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Solar system latest installment plan with Meezan Bank: details inside

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Staff Reporter

LAHORE: People have been compelled to convert to solar energy to reduce their reliance on the national grid due to rising electricity costs and load shedding during the summer.

Installing a solar system for personal or business use provides electricity 24/7 to save the owners from additional taxes on bills.

You can install the solar system keeping in view the needs as it is available in different capacities.

5kw solar system price in Pakistan

Residential clients are the ones who install most 5-kilowatt on-grid solar systems because of their cost and capacity.
A 5kva solar system in Pakistan typically costs around Rs770,000, depending on the caliber of the inverter, framework, solar panels, and other parts.

The 5KW solar system can power a fridge, fans, lights, and a 1.5-ton air conditioner.

5kw solar system Installment Plan with Meezan Bank

Financing for full solar panel systems for your house is available from Meezan Bank. By taking advantage of an interest-free solar financing option, you can reduce your monthly electricity bill by up to 50%.

For the 5 kW solar system, they have chosen an expected payment plan of Rs 800,000 to be paid over time. The three-year payment schedule, which includes a 25% advance payment for salaries individual, is as follows:
A down payment of Rs 200,000 will be paid by the applicant, with the remaining payments starting at Rs 27,860 and ending at Rs 16,998.

 

Tentative Payment Schedule
Installment # Installment Month Monthly Payment
1 July 2024 27,860
2 August 2024 27,912
3 September 2024 27,591
4 October 2024 26,927
5 November 2024 26,948
6 December 2024 26,305
7 January 2025 26,305
8 February 2025 25,984
9 March 2025 24,792
10 April 2025 25,342
11 May 2025 24,751
12 June 2025 24,699
13 July 2025 24,129
14 August 2025 24,056
15 September 2025 23,735
16 October 2025 23,196
17 November 2025 23,093
18 December 2025 22,574
19 January 2026 22,450
20 February 2026 22,129
21 March 2026 21,310
22 April 2026 21,486
23 May 2026 21,020
24 June 2026 20,843
25 July 2026 20,398
26 August 2026 20,201
27 September 2026 19,880
28 October 2026 19,465
29 November 2026 19,237
30 December 2026 18,843
31 January 2027 18,594
32 February 2027 18,273
33 March 2027 17,827
34 April 2027 17,631
35 May 2027 17,289
36 June 2027 16,988

3.6kw solar system price in Pakistan

The prices of the 3.6 kW solar system in Pakistan range between Rs450,000 to Rs550,000, depending on the quality of the components.

This setup is enough to run a 1-ton AC, fridge, fans, and lights.

3.6kw solar system Installment Plan with Meezan Bank

We have selected a tentative amount of Rs550,000 to get the installment plan for the 3.6kw system.

Solar Panel Payment Plan Summary
Category: Salaried
Quotation Amount: Rs. 550,000
Down Payment: Rs. 137,500
Tenure: 3 Years
Tentative Payment Schedule
Installment # Installment Month Monthly Payment
1 July 2024 19,154
2 August 2024 19,189
3 September 2024 18,969
4 October 2024 18,513
5 November 2024 18,527
6 December 2024 18,085
7 January 2025 18,085
8 February 2025 17,864
9 March 2025 17,045
10 April 2025 17,422
11 May 2025 17,016
12 June 2025 16,981
13 July 2025 16,589
14 August 2025 16,539
15 September 2025 16,318
16 October 2025 15,947
17 November 2025 15,876
18 December 2025 15,520
19 January 2026 15,434
20 February 2026 15,213
21 March 2026 14,651
22 April 2026 14,772
23 May 2026 14,451
24 June 2026 14,330
25 July 2026 14,023
26 August 2026 13,888
27 September 2026 13,667
28 October 2026 13,382
29 November 2026 13,225
30 December 2026 12,955
31 January 2027 12,784
32 February 2027 12,563
33 March 2027 12,256
34 April 2027 12,121
35 May 2027 11,886
36 June 2027 11,679

Is solar panel available on installments?

Yes, various banks, including Meezan Bank, JS Bank, Askari, HBL, Alfalah, are offering installments plans for solar systems.

Which bank is financing solar systems in Pakistan?

All major banks including Allied Bank, Meezan Bank, JS Bank, Askari, HBL, and Alfalah, are offering financing for solar systems.

What is the cost of 5kW solar system in Pakistan?

Roughly, the price of a 5kva solar system in Pakistan starts from Rs770,000 depending on the quality of solar panels, inverter, structure, and other components.

Staff Reporter

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