Does my subsidy reduce the loan amount upfront?

No. Your loan is disbursed to cover the upfront system cost, and the subsidy arrives afterward, typically 30-45 days after commissioning, credited directly to your bank account, not adjusted against the loan automatically. Prepaying it against your principal once it lands is usually the better move, which is what the 'after subsidy' figures on this calculator show.

What interest rate should I use?

The default here, 7.25% per annum, is SBI's published Surya Ghar loan rate as of April 2026, sourced directly from SBI's own interest rate page. Rates change periodically and other banks (PNB, Canara, Bank of Baroda) offer broadly similar dedicated solar loan products at their own current rates, so adjust the slider to match your actual offer before relying on the numbers.

Calculators

Solar Loan EMI Calculator

Adjust the loan amount, tenure and rate, and see your EMI before and after your subsidy is prepaid.

Loan amount ₹1,65,000

₹50,000₹6,00,000

Loan tenure 5 years

1 year15 years

Interest rate (p.a.) 7.25%

5%14%

Subsidy to prepay against principal ₹1,08,000

₹0₹1,08,000 (max)

Default rate is SBI's published Surya Ghar loan rate (7.25% p.a., w.e.f. 1 April 2026). See our solar loan & EMI guide for how this works and current terms from SBI's own rate card.

Your EMI

₹3,287

per month, before subsidy prepayment

EMI before subsidy prepay₹3,287

EMI after subsidy prepay₹1,135

Total interest (full tenure)₹32,220

Total repayment₹1,97,220

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Calculated with the standard reducing-balance EMI formula. "After subsidy prepay" assumes the subsidy amount is applied to reduce your principal immediately upon arrival, with EMI recalculated at the same rate and remaining tenure. This is a planning estimate, your bank's exact terms (processing fees, exact disbursal date, prepayment rules) may affect the real numbers slightly.

Solar Loan EMI Calculator

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