Sindh Interest-Free Solar Loan Online Apply: Check Details

Sindh Interest-Free Solar Loan Online Apply: Check Details

Sindh Interest-Free Solar Loan Online Apply: Check Details
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Sindh Interest-Free Solar Loan: Interest-Free Solar Loan: In a landmark move to promote sustainable energy and combat energy poverty, the Sindh government has introduced an interest-free solar loan project aimed at the middle class. This project aims to make solar energy easy to get and cheap, which will greatly enhance the lives of many people.

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Project Highlights:

  • Budget & Scope: The government has allocated Rs. 5 billion to this project, with plans to distribute 200,000 solar panels. Under this scheme, the government will cover 80% of the cost, while recipients will only be responsible for the remaining 20%.
  • Target Beneficiaries: The initiative targets 500,000 households currently lacking access to electricity, providing them with a reliable and sustainable energy source.
  • Additional Plans: Beyond individual solar panels, the government will establish solar parks and mini-grid stations across the province, including Karachi.
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Loan Features through Sindh Bank:

  • Simple Documentation: The application process requires minimal documentation.
  • Quick Processing: Loans are processed quickly and without hassle.
  • Flexible Terms: Affordable markup rates, flexible financing, and options for partial and premature adjustments.
  • Comprehensive Solutions: Both on-grid and off-grid solar solutions are available.
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Eligibility Criteria:

  • Citizenship: Pakistani and AJK citizens with a valid CNIC.
  • Property Ownership: Applicants must own the premises where the solar system will be installed.
  • Credit History: Applicants must have a clean ECIB/CCIB/Data Check.
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  • Bank Account: An account with Sindh Bank is required.

Age Criteria:

  • Salaried Individuals: Up to 60 years at loan maturity.
  • Self-Employed Professionals/Businessmen: Up to 65 years at loan maturity.
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  • SME & Agricultural Borrowers: As per bank policy and approval terms.

Loan Details:

  • Loan Limits:
  • Salaried Individuals: Rs. 100,000 to Rs. 5,000,000
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  • SEP/SEB/Agri Borrowers: Rs. 100,000 to Rs. 20,000,000
  • SME Borrowers: Up to Rs. 100,000,000, based on financial strength.
  • Financing Tenor: Up to 7 years.
  • Down Payment: Minimum 15% of the solar system cost.
  • Repayment Terms: Monthly, quarterly, or semi-annual installments.
  • Solar System Capacity: From 1KW to 400KW.
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Required Documents:

  • Filled and signed application form.
  • Valid CNIC of applicant and co-applicants.
  • Recent photographs of applicant and co-applicants.
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  • Last paid utility bills of the premises.
  • Borrower’s Basic Facts Sheet.
  • Account statement of the last year.
  • Last 3 months’ salary slips for salaried individuals.
  • Pension card/certificate for pensioners.
  • Biometric verification.
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  • Business-related documents for SMEs.
  • Agricultural documents for agri borrowers.
  • Any other documents as required.

How to Apply:

If you’re interested, you can call the Sindh Bank helpline or go to a branch nearby to get help and start your application.

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The Sindh government’s effort is a big move to decrease energy poverty and support renewable energy, bringing sustainable living within reach for many people in the province.

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