PURPOSE
Financing shall be available only for installation of new Solar systems only.
NATURE OF LOAN
Term Loan (i.e. Demand Finance)
Target Market:
Category – I: Salaried Individuals
- Employees of Multinational Companies
- Government and Armed Forces Employees
FINANCING LIMIT
Minimum:Rs. 500,000/-
Maximum: Rs. Rs. 2,000,000/-
TENOR
Maximum: 10 Years
PRICING
Male: 6.00 % per annum
Female / Transgender: 5 % per annum
MODE OF REPAYMENT
Monthly / Quarterly
COLLATERAL
Lien on Salary
One Personal Guarantee
Electricity Generation Range:
Generation of electricity ranging from 4KW to 1000 KW or (0.004 MW to 1 MW) for residential consumption and or supply to the distribution companies as per rules set by NEPRA (National Electric Power Regulatory Authority).
BASIC DOCUMENTATION
- Application Form
- Valid CNIC Copy
- Financials/ Projections/Feasibility Report
- Quotation of solar panels systems from authorized energy partner / eligible vendor of the Bank
- Two recent passport size photographs
- Latest 03 months’ Salary Slips
- Latest 06 months Bank Statement
Category – II: Cash Back Energy Solution
- All Pakistani nationals / residents who wants to install solar / renewable energy system by keeping their savings intact
FINANCING LIMIT
Minimum: Rs. 500,000/-(or cost of 4 KW)
Maximum: Rs. 5,000,000/- (or cost of 1MW) * (whichever is lower)
TENOR
Maximum: 10 Years
PRICING
Male: 6.00 % per annum
Female / Transgender: 5 % per annum
MODE OF REPAYMENT
Monthly / Quarterly
COLLATERAL
Lien / Pledge over FWBL Deposits / TDRs, Other Bank’s Deposits / TDRs, FCY
Deposits, DSCs, SSCs, RICs, Prize Bonds with 10% minimum margin.
Electricity Generation Range:
Generation of electricity ranging from 4KW to 1000 KW or (0.004 MW to 1 MW) for residential consumption and or supply to the distribution companies as per rules set by NEPRA (National Electric Power Regulatory Authority).
BASIC DOCUMENTATION
- Loan Application Form
- Valid CNIC Copy
- Quotation of solar panels systems from authorized energy partner / eligible vendor of the Bank
- Two recent passport size photographs
- Security details
ELIGIBILITY
- All Pakistani Nationals willing to install solar system (i.e. ranging from 4 KW and above) for the generation of electricity at their residential premises.
AGE CRITERIA
- Category – I: 22 years – 60 years at the time of maturity
- Category – II: 22 years and above
installments will be just
