Public Sector Banks Sanction Rs 10,907 Crore For Over 5.79 Lakh Solar Loans Under PM Surya Ghar Yojana

Public Sector Banks (PSBs) have approved over 5.79 lakh loan applications totaling Rs 10,907 crore under the PM Surya Ghar Muft Bijli Yojana (PMSGMBY) as of September 2025, boosting access to affordable rooftop solar systems for households across India. The scheme aims to promote clean energy by providing financial support for solar installations.

The PM Surya Ghar Muft Bijli Yojana (PMSGMBY) is a transformative government initiative launched to provide households with affordable access to clean solar energy through rooftop solar systems. By offering financial support and streamlined loan processes, it aims to promote sustainable energy adoption across India.

Affordable and Accessible Solar Financing

To make loans more accessible, the scheme offers collateral-free loans up to Rs 2 lakh at low interest rates, with a six-month moratorium period, extended repayment terms aligned with electricity cost savings, and minimal borrower contribution. 

The loan process has been streamlined through the JanSamarth Portal, integrated with pmsuryaghar.gov.in, enabling a fully digital application system for faster processing and better user experience.

Addition of Co-Applicants And No Capacity Limits

Recent updates to the scheme include the addition of co-applicants to widen eligibility, removal of capacity-based restrictions, and simplified documentation, making it easier for more households to benefit. These changes were introduced based on user feedback to enhance the scheme’s reach.

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Collaborative Efforts Drive Success

The Department of Financial Services, in collaboration with the Ministry of New and Renewable Energy, regularly monitors the scheme’s progress.

Coordination with State Level Bankers Committees and Lead District Managers has further accelerated loan approvals and improved outreach, driving the adoption of solar energy nationwide.

This milestone reflects the government’s commitment to expanding clean energy access and supporting sustainable development through innovative financing solutions.