Solar loan interest rates in Rajasthan

Rooftop solar becomes easier to budget for when the upfront cost is spread into monthly instalments. Your down payment, repayment period, subsidy adjustment and total interest all affect what you eventually pay. This guide compares published bank rates for Rajasthan homeowners and explains how to use Suntask’s existing calculator to explore your budget.

Solar loan interest rates in Rajasthan

Rates checked: 13 October 2026. The figures below were displayed on official bank websites. Confirm your applicable rate, eligibility and charges before accepting a loan. This comparison covers residential rooftop solar.

The ₹2 lakh threshold matters: a slightly larger loan can fall into a different pricing slab. If you are close to the threshold, ask for two repayment schedules—one with your planned contribution and another with a higher upfront payment. Compare the full cost while keeping enough household cash available.

Rajasthan Gramin Bank solar loan

Rajasthan Gramin Bank lists RGB Surya Ghar for rooftop solar, at 7% up to ₹2 lakh and 9% above ₹2 lakh up to ₹6 lakh. Include your local RGB branch when comparing finance options. Check RGB’s published rate schedule.

The rate table does not establish the full loan terms. Ask the branch to confirm the required contribution, available tenure, fees, credit criteria, subsidy routing and early repayment conditions. Do not assume that another bank’s conditions also apply to RGB.

SBI and Canara Bank options

SBI lists loans up to ₹6 lakh, a minimum contribution of 10% of project cost and repayment up to 10 years including moratorium. Its scheme lists nil processing fees and no prepayment penalty. SBI scheme details.

Canara Bank’s rate schedule lists 5.75% up to ₹2 lakh and 8.75% above ₹2 lakh under its rooftop solar scheme. These rates are linked to its repo-linked lending benchmark, so check the applicable rate when applying. Canara Bank rate schedule.

Solar loan EMI examples

For a ₹2 lakh loan, the following monthly reducing-balance examples show the effect of interest and tenure. They are calculations, not bank offers.

A longer term lowers the EMI but increases interest. At 7%, extending this example from five to ten years reduces the EMI by about ₹1,638 while increasing total interest from ₹37,614 to ₹78,660. Choose a term that fits your household budget and compare the total repayment.

Use Suntask’s solar EMI calculator

1. Open the solar EMI calculator. The link selects the EMI tab directly; Hindi is available inside the tool.
2. Enter your monthly bill and choose the system size. Use your assessed roof and consumption needs to confirm the proposed capacity.
3. Adjust Upfront Pay and the loan tenure. Replace an illustrative system price with your quotation where appropriate, checking whether GST and other costs are included.
4. Expand “Adjust to a sanction letter or quote” and enter the bank’s quoted interest rates. Check the subsidy timing and repayment assumptions as well.
5. Compare the result with your bank’s repayment schedule. The tool’s rounding, subsidy adjustment and timing assumptions can produce different figures from the simple table above.

How subsidy affects your loan

The standard central support is ₹30,000 per kW for the first 2 kW and ₹18,000 for the next 1 kW, capped at ₹78,000 for an individual household. Government scheme guidance. Read our PM Surya Ghar guide for the scheme context.

Do not treat a future subsidy as cash already available for your down payment. It depends on installation, verification and claim completion. SBI specifies credit to the loan account; ask your lender how the credit changes the repayment schedule. SBI subsidy terms.

For illustration, a ₹2,20,000 project with a 10% contribution means ₹22,000 upfront and ₹1,98,000 initial borrowing. Subtracting an approved ₹78,000 subsidy gives ₹1,20,000 before intervening interest and repayments. This is a financing example, not a system quotation or a forecast of the actual balance on the subsidy-credit date.

Documents to prepare

• Bank-accepted identity and address documents; PAN where required.
• Electricity bill and consumer number; rooftop ownership or usage-right evidence where required.
• Installer quotation, system details and required feasibility documents.
• Bank statements and income evidence according to the lender and loan size.
• Relevant portal registration and application details.

Obtain the lender’s exact checklist. For example, Bank of Baroda’s standalone scheme waives income documents up to ₹2 lakh but requires category-specific evidence above that amount. This does not establish RGB’s requirements. Bank of Baroda document guidance.

How to apply in Rajasthan

1. Start with your bill and a roof assessment. Obtain an itemised quotation before deciding how much to borrow.
2. Register on the PM Surya Ghar portal and select Rajasthan and the DISCOM shown on your electricity bill.
3. Compare bank offers and complete the lender’s current application route. Confirm RGB’s process with its branch.
4. Coordinate sanction and disbursement with the applicable feasibility, registered-vendor installation, net-metering and inspection steps.
5. Complete the subsidy claim after the required commissioning process. Verify the credit and obtain an updated loan statement.

The official process covers registration, applicable approvals, installation, net-metering, inspection and subsidy submission. Follow the instructions shown for your application. Government application guidance.

Compare the full borrowing cost

• Compare the same project cost, borrowing amount and tenure across lenders. Ask for the total repayment, including applicable fees and insurance.
• Ask how floating-rate changes affect EMI or tenure, and whether interest accrues during a moratorium.
• Confirm subsidy routing and whether the credit lowers EMI or shortens the term.
• Check part-payment and early-closure terms before accepting the offer.

For your household budget, compare EMI + remaining electricity bill + maintenance allowance against current spending. Use your actual tariff and a site-specific generation estimate. An EMI below today’s bill does not by itself establish savings. Start with the home solar assessment and then compare finance for the suitable system.

Part of The Rajasthan Rooftop Solar Guide