Financing
Solar financing in Pakistan is a commendable venture initiated by the State Bank of Pakistan to foster the widespread adoption of renewable energy sources. In collaboration with all major commercial banks, NayaEco presents an enticing opportunity for eligible individuals to acquire and install solar systems on a convenient installment basis. This pioneering solar financing scheme spans installations ranging from 1 kW to 1 MW, accommodating a diverse range of energy needs.
Under this program, participants commit to fixed monthly installments remitted to the bank over a specified period, tailored to the chosen system size and configuration. The State Bank of Pakistan’s facilitation of solar system loans simplifies the process, making it accessible and convenient for individuals seeking to embrace solar energy solutions.
The primary objective of this initiative is to bolster the integration of renewable energy across diverse sectors, including industrial, commercial, domestic, and agricultural domains. By leveraging solar energy, beneficiaries can autonomously generate electricity for a substantial period, spanning at least 25 years. The consequential impact of this endeavor is the potential reduction of electricity bills to zero or even negative figures in certain cases, marking a significant stride towards sustainable and cost-effective energy solutions.
Residental Solar Financing
Features
Flexible Tenure
Between 3 and 5 years, as per consumer’s preference
Financing Limit
Rs. 500,000/- to Rs. 2.5 million/-
Subsidised Mark up
6% per annum
No Collateral
System itself acts as collateral
Eligibility Criteria
⦁ CNIC
⦁ Proof of Income
⦁ Proof of Property Ownership
⦁ Utility bills of one year
⦁ Active Tax Payee with NTN number
⦁ Two references are required
Salaried Person
- Two (2) recent passport size photographs.
- Copy of CNIC/NICOP.
- Must be the owner of the residence – (Copy of Home Registry) & Electricity Bill.
- Electricity Bill should be in the name of the applicant/owner of the house.
- Open an account at relevent bank (Current or Savings).
- Latest Three (3) Months Pay Slips (ATTESTED).
- Employment Certificate (ATTESTED).
- 6 Months Bank Statement (Salary Account) (ATTESTED).
- Must be an income tax payee (FBR Certificate Online).
- Obtain quotation of solar panels system from the NayaEco.
- Fill & sign Solar Panel financing application form.
- CF-1 Undertaking Form relevent bank.
- Solar Panel Key Fact Sheet Form relevent bank.
Businessmen
- Two (2) recent passport size photographs.
- Copy of CNIC/NICOP.
- CF-1 Undertaking Form relevent bank.
Solar Panel Key Fact Sheet Form relevent bank. - Must be the owner of the residence – (Copy of Home Registry) & Electricity Bill.
- Electricity Bill should be in the name of the applicant/owner of the house.
- Open an account at relevent bank (Current or Savings).
- Fill & sign Solar Panel financing application form.
- Obtain quotation of solar panels system from the NayaEco.
- An average of Rs. 100,000/- balance per month.
- Proof of last 2 years of business (Certifications of Business from any govt. organisation).
- Last 1 year’s bank statement business or personal account with account maintaining certificate should be attested by branch.
- Maximum 3 bank statements for income clubbing.
- Must be an income tax payee (FBR Certificate Online).
