Meezan Bank has embarked on a new initiative to cater to its customers in accordance with Sharia principles. Their financing program for solar panels ensures access to renewable energy through convenient payment plans and reasonable prices. With this system aligned with Shariah guidelines, you can now install solar panels without any interest charges. By availing of this opportunity, you can reduce your electricity bills by up to 50%.
Solar-powered homes are an ideal solution for generating electricity while contributing to a cleaner environment. Additionally, any excess power generated through net metering can be sold back to the national electricity grid.
Meezan Bank solar panel offering provides you with an affordable and accessible means to invest in renewable energy. By partnering with Balance Bank, your payment plans become more competitive, allowing you to save on electricity costs. Furthermore, expert guidance will be available to assist you with pricing throughout the entire process.
Meezan Bank Interest-Free Solar Panel Eligibility Criteria
To be eligible for this program, you must meet the following criteria:
1. Employment: You should be a salaried individual with a permanent job.
2. Nationality: You must be a Pakistani citizen and a permanent resident with a national identity card.
3. Age: The minimum age requirement is 20 years, and the maximum age is 60 years to apply for this program.
4. Co-applicant’s Age: The co-applicant’s age should not exceed 75 years.
5. Employment Status: Your job must be permanent.
6. Income: Your minimum salary should be one lakh.
7. Job Tenure: You should have been employed continuously for at least two years.
8. Taxpayer: You must have received a tax recipient for one year and possess an NTN (National Tax Number).
9. References: At least two certificates of reference will be required.
10. Meezan Bank Account: If you do not currently have an account with the bank, one will be opened for you to avail of the financing offer.
The solar panel system’s cost, specifications, and all relevant information are as follows:
- Costs Involved
- Type of Charges Amount
- Processing Charges PKR 5,000 + FED
- Documentation Charges Actual Cost
- Late Payment Charges None
- Meezan Energy Partner Survey Charges Actual Cost (if applicable)
- Termination You have the option to terminate the agreement at any time by paying the remaining installments.
- STR Fee PKR 1,000
How to Apply for Meezan Bank Interest-Free Solar Panel?
To apply for this program, follow these steps:
1. Visit your nearest Balance Bank branch, or call the helpline at 111-331-331/111-331-332 to obtain all the necessary information.
2. Obtain a quotation from Solarjee Partner, authorized by Meezan Bank.
3. Submit a signed application form, a copy of your CNIC (Computerized National Identity Card), and a recent electricity bill.
4. You will receive a form, which can also be downloaded online or obtained from the bank.
5. Fill out the form and submit it at your nearest Balance Bank branch.
Meezan Solar Required General Documents:
1. Proof of property ownership
2. Current electricity bill
3. Properly filled application form
4. Copy of valid CNIC
5. Photographs (1)
6. Signature verification form
7. Declaration of financing
8. A valid quotation from Meezan Bank’s authorized Solar Vendor
For Salaried Applicants:
1. Latest payslip
2. Employment letter
3. Proof of date of joining (DOJ)
4. Proof of employment status
5. 6 months’ bank statement
6. Audited financials and letters from the company (if the applicant is a paid director)
For Self-employed Businessman Applicants:
a. NTN (National Tax Number)
b. Bank proprietorship letter
c. Tax returns
a. Partnership deed (latest and previous, if applicable)
b. Certificate of the registrar of firms (if the firm is registered)
c. 6 months’ bank statement (of the firm or the applicant partner)
a. Memorandum of Articles
b. Association of Articles
c. Certificate of Incorporation
d. Latest Form-A
e. Latest Form-29
f. Audited Financials
g. 6 months’ bank statement (of the company or the applicant director)
For Pensioner Applicants:
1. Copy of pension book/certificate issued by AGPR (Accountant General Pakistan Revenues) or the provincial office of the accountant general.
2. 6 months’ bank statements reflecting net pension credited to the account.