Estimate the monthly instalment, total interest and total repayment on a rooftop solar loan, including any processing fee.
How to use it. Enter the loan amount you will actually borrow (the system price minus the margin money you pay yourself), the annual interest rate from the bank's sanction letter, the tenure and any processing fee. The calculator uses the standard reducing-balance EMI formula: EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the principal, r the monthly rate and n the number of months.
Context. Public sector banks offer collateral-free loans for rooftop solar under PM Surya Ghar at the RBI repo rate plus 0.5 percentage points for loans up to ₹2 lakh, with tenures of up to 10 years; parliamentary replies in March 2025 gave 6.75%, reports in mid-2026 cited 5.75% after repo cuts, and with the repo rate at 5.50% in October 2026 it works out to 6.00%. Larger loans carry each bank's own, higher rates. Use the rate in your own sanction letter. The subsidy is not paid to the vendor: after commissioning it goes to your loan account if the loan is linked on the national portal (any excess to your bank account), otherwise to your bank account, where you can choose to prepay.
Worked example (illustrative). ₹1,60,000 at 6.00% for 7 years gives an EMI of about ₹2,337 and total interest of about ₹36,300. If the ₹78,000 CFA is used to prepay part of the loan once it arrives, the total interest falls to roughly ₹9,800.
Limits. It assumes a fixed rate and no prepayment. Floating-rate loans change when the repo rate moves.
Costs, Subsidy and 2026 Rules
How collateral-free rooftop solar loans under PM Surya Ghar work at public sector banks, repo-linked interest, margin money, documents and worked EMI examples.
