Bank of Baroda, a public sector bank in India, partnered with Tata Power Renewable Energy Ltd (TPREL) to offer loans for residential rooftop solar projects. A Memorandum of Understanding (MoU) was signed. Applicants could avail loans up to Rs 6 lakh at interest rates starting from 7% per annum. Both fixed and floating rate options were available.Loans up to Rs 2 lakh were offered for solar systems up to 3 kW without income proof. A 10% margin was required at a 7% interest rate. Larger systems up to 10 kW qualified for loans up to Rs 6 lakh with a 20% margin.The loans were collateral-free. The repayment period was up to 10 years. Home loan customers received interest rates between 9.15% and 11%. Others had rates from 10.15% to 12%.