Sectors 2024-04-23 16:48:25 <p><span style="font-size:14px"><strong>New Delhi, Apr 23 (KNN)</strong> Tata Power Solar Systems Limited (TPSSL), a wholly-owned subsidiary of Tata Power Renewable Energy Limited (TPREL), has announced a strategic partnership with Indian Bank aimed at enhancing the adoption of solar rooftop systems among residential consumers.</span></p> <p><span style="font-size:14px">This collaboration is geared towards facilitating financing solutions under the widely acclaimed Pradhan Mantri Surya Ghar Muft Bijli Yojana scheme, catering to installations up to 3 KW.</span></p> <p><span style="font-size:14px">Additionally, the partnership seeks to extend support for installations ranging from 3 to 10 KW under the regular scheme.</span></p> <p><span style="font-size:14px">Under the framework of the PM Surya Ghar Muft Bijli Yojana initiative, residential consumers have the opportunity to avail loans up to Rs 2 lakh at an annual interest rate of 7 per cent, in accordance with government regulations.</span></p> <p><span style="font-size:14px">With a nominal margin money requirement of 10 per cent and collateral-free financing, homeowners can seamlessly embark on their solar journey. Furthermore, the repayment tenure extends up to 10 years, providing flexibility and convenience to borrowers.</span></p> <p><span style="font-size:14px">For installations exceeding 3 KW up to 10 KW, TPSSL and Indian Bank offer a tailored financing solution designed to meet the diverse needs of homeowners.</span></p> <p><span style="font-size:14px">Eligible applicants can access loans up to Rs 6 lakh, with a margin money requirement of 20 per cent. Competitive interest rates ranging from 8.4 to 10.8 per cent per annum ensure attractive financing options for consumers.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 37519 https://knnindia.co.in/news/newsdetails/sectors/tata-power-solar-partners-with-indian-bank-to-boost-solar-rooftop-adoption 2024-04-23 16:48:25 knnindia.co.in