Solar System on Installments in Lahore: Complete Guide
If the upfront cost of solar panels has been stopping you, there’s good news.
As of 2025, more than a dozen banks now offer affordable solar loans.
You can borrow anywhere from ₨. 500,000 to ₨. 10,000,000 with interest rates capped at just 6% and repayment plans spread over 10 years.
Whether you’re running a shop in Anarkali or living in Shahdara, Gulberg, Johar Town, or DHA — now is the perfect time to go solar without stretching your budget.
Key Questions to Ask Before Picking a Bank
If you’ve ever dealt with banks in Pakistan, you know the fine print can get confusing fast.
Solar financing is no different. Not all banks lay out the full picture. Some skip over important details until you’re already committed.
That’s why asking the right questions is a must:
- Are there any hidden fees I should know about?
- Is insurance part of the deal? What exactly does it cover?
- Does the loan include all costs—solar panels, inverter, installation, and net metering?
- What are the exact repayment terms and conditions?
A little clarity now can save you a lot of trouble later.
What’s the Real Cost of a Solar Loan?
When you take a solar loan, remember—you’re not just paying for the solar system, you’re also paying for the cost of borrowing.
Let’s say you install a 3kW system. Your monthly payment could range between PKR 18,000 to 24,000 for a 3-year loan.
Most banks apply around a 6% markup, and some may add insurance charges. This means your total cost can increase by 15–20% compared to an upfront purchase.
Is it still a good deal? Yes—if you budget wisely and fully understand the terms.
HBL Solar Financing
HBL’s Solar Financing Scheme supports projects across Lahore, offering customized loan amounts based on system capacity (1 kW to 1 MW).
| Feature | Details |
|---|---|
| Loan Amount | ₨ 500,000 – ₨ 10,000,000 |
| Interest Rate | 6% fixed (SBP-compliant) |
| Repayment Tenure | 10 years, 3-month grace period |
| Eligibility | Property ownership, CNIC, 6-month bank statements |
HBL prioritizes industrial and agricultural clients in Lahore, with loan disbursement tied to certified solar providers like Sympl Energy5.
Bank Alfalah Solar Financing
Bank Alfalah’s “Solar Energy Term Finance” facilitates installations from 4 kW to 1 MW, emphasizing net-metered systems.
| Feature | Details |
|---|---|
| Loan Amount | Up to ₨15 million for commercial projects |
| Interest Rate | 5.5–6% (below SBP cap) |
| Repayment Tenure | 7 years, quarterly installments |
| Special Feature | Collateral-free loans for residential systems under 10 kW |
The bank partners with Delta Energy for technical evaluations of Lahore-based installations3.
Meezan Bank Solar Financing
As Pakistan’s largest Islamic bank, Meezan offers Sharia-compliant solar financing through diminishing musharaka agreements.
| Feature | Details |
|---|---|
| Loan Amount | ₨1–20 million |
| Profit Rate | 7% (includes 1% administrative fee) |
| Tenure | 5–8 years4 |
| Eligibility | NTN registration for businesses, property tax receipts |
Meezan’s Lahore branches report a 40% increase in solar loan applications since 2024, driven by mosque and school electrification projects4.
Bank of Punjab (Shamsi Tawanai Scheme)
The Bank of Punjab’s flagship program focuses on residential and SME solar adoption in Lahore.
| Feature | Details |
|---|---|
| Loan Range | ₨300,000 – ₨5 million |
| Interest Rate | 5% (subsidized for first 3 years) |
| Repayment | Monthly installments over 8 years |
| Unique Benefit | Free maintenance for 1 year via partner vendors |
JS Bank (Smart Roshni Initiative)
JS Bank’s program targets Lahore’s middle-income households with streamlined approvals.
| Feature | Details |
|---|---|
| Loan Cap | ₨ 2.5 million |
| Interest Rate | 6% fixed |
| Tenure | 5 years |
| Processing Time | 72-hour approval for pre-qualified customers |
Soneri Bank Solar Financing
Soneri Bank offers tiered financing, distinguishing between residential and commercial projects.
| Feature | Details |
|---|---|
| Residential Loans | ₨3 million (hypothecation only) |
| Commercial Loans | ₨3–5 million (additional collateral required) |
| Interest Rate | 7% (commercial), 6% (residential) |
| Tenure | 3–10 years |
UBL Solar Financing
UBL offers a comprehensive solar financing program aimed at individuals, businesses, and agricultural borrowers.
| Feature | Details |
|---|---|
| Loan Amount | Suitable for small to large-scale solar setups |
| 6% per annum | 6% per anum |
| Repayment Tenure | Up to 15 years |
| Upfront Cost | Processing and documentation fees apply |
NBP Solar Financing
NBP’s solar financing emphasizes agricultural applications in Lahore’s outskirts.
| Feature | Details |
|---|---|
| Loan Focus | Solar water pumps, grain drying systems |
| Amount | Up to ₨7 million |
| Subsidy | 2% interest rebate for early repayment |
| Tenure | 10 years |
Al Baraka Bank (Islamic Financing)
Al Baraka’s diminishing musharaka model complies with Islamic principles.
| Feature | Details |
|---|---|
| Loan Structure | Joint ownership decreasing over 5–10 years |
| Profit Rate | 8% (includes asset depreciation) |
| Eligibility | Lahore property valuation matching loan amount |
Bank Islami Solar Financing
Bank Islami couples financing with technical support for Lahore’s commercial sector.
| Feature | Details |
|---|---|
| Loan Amount | ₨10 million maximum |
| Interest Rate | 6.5% |
| Value-Add | Free energy audit and 1-year maintenance |
| Tenure | 7 years |
Eligibility Criteria for Lahore Residents
To qualify for solar financing in Lahore, applicants must:
- Hold a valid CNIC and be a property owner.
- Provide 6 months of bank statements (for salaried individuals) or 2 years of business financials.
- Demonstrate a credit score above 650 through Pakistan Credit Bureau reports.
- For commercial projects, submit NTN registration and tax returns.
The age limit of 60 years at loan maturity excludes retirees from long-tenure plans, a key consideration for Lahore’s aging population.
Application Process: From Inquiry to Installation
- Documentation: Submit CNIC, property deeds, utility bills, and income proof45.
- Technical Survey: Partner companies like Delta Energy conduct site evaluations.
- Bank Approval: Average processing time is 7–10 working days.
- Installation: Certified vendors complete installation within 30 days.
- Net Metering: Banks assist with Lahore Electric Supply Company (LESCO) approvals.
Final Remarks
Shifting to solar energy in Lahore has never been easier—or more affordable. Thanks to bank-backed financing programs, you can now install solar panels with low upfront costs.
If you’ve been waiting for the right time to go solar, this is it. Reach out to your preferred bank, and explore your financing options.
Content Writer | Assistant Manager (Electrical) at IESCO
As a passionate content writer, I’m on a mission to make solar hassle-free for you through my expert guides and easy-to-digest content.