What is the monthly installment for a 1 million rupee solar system?

Based on Meezan Bank's official calculator (June 2026): Rs. 1,000,000 system, 25% down payment (Rs. 250,000), 5-year tenure — first monthly payment Rs. 22,012 reducing to Rs. 12,664 by the final month. Total paid over 5 years: Rs. 1,294,438 (Rs. 294,438 more than cash). Use meezanbank.com/solar-panel-calculator for your exact system cost.

Cash vs installment — which is better for solar in Pakistan?

Cash purchase is almost always better financially. A Rs. 900,000 system on 3-year bank financing at 20% annual rate costs approximately Rs. 1,180,000 total — Rs. 280,000 extra. Your solar system saves Rs. 75,000+ per year, so the payback period extends from ~12 months (cash) to ~16 months (financed). If cash flow is the constraint, financing makes sense. If you have savings, cash wins.

Solar Financing Pakistan · 2026 Guide

Solar on Installment
in Pakistan

Q: Can I buy solar on installment in Pakistan?

Yes — several banks offer solar financing in Pakistan including Meezan Bank (Islamic), Bank Alfalah, HBL and National Bank. Tenures range from 1 to 5 years. You typically need a salary certificate or business income proof, a down payment of 20–30%, and the solar company must be on the bank's approved vendor list.

Q: Which bank is best for solar financing in Pakistan?

Meezan Bank is the most transparent — they have a public solar calculator at meezanbank.com showing exact monthly payments. Their effective rate is approximately 15% p.a. (KIBOR-linked). Bank Alfalah, HBL and NBP also have solar financing but rates must be confirmed at branch. Compare the effective annual rate and total cost, not just the monthly payment.

Q: Does Saigal Solar offer in-house installments?

No — Saigal Solar does not offer in-house installment plans. We sell systems on a cash or bank-transfer basis. However, if you have bank financing arranged, we are happy to work within that process. We can provide all documentation required by your bank (quotation, specifications, company registration).

Q: Is the CM Punjab free solar scheme still available?

The CM Punjab Roshan Gharana free solar scheme provides 1.6kW systems to low-income households (BISP beneficiaries). As of 2026, Phase 1 is in progress. This is a grant — not an installment plan — and is administered through BISP, not solar companies. See our blog post for full eligibility details.

Bank financing options, monthly payment estimates, and an honest comparison of cash vs installment for solar in 2026.

Saigal Solar does not offer in-house installments

We sell solar systems on a cash or bank-transfer basis. We do not run our own installment or credit scheme. This page explains what bank financing options exist in Pakistan — and honestly, whether installments make sense for you at all.

Banks Offering Solar Financing in Pakistan

All figures are approximate. Confirm current rates directly with your bank before applying.

Meezan Bank

Verified data

Islamic / Shariah

SchemeMeezan Solar Financing

Profit rate~15% p.a. (KIBOR-linked)

Tenure1–5 years

Down payment25%

Example: Rs.1M, 5yrRs. 22,012 → Rs. 12,664/mo

Total extra costRs. 294,438 on Rs.1M

Calculatormeezanbank.com

UAN111-331-331

Figures from official Meezan calculator, June 2026. Rates vary with KIBOR — check calculator for current figures.

Bank Alfalah

Expensive

Conventional / Fixed Rate

ProductPersonal Loan (not solar-specific)

Rate typeFixed or Variable (personal loan)

TenureUp to 4 years

Rs.850K, 4yr — FixedRs. 32,578/mo → Rs. 1,563,744 total

Rs.850K, 4yr — VariableRs. 31,067/mo → Rs. 1,491,216 total

Extra vs cashRs. 641K–714K (75–84% more)

UAN111-225-111

Fixed rate personal loan — not a dedicated solar product. Much more expensive than Meezan's reducing-balance solar scheme.

HBL

Very Expensive

Conventional / Fixed Markup

ProductPersonal Loan (not solar-specific)

Markup rate35.99% p.a. Fixed

Tenure1 year (shown); up to 5yr

Rs.850K, 1yrRs. 85,179/month

Rs.850K, 3yr (est.)~Rs. 49,000/month

UAN111-425-111

35.99% markup is a personal loan rate. Not recommended for solar financing. Use Meezan's dedicated solar product instead.

NBP

Verified data

Dedicated Solar Products

NBP Roshan Ghar Solar Finance

RateKIBOR + 2% (~13% p.a., floating)

TenureUp to 7 years

Financing80% (20% down) | Rs.400K–5M

CollateralProperty mortgage required

Processing fee2% (max Rs. 20,000)

Early paymentNo penalty ✓

ContactNearest NBP branch

Key takeaway: Meezan (~15% p.a., reducing) and NBP Roshan Ghar (KIBOR+2%, ~13%) are the only dedicated solar products — both cost Rs. 250–320K extra on Rs. 1M over 5 years. Bank Alfalah and HBL personal loans cost Rs. 640–714K extra. If you must finance, use Meezan or NBP. NBP requires property mortgage; Meezan is easier to access but needs you on their vendor list.

Government Scheme

CM Punjab Free Solar Scheme

1.6 kW free solar systems for BISP-registered low-income households. This is a grant — not a loan. Phase 1 in progress across Punjab as of 2026.

Check Eligibility →

Cash vs Installment — The Real Numbers

Based on Meezan Bank's official solar calculator (June 2026) — the most transparent data available. Rs. 1,000,000 system used as the example.

Factor	Cash Purchase	Meezan 3-Year	Meezan 5-Year
System cost	Rs. 1,000,000	Rs. 1,000,000	Rs. 1,000,000
Down payment	Rs. 1,000,000	Rs. 250,000 (25%)	Rs. 250,000 (25%)
First monthly payment	None	~Rs. 31,000	Rs. 22,012
Last monthly payment	—	~Rs. 24,000	Rs. 12,664
Total installments paid	—	~Rs. 997,000	Rs. 1,044,438
Total cost (down + installments)	Rs. 1,000,000	~Rs. 1,247,000	Rs. 1,294,438
Extra vs cash	—	~Rs. 247,000	Rs. 294,438
Annual electricity saving	Rs. 75,000+	Rs. 75,000+	Rs. 75,000+
Payback period	~13 months	~17 months	~18 months

3-year figures estimated; 5-year figures from Meezan Bank calculator. Rates are KIBOR-linked and change quarterly.

Bottom line

Cash saves you Rs. 250,000–300,000. But the extra cost is spread over 5 years (Rs. 5,000/month extra). If tying up Rs. 1M in cash hurts your business more than Rs. 5,000/month does, financing makes sense. If you have the savings sitting idle, cash always wins.

What to Ask Your Bank Before Signing

Is the solar company on your approved vendor list? (Banks often require this)
What is the effective annual rate — not just the headline rate?
Are there early repayment penalties?
Does the financing cover installation costs, or just equipment?
What documentation is needed from the solar company?

We can provide full quotation, specifications, company registration and NTN documents required by any bank.

Ready to know your exact system cost?

Use our free design tool to spec your system and get a detailed quote — whether you pay cash or take bank financing.

Design My System Free WhatsApp Us

Frequently Asked Questions

Can I buy solar on installment in Pakistan? +

Yes — Meezan Bank, Bank Alfalah, HBL and NBP all offer solar financing. You need a salary certificate or business income proof, a 20–30% down payment, and the solar company must typically be on the bank's approved vendor list.

Which bank is best for solar financing in Pakistan? +

Meezan Bank is most popular for Islamic (Shariah-compliant) financing. Bank Alfalah and HBL also have active solar loan products. NBP offers subsidised rates under the SBP green banking initiative. Compare the effective annual rate — not just the headline rate — before deciding.

What is the monthly installment for a 6kW solar system? +

A 6kW hybrid system costs approximately Rs. 850,000 installed. With 20% down (Rs. 170,000) and 3-year financing at 20% annual profit rate, monthly payments are approximately Rs. 26,000. At 5 years, payments drop to around Rs. 18,000 but total cost increases by Rs. 400,000.

Does Saigal Solar offer in-house installments? +

No. Saigal Solar sells on cash or bank-transfer basis only. If you have bank financing arranged, we are happy to work within that process and provide all documentation your bank requires.

Is the CM Punjab free solar scheme still available? +

The CM Punjab Roshan Gharana scheme provides 1.6kW systems free to BISP-registered low-income households. It is a grant, not an installment plan, and is administered through BISP — not through solar companies. Read our full guide.

Cash or installment — which is better for solar? +

Cash is significantly better financially. A Rs. 850,000 system on 3-year financing costs approximately Rs. 1,100,000 total — Rs. 250,000 extra. Your system saves Rs. 75,000+ per year, so payback extends from ~11 months (cash) to ~15 months (financed). If cash flow is genuinely constrained, 3-year financing is reasonable.

Solar on Installmentin Pakistan