Interest Rate Matrix

Interest Rates w.e.f. 01.12.2020

S.No. Borrower/Sector State Sector Borrowers/ CPSUs (Category 'A++' ) [AND] Identified CPSUs [AND] AAA rated Companies State Sector Borrowers/ CPSUs (Category 'A+' ) State Sector Borrowers/ CPSUs (Category 'A' &'B' ) [AND] Central Sector Borrowers (Other than Identified CPSUs & AAA rated) - New category
01 Renewable Energy Projects except Biomass and Waste to Energy projects 9.75% 9.75% 10.00%
02 Biomass and Waste to Energy (WTE) projects 10.20% 10.70% 11.10%
S.No. Borrower/Sector Private Sector Borrower
03 Roof top Solar 9.70% 10.00% 10.15% 10.40% 10.85%
04 Wind Energy, and Grid Connected Solar PV 9.70% 10.00% 10.20% 10.45% 10.90%
05 Hydro and CSP, Energy Efficiency, Energy Conservation & Solar Thermal /Solar PV Off-Grid 9.70% 10.00% 10.20% 10.45% 10.95%
06 Co-generation, Biomass Power and other sector 10.25% 10.75% 11.15% 11.45% 11.65%
07 Manufacturing (All sectors) Existing units – 10.80 %   Green Field – 11.00%
08 LoC for Refinance Cost of domestic borrowing + 1% to 2% spread

Note :

  1. The above interest rates along with conditions will be effective in case of   All new Sanction and loan accounts whose first disbursement date is on or after 01-12-2020. The above interest rates along with conditions will also be effective on all loan accounts from their next reset of interest date on or after 01-12-2020.
  2. The above interest rates are for loans having interest installments on monthly rest, for accounts having interest installment on quarterly rest, the interest rate will be 10 bps higher than the above rate.
  3. Additional Interest shall be charged over and above the applicable rate of interest till the date of commissioning of the project other than Wind and Solar sector. No additional interest during construction for (i) “Schedule- A, ‘AAA’ rated PSUs (ii) State Sector Borrowers who are engaged in power sector and have successfully implemented not less than 200 MW of hydroelectric projects and implementing Hydro sector projects. The additional interest during commissioning period shall discontinue after commissioning of the project. The date of such discontinuance shall be the date on which the borrower submits the duly certified commissioning certificate for the entire sanctioned capacity of the project to IREDA.
  4. The interest rate shall be subjected to reset on commissioning of the project or 1 year from the Date of first disbursement, whichever is earlier and thereafter every 1 year. In case projects commissioned prior to first disbursement, the first reset will be 1 year from the date of first disbursement. 
                   5. In case of loans sanctioned for manufacturing facilities, no additional interest during the 
                    construction period shall be charged.
Last Updated on 29/11/2020