Union Bank of India- Product

Search

Home You are here : path  Products path Personal path Renewable energy equipment

Image  RENEWABLE ENERGY EQUIPMENTS


Financing solar energy based pump set loans

Purpose

Loan will be granted for installation of solar water pumping system.

Eligibility

  • The farmers' land should have adequate source of water. In case, any public/Government source is being used like canal water, permission from government/irrigation department should be produced to lift the water.
  • In case of Wells they should have sufficient recouping / recharging capacity to irrigate the area proposed to be brought under irrigation.
  • Farmer should own an economic land holding with a minimum of 10 acres. However, loans can be considered even if the benefiting area is less than 10 acres provided the farmer is able to sell surplus water.

Components:

  • Solar PV panel
  • One of the following motor pump sets compatible with the photovoltaic array:
  • Surface mounted centrifugal pump set,
  • Submersible pump set,
  • Floating pump set,
  • Any other type of motor-pump set, after approval from Ministry of New & Renewable Energy (MNRE).

Quantum of Loan

Maximum 75% of the cost of the equipment.

Margin

Minimum 25% If subsidy is available, the same can be considered as margin

Security

  • Loans up to Rs.1.60 lakh

Hypothecation of equipment /assets financed.

  • Loans above Rs.1.60 lakh-
    • Hypothecation of equipment /assets financed and;
    • Mortgage of land (Accepted value of land should be more than  100% of loan amount) &/ or third party guarantee (means should not be less than 100% of loan amount).

Repayment

  • Maximum period of 07 years

Forms & Documents

Appropriate DPN note, Deed of Guarantee, Letter of continuity,  Hypothecation agreement, Mortgage deed ,Letter of general lien and setoff, Declaration/undertaking for Agriculture advance, Undertaking from borrower /Guarantor for disclosure to CIBIL and any other document stipulated in sanction

Solar Water Heater

Purpose

To purchase brand new solar water heating systems with necessary accessories for usage in Agro processing Units.

Eligibility

Small & Marginal farmers/share croppers/tenant farmers/ agri-entrepreneurs.

Margin

Minimum 15% of the cost of equipment’s including the cost of accessories. If subsidy is available, the same can be considered as margin

Loan Amount

Maximum 85% of the project cost including the cost of accessories

Security

  • Loans up to Rs.1.60 lakh

Hypothecation of equipment /assets financed.

  • Loans above Rs.1.60 lakh-
  • Hypothecation of equipment /assets financed and;
  • Mortgage of land (Accepted value of land should be more than 100% of loan amount) &/ or third party guarantee (means should not be less than 100% of loan amount).

Repayment

Maximum period of 05 year

Forms & Documents

Appropriate DPN note, Deed of Guarantee, Letter of continuity,  Hypothecation agreement, Mortgage deed ,Letter of general lien and setoff, Undertaking from borrower /Guarantor for disclosure to CIBIL , Declaration/undertaking for Agriculture advance and any other document stipulated in sanction

Solar Home Lightening Scheme

Purpose

Solar home lighting system aims at providing electricity for operating LED lights and small DC loads for specified hours of operation per day in rural farms.
Solar Lighting Models :
Model-I One white LED luminaire
Model-II Two white LED luminaire
Model-III Two white LED luminaire & one DC fan of wattage I upto 10W
Model-IV Four white LED

Eligibility

Small and  Marginal farmers /share croppers/tenant farmers/  Agri-entrepreneurs

Quantum of Loan

Maximum 85% of the project cost including the cost of accessories

Margin

Minimum 15% of the cost of equipment’s including the cost of accessories. If subsidy is available, the same can be considered as margin.

Security

  • Loans up to Rs.1.60 lakh

Hypothecation of equipment /assets financed.

  • Loans above Rs.1.60 lakh-
  • Hypothecation of equipment /assets financed and;
  • Mortgage of land (Accepted value of land should be more than 100% of loan amount) &/ or third party guarantee (means should not be less than 100% of loan amount).

Repayment

Maximum period of 05 years

Forms & Documents

 

Appropriate DPN note, Deed of Guarantee, Letter of continuity,  Hypothecation agreement, Mortgage deed ,Letter of general lien and setoff, Undertaking from borrower /Guarantor for disclosure to CIBIL , Declaration/undertaking for Agriculture advance and any other document stipulated in sanction

Gobar/Bio Gas Plant

Purpose

To provide hassle-free and adequate credit for the construction of bio-gas/Gobar gas plant and to acquire accessories like stove, lamp, etc. by way of term loan.

Eligibility

The beneficiary farmers should have minimum number of cattle herds in relation to the size of the plant and should have proper site for erection of the Plant.

Quantum of Loan

The loan amount will depend upon the size and type of the plant and NABARD project unit cost.

Margin

  • Up to Rs.1.60 lakh - Nil
  • Above Rs.1.60 lakh- 10% (Subsidy, if any, will be part of the margin)

Security

  • Loans up to Rs.1.60 lakh

Hypothecation of equipment /assets financed.

  • Loans above Rs.1.60 lakh-
    • Hypothecation of equipment /assets financed and;
    • Mortgage of land (Accepted value of land should be more than 100% of loan amount) &/ or third party guarantee (means should not be less than 100% of loan amount).

Repayment

Maximum period of 07 years

Forms & Documents

Appropriate DPN note, Deed of Guarantee, Letter of continuity,  Hypothecation agreement, Mortgage deed ,Letter of general lien and setoff, Undertaking from borrower /Guarantor for disclosure to CIBIL , Declaration/undertaking for Agriculture advance and any other document stipulated in sanction.


Rate of Interest - Please click here to know our latest interest rates

Conditions apply.

For more details please contact our nearest branch