SOLAR FINANCING
BUY NOW PAY LATER
Purewave, in partnership with top financial institutions, offers you the opportunity to have solar panels installed today and make payments through a convenient installment plan. These bank-backed financing options come with reduced interest rates. You’ll make regular fixed monthly payments to the bank over a specified period, tailored to your needs. This solution empowers you to produce cost-free electricity indefinitely and potentially receive electricity bills at or below zero.
We have a highly trained technical team that will work with you from the moment you express your requirements until your system reaches the end of its lifespan. Our goal is to design a solar system that not only meets your energy requirements but also ensures long-term comfort and financial savings.
We take pride in the quality of our service and we provide our services. Our team of expert solar panel Installations is highly motivated and committed to making your solar panel system run at its optimal level.
SOLAR FINANCE POLICY
We Are Pioneers of The Segment
The State Bank of Pakistan has introduced a program known as “Solar Financing Pakistan.” Under this initiative, individuals can access funding ranging from PKR 500,000 to PKR 10 million. This program aims to assist customers in acquiring solar energy systems in Pakistan through convenient monthly installment plans.
Residential
Commercial
Industrial
Agricultural
We are honored to be the top choice among customers of leading commercial banks for solar system installations. As a result, you too can benefit from this opportunity. Let’s examine the roster of banks offering solar system installment plans in Lahore, Karachi, and all across Pakistan.
JS Bank has consistently been a key contributor to Pakistan’s development and has proactively engaged in the solar financing program introduced by SBP. The bank extends its financial support to customers nationwide, actively fostering the adoption of solar energy. JS Bank customers can readily access solar system installment options in Lahore, Islamabad, Karachi, and various regions across the country.
The programs offered by JS Bank are as follows:
- JS Apna Ghar Solar Financing Program (residential program)
- JS Smart Roshni Program (commercial program)
Features of the Programs
Both of the programs launched by JS Bank have the following similar features:
Financing
Between Rs. 300,000 and Rs. 20 million, depending upon the size of the project.
- Equity min 25% of the total amount
- Mark-up rate – 6% annually
- Financing tenor between 3 and 5 years
Processing fee
Minimum PKR 5,000/- or 0.5% of the loan amount (whichever of the two is higher will be taken)
Insurance
Insurance offered through reputable partners at a preferential rate
Prerequisites to Get Financing:
- An account at JS Bank either Current or Savings
- Fulfillment & signing of the loan application form
- Obtain a quotation for a solar panel system from an authorized dealer
- Two recent passport size photographs
- Copy of CNIC
- CF-1 Undertaking Form to be fulfilled
- JS Solar Panel Key Fact Sheet of the program you have applied for
- Documents showing the ownership of the property along with recent utility bills
- Bank statements of a business or individual account
- Active tax payee with NTN number (especially for businesses)
Eligibility Requirements:
- Possession of a valid Computerized National Identity Card.
- Verification of income through the submission of utility bills for the past year.
- For business applicants, proof of a minimum three-year business history is required.
- Must have an active Bank Alfalah bank account.
Interest Rate:
Enjoy a competitive Mark Up rate of 22% per annum.
Key Scheme Features:
- Flexible Repayment Tenure: Repay your loan over a period of up to five years, with a generous 3-month grace period.
- Tailored Financing Solutions: Benefit from customized financing options designed to meet your unique needs.
- Down Payment: A 20% down payment is required for self-owned premises, while rental or leased facilities require a 25% down payment.
- Residential Customers: For rental premises, residential customers can receive financing of up to 2.5 million.
- Self-Owned Residential Premises: Financing is available for self-owned residential premises exceeding 4 million.
- Small Businesses: Small businesses can access financing above 10 million.
- Maximum Solar System Loan: Bank Alfalah offers a maximum loan limit of 400 million for a single borrower looking to invest in a solar system.
Processing Fee: A non-refundable processing fee is applicable. It amounts to either Rs. 5,000 or 0.2% of the loan amount, depending on which is higher, per application.