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Bank of Maharashtra Solar Pumpset Loan

Term finance for 75% of a solar water pumping system's equipment cost, for farmers with adequate water, viable well recharge and at least 10 acres of economic landholding.

Interest rateUp to ₹10 lakh: current 11.50% p.a. Above ₹10 lakh: current 12.50% p.a.Maximum finance75% of equipment cost; no universal rupee cap is published.TenureFive to seven years.
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Quick eligibility check

Bank of Maharashtra Solar Pumpset Loan

0 of 7 answered

Answer what you know. This guide compares your answers with the criteria published for this product; it is not an approval decision. Your answers stay on this device.

1Does your annual income meet this requirement: No salary floor?

Published source: Land and water eligibility

2Do you meet this requirement: Adequate water, viable well recharge and an economic landholding of at least 10 acres are required?

Published source: Land and water eligibility

3Do you meet this requirement: The applicant must have adequate water availability, a well with sufficient recouping capacity and an economic landholding of at least 10 acres?

4Document checkDo you have this required document or proof: Form 138 and Enclosure B2?

Published source: Land and water eligibility

5Document checkDo you have this required document or proof: Land and boundary records?

Published source: Land and water eligibility

6Document checkDo you have this required document or proof: No-dues certificates including PACS?

Published source: Land and water eligibility

7Document checkDo you have this required document or proof: Equipment quotations and estimates?

Published source: Land and water eligibility
0 of 7 answeredAnswer the remaining questions to see your checklist result.
✓ Manually checked 31 Aug 2026 · active
Offered byBank of Maharashtra

India; MNRE-approved equipment and local water viability apply

Key facts

What the official sources publish

Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.

Loan typeAgriculture term loan for a solar water pumping system.View source
Published facility and purpose.
Source
Solar Energy Based Pumpset Loans
Page / section
Facility; Purpose
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Interest rateUp to ₹10 lakh: current 11.50% p.a. Above ₹10 lakh: current 12.50% p.a.View source
Both product formula slabs calculated from the current benchmark.
Source
Solar Pumpset Loans and current notice
Page / section
Rate; page 1
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
BenchmarkOne-year MCLR 9.00% + BSS 0.50% + 2.00% up to ₹10 lakh, or +3.00% above ₹10 lakh.View source
Current benchmark paired with the exact page spreads.
Source
effective 25.07.2026
Page / section
Page 1
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
APRNot published.View source
No fee-inclusive appears.
Source
Solar Energy Based Pumpset Loans
Page / section
Complete page and current schedules
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Land and water eligibilityNo salary floor. Adequate water, viable well recharge and an economic landholding of at least 10 acres are required.View source
All three operating eligibility tests are retained.
Source
Solar Energy Based Pumpset Loans
Page / section
Eligibility
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Maximum finance75% of equipment cost; no universal rupee cap is published.View source
The page publishes a cost percentage rather than a rupee maximum.
Source
Solar Energy Based Pumpset Loans
Page / section
Amount
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
TenureFive to seven years.View source
Published repayment range.
Source
Solar Energy Based Pumpset Loans
Page / section
Repayment
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Processing feeNil up to ₹5 lakh; 1% above ₹5 lakh to ₹25 crore.View source
Current agriculture term-loan tariff.
Source
Service Charges
Page / section
page 81, agriculture term-loan row
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Prepayment charge2% of prepaid amount when prepayment exceeds 25% of sanctioned limit; nil when principal outstanding is below 25% of sanctioned limit; MSEs are exempt.View source
Current all-credit term-loan rule.
Source
Service Charges - All Credit
Page / section
Term-loan prepayment row
Accessed
31 Aug 2026
Confidence
high
Open official source ↗

Benefits and features

  • 75% of equipment cost
  • Photovoltaic panel and approved pump system
  • Nil margin up to ₹2 lakh
  • Five-to-seven-year repayment
  • Subsidy may be treated as margin

Eligibility

  • The applicant must have adequate water availability, a well with sufficient recouping capacity and an economic landholding of at least 10 acres.

Passing a listed condition does not mean the bank will approve an application.

Documents the bank lists

  • Form 138 and Enclosure B2
  • Land and boundary records
  • No-dues certificates including PACS
  • Equipment quotations and estimates
  • Legal search above ₹1.60 lakh where land is mortgaged
  • Guarantee Form F-138 and guarantor records where required

Related official documents

Marginal Cost of Funds Based Lending Rates with effect from 25.07.2026official-pdf · current · accessed 31 Aug 2026
↗
Bank of Maharashtra Service Charges - Commercial, MSME and Agriculture Creditofficial-pdf · current · accessed 31 Aug 2026
↗
Financing Solar Energy Based Pumpset Loansofficial-product-page · current · accessed 31 Aug 2026
↗

Plan before applying

Try the numbers

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Loan repayment estimate

See what the loan could cost each month. Move any slider to try a different amount, rate or repayment time.

One monthly payment₹21,696twenty-one thousand six hundred ninety-six rupees
Interest paid over the full loan₹27,06,939twenty-seven lakh six thousand nine hundred thirty-nine rupees
Everything you repay₹52,06,939fifty-two lakh six thousand nine hundred thirty-nine rupees

This is only an estimate, not a bank or insurer offer. The final amount can change because of taxes, fees, rate changes and provider rules.

Use the published table

Find the exact published value

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Facility · Published detailTerm Loan

This value is copied from Solar Energy Based Pumpset Loans - complete published scheme table. Check the table notes before relying on it.

Source: Solar Energy Based Pumpset Loans · Complete table Open official source ↗

Published tables

Complete rates, limits and schedules

Tables preserve every reviewed row and column from the cited official source.

Table 1 · 10 rows · 2 columnsSolar Energy Based Pumpset Loans - complete published scheme tableView tableHide table

Scroll sideways to view every column

Solar Energy Based Pumpset Loans - complete published scheme table
ParticularPublished detail
FacilityTerm Loan
PurposeInstallation of a solar water pumping system
EligibilityAdequate water availability, well with sufficient recouping capacity and economic landholding of at least 10 acres
ComponentsPhotovoltaic panel and surface centrifugal, submersible, floating or other MNRE-approved pump
Amount75% of equipment cost
MarginNil up to ₹2 lakh; 25% above; subsidy may be treated as margin
RateUp to ₹10 lakh 1Y +BSS 0.50%+2%; above ₹10 lakh +3%
SecurityUp to ₹2 lakh: equipment hypothecation; above ₹2 lakh: additional guarantee or land mortgage
RepaymentFive to seven years
DocumentsForm 138/B2; land/boundary records; no-dues including PACS; legal search where mortgaged; quotations/estimates; guarantee/guarantor records
Solar Energy Based Pumpset Loans · Complete table · accessed 31 Aug 2026Open official source ↗
Table 2 · 5 rows · 3 columnsBank of Maharashtra MCLR effective 25 July 2026View tableHide table

Scroll sideways to view every column

Bank of Maharashtra MCLR effective 25 July 2026
TenorResidual maturity p.a.
Overnight1 day7.30%
One month>1 day to 1 month8.30%
Three months>1 to 3 months8.55%
Six months>3 to 6 months8.90%
One year>6 months9.00%
effective 25.07.2026 · Page 1 · accessed 31 Aug 2026Open official source ↗

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