LAHORE – Pakistan has recorded an upward trend in installation of solar systems by household and commercial users as it reduce the monthly electricity bills and cut dependency on national grid.
Normally, a 5 kilowatt solar system is installed by a medium-class household as it can efficiently run an inverter AC, fans, lights and a refrigerator.
A 5KW solar system’s cost ranges between 650,000 and 730,000 depending on the quality of inverter, solar plates and other material.
Meezan Bank offers an interest free installment plan for the 5KW solar system, making it easy for the users to get their own system by paying a certain down payment.
With Meezan Bank, you’ll have access to flexible payment plans, competitive pricing, and expert guidance to help you navigate the process with ease.
Through net metering, excess power generated by solar energy may also be sold back to the national electricity grid, resulting in a greener environment.
The bank provides financing on Islamic concept of Musawamah for salaried class and others. Here we have gathered details of the installment plan for 5KW system for salaried class.
To get the installment plan from Meezan calculator, we have added total cost of the 5KW system as Rs650,000 with 20 percent down payment and three year tenure.
5KW Solar System Installment Plan
Under the plan for solar system with cost of Rs650,000, the applicant will deposit Rs130,000 in wake of down payment and following will be the per month installment schedule:
Installment Month Monthly Payment
May 2025 19,184
June 2025 19,211
July 2025 18,859
August 2025 18,875
September 2025 18,707
October 2025 18,371
November 2025 18,371
December 2025 18,046
January 2026 18,036
February 2026 17,868
March 2026 17,277
April 2026 17,532
May 2026 17,234
June 2026 17,196
July 2026 16,909
August 2026 16,860
September 2026 16,692
October 2026 16,421
November 2026 16,356
December 2026 16,096
January 2027 16,020
February 2027 15,852
March 2027 15,457
April 2027 15,517
May 2027 15,284
June 2027 15,181
July 2027 14,959
August 2027 14,845
September 2027 14,677
October 2027 14,471
November 2027 14,341
December 2027 14,146
January 2028 14,005
February 2028 13,837
March 2028 13,648
April 2028 13,501
The bank will also charge Rs5,000 in wake of processing fee in addition to FED. It will also charge Rs1,000 in wake of the STR fee.
