Bank of Baroda’s PM-Surya Ghar Yojana-Composite loan provides a single loan package that finances both the purchase of a new home and the installation of a grid-connected rooftop solar system.
Available to individual borrowers, the scheme can fund up to 90% of the solar component at concessional interest rates. The composite structure simplifies paperwork, reduces lifetime energy expenditure for the homeowner, and advances the goal of wider residential adoption of clean power.
Bank of Baroda PM-Surya Ghar Yojana-Composite Loan Highlights
Here’s a quick overview of the key features—interest rates, loan amounts, and fees—so you can decide if the home loan is the right choice for you.
| Aspects | Highlights |
|---|---|
| Interest Rates | 6.50% p.a. onwards |
| Loan Amount | ₹50,000 – ₹6,00,000 |
| Tenure | 10 Years |
| Processing Fees | NA |
| Subsidy Amount | A subsidy of up to ₹78,000 is available under Ministry of New & Renewable Energy guidelines, Government of India. |
Suggested Read: Bank of Baroda Home Loan Interest Rates 2025
Bank of Baroda PM-Surya Ghar Yojana-Composite Loan Interest Rates
Check out the interest rates for home loan in 2025 to get an idea of your potential EMI and costs.
| Loan Amount | Interest Rate (p.a.)* |
|---|---|
| Up to ₹2 lakh | 6.50 % (current) |
| Above ₹2 lakh to ₹6 lakh | As per Baroda Home Loan Scheme — currently starts from 9.15 %, linked to CIBIL score |
Suggested Read: Home Loan Insurance for Green Homes
Bank of Baroda PM-Surya Ghar Yojana-Composite Loan Eligibility Criteria
Find out the basic eligibility requirements, such as age, income, and existing home loan status, before applying for a home loan.
| Criterion | Requirement |
|---|---|
| Who can apply? | Resident Indians, applying singly or jointly, who earn from salary, business, profession, or agriculture. |
| Linked loan | Must be taken along with a new Bank of Baroda Home Loan. |
| Minimum age | 21 years |
| Maximum age at loan maturity | – Salaried: up to official retirement age – Non-salaried: up to 65 years |
| If age limit is exceeded | Add a close relative as co-applicant to meet age criteria. |
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Bank of Baroda PM-Surya Ghar Yojana-Composite Loan Processing Fees
Bank of Baroda waives the entire processing fee on PM-Surya Ghar Yojana – Composite loans. Apply with zero upfront cost and keep more cash for your rooftop solar setup.
Suggested Read: How to Check PMAY Benificiary List?
Bank of Baroda PM-Surya Ghar Yojana-Composite Loan Other Fees and Charges
Be aware of any extra charges, such as prepayment penalties or overdue fees, that may apply to your home loan.
| Charge Type | Amount |
|---|---|
| Takeover of Home Loan | – Loans up to ₹20 lakh: 0.35% of the loan amount – Loans above ₹20 lakh: 0.40% of the loan amount – Maximum: ₹15,000 (Service tax applicable separately) |
| Prepayment Charges | Nil for all home loans |
| Inspection Charges | – First Post-Inspection: No charge – Second & Onwards: ₹100 + out-of-pocket and conveyance charges (per inspection) + GST |
| Legal Reports / Valuation Charges | Actual charges as per legal and valuation fees incurred |
| Conversion Charges (Fixed to Floating) | – One-time process – 0.50% per year of the residual loan period (maximum 2% of outstanding loan) + GST – Premature Closure Fee: 0.5% of balance outstanding per year (maximum 3%) |
| Conversion Charges (Floating to Fixed) | Not Available |
Suggested Read: PMAY Eligibility Criteria
Bank of Baroda PM-Surya Ghar Yojana-Composite Loan Documents Required
Ensure you have all the necessary documents ready, from identity proof to income statements, to make the home loan application process smooth.
General Documents
| Document Category | Details / Notes |
|---|---|
| Application Form & Photos | Duly filled and signed application form + 3 photographs |
| Proof of Identity | PAN Card (mandatory for loan amounts above ₹ 10 lakh) |
| Alternate ID Proofs | Any one: Driver’s Licence / Voter ID / Passport / Aadhaar Card |
| Proof of Residence | Any one: Driver’s Licence, Ration Card, Voter ID, Passport, Aadhaar Card, or Registered Rent Agreement |
| Previous Loan Evidence | Last 1-year loan a/c statement and sanction letter. (If the loan is from BoB, also provide Account No. & Cust ID) |
| Proof of Assets | Documents for LIC, NSC, KVP, Mutual Funds, Property, etc. |
| Assets & Liabilities Statement | Comprehensive current statement |
| ITR Verification Report | Latest Income-Tax-Return verification report |
Income Proof for Salaried
| Salaried Individuals – Required Income Documents |
|---|
| Latest 3 salary slips (plus 1 slip for each guarantor, if any) |
| Form 16 + ITR (past 1 year) |
| Employee ID card copy |
| Appointment / promotion / increment letter |
| 6-month salary-account statement(or simply BoB A/c No. if already banking with BoB) |
Income Proof for Self Employed
| Self-Employed / Professionals – Required Income Documents |
|---|
| Balance Sheet, Profit & Loss A/c, and income computation (last 2 years) |
| ITR + Form 26AS (last 2 years) |
| Business proof – Gumasta licence, registration certificate, GST/Service-Tax, etc. |
| Tax assessment / clearance orders, challans, TDS certificates (Form 16A) |
| Additional if Partnership / Pvt Ltd: |
| • Firm’s PAN & address proof |
| • MoA & AoA |
| • Audited results + ITR (last 2 years) |
| • Current A/c statement (last 1 year) |
Income Proof for Farmers/ Agriculturalists
| Farmers / Agriculturists – Required Income Documents |
|---|
| Income certificate from Talati / Gram Sevak / Village or Block Revenue Officer (previous 2 years) |
| Land-revenue records – Forms 6, 7/12, 8A |
| 12-month personal bank-statement |
Suggested Read: Investment Opportunities in Andheri’s Slum
Important Terms of Bank of Baroda PM-Surya Ghar Yojana-Composite Loan
| Eligibility Aspect | Requirement | Exemption for loans ≤ ₹2 lakh |
|---|---|---|
| Employment tenure (salaried) | Minimum 1 year of continuous service | Tenure proof not required |
| Business / professional tenure (non-salaried) | Minimum 2 years in practice | Tenure proof not required |
| Agriculturists’ income proof | Latest income certificate issued by local revenue authority | Certificate not required |
| Project scope | Financing limited to household rooftop solar systems; industrial, commercial, government & semi-government projects are ineligible | No exemption |
| Vendor requirement | Solar quotation must be issued by a DISCOM-empanelled vendor | No exemption |
Suggested Read: The Growth of Affordable Housing in India
How to Apply for Bank of Baroda PM-Surya Ghar Yojana-Composite Loan?
The application process is easy—simply fill in your details, upload the required documents, and get started on your loan.
- Visit the official Bank of Baroda website.
- Go to the Home Loans section and select “PM Surya Ghar Yojana – Composite.” Click “Apply.”
- Fill Out Personal Details
a. Enter your Full Name and Email ID in the provided fields.
b. Select your Preferred Branch, including State, City, and Address. - Upload Documents
Upload scanned copies of your KYC documents, income proofs, and property documents.
- Submit Application
a. Agree to the terms and conditions by ticking the box.
b. Click on ‘Submit’ to finalize your application.
Suggested Read: West Bengal Housing Scheme for All
Compare Top Banks Home Loan Interest Rates 2025
| Bank | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
|---|---|---|---|
| SBI Bank | 8.50% p.a. onwards | 8.5% p.a. onwards | 8.50% p.a. onwards |
| HDFC Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| LIC Bank | 8.50% – 10.35% p.a. | 8.50% – 10.55% p.a. | 8.50% – 10.75% p.a. |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| Kotak Mahindra Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| Punjab National Bank | 8.50% – 11.05% p.a. | 8.50% – 11.05% p.a. | 8.50% – 11.05% p.a. |
| Bank Of Baroda | 8.40% – 10.65% p.a. | 8.40% – 10.65% p.a. | 8.40% – 10.90% p.a. |
| Bajaj Housing Finance | 8.50% p.a. onwards | 8.50% p.a. onwards | 8.50% p.a. onwards |
| Axis Bank | 8.75%-10.30% p.a. | 8.75%-10.30% p.a. | 8.75%-10.30% p.a. |
| Bank of India | 8.40% p.a onwards | 8.40% p.a onwards | 8.40% p.a onwards |
| TATA Capital | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
Conclusion
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Frequently Asked Questions
It funds both your new house and a rooftop-solar system in one package, slashing paperwork and bundling a cheaper rate for the solar part.
Up to 90 % of the rooftop-solar quotation, provided the vendor is empanelled with your local DISCOM.
Yes—have a provisional property agreement and a vendor quotation ready; both are needed to lock in the sanction.
Submit your last three salary slips, Form 16 + one-year ITR, an ID card copy, and a six-month salary-account statement.
After installation and inspection, the subsidy is credited directly to your loan account, reducing the outstanding principal upfront.
With complete documents, the defence desk often sanctions within 7–10 working days and disburses after legal checks clear.
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