Syndicate Bank To Finance Solar Heating Systems

Syndicate Bank in Hyderabad launched a scheme for financing solar water heating systems. Under the scheme loans are made available with interest subsidy assistance from the Ministry of Non Conventional Energy sources. After subsidy, a net interest of 5% is charged on the loan amount.

The loans are repayable in five years in convenient installments. No collateral is required for loans up to Rs.25,000.

The solar water heating systems are useful for house holds, hospitals, hotels and small business establishments.