Solar lighting loans
The rural areas are more affected by power cuts and the rural households have to spend their time without basic minimum electric light in the night. The product is designed to benefit rural houses who wish to have solar light in their homes and get rid of from the difficulties of regular power cuts.
Eligibility
Members of the SHG Group can avail General purpose loan once
Quantum of loan
The maximum loan amount under the scheme is Rs.4000/- and depends on the model of the solar light that is chosen for their home and cash flow of the household.
Loan tenure
The maximum loan tenure will be 12 months repayable in monthly instalments
Interest rate
• Loan is with interest rate of 24%
• Interest is not compounded and on reducing balance.
