Credit Fair, a fintech startup focused on consumer lending, has teamed up with Tata Power Solar Systems Limited (TPSSL) to provide affordable financing solutions for solar rooftop installations.
Under the partnership, Credit Fair will offer collateral-free financing solutions with flexible tenures of up to 60 months. The solutions will be available for all types of solar rooftop installations, including residential, housing societies, trusts, and MSMEs, with initial loans of up to INR 50 lakh for installations of up to 100 kW of solar power systems.
Credit Fair aims to increase the share of green financing in its loan book to 40% and grow its total assets under management to INR 1,000 crore by FY25. The financing solutions will be available across India, including tier 2 and 3 cities and rural areas, with quicker application processes facilitated by Credit Fair’s digital customer onboarding platform.
Commenting on the association, Vikas Agarwal, Co-Founder & CBO, Credit Fair said, “With TPSSL’s extensive reach including the remote areas of the country, we aim to broad-base solar power adoption on the back of growing awareness and government’s efforts to incentivise the rooftop solar solutions adoption through subsidies. We have plans to further increase credit limit from Rs.50 lakh to Rs. 200 Lakhs, based on the demand.”
