No Result
View All Result
Saturday, July 12, 2025
MM News
اردو
  • Home
  • Latest News
  • National
  • Dramas
  • Showbiz
    Dhadak 2

    Dhadak 2 trailer: Triptii Dimri and Siddhant shine in emotional love story

    Rabia Butt

    Rabia Butt’s silence alarms fans after Humaira Asghar’s tragic death

    Top 10

    What are top 10 must-watch Netflix films of July 2025?

    Kapil Sharma

    Canada: Kapil Sharma’s Surrey café hit by gunfire days after launch

    Humaira Asghar

    Body of Humaira Asghar handed over to family, sent to Lahore for burial

    Filmmaker

    Filmmaker sentenced to two years for publishing defamatory letter on Facebook page

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
MM News
  • Home
  • Latest News
  • National
  • Dramas
  • Showbiz
    Dhadak 2

    Dhadak 2 trailer: Triptii Dimri and Siddhant shine in emotional love story

    Rabia Butt

    Rabia Butt’s silence alarms fans after Humaira Asghar’s tragic death

    Top 10

    What are top 10 must-watch Netflix films of July 2025?

    Kapil Sharma

    Canada: Kapil Sharma’s Surrey café hit by gunfire days after launch

    Humaira Asghar

    Body of Humaira Asghar handed over to family, sent to Lahore for burial

    Filmmaker

    Filmmaker sentenced to two years for publishing defamatory letter on Facebook page

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
No Result
View All Result
No Result
View All Result
MM News
اردو
  • Latest
  • Showbiz
  • Thought Box
  • Business & Stock
  • Opinions
  • Technology
  • The Other Side-Pakistan
Home Thought Box

Solar panel financing in Pakistan: A step-by-step guide to bank loans and procedures

MM News Staff by MM News Staff
July 2, 2024
Solar panels installed at a Peshawar park to meet lighting needs. (Image: Dawn.com)

Solar panels installed at a Peshawar park to meet lighting needs. (Image: Dawn.com)

To promote renewable energy in the country, the State Bank of Pakistan has launched the Solar Financing Pakistan initiative.

This program aims to support the country in tackling the dual challenges of energy shortages and climate change by promoting the adoption of renewable energy solutions.

Through Solar Financing Pakistan, people can access financing ranging from PKR 500,000 to PKR 10 million. This initiative facilitates the purchase of solar energy systems through convenient monthly installments across Pakistan.

Eligibility Criteria

The eligibility requirements for this program are designed to be straightforward, aligning with the program’s goal of making renewable energy more accessible. Applicants must:

  • Hold a Computerized National Identity Card (CNIC)
  • Own the business premises or residential property where the solar panel system will be installed

Below is a list of banks offering solar financing in Pakistan:

Meezan Bank

Meezan Bank, a prominent financial institution and advocate of Green Energy, responded to SBP’s solar financing initiative by introducing programs designed to empower individuals to manage their energy production and contribute to environmental sustainability.

Program Features:

  1. The programs launched by Meezan Bank include the following features:
  2. Financing: Ranging from Rs. 300,000 to Rs. 20 million, depending on the project size
  3. Equity: Minimum 25% of the total amount
  4. Mark-up rate: 6% quarterly/annually
  5. Financing tenor: Between 3 and 10 years
  6. Processing fee: Minimum PKR 5,000/- or 0.5% of the loan amount (whichever is higher)
  7. Insurance: Preferential insurance rates offered through reputable partners
  8. Prerequisites for Financing:
  9. Current or Savings account with Meezan Bank
  10. Completion and signing of the loan application form
  11. Quotation for a solar panel system from an authorized dealer
  12. Two recent passport size photographs
  13. Copy of CNIC

Apply now

Bank of Punjab

In response to SBP’s solar financing program, Bank of Punjab launched their initiative named BOP Solar Home, offering:

  1. Financing: Up to Rs. 5 million or 50 lac.
  2. Equity: Minimum 20% of the financing amount.
  3. Mark-up Rate: 6% annually.
  4. Financing Tenor: Up to 7 years.
  5. Processing Fee: PKR 5,000.

Prerequisites:

  • Completed loan application form.
  • Two recent passport size photographs.
  • Copy of CNIC.
  • Proof of property ownership with utility bills.
  • Bank statements (last six months).
  • Active taxpayer with NTN number.
  • Proof of employment or business for the past 3 years.
  • Professional degree copy (if applicable).
  • Details of other outstanding loans.

Apply now

Allied Bank

Allied Bank, a renowned institution and advocate of Green Energy, responded to SBP’s solar financing initiative with two distinct programs aimed at empowering individuals to manage their energy needs and foster environmental sustainability.

Program Features:

Both programs offered by Allied Bank share the following features:

Financing:

  1. Small Enterprise (SE): Up to Rs. 25.00 Million*
  2. Medium Enterprise (ME): Up to Rs. 200.00 Million*
  3. Equity: Minimum 25% of the total amount
  4. Mark-up rate: 6% Quarterly
  5. Financing tenor: Between 3 and 10 years
  6. Processing fee: Minimum PKR 5,000/- or 0.5% of the loan amount (whichever is higher)
  7. Insurance: Preferential insurance rates offered through reputable partners

Prerequisites for Financing:

  • Current or Savings account with Allied Bank
  • Completion and signing of the loan application form
  • Quotation for a solar panel system from an authorized dealer
  • Two recent passport size photographs
  • Copy of CNIC
  • CF-1 Undertaking Form
  • Property ownership documents and recent utility bills
  • Business or individual bank statements
  • Active tax payer status with NTN number (especially for businesses)

Apply now

Bank of Khyber

The Bank of Khyber (BOK) actively supports a cleaner and greener Pakistan through SBP’s solar financing scheme, offering comprehensive financial solutions to domestic customers. Initially launched in Peshawar, the success of their Solar Financing scheme led BOK to expand this initiative nationwide under the banner “BOK Roshan Ghar Scheme”.

Features of the Program:

  • Financing: Available from Rs. 50,000 to Rs. 20 million, depending on the program category specified by SBP.
  • Equity: Minimum 25% of the total financing amount.
  • Mark-up Rate: Fixed at 6% per annum.
  • Financing Period: Ranges from 6 months to 5 years.
  • Processing Fee: PKR 5,000 plus FED.
  • Insurance: Provided through Askari General Insurance Peshawar (0.3% + taxes).
  • Prerequisites to Get Financing:
  • Completion of financing application.
  • Submission of two recent passport size photographs.
  • Copy of CNIC.
  • Proof of property ownership along with the latest utility bills.
  • Bank statements for the past six months from personal and business accounts.
  • Active taxpayer status with NTN number.
  • Proof of employment or business continuity for the last 3 years.
  • Copy of professional degrees (if applicable).

Apply now

Habib Bank Limited

HBL, Pakistan’s largest bank, extends financial support under SBP’s Solar Refinancing Scheme to address the country’s energy challenges. They cater mostly to industrial clients across three distinct categories:

  1. Category-I: Industrial projects ranging from 1MW to 50 MW.
  2. Category-II: Projects up to 1MW.
  3. Category-III: Suppliers certified under AEDB Certification Regulation 2018 for leasing solar or wind projects or selling electricity.

Features of the Program:

Financing:

  • Category-I: Up to PKR 6 billion per project.
  • Category-II: Up to PKR 400 million per borrower.
  • Category-III: Up to PKR 1 billion per supplier.
  • Equity: Minimum 25% of the total financing amount.
  • Mark-up Rate: Fixed at 6% per annum.

Financing Tenor:

  • Category-I: Maximum 12 years (including 2 years grace period).
  • Category-II: Maximum 10 years (including 3 months grace period).
  • Category-III: Maximum 10 years.
  • Prerequisites to Get Financing:
  • Completion and signing of the loan financing application.
  • Submission of two recent passport size photographs.
  • Copy of CNIC.
  • Ownership documents for property with the latest utility and electricity bills.
  • Bank statements for the past six months from both business and personal accounts.
  • Active taxpayer status with NTN number.
  • Details of all loans from other sources.

Apply now

JS Bank

JS Bank, a prominent advocate for Green Energy, responded to SBP’s solar financing initiative with dedicated programs aimed at empowering individuals and businesses to adopt sustainable energy solutions and foster environmental safety.

JS Bank introduced two distinct programs to support this initiative:

  1. JS Apna Ghar Solar Financing Program (residential):
  •   Financing: From Rs. 300,000 to Rs. 20 million, depending on project size.
  •  Equity: Minimum 25% of the total amount.
  •  Mark-up Rate: 6% annually.
  •  Financing Tenor: 3 to 5 years.
  •  Processing Fee: Minimum PKR 5,000/- or 0.5% of the loan amount (whichever is higher).
  •  Insurance: Offered at preferential rates through reputable partners.

Prerequisites:

  • JS Bank Current or Savings account.
  • Signed loan application form.
  • Quotation from an authorized solar panel dealer.
  • Two recent passport size photographs.
  •   Copy of CNIC.
  •   CF-1 Undertaking Form.
  •    JS Solar Panel Key Fact Sheet.
  •   Proof of property ownership with utility bills.
  •   Bank statements (individual or business).
  •   Active taxpayer with NTN number (for businesses).
  1. JS Smart Roshni Program (commercial):

Similar features as the residential program, tailored for commercial enterprises.

Apply now

ShareTweetSendShare
Previous Post

Pakistan’s tallest man passes away at 30 in Vehari

Next Post

Who is Hind Rajab and why was her father killed ?

Related Stories

File photo
Top News

Humaira Asghar laid to rest after funeral prayers in Lahore

July 11, 2025
Online
Sports

Pakistan reach Men’s U18 Asia Cup 2025 final

July 11, 2025
Lyari Building Collapse
National

Lyari building collapse: Preliminary report blames 14, including 6 SBCA directors

July 11, 2025
Image: 24 News
Top News

Pakistan and Russia sign deal to revive Pakistan Steel Mills

July 11, 2025
file photos
Top News

Court restores Asad Toor and Matiullah Jan’s YouTube Channels

July 11, 2025
Moulana Khan Zaib
National

Bajaur: Thousands attend funeral of martyred ANP leader Maulana Khan Zaib

July 11, 2025
raped and murdered
Crime

13-year-old girl brutally raped, murdered in Karachi, two arrested

July 11, 2025
Tax Reforms
Business & Stock

Traders call nationwide shutter-down strike to protest tax reforms

July 11, 2025
Pakistan Railways
Top News

Pakistan Railways to launch high-tech business train on July 19

July 11, 2025
Kiling animals
Crime

Lahore woman arrested for killing animals, posting graphic content online

July 11, 2025
Next Post

Who is Hind Rajab and why was her father killed ?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Trending Stories

Online
Film & TV

TikToker Ali Butt ties knot in private nikkah ceremony

by MM News Staff
July 11, 2025
File photo
Business & Stock

PIA privatisation process geared up

by MM News Staff
July 11, 2025
File photo
Technology

OpenAI to release web browser to challenge Google Chrome

by MM News Staff
July 11, 2025
Babar Azam failed to perform in CT 2025: File photo
Sports

Babar Azam will open if selected: Head Coach Mike Hesson

by MM News Staff
July 11, 2025
File photo
Uncategorized

Pakistani airline takes Karachi-bound passenger ‘mistakenly’ to Saudi Arabia

by MM News Staff
July 11, 2025

Opinion

Munir-Ahmed
Portugal and Pakistan: Building a Bilateral Bridge in a Fractured World
June 29, 2025
- Munir Ahmed
munir ahmed oped
A Peace Prize for Betrayals: Rethinking Pakistan’s Strategic Alliances
June 28, 2025
- Munir Ahmed
munir ahmed oped
“Run Lola Run” – More than a movie to cultural bridging
June 27, 2025
- Munir Ahmed
No posts found
See all

Weather Updates

file photo
Weather

Flood warning issued as heavy rain expected in parts of Pakistan from July 13-17

by APP
July 11, 2025

The National Emergencies Operation Center (NEOC), under the National Disaster Management Authority (NDMA), has...

File photo

Monsoon rain-related incidents claim 87 lives across Pakistan: NDMA

July 10, 2025
Rain in Lahore

Heavy rains flood Lahore, city paralyzed as roads resemble ponds

July 10, 2025
Flood

NEOC issues flood alert as monsoon claims 19 lives across Pakistan

July 8, 2025
See all

Prices

representative image
Business & Stock

Latest gold prices in Pakistan today- July 11, 2025

by MM News Staff
July 11, 2025

The following are the latest gold rates in Pakistan on Friday, 11 July 2025....

File photo

Electricity prices slashed across Pakistan

July 9, 2025
File Photo

Here’s how much extra you will pay under the revised gas tariff

July 9, 2025
(Pak Suzuki)

Pak Suzuki increases motorcycles prices in Pakistan: Check new rates

July 9, 2025
See all

Transport News

Pakistan Railways
Top News

Pakistan Railways to launch high-tech business train on July 19

by MM News Staff
July 11, 2025

Pakistan Railways has announced the launch of a state-of-the-art, fully digitalized new business train....

(APP)

Sindh to roll out 1,000 electric buses across various routes in Karachi

July 5, 2025
Sukkur Express

Passengers on Sukkur Express roof hit by power lines: 1 dead, 11 injured

July 5, 2025
(Karachi Police)

Muharram processions: THESE Karachi roads will be closed for traffic from Friday to Sunday

July 4, 2025
See all

MM Digital (Pvt.) Ltd.

MM News is a subsidiary of the MM Group of Companies. It was established in 2019 with the aim of providing people of Pakistan access to unbiased information. Contact Details: 03200201537

Quick Links

  • Home
  • Advertise
  • MM News Urdu
  • The Other Side-Pakistan
  • Contact Us
  • Privacy Policy

Top Pages

  • Latest News
  • Showbiz
  • OP-ED
  • Technology
No Result
View All Result
  • Latest News
  • Showbiz
  • Thought Box
  • Business
  • Opinions
  • Technology

© Copyright 2024 MMNews - All Rights Reserved.