Your details
Banks offer 10 years (120 months).
Estimated monthly EMI
After your subsidy is credited
Loan summary
How the PM Surya Ghar subsidy is actually calculated
Most pages tell you the subsidy is “₹30,000 for 1 KW, ₹60,000 for 2 KW, ₹78,000 for 3 KW and above.” That is correct, but it leaves out the part that confuses almost everybody: most real rooftop systems are not a whole number of kilowatts.
Solar panels come in fixed wattages, so your actual system size is whatever the panel combination adds up to. Six 580-watt panels is 3.48 KW. Four 540-watt panels is 2.16 KW. Almost nobody ends up with exactly 2 or exactly 3.
The portal does not round these figures up or down. It pays on an exact pro-rata basis, using three simple slabs:
- Up to 2 KW — ₹30,000 per KW
- From 2 KW to 3 KW — ₹18,000 per extra KW
- Above 3 KW — nothing further; ₹78,000 is the ceiling
So a 2.16 KW system works out like this:
2 KW × ₹30,000 = ₹60,000
0.16 KW × ₹18,000 = ₹2,880
Total subsidy = ₹62,880
Subsidy for common real system sizes
| System size | Typical panel setup | Subsidy |
|---|---|---|
| 1.00 KW | — | ₹30,000 |
| 2.00 KW | — | ₹60,000 |
| 2.16 KW | 540 W × 4 | ₹62,880 |
| 2.32 KW | 580 W × 4 | ₹65,760 |
| 2.50 KW | — | ₹69,000 |
| 3.00 KW | — | ₹78,000 |
| 3.48 KW | 580 W × 6 | ₹78,000 |
| 4.64 KW | 580 W × 8 | ₹78,000 |
| 4.96 KW | 620 W × 8 | ₹78,000 |
Notice that everything from 3 KW upward receives the same ₹78,000. Going from 3.48 KW to 4.96 KW gets you more electricity, but not one rupee more subsidy.
Your EMI does not drop on day one
The subsidy only arrives after your system is installed and your net meter has been commissioned and inspected. In practice that is commonly ~45 to 90 days after installation. Bank of India's own process document allows roughly 30 days from the subsidy claim being submitted to the money landing — and that is on top of the installation and inspection timeline before it.
Until then you pay the full original EMI. Once the subsidy is credited, the bank recalculates your EMI downward over the remaining tenure.
This is why the calculator above shows you two figures side by side — “EMI now” and “EMI after subsidy”. The second one is what you pay for most of the loan, but not at the start.
The subsidy is never counted as your down payment
People often assume the subsidy can cover their margin money, so they won't need much cash upfront. It cannot. UCO Bank puts it bluntly in their documentation: “Subsidy will not be treated as margin.”
You must arrange the full down payment yourself, before the loan is disbursed. The subsidy arrives months later and reduces what you owe — it does not reduce what you need on day one.
The ₹2 lakh line — the most important number in your loan
If you remember one thing from this page, make it this one. There is a hard threshold at a loan amount of ₹2,00,000, and crossing it changes two things at once, both against you.
| Loan up to ₹2,00,000 | Loan above ₹2,00,000 | |
|---|---|---|
| Minimum down payment | 10% | 20% |
| Interest rate (SBI example) | ~6.00% | ~8.15% |
What that actually costs you
Take a system quoted at ₹2,60,000, on a 10-year loan from SBI. Two ways to structure it:
Borrow ₹2,08,000 (pay ₹52,000 down, the 20% minimum)
Rate ~8.15% → EMI ~₹2,540
Borrow ₹2,00,000 (pay ₹60,000 down)
Rate ~6.00% → EMI ~₹2,220
Paying ₹8,000 more upfront lowers the EMI by about ₹320 every month. Over ten years that is roughly ₹38,000 less paid to the bank — for ₹8,000 found once. (Both figures are before the subsidy is credited, so they compare fairly.)
This is not a theoretical trick. In real applications, customers regularly pay a large amount out of pocket specifically to keep the loan under ₹2,00,000 — including cases of someone putting well over ₹1,50,000 cash into a system so the loan lands just below the line.
If your loan amount comes out just above ₹2,00,000, try lowering it to exactly ₹2,00,000 in the calculator above and compare. It is very often worth finding the difference.
Banks offering PM Surya Ghar solar loans in West Bengal
These are the banks this calculator covers, with the rates it uses. All of them lend on a reducing-balance basis over a 10-year (120 month) tenure.
| Bank | Up to ₹2L | Above ₹2L | Max loan |
|---|---|---|---|
| State Bank of India | ~6.00% | ~8.15% | ₹6,00,000 |
| Punjab National Bank | ~5.75% | ~7.50% | ₹6,00,000 |
| Indian Bank | ~6.75% | ~7.00% | ₹6,00,000 |
| Union Bank of India | ~5.75% | Not offered | ₹2,00,000 |
| UCO Bank | ~5.75% | Home loan rate + 1.00% | ₹6,00,000 |
| Bank of India | ~5.75% | ~8.35% | ₹6,00,000 |
| Canara Bank | ~6.00% | ~7.00% | ₹6,00,000 |
| Bank of Baroda | ~5.75% | Home loan rate + 1.00% | ₹6,00,000 |
Union Bank of India is capped at ₹2,00,000. Unlike the others, there is no higher tier at all — if you need more than that, you need a different bank or a much larger down payment.
UCO Bank and Bank of Baroda work differently above ₹2 lakh. Instead of a fixed rate, they charge your existing home loan rate with that bank plus 1%. If you don't have a home loan with them, they use their own current home loan rate as the starting point. That is why the calculator asks you an extra question when you pick either of those two.
Rates move. Always confirm the current figure with the branch before you commit.
Frequently asked questions
How long does the PM Surya Ghar subsidy take to arrive?
Commonly 45 to 90 days after installation, and the clock only really starts once your net meter is commissioned and the inspection is done. Delays are most often caused by the net meter stage, not by the subsidy itself.
Will my EMI reduce immediately after installation?
No. You pay the full EMI until the subsidy is actually credited. After that the bank recalculates the EMI downward over the remaining tenure, automatically.
Can the subsidy be used as my down payment?
No. The down payment must be arranged by you before disbursement. UCO Bank states it directly: “Subsidy will not be treated as margin.”
How much down payment do I need for a solar loan?
At least 10% if your loan is ₹2,00,000 or less, and at least 20% if it is above ₹2,00,000. You can always pay more than the minimum — and as shown above, doing so is often worth it.
What is the tenure for a PM Surya Ghar solar loan?
10 years (120 months) across the banks covered here. It is not something you choose.
Why is my subsidy less than ₹78,000 when I ordered a 3 KW system?
Almost certainly because the panels physically installed add up to slightly less than 3 KW. Subsidy is paid on measured installed capacity, pro-rata — so 2.88 KW pays less than 3.00 KW. Check the panel wattage and count on your quotation.
Is a bigger system worth it for the subsidy?
Not for the subsidy — it is capped at ₹78,000 at 3 KW, so a 5 KW system receives exactly the same amount as a 3 KW one. A bigger system may still be worth it for the electricity it generates, but not for subsidy reasons.
Is this calculator's EMI the exact amount I will pay?
No — it is an estimate for planning. Your actual EMI, processing fees and eligibility are decided by the bank at approval. Rates are also floating, so they can change during the loan.