Pay monthly for solar
Banks and some installers will spread the cost of a system over three to seven years. Work out what you would pay, check which of them you are likely to qualify for, then send one set of details to all of them at once.
1What would you pay?
A 5 kW system, about Rs 642,720 installed
Rs 16,484a month
over 5 years at 18% · Rs 989,040 paid in total
- Your electricity bill now
- Rs 30,000 a month
- Bill after solar
- Rs 10,144 a month
- Instalment
- Rs 16,484 a month
2Could you get it?
Add your income and we can tell you which of these would actually take the instalment.
Worth applying to. Secured against the system. Most banks require the installer to be on their approved list.
Worth applying to. Faster to approve and needs no approved-installer list, but the dearest money here.
Worth applying to. Advertised at 0%. The cost sits in the sticker price instead, so compare the total, not the rate.
This is a first sift against each lender’s published criteria, not a credit decision. They will look at loans you already have and your repayment history, which we cannot see. So a “worth applying to” here is not an approval, and a “no” is worth arguing with.
What you will be asked for
- • CNIC copy
- • Last 3 salary slips
- • Last 6 months bank statement
- • Recent electricity bill
- • Quotation from an installer on the bank’s approved list
- • Salary account statement (6 months)
- • Letter from your employer
- • Proof of address
- • Post-dated cheques for the instalments
The quotation has to come from an installer the bank approves, and the bank pays that installer directly. The money never passes through your hands, or ours.
3Get real offers
One set of details, sent to everyone above who is likely to take you and to 27 installers in Lahore who run their own instalment plans. They call you with a real rate. Free, and you are committing to nothing.
How we make money on this: we don’t, yet. We are not a lender, a broker or an agent, we hold none of the money and we earn nothing on the rate you are given. Every figure on this page is arithmetic on a published scheme rate. How solar financing works →