Harness the power of the sun and embrace clean energy with Meezan Bank Solar’s innovative Shariah-compliant solar panel financing program. At Meezan Bank, we are dedicated to helping you make the switch to renewable energy by providing accessible and affordable financing solutions. With our expertise and competitive pricing, you can power your home while reducing your monthly electricity bills. Let’s explore the benefits and eligibility criteria of Meezan Solar’s financing program.
Benefits of Meezan Bank Solar Panel Financing:
Affordable Financing
Meezan Bank offers interest-free solar panel financing, allowing you to enjoy the benefits of clean energy while saving money on your electricity bills. With flexible payment plans, you can choose a financing option that suits your budget.
Greener Environment
By generating your own source of power through solar energy, you contribute to a greener environment. Through net metering, any excess power you generate can be sold back to the national electricity grid, promoting sustainability.
Eligibility Criteria for Meezan Bank Solar Financing:
Salaried Individuals (Permanent Job):
- Nationality: Pakistani, adult, permanent resident, CNIC holder
- Age: Minimum 20 years and maximum 60 years or up to the age of retirement at the time of maturity
- Employment Status: Must be permanent with a current job tenure of at least 2 continuous years
- Income: Minimum monthly gross salary of PKR 100,000
- Tax Payer: Must be an active taxpayer with an NTN number
- Credit Checks: Bank conducts bureau checks and verifies residence and office/business place
- References: Two references required
- Financing for flats/apartments is not available
Salaried Individuals (Contractual Job):
Income
Minimum monthly gross salary of PKR 200,000
Job Tenure
03 years at current employer and overall, 05 years of experience. A contract must be with the direct company, third-party contracts are not eligible
Business Individuals:
Nationality
Pakistani, adult, permanent resident, CNIC holder
Age
Minimum 30 years and maximum 65 years at the time of maturity of financing
Income
Minimum monthly gross income of PKR 500,000
Business Tenure
At least 05 years
Income Assessment
Through bank statements, audited accounts, tax returns, etc.
Pension Income:
Nationality
Pakistani, adult, permanent resident, CNIC holder
Age
Maximum 70 years at the time of maturity of financing
Employment Status
Retired pension holder
Income
Minimum monthly gross pension of PKR 100,000
Income Assessment
Through pension book, pension bank statement, etc.
Product Details
Islamic Mode
Financing provided on the Islamic concept of Musawamah
Installment
Unequal monthly installments
Profit Rate
1 Year KIBOR+2.5% for salaried and pension income, 1 Year KIBOR+3.5% for non-salaried
Financing Tenure
Minimum 12 months (1 year) and maximum up to 60 months (5 years)
Financing Amount
Minimum PKR 100,000 and Maximum up to PKR 2,500,000 (PKR 3,000,
000 for Meezan Bank Premium Banking customers)
- Security Collateral: Hypothecation Agreement (HPA) on solar panels and submission of three cheques
- Residence Ownership: The property where solar panels will be installed must be owned by the applicant or immediate family member
How to Apply for Meezan Bank Solar Financing
Ready to make the switch to clean energy? Follow these simple steps to apply for Meezan Solar Panel Financing:
- Visit your nearest Meezan Bank branch or call our 24/7 Call Centre at 111-331-331 / 111-331-332 to initiate your application.
- Obtain a quotation from an Energy Partner authorized by Meezan Bank.
- Submit a copy of your CNIC, signed application form, and a copy of your latest electricity bill.
- Open an account with Meezan Bank if you don’t have one already.
Contact Information for Meezan Bank Solar Financing
If you have any questions or need assistance, our dedicated representatives are here to help:
- Mr. Azeem Ullah (Karachi) – Cell No: 0331 2592705
- Mr. Faisal Iqbal (Karachi) – Cell No: 0331 2674004
- Mr. Nadeem Rahim (Islamabad) – Cell No: 0336 1517972
- Mr. Asad M. Khan (Islamabad) – Cell No: 0301 1189153
- Mr. Shahzad Mehmood (Lahore) – Cell No: 0304 1927401
- Mr. Rana Asif Altaf (All Regions) – Cell No: 0300 6362042
Conclusion:
Take control of your energy consumption, save money, and contribute to a greener future with Meezan Solar’s Shariah-compliant solar panel financing. Our program offers affordable financing options, expert guidance, and the opportunity to embrace clean energy. Start your journey towards a sustainable lifestyle by switching to solar power with Meezan Bank today!
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