Solar solutions provider Freyr Energy on Monday said Axis Bank would extend ₹5 lakh to ₹50 lakh term loan facility to a certain segment of its customers in Telangana and Andhra Pradesh.
The loan, with a tenure of up to 5 years, will be for MSMEs and self-employed individuals towards installing solar rooftops for industrial and commercial purposes. Announcing the tie-up with Axis Bank, co-founder and managing director of Freyr Energy Saurabh Marda said it would be a collateral-free loan for MSMEs at interest rates that will be competitive.
