- • Monthly Savings
- • Reduced Billing
- • Shariah Compliant
- • Finance term of up to 7 years
- • Finance up to PKR 5.00 million
- • Customer participation 20% (minimum)
- • Partial settlement allowed (up to 25%)
- • No upfront installments
- • Minimum working experience 2 years in continuity with at least 6 month with the current employer.
- • Minimum net monthly income of Rs.55,000/-
- • Age between 22 to 60 years (of age at the time of finance maturity).
- • In business / practice for a minimum period of 3 years in continuity.
- • Minimum net monthly income of Rs.80,000/-
- • Nature of business to be in conformity / ambit of the Shariah guidelines.
- • Age between 22 to 65 years (of age at the time of finance maturity).
Application processing Solar Equipment finance is subject to receiving of list of following documents mentioned here as under,
A. General List of Documents
- a) Application form duly filled and signed by the applicant
- b) Copy of Valid CNIC
- c) Two recent passport size photographs
- d) Copy of Property Ownership Proof
- e) Or any other document may refer/require by Credit Department
- f) Copy of Current/Last Electricity Bill paid.
- g) Before disbursement, 2 (Two) Customer cheques of personal account will be taken from every customer as security. Amount of each cheque will be equal to 50% of finance Amount.
B. For Salaried List of Documents
- a) Original Or Certified/stamped Copy of Monthly salary slip and employment certificate
- b) Original Or Certified /stamped copy of last six Months Bank statement
- c) In case of Salaried Director Certified letter of Company will be required.
C. For Self Employed Business Person/ Professional:
i. In case of Sole Proprietorship:- a) Bank certificate mentioning date of account opening, name of business and name of customer.
- b) Tax Returns of Business is optional if Personal Tax Return is provided by Applicant.
- c) Original Or Certified/stamped Copy of 1 year personal bank Statement. Business bank statements in case of proprietorship can be accepted.
- a) Bank certificate mentioning date of account opening, name of business and name of the customers.
- b) Copy of the Partnership deed is mandatory
- c) Tax Returns of firm is optional if Personal Tax Return is provided by Applicant.
- a) Attested copy of Registered Certificate of Incorporation, Form-29 and Form-A. In the case of a Salaried Director, a Salary Slip/Certificate duly verified by the company will suffice.
- b) 2 (two) customer cheques of a personal account will be taken from every customer as a security. The amount of each cheque will be equal to 50% of the finance amount.
- c) Original or Certified/Stamped Copy of the latest 1-year personal bank statement
D. Remittance Income:
- a) Original Or Certified/stamped Copy of 1 year bank statement(with Branch Certified Account Maintenance Certificate) OR 1 year remittance slips
- b) If foreign remittance slips are duly verified then it should be considered irrespective of Exchange Company.
- c) Remittance should appear in each month of last 1 year else Level 2 approval required.
- d) Remittance in favor of, Wife, Brother, Father, Mother, Son and Daughter is acceptable only.
- e) 12(Twelve) remittances in a year required irrespective if there is any dip of single month or more than a month in a year. For example if customer sends remittance two or three times in a month and next month he does not send the remittance so this dip shall not be counted in order to count 12 (Twelve remittances) in a year.
E. Rental Income:
- a) Original Or Certified/stamped Copy of 6 months bank statement (with Branch Certified Account Maintenance Certificate)
- b) Valid Rent agreement with property ownership documents preferred.
- c) In case rental transaction not appearing in 2 months than 1 year bank statement is require
- d) In case of rent received in cash case will be processed on deviation L-III
- e) If Rent is not reflecting in the Bank Statement then physical confirmation is required
F. Pension Income
- a) Copy of pension book(if available) duly original seen (by RM/ASM/RSM)
- b) For most of the Pensioners practice of pension book has been discontinued as pension gets transferred into pensioner bank account opened.
- c) Original Or Certified/stamped Copy of 6 months bank statement (with Branch Certified Account Maintenance Certificate) would be require if pension is opted to credit in bank statement
- d) Minimum 6 pension evidence would be required
- e) Income to be assessed from the income documents provided as per segment
- f) If pension income is primary income than minimum requirement is Rs, 50,000 else if being clubbed than no such requirement
G. Saving Certificate / Term Deposit (TD):
- a) 6 months saving certificates evidence letter from National Savings for the same would be required. Since Profit disbursement of Saving Certificates disbursement mode is cash therefor it needs to be observed accordingly. Therefore bank statement would not be required for Saving Certificates
- b) For Term Deposit original /certified stamp copy of 1 year bank statement(with Branch Certified Account Maintenance Certificate ) required
- c) Certificate / TD in favor of Co-Applicant is acceptable with proof of relationship
| S.No | Items Description | SEB/SEP (Fresh)/Salaried/ Remittance/Rental/ Pension Income | Current Spread Rate | After Discount Spread Rate | |||
|---|---|---|---|---|---|---|---|
| Persons with Disabilities | Women (Salaried/SEB/SEP) | ||||||
| 1 | Profit Rate Discount | Obligor Risk Rating 1-5 | 4.00% | 2.50% | 3.50% | ||
| Obligor Risk Rating 6-7 | 5.00% | 2.50% | 3.50% | ||||
| 2 | Application Pickup from the location of Applicant | Yes | Yes | ||||
| 3 | Application processing on priority is subject to completion of documents received | Yes | Yes | ||||
Note: All applicable charges of Consumer Solar Finance may refer to applicable Schedule Of Charges (available at all our branches & website).
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