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Every bank uses the same reducing-balance EMI formula. Your monthly instalment is fixed for the full tenure — but the split between principal and interest changes month over month. In early years you pay more interest; later, more principal.
The amount you borrow after subsidies and any down payment. A ₹4 lakh solar system with ₹78k PM Surya Ghar subsidy and ₹0 down means a ₹3.22 lakh loan.
Annual interest divided by 12. At 9.5% p.a., your monthly rate is 0.7917%. Public sector banks typically offer 7.5–10.5% for solar loans.
Number of monthly instalments. A 5-year loan means 60 EMIs. Longer tenure lowers monthly EMI but raises total interest paid.
EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1). The calculator above applies this instantly as you move the sliders.
Starting interest rate
Max repayment tenure
Down payment options
Bank sanction turnaround
For most rooftops, monthly EMI is lower than the bill you were paying — you start saving from month one, not year five.
Preserve working capital. Pay in easy monthly instalments while the solar system pays for itself through DISCOM bill savings.
We handle documentation with SBI, PNB, Canara, HDFC, Axis and select NBFCs — you get the best rate without shopping around.
Interest rates shown are indicative — final rate depends on your credit profile, loan amount and lender. We’ll help you compare offers before you commit.
Quick answers about solar loans, EMI calculations and how financing works with Vermson.
Zero down payment options. 48-hour sanction. Free site survey included.
