| Purpose of Facility |
BOP Shamsi Tawanai is a term finance facility for consumers willing to install solar energy equipment for generation of electricity ranging from 4 KW to 1000 KW with or without net metering.
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| Product Attributes |
• Affordable mark-up rates
• Quick processing and loan disbursal
• Availability of Limit Enhancement option
• AEDB certified suppliers on panel
• Available under PM’s Kamyab Jawan program and Punjab Rozgar scheme as well*
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| Target Market |
1. Individuals (preferably with an intent of net metering)
2. Small & Medium Enterprises
3. Agribusinesses
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| Eligibility Criteria |
Existing BOP customers and prospective NTB Borrowers meeting the following acceptance criteria shall be financed under “BOP Shamsi Tawanai”
• Clean e-CIB
• Income proof/ Bank Statement/ Income estimation
• NOC from the owners
• Age should be between 21yrs and 60 years
• Satisfactory market check
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| Minimum Loan Limit |
Rs. 0.5 million
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| Maximum Loan Limit |
Rs. 100 million (for individuals 5 million)
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| Down Payment |
For Individuals / SMEs:
• 20% down payment in case of owned premises / family owned along with a Non-Objection Certificate from the owner(s)
• 25% down payment in case of rental/ lease premises along with a proof of single / joint ownership of any immovable property and a Non-Objection Certificate from the owner(s)
• 25% down payment in all other cases
For Agri Customers / Business (Farm / Non-Farm):
(includes all associated and auxiliary businesses directly related to agriculture)
• Minimum 20% down payment in case of both owned/ family owned premises/land
• 25% down payment in all other cases
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| Tenure |
The maximum duration of this loan is 8 years with 3 months grace period
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| Frequency of Repayment |
Monthly / Quarterly / Bi-annually
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| Security |
Hypothecation of Equipment
AND
Mortgage of Property (30% margin on mortgage value)
OR
Cash / Near Cash Collateral (10% on encashment value)
OR
Lien on Vehicles (30% margin on mortgage value)
OR
Security amount (forced sales value) shall be equal to 50% of loan amount where power generation can be monitored online
OR
Charge on Agri land through Zarai Pass Book (40% margin on last three years Oast Bai/Schedule rate value as assessed by revenue or value determined by evaluator) (applicable on agri customers / businesses only)
For both salaried and non-salaried person financing up to Rs. 3 million can be availed against hypothecation of equipment only (no tangible security required). Subject to following conditions:
o Residential premises on which equipment is to be installed is owned by the borrower or his/her spouse/siblings/children/parents.
o Annual salary/annual account turnover (singly or clubbed with spouse) is equivalent to loan amount.
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| Insurance |
Insurance for first year shall be taken along with down payment, remaining amount shall be built in installments.
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| Pricing / Mark-up |
As per prevailing market rates
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| Processing Fee |
As per SOC
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