Solar loan & finance options in Kerala
Pay-as-you-save. Most Kerala homeowners finance their rooftop solar with a low-interest bank loan whose monthly EMI is less than the KSEB bill it replaces — turning solar into a net-positive monthly cash flow from day one.
- 7–10.5%Interest rate
- up to 10 yrTenure
- None ≤ ₹2LCollateral
- up to 100%Funding
Banks offering rooftop solar loans in Kerala
• SBI — Surya Ghar loan, 7% p.a. up to ₹2 lakh collateral-free for residential • Canara Bank — Solar rooftop loan, 8.5–10% p.a., up to ₹6 lakh • Union Bank of India — Surya Shakti, 7.5% p.a. • Federal Bank — Federal Green Home, popular across Kerala • Kerala Bank & co-operative banks — local processing, often fastest in Kottayam & Kochi
Indicative EMI on common system sizes
3 kW (₹1.02 L after subsidy) — ~₹1,450/month over 7 years at 8.5% 5 kW (₹2.07 L after subsidy) — ~₹2,950/month over 7 years at 8.5% 10 kW (₹4.62 L after subsidy) — ~₹6,600/month over 7 years at 8.5% Compare against your current KSEB bill — most customers see EMI < bill from month one.
How Mastride helps you finance
• Pre-checked bank-format quotation with technical specs banks accept • Document checklist & application support • Coordination with PM Surya Ghar subsidy so loan = post-subsidy cost only • Disbursement aligned with our project milestones
Frequently asked questions
+Can I finance my rooftop solar in Kerala?
Yes. PSU and private banks offer rooftop-solar loans at 7–10.5% with tenures up to 10 years. SBI Surya Ghar, Canara, Union Bank, and Federal Bank are commonly used by Kerala homeowners.
+How much loan can I get for a 3 kW system?
After the ₹78,000 PM Surya Ghar subsidy, a 3 kW system costs about ₹1.02 lakh. Banks typically fund 90–100% of this with no collateral up to ₹2 lakh.
+What documents are needed?
Aadhaar, PAN, KSEB bill, last 3–6 months of bank statements, ITR or salary slip, and the Mastride quotation. We help you prepare the full file.
+Is the EMI lower than my KSEB bill?
For most Kerala homes, yes. A 3 kW EMI runs ₹1,400–1,800/month while it offsets a ₹2,500–4,000/month bill — net positive cash flow from month one.