Under the PM Surya Ghar Muft Bijli Yojana PSBs approved over 5 lakh loan applications totaling Rs 10,907 crore. The schemes reach was increased through a number of improvements including the removal of capacity-based caps and the inclusion of co-applicants.
A major milestone in providing households with inexpensive and clean solar energy has been reached by the PM Surya Ghar Muft Bijli Yojana (PMSGMBY) program. As of September, 2025; Public Sector Banks (PSBs) had approved more than 5.79 lakh loan applications totaling Rs 10,907 crore increasing the amount of money available to recipients for rooftop solar system installation.
Simplified financing through PSBs, collateral-free low-interest loans and a streamlined credit delivery process; all actively support the PM Surya Ghar Muft Bijli Yojana (PMSGMBY)’s implementation. The JanSamarth Portal which is connected with the National Portal for PM Surya Ghar Muft Bijli Yojana (pmsuryaghar.gov.in) is used to process the loans. This ensures a smooth and user-friendly digital application process from start to finish as well as data-driven decision-making for the beneficiaries.
A digital sanction process based on self-declaration a 6-month moratorium period from disbursement loans up to Rs 2 lakh at competitive interest rates no collateral a longer repayment term for electricity cost savings and a lower margin contribution from the applicant are some of the main advantages of the model loan scheme.
Public sector banks have been actively involved in the introduction of various improvements aimed at simplifying loan applications and broadening the programs scope. Based on user feedback notable enhancements to the loan program have been made including the removal of capacity-based caps the simplification of documentary requirements and the inclusion of co-applicants to increase the scope of eligibility.
In order to promote quicker adoption, better outreach and scheme penetration; the Department of Financial Services in partnership with the Ministry of New and Renewable Energy diligently monitors the status of loans under the program. It also strengthens implementation by working with State Level Bankers Committees and Lead District Managers. (Source: PIB)