According to the Ministry of Finance, Public Sector Banks (PSBs) have given their approvals to over 5.79 lakh loan applications. Until September 2025, loans amount to Rs 10,907 crore under the PMSGMBY scheme.
The PM Surya Ghar Muft Bijli Yojana (PMSGMBY) has created a good buzz, arousing a lot of interest among citizens who intend to power their homes with clean and affordable solar energy. Under the scheme, the Centre will provide loans of up to Rs 2 lakh at a lower rate of just 6%. The loan is aimed at supporting applicants who seek to install a rooftop solar system. Under the scheme, beneficiaries can get loans of up to Rs 6 lakh at a rate similar to home loan interest rates.
According to the Ministry of Finance, Public Sector Banks (PSBs) have given their approvals to over 5.79 lakh loan applications. Until September 2025, loans amount to Rs 10,907 crore under the PMSGMBY scheme.
Currently, loans of up to Rs 2 lakh are available at an effective rate of 6 per cent. In order to get loans above Rs 2 lakh and up to Rs 6 lakh, one can get loans at the following rates:
Home Loan Customers: Interest rate remains the same as the Home Loan rate.
Non-Home Loan Customers: Interest rate will be the Home Loan rate + 100 bps.
The key benefits under this scheme are as follows:
- Under the scheme, a subsidy of Rs 30,000 per kW for up to 2 kW of solar rooftop installations is offered. Additionally, there is also the provision of an additional subsidy of Rs 18,000 per kW for additional capacity of up to 3 kW.
- One can avail a subsidy of Rs 78,000 for systems that are larger than 3 kW.
- There is no collateral required on loans up to Rs 2 lakh
- There is the provision of a 6-month moratorium from the date of disbursement.
- There are no prepayment charges, which gives greater flexibility.
- Reduced margin contribution required from the applicant, with a digital sanction process based on self-declaration.
- Simple documentation for hassle-free processing.
How to register on the PM Surya Ghar Portal and apply for loan
- Visit the PM Surya Ghar scheme’s official website at https://pmsuryaghar.gov.in/.
- On the website, find the consumer section and click on “Apply Now.” Alternatively, open the Login menu and select “Consumer Login.”
- Enter your registered consumer mobile number and the security captcha. Check the box confirming you have read the guidelines for the PM Surya Ghar Muft Bijli Yojana, and then click “Verify.”
- Enter the One-Time Password (OTP) you receive on your mobile phone via SMS, and then click “Login.”
- After logging in, enter your full profile details, including your name, email, address, state, district, and PIN code. Finally, click “Save.”
Once you have completed registration, click on ‘Apply for Loan’ on the JanSamarth portal.
