Meezan Bank is committed to helping you switch to renewable energy with confidence. Their Solar Panel Financing Program offers affordable and accessible options to invest in renewable energy while also saving money on your energy bills ¹.
Key Features of Meezan Bank Solar Financing
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Shariah-compliant financing: Meezan Bank’s solar financing strictly follows Shariah law, which prohibits charging interest (riba). Instead of interest, the bank applies a profit rate directly linked to market trends ².
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Cutting down on electricity bills: By choosing Meezan Solar, customers can potentially slash their monthly electricity bills by half ².
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Competitive pricing and flexible payments: Meezan Bank offers competitive prices for its solar financing, coupled with flexible payment plans. Financing durations range from 1 to 5 years, allowing a maximum financing cap of up to PKR 3,000,000 ².
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Net metering: Through net metering, surplus power produced by solar panels can be sold back to the national electricity grid ².
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Expert guidance: Meezan Bank offers expert guidance to assist customers throughout the solar panel installation process ².
Eligibility and Application Process
To qualify for Meezan Bank’s Solar Financing program, the criteria differ based on the type of applicants. If you’re a salaried individual with a steady job, you need to be a Pakistani national, aged between 20 and 60 years or up to the retirement age at maturity time ².
Costs Involved in Solar Financing
The expenses associated with setting up a solar system in Pakistan encompass various elements, including the costs of solar panels, inverters, installation, and related items ².
Conclusion
Meezan Bank’s Solar Financing program provides a thorough and accessible solution for homeowners in Pakistan seeking to embrace renewable energy. This initiative offers a Shariah-compliant financing plan at a significantly subsidized rate, ensuring both accessibility and affordability