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MEEZAN SOLAR

Power Your Home with Shariah-Compliant Solar Panel Financing

At Meezan Bank, we believe that clean energy is the way forward, and we're committed to helping you make the switch with confidence. Our Solar Panel Financing Program is designed to provide you with affordable and accessible options to invest in renewable energy while also saving money on your energy bills. With Meezan Bank, you'll have access to flexible payment plans, competitive pricing, and expert guidance to help you navigate the process with ease.

Meezan Solar offers financing of complete solar panel systems for your home. You can lower your monthly electricity bill by up to 50%, by availing an interest-free solar financing solution. Meezan solar is ideal for homeowners for generating their own source of power. Through net metering, excess power generated by solar energy may also be sold back to the national electricity grid, resulting in a greener environment.

Note: Solar Panel financing will be exclusively available in Karachi, Lahore and Rawalpindi/Islamabad

eligibility criteria

Eligibility Criteria

Salaried Individual (Permanent Job)
  • Nationality: Pakistani, adult, permanent resident, CNIC holder
  • Age of applicant: Minimum 20 years and maximum 60 years or up to the age of retirement at the time of maturity
  • Age of co-applicant: Maximum 75 years
  • Employment status: Must be permanent
  • Income: Minimum monthly gross salary PKR 100,000
  • Job Tenure: Current employment for at least 2 continuous years
  • Income assessment: Through payslip, bank statement, appointment letter, employment letter and / or audited financials (in case applicant is a paid director)
  • Tax payee: Must be an active tax payee with NTN number
  • Credit checks: Bank will conduct bureau checks and will conduct verification of residence and office / business place
  • References: Two references required
  • Financing for flats: Financing for flats / apartments is not available.
  • Account in Meezan Bank: Mandatory. If applicant currently does not have any account in Meezan Bank, it will be opened to offer financing.
  • Maximum Debt Burden Ratio (DBR):
    • 40% for new to industry or having a credit history less than 12 months
    • 45% for customers having established history of 12 months or more
Salaried Individual (Contractual Job)
  • Income: Minimum monthly gross salary PKR 200,000
  • Job Tenure: 03 years at current employer and overall, 05 years of experience. Contract must be with direct company, third party contracts are not eligible
  • Other aspects: Same as aforementioned for permanent job
Business Individual
  • Nationality: Pakistani, adult, permanent resident, CNIC holder
  • Age of applicant: Minimum 30 years and maximum 65 years at the time of maturity of financing
  • Age of co-applicant: Maximum 75 years
  • Income: Minimum monthly gross income PKR 500,000
  • Business Tenure: At least 05 years
  • Income assessment: Through Bank statement, Audited Accounts, Tax returns. Etc
  • Tax payee: Must be an active tax payee with NTN number
  • Credit checks: Bank will conduct bureau checks and will conduct verification of residence and office / business place
  • References: Two references required
  • Financing for flats: Financing for flats / apartments is not available.
  • Account in Meezan Bank: Mandatory. If applicant currently does not have any account in Meezan Bank, it will be opened to offer financing.
  • Maximum Debt Burden Ratio (DBR):
    • 30% for new to industry or having a credit history less than 12 months
    • 35% for customers having established history of 12 months or more
Pension Income
  • Nationality: Pakistani, adult, permanent resident, CNIC holder
  • Age of applicant: Maximum 70 years at the time of maturity of financing
  • Age of co-applicant: Maximum 75 years
  • Employment status: Retired* pension holder
  • Income: Minimum monthly gross pension PKR 100,000
  • Income assessment: Through pension book, pension bank statement, documents shall be required from a salaried individual if applicant is still working and getting retired in financing period, etc.
  • Tax payee: Must be an active tax payee with NTN number
  • Credit checks: Bank will conduct bureau checks and will conduct verification of residence and office / business place
  • References: Two references required
  • Financing for flats: Financing for flats / apartments is not available.
  • Account in Meezan Bank: Mandatory. If applicant currently does not have any account in Meezan Bank, it will be opened to offer financing.
  • Maximum Debt Burden Ratio (DBR):
    • 40% for new to industry or having a credit history less than 12 months
    • 45% for customers having established history of 12 months or more

* For an applicant who is currently on job and is getting retired within the financing period, financing may be allowed for a tenure in which min 75% installments should be paid within employment period and 25% after retirement.

Note: In line with State Bank of Pakistan's regulatory requirement, negative history (i.e. overdue/ late payment/ write-off/ waiver) of consumer/individual customers will be reflected in eCIB reports for two years after settlement.

Product Details

  • Islamic Mode: Financing to be provided on Islamic concept of Musawamah
  • Installment: Un-equal monthly installments
  • Discount: Special Discount will be offered to Premium Customer
  • Financing Tenure: Minimum 12 months (1 year) and Maximum upto 60 months (5 years)
  • Allowed Capacity: From 1KW upto 1000KW
  • Financing Amount: Minimum PKR 100,000 and Maximum up to PKR 2,500,000*
  • Security Collateral: HPA on solar panel and 3 cheques
  • Residence Ownership: Property where solar has to be installed must be owned by applicant. If the place is owned by an immediate family member**, in such case house owner(s) will become co-applicant***. In case of 2 or more owners of property, each and every owner will become co-applicant.
  • Co-applicant: In case of co-applicant there will be no income requirement from co-applicant
  • On-Grid System Down Payment
    • With credit history 12 month - Minimum 15% maximum up to 50%
    • With credit history < 12 months - Minimum 30% maximum up to 50%
  • Off-Grid System (No Net Metering) Down Payment
    • Minimum = 30% and maximum up to 50%.
  • Takaful / After sale: Risk & reward will be transferred to customer after execution of Musawamah contract, so any damage/loss/malfunction/after-sale services will be between financing customer & selected energy partner of the Bank.

* For Meezan Bank Premium Banking customers maximum financing is up to PKR 3,000,000
** Immediate family members include parents, spouse, siblings and children
*** Applicant must be residing at provided address

Use our Calculator to Determine your Payment Plan!

Solar Panel Payments Calculator

Costs Involved

As per latest Schedule of Charges

Type of Charges Chargers
Processing Charges PKR 5,000 + FED
Documentation charges At Actual
Late payment charges Nil
Meezan Energy Partner survey charges At Actual (if any)
Termination Can be terminated anytime by paying remaining installments
STR Fee PKR 1,000
What is included: Financing amount may include cost of solar panels, inverters, and other ancillary items such as wiring and equipment along with the installation cost.
What is not included: Batteries will not be financed in both on-grid and off-grid systems. Similarly, cost of “net metering” to be borne by the customers and its arrangement will also be a matter between selected Meezan Energy Partner and the Customer.

How to Apply

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 quotation from Energy Partner authorized with Meezan Bank (list provided below).
  • Submit a copy of your CNIC, signed application form (provided below), along with copy of latest electricity bill.
  • Open an account with Meezan Bank for availing financing in minimal time.

Contact our Dedicated Representatives

(Monday to Friday between 9am to 6pm)
Representative

Mr. Azeem Ullah

Cell No : 0331 2592705

Karachi / Hyderabad

Representative

Mr. Faisal Iqbal

Cell No : 0331 2674004

Karachi / Hyderabad

Representative

Mr. Nadeem Rahim

Cell No : 0336 1517972

Islamabad / Rawalpindi / Peshawar

Representative

Mr. Asad M. Khan

Cell No: 0301 1189153

Islamabad / Rawalpindi / Peshawar

Representative

Mr. Shahzad Mehmood

Cell No: 0304 1927401

Lahore

Representative

Mr. Awais Butt

Cell No: 0336 6541846

Faisalabad

Representative

Mr. Rana Asif Altaf

Cell No: 0300 6362042

Multan

Would you like more information?

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