Punjab National Bank Business Loan for Rooftop PV Solar Power Projects
This loan is designed to help businesses get the funds to execute Rooftop Photovoltaic Solar Power Projects. This is a need-based loan and the maximum loan amount sanctioned under this loan is decided by the bank on a case-to-case basis after carefully examining the application.
Featured of PNB Business Loan for Rooftop PV Solar Power Projects
Why this Loan?
- The Punjab National Bank Loan for Rooftop PV Solar Power Projects is the perfect corporate business loan to help businesses execute Rooftop Photovoltaic Solar Power Projects successfully
- The bank offers fund-based assistance in the form of term loans and working capital loans as well as non-fund based assistance in the form of Letter of Credit and Letter of Guarantee to eligible borrowers
Loan Amount
- This is a need-based loan and the maximum loan amount depends on the needs as well as the profile of the borrower. The loan amount is decided by the bank on a case-to-case basis
Interest
- The interest rate for Punjab National Bank Loans is defined as the sum of two factors, namely: one-year Marginal Cost of Funds based Lending Rate (MCLR) of PNB and Credit Risk Premium based on the risk rating of the borrower
- As of April 2020, the interest rate charged by the bank for this loan is not mentioned on the bank’s website. We suggest getting in touch with a bank representative to know the details
Repayment & Moratorium
- This loan must be repaid within 15 years including the moratorium period
- The moratorium period for this loan is 1 year after the first disbursement of loan or 4 months from Commercial Operation Date (COD), whichever is earlier
Security Needed
- The exclusive first charge on fixed assets related to the project
- Personal guarantee of proprietor, partner or director must also be obtained
Eligibility
- Sole proprietors, partnership firms, Limited Liability Partnerships (LLPs), Public Limited Companies, Private Limited Companies, Trusts, Associations, Non-Banking Finance Companies (NBFC) and Registered Societies are eligible for this loan
Borrower’s Contribution to Total Cost (Margin Money)
- The bank charges a minimum of 30% of the total loan amount as margin for this loan
Documents Needed for Individuals
- Loan Application Form duly filled and signed by the applicant and co-applicant, if any
- Two Passport Size Photographs of applicant and co-applicant
- Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card / PAN Card Issuing Letter is must
- Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
- Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Income/Banking Proof: Last 6 months Bank Account Statement of applicant and co-applicant, Loan Statement of Running Loans, Latest Closed Loan NOC, Net Worth of the applicant and co-applicant
- Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
Documents Needed for Proprietorship and Partnership Firms
- Loan Application Form duly filled and signed
- Partnership Deed and Partnership Registration Certificate
- ID Proof of the Firm: Firm PAN Card or PAN Issuing Letter
- Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Income Proof: CMA Data and Project Report, Debtors and Creditors Certificate, GST Return, Last 3 years ITR of applicant and co-applicant, Audited or CA Certified Computation of Income/Trading Account/Profit and Loss Account/Balance Sheet, Annual Audit Report and Tax Audit Report if audited, Form 16A if applicable, Net Worth of applicants, co-applicants and guarantors
- Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account
- Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
- Other Relevant Documents: Partnership’s Business Profile, Promoter/Guarantor’s Profile, Corporate Brochure, Business Experience Supporting Documents, Business References
Documents Needed for Private Limited and Public Limited Companies
- Application Form duly filled and signed
- Company ID Proof: Company’s PAN Card
- Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Business Proof: AOA and MOA, Company Incorporation Certificate, Business Commencement Certificate, Board Resolution, CA/CS verified Share Holding Pattern, ROC Annual Return, DIN Certificate, List of Directors on Company Letter Head, GST Number, Form 32 in case of Director Change
- Income Proof: CMA Data and Project Report, Last 3 Years ITR Acknowledgement copy of Company and all Directors, Last 3 Years Annual Credit Report or Tax Audit Report with Article 3CB, Article 2D, Article 3CD, TDS Certificate/Form 16A, Net Worth Certificate
- Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account
- Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
- Other Relevant Documents: Company’s Business Profile, Promoter/Guarantor’s Profile, Corporate Brochure, Business Experience Supporting Documents, Business References
Reference Facts
- Punjab National Bank Website: www.pnbindia.in and www.netpnb.com (net banking)
- Headquarters: Dwarka, New Delhi
- Call Centre Toll-Free Number: 1800 180 2222, 1800 103 2222