Bank Solar Finance:
Meezan Bank provides Solar finance facilities across its branch network country-wide.
As the load-shedding in Pakistan is high in these days and the Summar heat is also at its peak hence solar panel is the solution.
A solar panel system provides a complete solution for all the electric needs of a home.
The solar panel system through Meezan Bank provides up to 1MW of electricity that is sufficient for the needs of a home.
Amount of Finance:
The customers can get Bank solar finance through Meezan bank ranging from Rs.100,000 to Rs.2000,000.
The higher the amount the more will be per month installment and the bank profit.
Approved Solar Companies:
Customers can choose any of the given approved vendors to install a solar panels at home through Meezan bank.
Nizam Energy Pvt Ltd, Zi Solar Pvt Ltd, Delta Power, Pantera Energy Pvt Ltd, EMCON Engineering, Creative Electronics Pvt Ltd, Adaptive
Technologies Pvt Ltd, Premier Energy Pvt Ltd.
You may choose any of the above given approved solar vendors to get installation at home.
The profit rate will be fixed at 6% per annum for the customers of the Mera Pakistan Mera Ghar Scheme.
6% profit rate is quite justifiable when KIBOR is much higher.
To avail of solar finance at 6% one must have approved financing of the Mera Pakistan Mera Ghar housing scheme.
Another condition for bank solar finance is to have a debt burden ratio not more than 45%.
This means that if accumulated other banks loan the percentage of installment amount must not exceed 45% of the net income of the applicant.
The customers must have a clean credit history. It means that the customer does not have any overdue or default in his/her credit history against any bank loan.
Now ECIB depicts the credit history data of the customer for the past two years hence it must be clear for the last two years.
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