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.
Document Required:
- For Salaried Applicants, Employment certificate (Date of Joining, Salary breakdown, Job Status) Salary slips for last 1 month attested by employer showing requirements of salary break up, date of joining, job status
- For self-employed/sole proprietor applicants: One Year Bank Statement Copies of last 3-year income tax returns Bank Proprietorship Certificate Any other proof One Year Bank Statement Income Estimation Report (where income is not otherwise ascertainable)
- For partnership Firms: Copy of partnership deed, copy of form C, Copy of CNIC of all partners/directors Income Estimation Report (where income is not otherwise ascertainable). Bank’s certificate stating partnership’s credit worthiness and names of partners. Copies of last 3-year income tax returns
Eligibility Criteria
| Salaried Segment | |
| Age: | Minimum 25 years & Maximum is the age of retirement less five years |
| Min. Salary – Local | Minimum Net Monthly income of PKR 100,000/- per month |
| Employment Tenor– (Permanent) | Currently employed with total employment experience of at least 2 years |
| Employment Tenor– (Contractual) | Currently employed with total employment experience of at least 3 years |
| Self-Employed Individuals | |
| Age | Between 25 years to 65 years, at the time of application |
| Income | Verifiable and regular net monthly income of Rs. 100,000/= per month |
| Business Tenure | Min. experience of at least 2 years for SEP Min. experience of at least 3 years for SEB |
Interest Rate:
Enjoy a competitive markup rate of 12% 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.