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Solar Panel Loans & Rooftop Financing | Go Green with Ruloans
Get solar panel loans with low interest rates. Ruloans makes solar rooftop loans & green energy financing easy and affordable for homes & businesses.
Solar Rooftop Loan Eligibility Criteria
Before applying for a solar panel loan, it’s essential to determine whether you meet the required eligibility criteria. This step ensures a higher chance of approval and smooth processing. Here’s how you can check your eligibility for a solar loan:
Average Bank Balance Program
- Maximum Loan Limit = LTV or eligible loan amount based on maximum allowed EMI, whichever is lower.
- Maximum EMI = 0.50 x ABB (ABB = Average bank balance in operative account of the customer for last 12 months).
- Apply industry net margin on the turnover.
GST Program
- Latest 12 months' GST turnover
- Apply industry net margin on the turnover.
- Calculate DSCR considering existing and proposed obligations.
- Eligible EMI at DSCR 1.2 to be considered.
Saving with Renewable Energy
- Collect latest 3 months of electricity bills.
- Calculate average energy consumption in units and amount.
- Calculate energy savings with solar panel installation for the same consumption.
- Add back the savings for a higher loan eligibility.
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