Purpose

For the purchase of Solar Power Systems

Eligible Borrowers

Borrowers under following sectors are eligible to obtain facilities:

  • Domestic (residential)
  • SME
  • Commercial

Maximum Loan Amount

SectorQuantum of Loan
Domestic    
(residential)
75% of the total cost of the Solar Power System
subject to a maximum of Rs. 1.5 Mn.
SME75% of the total cost of the Solar Power System
subject to a maximum of Rs. 5.0 Mn. 
Commercial75% of the total cost of the Solar Power System
subject to a maximum of Rs. 5.0 Mn.

Repayment Period

SectorRepayment Period
Domestic    
(residential)

7 years    
However, a maximum period of 10 years can be considered for facilities granted to housing loan customers of Bank of Ceylon (existing and new) based on the remaining period of the housing loan as follows,

  1. If the remaining period of the housing loan is equal to or more than 10 years – 10 years
  2. If the remaining period of the housing loan is less than 10 years – the remaining period of the housing loan or 7 years, whichever is higher.
SME5 years
Commercial7 years

Special Conditions

  • The supplier of the Solar Power System should be a registered supplier at the Sustainable Energy Authority of Sri Lanka
  • Fire insurance should be obtained from a reputed insurance company covering all the related risks
  • Facilities catered to under the domestic category of this credit scheme could be considered,
    i. at the time of evaluation of fresh housing loans (in case a borrower requests a credit facility from this scheme parallel with the housing loan) or, 
    ii. for already constructed houses (in case a borrower requests a credit facility from this scheme to purchase a solar power system at a later stage)
    (a) for which a housing loan(s) has/have already been obtained or    
    (b) for which a housing loan(s) has/have not been obtained
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Terms and Conditions

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Special Credit Scheme for Purchasing of Solar Power Systems

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