JS Bank

Financing: Between
Rs. 300,000/- and Rs. 2,000,000/-

Collateral: Solar Panel marked HPA to JS Bank (only through JS Bank’s Authorized vendors)

Charges: Rs. 14,000/- plus FED
Mark up: Fixed at 6% per annum

Tenor: Between 3 to 5 years, with repayment in monthly instalments
Down Payment: Minimum 25% of the financing amount
Insurance: Offered through reputable insurance partners at a preferential rate.

Eligibility Criteria:

• Computerized National Identity Card (CNIC) holder
• Owner of the resident (House) – where solar panels are to be installed
• Only for residential properties not for semi-commercial or commercial properties

Required Document Checklist:

1. Open an account at JS Bank (Current or Savings)
2. Fill & sign loan JS GharApna Solar Panel Financing application form
3. Obtain quotation of solar panels systems from authorized energy partner of the Bank
4. Two (2) recent passport size photographs
5. Copy of CNIC / NICOP
6. CF-1 Undertaking Form
7. JS GharApna Solar Panel Key Fact Sheet
8. Property Ownership document (Title Deed) along with latest utility Bill & Electricity Bill (for proof of ownership)
9. Bank statements business or personal account with account maintaining certificate
10. Contact details of the Applicant & Co-borrowers
11. Must be an active tax payee with NTN number
12. Any other requirement of the Bank.

Meezan Bank

Shariah-Compliant Solar Panel Financing provided on Islamic concept of Musawamah

Financing: Between
Rs. 100,000/- upto Rs. 2,000,000/-

Collateral: Solar Panel marked HPA to Meezan Bank and 3 cheques

Charges: As per latest Schedule of Charges
Mark up: Fixed at 6% per annum

Tenor: Between 1 to 5 years, with repayment in monthly instalments
Down Payment:

On-Grid System Down Payment

• With credit history ≥ 12 month – Minimum 15% maximum up to 50%
• With credit history < 12 months – Minimum 30% maximum up to 50%

Off-Grid System (No Net Metering) Down Payment

• Minimum = 30% and maximum up to 50%.

Eligibility Criteria:

Following are key requirements for availing solar financing with Meezan Bank. Comprehensive details for salaried customers, business owners and pension recipients can be found on the Bank´s website.

• Age of applicant: Varies for salaried, self-employed and pension customers
• Age of co-applicant: Maximum 75 years
• Nationality: Pakistani, adult, permanent resident, CNIC holder
• Income: Minimum monthly gross salary PKR 100,000
• Tax payee: Must be an active tax payee with NTN number
• Credit checks: Bank will conduct bureau checks and verification of residence and office / business place
• References: Two references required
• Account in Meezan Bank: Mandatory. If applicant currently does not have any account in Meezan Bank, it will be opened to offer financing.
• Maximum Debt Burden Ratio (DBR):Varies for salaried, self employed and pension customers

Required Document Checklist:

Following documents will be required to apply for solar financing with Meezan Bank. Comprehensive details for salaried customers, business owners and pension recipients can be found on the Bank´s website.

GENERAL DOCUMENTS

1. Property ownership proof
2. Current electricity bill
3. Properly filled application form
4. Copy of valid CNIC
5. Photographs (1)
6. Signature verification form
7. Declaration of financing
8. A valid quotation from Meezan Bank’s authorized Solar Vendor

Alfalah Green Energy

A term finance facility for customers willing to install solar energy equipment for generation of electricity ranging from 4 KW to 1000 KW with net metering.

Financing:

Maximum Loan Amount for single borrower: 400 million

Collateral: Solar Panel marked HPA to Alfalah Bank

Charges: As per the latest Schedule of Charges

Mark up: 6% per annum

Tenure: Up to 5 years with a 3-month grace period

Down Payment:

• Self-Owned Premises & Agri Facilities: 20%
• Rental & Leased Facilities: 25%
• Staff (with an intent of net-metering): 10%

Insurance: For the first year will be charged upfront with a down payment and will be built in instalments for the remaining years