Posted by Solar Panel Loan
Solar Panel Loan: Meezan Bank solar panel loan is an attractive and very useful interest-free financial loan scheme to promote solar energy adoption to get freedom from the billing scheme of Wapda. This Solar Financing program contributes to natural and environmental sustainability and reduces reliance on traditional power sources. This program is here to promote the mode of power generation by the natural processes which is the cheapest and best way of power generation.
How to Get a Solar Panel Loan
This program suits the people who are worried about paying the huge bills of electricity and can not pay the huge amount of the electricity bills. With this program, anyone can get up to 25 lacs to make the supply systems of home appliances with solar plates. We will guide every aspect of the procedure of getting this loan in this article. If you are willing to get this loan by the 25 lacs interest-free Loan from Meezan Bank.
Meezan Bank Solar Loan | Solar Panel Loan
1. Amount for the Installation
Meezan Bank provides an impressive and handsome amount as interest-free loans from 3 Lacs to 25 Lacs rupees for solar panel installations. By this amount, you can install a good system of solar panels for overall home appliances.
2. Range of Solar Panels
This system provides a huge system ranging from 1 KW to 1000KW. The Meezan Solar Panel Plant covers a huge and diverse spectrum of capacity requirements. By this range, you can run the total appliances of the home. And you can also run a system of departments or offices by this range of power supply i.e the school, academy or a plaza, etc.
3. Eligibility
This 25 Lacs interest-free loan from the Meezan Bank initiative has diverse and huge eligibility criteria, including businessmen, daily wagers, workers, Government employees, entrepreneurs, pensioners, and self-employed individuals. This Program can help them to cut down their electricity expenses by up to half or less than half.
4. Financial Consultations
Meezan Bank provides a complete proper financial consultation to help applicants to understand the benefits, terms, and eligibility criteria.
5. Maintenance Expenses
This financing loan program covers not only the cost of solar panels but also installation and maintenance expenses. You can also install solar panels with this program of interest-free Loan from Meezan Bank.
6. Application Process
You can apply for this solar panel loan from Meezan Bank through a straightforward application process. You can apply for this program by visiting the Meezan Bank branch or contacting the online helpline.
7. Repayment Options
The Meezan Bank offers flexible and easy repayment options, allowing applicants to choose their favorite payment plans that suit them best, with the option to extend the duration up to a maximum of 5 to 6 years.
8. Interest-Free Program For Solar Panel Loan
Meezan Bank has started its interest-free solar panel loan program to benefit the public from the latest technological advancements in solar energy in a natural way, making it a financially attractive and best option for the people.
Primary Features of the Solar Panel Loan Program
The loan amount for the solar system: The loan amount for the Solar Panel Interest-free program by Meezan Bank ranges from Rs. 100,000 to Rs. 2,000,000 (25 Lacs max).
Setup Potential: 1KW-1000KW.
Investment Plan for Solar Installation: Shariah Compliant (Musawamah).
Repayment time duration: The repayment period for solar panel loans ranges from 12 months to 60 months (1 year to 6 years max).
Eligibility Criteria for Solar Panel Loan From Meezan Bank
To apply for this interest-free solar panel loan program from Meezan Bank, applicants must meet the following eligibility criteria:
Nationality:
Applicants must have a valid CNIC with Pakistani nationality. Outsiders can not apply for this program.
Age Limit
The primary applicant’s age must range from 20 to 60 years.
Co-Applicants Age
Co-applicants’ age should be a maximum of 75 years. Applicants out of the age of 75 years will not be eligible for the interest-free loan from Meezan Bank.
Salary of Primary Applicants
The monthly gross pay (salary) of the primary and Co-applicant should be at least Rs. 100,000.
Contractual Staff
The monthly gross pay (salary) salary of contractual staff with a five-year work history should be at least Rs. 150,000.
Salary of Business Applicants
The monthly gross pay (salary) of business applicants should be at least Rs. 400,000.
Pension of Pensioners
The monthly gross pension of pensioners should be at a minimum of Rs. 90,000.
Guarantors
The applicant is obligated to offer a minimum of two guarantors. If applicants can not engage two guarantors, he is not eligible to apply for this Program of Interest-Free solar loan from Meezan Bank.