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Go Green with Bank AL Habib Renewable Energy Solution and overcome the challenge of Energy Shortage.

Bank AL Habib provides a solution to address the electricity crisis. Installation of renewable energy solutions offers various benefits including a net amount on your investment. The energy generated from these projects may be for own use or supplied to the distribution company.

All of the above benefits can be materialized by applying under the Category-II financing scheme for Renewable Energy, to generate electricity up to 1 M for residential consumption.

Key

Product Features

Category: To cater to the energy needs of an individual customer, looking to install solar energy solutions to generate electricity up to 1000 KW.

  • Financing amount: Maximum Financing limit for up to Rs 2,500,000/-
  • Allowed capacity: From 1KW upto 1000KW
  • Markup rate: 6% per annum (fixed)
  • Down Payment: 15% by the Customer
  • Installment: Repayment in equal monthly installments (three month’s grace period will be given and only markup will be recovered)
  • Partial payment: Allowed without any charges
  • Full payment/Early Settlement: Allowable without any charges
  • Unit/Project payment will be made to manufacturers/suppliers/contractors only by the bank
  • Insurance: Mandatory Insurance of the unit installed.
  • The loan shall be available for installation of only brand new units/project under this category
  • Vendor Criteria: Only Alternative Energy Development Board (AEDB) approved vendors will be allowed to install a net metering system List of approved vendors
  • Note: All charges like processing fee, legal, property & valuation charges, and any other charges will be applicable as per the prevailing bank’s schedule of charges
    • Pakistani Nationals
    • Minimum age should be 25 years. The maximum age at the time of loan maturity should not exceed 60 years for salaried employees and 65 years for Businesswomen / Self Employed Professionals (SEP)
    • Property where the unit/project will be installed should be in the name of borrower either primary or co-borrower. However, spouse can be made as co-borrower(s)
    • Salaried individuals must be permanent employees for at least 2 years
    • Three years minimum business tenure for Businesswomen and 2 Years minimum business tenure for SEP
    • Minimum net take-home salary should be at least Rs.60,000/- and for Businesswomen / SEP Rs.100,000/- per month
    • Duly filled Bank’s prescribed Loan Application Form
    • Copy of valid Computerized National Identity Card
    • Photographs – Passport size 3 recent
    • Undertaking of Existing Liabilities. (if any)
    • (CF-1) duly filled by the applicant
    • Letter of Understanding
    • Employment Letter with current designation, salary & date of joining
    • Salary Slips – Latest 3
    • Bank Account Statement – Latest 12 months
    • Information of two references and copies of their valid CNICs
    • Any other valid proof of income acceptable to the bank
    • Price Quotations of the Unit/Project with similar specifications from 2 different vendors (as per the vendor’s criteria defined above)
    • Feasibility report/finalized proposal from the client’s selected vendor, for the proposed renewable energy project
    • If the borrower is opting for net metering, certification from the Alternative Energy Development Board and Pakistan Engineering Council is required
    • Duly filled Bank’s prescribed Loan Application Form
    • Copy of valid Computerized National Identity Card
    • Photographs – Passport size 3 recent
    • Undertaking of Existing Liabilities. (if any)
    • (CF-1) duly filled by the applicant
    • Letter of understanding
    • Acceptable Business Proof (e.g. Tax Returns, NTN, Certificate / Bank Certificate)
    • Bank Account Statement – Latest 12 months’ Information of two references and copies of their CNICs
    • Price Quotations of the Unit/Project with similar specifications from 2 different vendors. (as per vendor’s criteria defined above)
    • Feasibility report/finalized proposal from the client’s selected vendor, for the proposed renewable energy project
    • If the borrower is opting for net metering, certification from the Alternative Energy Development Board and Pakistan Engineering Council is required
  • No, only new units will be financed

  • Mark up rate is 6% per annum

  • Yes, if the vendor or supplier is authorized and approved by

    • Alternative Energy Development Board (AEDB)
    • Pakistan Engineering Council (PEC)
  • Insurance companies having corporate arrangements with Bank AL Habib will provide the insurance services.

  • The maximum period is 10 years including 3 months grace period.

  • Under category, II allowed capacity for the project is 1 KW to 1000 KW.