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Loan for Solar Panel: Guide to buying Solar System on EMI in Uttar Pradesh
April 5, 2021

In the context of development and improvement, people have ‘too many’ options to make the idea successful. 

If one is thinking of improving their home – he/she can get an easy home improvement loan or credit from the institution.

If you’re planning to install a solar panel system into your home, the fact is that you can do it so easily with the help of credit or home improvement loan.

One can even buy solar systems on EMI from the solar brand partners. Tata Solar Panel, Luminous, Microtek, Sun Power, and many more brands are there which provide the best Solar System.

 

A Glance at the Types of Solar System

Majorly and mostly, the people of India go for either on-grid or off-grid solar panel connection. However, they have the option to go as well for hybrid connection but that is considered most expensive.

1. On-Grid Solar System

on grid solar system

A Solar Power System that is  connected  to the  utility  grid  (electricity pole) is called  on-grid connection. This means the solar system component  is connected  to the outside electric grid.

 

2. Off-Grid Solar System

off grid solar system

A solar system connection that is not connected with a utility grid  (electric  pole) is called off grid connection. Generally, this type of connection is performing better than on-grid because it allows you to totally go off the grid and prompt you to utilize solar generated energy all-time.

A solar accredited user is independent to choose any one mode of connection for their home. Both solar system connections are best in their respective arena. However, both come with their own fatigue disadvantages.

 

Also Read: Advantages and Disadvantages of Solar Panel System

 

It is light of the fact that solar system investment falls in the category of high-investment. For instance, somewhere to install a 3kW solar panel system it cost approx. 2 lakh rupee (excluding subsidy).

And most people find it hard to afford it. In order to restrain such problems, there are many institutions that provide easy financing for the solar systems. Luckily, nowadays, some solar system partners and distributors offer solar products on easy EMI which means you can buy solar products such as solar panels, solar inverter, and other solar components paying monthly, without disturbing your expenses.

 

How can I buy Solar Systems on EMI?

Due to technology invasion and innovation, people can buy solar panels without credit cards too.

Read this article to know more about it.

A) Credit Card

How to buy a solar panel system using a credit card?

To buy solar products you must have these banks credit cards, such as Kotak Mahindra Bank, ICICI, Axis Bank, Induslnd Bank, HSBC, Corporation Bank, Standard Chartered Bank, American Bank, HDFC bank, City Bank, SBI Bank, and Yes Bank. This benefits you to easily shop solar energy products for home and business.

Solar panel on credit cards

Step 1: Must have credit card (prescribed above)

Step 2: Visit or contact the relevant authorities, then choose any product which you want to buy. While making payment, pay through credit card.

Step 3: Choose flexible EMI plans as per your needs i.e. 3 months or 6 months.

Step 4: Happy shopping with zero Interest charges!

 

B) Bajaj Finserv

For those who don’t have credit cards, one can shop using Bajaj Finserv financing scheme. It is totally different from a credit card.

Solar panels on Bajaj Finserv

It’s good if you have, otherwise, you have to make a Bajaj Finserv Card to shop for solar systems for home. Contact the nearest Bajaj Authorized Shop and make this card.

 

C) Home Credit/Loan

Last but not the least, you may also buy a solar panel or install a fully-integrated solar system on your home using ‘Home Credit (Loan)’ and to make this possible, you should contact your nearest bank branch. Below are some important steps, you have to follow:

Install Solar System using Home Credit

Step 1: Firstly, you will require Quotation of any confided solar company in Uttar Pradesh

Step 2: Secondly, visit Nearest Bank with Quotation and Valid Id Proof, (for example, Source of Income, Aadhar Card, PAN card, Cancelled Check, Photos, and so on)

Step 3: After that, the Bank will check all reports and after confirmation, the Bank will move the add up to the organization.

 

Now many of you will be confused or penetrate in accepting such a system? Right

Shopping for solar products considering these three systems is fully secured, even, the government of India encourages buying and installation of solar systems.

Just believe and realize that “Buying Solar Panel isn’t an installment, it is an investment”

Contact Om Solar Solutions for solar panel installation, rooftop solar system analysis, solar maintenance, and more. Call: +91 9919 9909 44, 9919 9909 45 | Email: hello@omsolar.in

 

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