‘Only 5% down payment’: JK Bank collaborates with KPDCL to offer simple solar loans
In a significant move to promote solar rooftop installations under the PM Surya Ghar scheme, Jammu Kashmir Bank (J&K Bank) has partnered with Kashmir Power Distribution Corporation Limited (KPDCL) to offer collateral-free, low-interest loans to residential customers for solar installations up to 10 kWp.
Under this partnership, J&K Bank has released guidelines for covering the full upfront cost of solar rooftop systems through MNRE’s flagship scheme, which offers a 60% subsidy for plants up to 3 kWp. This collaboration is expected to encourage more households to adopt solar energy.
KPDCL, in a statement, welcomed the bank’s support, encouraging consumers registered on the National Portal to also apply on the Jan Samarth portal or visit J&K Bank branches to access these loa...