Loan on electricity bill – Understand
Many people have never heard of an electricity bill loan, which is also known as an alternative loan.
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In case you don't know, this is a modality intended for people who have difficulty accessing credit, as is the case with consumers who are in debt and who represent around 50% of the Brazilian population.
However, since it is still a loan, you need to carefully evaluate whether it is worth taking out.
But after all, what is a loan on the electricity bill?
Since 2019, the possibility of taking out a loan against a consumer account has been available on the market.
This means that the credit installments are paid monthly through your electricity bill.
This way, the value of the loan installment will be added to the residence's energy consumption during the month.
So, if the cost of electricity is normally R$60 and you take out a loan of R$1,000, including interest, to be paid in 10 installments of R$100.00, this means that over 10 months the bill will be R$160 (R$60 for energy consumption and R$100 for the borrowed money).
It is important to note that the maximum loan installment is generally limited to twice the average electricity bill, which helps minimize default.
How does it work?
First, it is important to understand that this is a loan aimed at low-income individuals, and is a line of credit that requires the borrower to have a bank account, as the money borrowed is deposited directly into the account holder's account.
Each company that offers this type of loan has a different value limit for the company, but, normally, the amount starts from R$ 500.00 and can reach up to R$ 2,500.00, with a repayment term of 3 to 18 months.
To take out a loan on your electricity bill, you must be over 21 and under 79 years old and have your utility bills up to date.
Additionally, this modality is only available for the following regions:
- São Paulo;
- Rio de Janeiro;
- Ceara;
- Goiás;
- Rio Grande do Sul
How to do it?
To hire, you must have the following documents on hand:
- Work permit;
- ID;
- CPF:
- Bank receipt;
- Proof of residence.
So, some companies that make this type of loan are CPFL, Celesc and Enel X, so it is not the concessionaire that makes the loan, but the financial company.
The process for formalizing the loan agreement is online. After gathering the documents, you must complete the registration on the website of the company you choose.
This way, the applicant's profile will be analyzed and if the credit is approved, the customer will be able to receive the borrowed money in their bank account within 24 hours.
