Rooftop Solar Loan Scheme

1

Purpose

Loan to individuals for the purchase and installation of 3 KW to 10 KW Roof Top Solar Photovoltaic (PV) System on the roof top of Independent House/Villa.

2

Eligibility

All new & existing borrowers of HL & NHL Products, who are salaried/professionals/SENP/NRI/pensioner & have adequate repayment capacity supported by Proof viz, Salary slips/Form 16 and Income Tax Returns.

3

Sanctioning Authority

Branch Incharge in the cadre of Manager & above

4

Quantum of loan

Minimum ₹ 1 lacs & Maximum ₹ 10 lacs subject to repayment capacity.

5

LCR

1. • Up to 90% of the Cost of the Roof Top Solar Photovoltaic (PV) System for Total Loan Exposure* < Rs.30 lacs
2. • Up to 80% of the Cost of the Roof Top Solar Photovoltaic (PV) System for Total Loan Exposure* > Rs.30 lacs and < Rs.75.00 lacs
3. • Up to 75% of the Cost of the Roof Top Solar Photovoltaic (PV) System for Total Loan Exposure* > Rs.75.00 lac

*Total Loan Exposure: Proposed Loan Amount for the purchase and installation of Roof Top Solar System + existing outstanding liability on the property being financed.

6

Margin

1. • For Total Loan Exposure* up to Rs.30 lacs - 10%.
2. • For Total Loan Exposure* above Rs.30 lacs and up to Rs.75 lacs - 20%.
3. • For Total Loan Exposure* above Rs.75 lacs - 25%.

No relaxation is permissible by any authority

7

Security

1. • Additional charge over the property being financed and Hypothecation of Assets created out of loan i.e. Solar Equipment.
2. • Collateral: on case to case basis.

8

Rate of Interest

Floating Rate of Interest:

Fixed Rate of Interest

9

Repayment

Maximum term up to 10 years' subject to the maximum age of 70 years of the eldest borrower whose income is considered for IIR purpose.

10

Processing Fees

Processing Charges:

1. • Nil PF, if loan is availed within 6 months of IHL sanctioned
2. • In all other cases PF of Rs. 2000/- Plus applicable GST.

11

Other Conditions

Processing Charges:

1. 1. Roof Top Solar Photovoltaic (PV) System to be purchased from approved dealer as per Ministry of New & Renewable Energy – Govt. of India
2. 2. Eligibility for existing Loan applicants,
   1. • Account should have a satisfactory track record of repayment of EMI's and there should not be any overdue in the loan A/c's
   2. • There should not be any pending RBIA/Audit observations in the account
   3. • Perfection of security should be available.
3. 3. Equipment should be insured to the full value of the equipment for the loan term and policy to be assigned in favour of CFHL.
4. 4. Loan disbursement should be made favouring approved dealer in line with the agreed terms & conditions of GST invoice bill raised, only after:
   1. • Completion of Building Superstructure & nearing completion stage
   2. • Ensuring perfection of the security.
5. 5. Branch Incharge / Staff in the cadre of Officer & above should record the installation progress in the PSIR along with Geo tag photo for each disbursement.
6. 6. Branch to ensure obtention of following documents in original from the approved dealer during the pre-sanction and post-sanction, loan process:
   1. • Quotation issued by the approved dealer in the name of our customer/s outlining product details, specifications, cost, installation address etc.,
   2. • GST Invoice Bill
   3. • Installation & End use Certificate confirming satisfactory working condition of system with due concurrence of our borrower/s.

12

Moratorium Period

4 Months