{"id":2747,"date":"2023-02-22T11:40:20","date_gmt":"2023-02-22T11:40:20","guid":{"rendered":"https:\/\/solarsquare.in\/blog\/?p=2747"},"modified":"2024-09-30T20:41:30","modified_gmt":"2024-09-30T20:41:30","slug":"financing-by-solarsquare-5-year-60-month-emi-scheme-launched","status":"publish","type":"post","link":"https:\/\/staging.solarsquare.in\/sse-blog\/financing-by-solarsquare-5-year-60-month-emi-scheme-launched\/","title":{"rendered":"Financing by SolarSquare: 5-year (60-month) EMI scheme Launched"},"content":{"rendered":"\n

Will Craig<\/em><\/strong> once said, “Success comes in direct proportion to the number of people you help<\/em><\/strong>“, and we couldn’t agree more!<\/p>\n\n\n\n

Many people pin their hopes on financing options like EMIs and loans to install solar systems. It’s not that installing solar is bone-breaking, but at the same time, it does require marginally over a lakh of rupees. <\/p>\n\n\n\n

Although the return on investment is in tens of lakhs of rupees over decades, the initial investment of a lakh or so does matter.  <\/p>\n\n\n\n

And being fans of Mr Craig that we are, we truly believe that we are a people\u2019s company: of the people, by the people, for the people. Hence, we took it upon ourselves to provide easy financing options. <\/p>\n\n\n\n

After the two superhero EMI options we already offer \u2013 an interest-free 6-month EMI and a 36-month EMI \u2013 we\u2019ve come up with the mother of all solar financing options, our 5-year EMI scheme<\/em><\/strong>. <\/p>\n\n\n\n

It might make you wonder how an EMI of 5 years is good news<\/em><\/strong>, right? Well, we can explain. If you\u2019ve been meaning to install a solar system, grab your cup of coffee because this guide will be a delightful read. Take a plunge!<\/p>\n\n\n\n

<\/span>Why so much fuss about SolarSquare\u2019s 5-year EMI?<\/strong><\/span><\/h2>\n\n\n\n

SolarSquare\u2019s 5-year EMI can be paid in 60 easy instalments<\/em><\/strong> spread across 60 months (5 years). Some of the star features that make this EMI truly easy have been listed below.<\/p>\n\n\n\n

#1. Starting price is super affordable<\/strong><\/h3>\n\n\n\n
    \n
  • Approx \u20b92200\/ month for a 2 KW solar system\u00a0<\/li>\n\n\n\n
  • Approx \u20b94200\/ month for a 3 KW solar system<\/li>\n<\/ul>\n\n\n\n

    #2. The cost of instalment will not be an extra burden<\/strong><\/h3>\n\n\n\n

    Here\u2019s the funny thing about solar systems \u2013 they steal your electricity bills instead of stealing from your wallet. <\/p>\n\n\n\n

    Let\u2019s explain the maths of solar financing in terms of our new EMI scheme in basic numbers. <\/p>\n\n\n\n

    Anchor points:<\/em><\/strong><\/p>\n\n\n\n

      \n
    • Suppose your power consumption is roughly 330-350 units per month<\/li>\n\n\n\n
    • A 3 KW solar system produces around 360 units of electricity per month<\/li>\n\n\n\n
    • The government provides a subsidy of \u20b914,588\/ KW for systems up to 3 KW\u00a0<\/li>\n\n\n\n
    • The subsidy offered for a 3 KW solar system would be \u20b943,764<\/li>\n\n\n\n
    • The cost of a 3 KW solar system ranges between \u20b91,80,000 to \u20b92,40,000<\/li>\n\n\n\n
    • The cost of a 3 KW solar system after subsidy would be \u20b91,36,236 to \u20b91,96,236<\/li>\n<\/ul>\n\n\n\n

      Here\u2019s how things flow:<\/p>\n\n\n\n

      Before<\/strong> installing solar<\/strong>, your monthly<\/strong> electricity bill must have been at least \u20b93500<\/strong><\/p>\n\n\n\n

      \u21d3<\/p>\n\n\n\n

      After<\/strong> installing a 3 KW solar system<\/strong>, your bill can reduce by 90%<\/strong><\/p>\n\n\n\n

      \u21d3<\/p>\n\n\n\n

      You can save about<\/strong> \u20b93000\/ month<\/strong> <\/p>\n\n\n\n

      \u21d3<\/p>\n\n\n\n

      The monthly instalment<\/strong> of our 5-year EMI for a 3 KW system starts at approx \u20b94200<\/strong><\/p>\n\n\n\n

      It means <\/strong>the <\/em>money you would have spent on your electricity bill<\/em><\/strong> had you not had a solar system can now be used to pay your monthly EMI instalment<\/em><\/strong>. <\/p>\n\n\n\n

      <\/span>Eligibility criteria to get solar financing at SolarSquare<\/strong><\/span><\/h2>\n\n\n\n

      Before anything else, we sell transparency \u2013 to avoid any ugly surprises later on, we\u2019re unveiling simple eligibility criteria that we do follow. Have a look.<\/p>\n\n\n\n

        \n
      • Your ideal credit score should be greater than 650<\/li>\n\n\n\n
      • Bank default history is a deal breaker<\/li>\n\n\n\n
      • You should be employed to get a solar loan<\/li>\n\n\n\n
      • You should be a business owner with a monthly income of at least \u20b920,000<\/li>\n\n\n\n
      • Your age should be less than 55<\/li>\n\n\n\n
      • The sum of existing EMIs and the new ones should be less than 60% of your monthly income<\/li>\n\n\n\n
      • You need to pay a 30% down payment<\/li>\n\n\n\n
      • We finance the remaining 70% of the entire installation cost<\/li>\n<\/ul>\n\n\n\n

        Does all this mean we do not offer EMI services to retired people? Well, we absolutely do. <\/p>\n\n\n\n

        If<\/em><\/strong> <\/strong>you\u2019re a retired person<\/em><\/strong> who wants to apply for our 5-year EMI scheme, you can get the EMI in the name of a blood relative<\/em><\/strong>. <\/p>\n\n\n\n

        <\/span>Documents required to apply for our 5-year EMI scheme<\/strong><\/span><\/h2>\n\n\n\n

        We\u2019re here to make things simpler. Nothing with us is complicated. The documents we need won\u2019t bury you under a pile of papers. We need very general documents. <\/p>\n\n\n\n

          \n
        • Your income proof\/ salary slip\u00a0<\/li>\n\n\n\n
        • Your PAN card<\/li>\n\n\n\n
        • Your Aadhaar card<\/li>\n\n\n\n
        • Your ITR statement<\/li>\n<\/ul>\n\n\n\n

          That\u2019s all!<\/p>\n\n\n\n

          <\/span>Conclusion<\/strong><\/span><\/h2>\n\n\n\n

          Since its launch, SolarSquare\u2019s 5-year EMI has become the most popular service we offer. It has been helping many customers to switch to solar finally. <\/p>\n\n\n\n

          If it was an upfront payment holding you back, now is the time to break free from the trap of high electricity bills and install a rooftop solar system. <\/p>\n\n\n\n

          Also, we keep providing easy financing options because solar is a one-time investment. <\/p>\n","protected":false},"excerpt":{"rendered":"

          Will Craig once said, “Success comes in direct proportion to the number of people...","protected":false},"author":10,"featured_media":3575,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[794,7],"tags":[],"category-capp":[],"class_list":["post-2747","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-watts-the-deal","category-rooftop-solar-loan"],"acf":{"publish_on_capp":false},"yoast_head":"\nFinancing by SolarSquare: 5-year (60-month) EMI scheme Launched - Rooftop Solar for your home and more | SolarSquare<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Financing by SolarSquare: 5-year (60-month) EMI scheme Launched - Rooftop Solar for your home and more | SolarSquare\" \/>\n<meta property=\"og:description\" content=\"Will Craig once said, “Success comes in direct proportion to the number of people you help“, and we couldn’t agree more! 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