BOK offers for purchase of Solar Equipment (For Residential House) to their customer under the Shariah Complaint product i.e. Raast Roshan Ghar which is structured under the concept of Murabaha.
- Murabaha is a Sale transaction where the Seller (BOK) will disclosed the cost and profit to the Buyer (Customer) at time of Sale transaction.
- The seller (Customer) will pay the sale price either on spot or deferred price (Installments)
- Finance Limit:
- Category A Minimum PKR 50,000/- Maximum PKR 200,000/-
- Category B Minimum PKR 200,001/- Maximum PKR 500,000/-
- Category C Minimum PKR 500,001/- Maximum PKR 2,000,000/-
- 25% to be paid by the customer & remaining 75% to be paid by the Bank to the authorized dealer
- Finance Period will be 6 months to 60 months
- 01 Year KIBOR + Minimum Spread 2.0 % (Spread depends on Risk rating of a customer
- Early adjustment will be considered on case to case basis
- Processing fee as per BOK IBG's Schedule of Charges
- Repayment through monthly installment and default obligation as per BOK IBG's Schedule of Charges
- Government Semi Govt. employees, Businessmen & self-employed professionals & Employees of private sector registered organizations are eligible to apply
- Minimum monthly Net Income of PKR 25,000/-. Average verifiable net income should be 3 times of proposed facility installment.
- Age of Client from 22 years to 58 years (65 Years for Businessman) engaged in business or in service for more than 2 years
- Holding valid CNIC
- Clean ECIB report
- Solar system its price to be negotiated by borrower directly with BOK's approved vendor.
- Applicant scoring Credit Risk Rating from 1 to 5 only will be eligible for this facility
- Security: As per Bank’s policy.