Mumbai-based Zoroastrian Bank has partnered with Tata Power Renewable Energy Limited, a leading player in India’s solar power sector and a subsidiary of The Tata Power Company Limited.
This collaboration ensures that applicants seeking financing for solar projects have access to high-quality solar products and expert installation services, along with customer-friendly, flexible financing options from Zoroastrian Bank, said Daljit Dogra, MD & CEO of the bank.
Zoroastrian Bank offers attractive interest rates and flexible financing options. For residential rooftop units, loans up to Rs 2 lakh are available at 7.99% p.a., with 90% financing of the total project cost. Notably, no income proof or collateral is required.
For larger residential and industrial units, loan amounts range from Rs 2 lakh to Rs 5 crore, with interest rates between 8.75% and 9.00% p.a. and up to 85% financing of the project cost. The loan tenure extends up to 7 years, including an initial moratorium period. Additionally, there are no processing or prepayment charges for loans up to Rs 2 lakh.
ZCBL also offers 100% financing if cash collaterals up to 25% are provided, while loans above Rs 5 crore will be considered on a case-to-case basis.
Dogra reaffirmed the bank’s commitment to sustainability and financial inclusivity, encouraging a transition to solar energy to help reduce electricity costs and carbon footprints.
