Solar Bank Financing in Pakistan

Solar bank financing in Pakistan, is available for citizens or businesses which consider the option to have a solar system, because a significant financial investment will be needed to have it.

Banks  also offer two programs, one for residential solar systems (Apna Ghar Solar Financing Program) and a commercial financing program (Smart Roshni Program). However, both programs contain the same features.
Smart Roshni facilitates term loan financing, as stated below, indeed a great option for solar bank financing in Pakistan.

  • Financing: An amount differing between Rs 500,000 – Rs 10 million, will depend on the sizes and quantity of solar modules being purchased.
  • 6% mark-up rate per annum
  • Equity: A 20% minimum of the loan amount
  • 3 – 5 years financing tenor, repayable in monthly installments
  • Insurance: offered via esteemed partners and the rate is preferential
  • Processing fee: 0,5% of financing amount or a minimum of PKR 5,000 – whichever is higher

Eligibility Criteria for Solar bank financing in Pakistan

  • Holder of a CNIC (Computerized National Identity Card)
  • Getting started requirements
  • Sufficient knowledge of solar business, operating for at least 1 year
  • Filling out a savings or current Account Opening form
  • Filling out a Request Application Form
  • Quote for the Solar Modules by the Bank’s authorized energy –  partner – RM/BM to authenticate on the original
  • Processing fee’s deposit slip
  • 2 recently taken passport size photos
  • Supporting documents / commitment acquired to use the loan properly
  • Proof of conducting business for past 2 years
  • A photocopy of NICOP / CNIC
  • Bank statement of past year required together with a bank certificate, applicable for people which are not JS Bank account-holders
  • NTN number required – client must be an income tax payee
  • A maximum of 3 bank statements, for income clubbing are permitted
  • Owners / directors’ personal guarantee – just sponsor directors where limited companies are concerned
  • Audited accounts in accordance with SBP regulations – lending to small companies – above Rs. 15-million & medium companies – above Rs. 10-million
  • Wealth tax return: small companies below Rs. 15-million & medium companies – below Rs-10 million for solar bank financing in Pakistan.

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