The loan on the electricity bill is a loan in which the amount of the installment is debited from the electricity bill on a monthly basis. It is an excellent option for those who are in financial trouble and need quick credit, but cannot hire conventional services.
Learn more about the electricity bill loan and how you can apply for yours. Follow!
What this article covers:
What is the electricity bill loan?
The electricity bill loan started in 2019, and is a quick loan modality, which even people with low scores and negative scores can apply for. Credit analysis is less bureaucratic, and the amount is discounted in installments every month on the light bill.
How does the electricity bill loan work?
In this type of loan, the installments are added to the value of the electricity bill, monthly. For example, if you usually pay BRL 100.00 for electricity and take out a loan of BRL 1,000.00 (with interest and fees included) in 10 installments for 10 months, your bill will add up to BRL 200.00.
Each company lends a limit value X, which is usually around R$ 2,500.00. It can be paid off within 3 to 18 months.
However, it is important to note that this loan is not available everywhere in the country. Only residents of São Paulo, Ceará, Rio de Janeiro, Rio Grande do Sul and Goiás can borrow from their electricity bill.
How to apply for the loan on the electricity bill?
The application for the loan on the electricity bill is made online, according to the steps below:
- First, confirm that the electricity company in your state offers this type of loan;
- Find out which financial institution offers this agreement;
- Simulate and hire.
But for that, it is important to know if you meet the necessary requirements to take out the loan.
Electricity loan requirements
To take out the loan on the electricity bill, you must be over 21 years old, have a bank account, have your electricity bills up to date and be the holder.
What to analyze before applying for the loan on the light bill?
The loan is an alternative with lower interest rates, for the guarantee that the payment will be made. But, before applying for the loan, it is important to remember that, by not making the payment, the electricity will be cut.
Therefore, always evaluate whether the amount of the installment fits your budget before hiring.
It is also necessary to consider the possible increase in the electricity bill over time, either due to higher consumption or unforeseeable reasons, such as the change in the red rate, as all this will impact the amount to be paid monthly.
Also, always look for reliable sites to do the simulation and hiring, and be wary of offers sent by text message without your request. The loan on the electricity bill is reliable, but it is important to be aware of scams.
How to check the loan options on the electricity bill?
O Serasa eCred is a platform that conducts research, compares and recommends loan options, 100% online and free of charge. It is a safe alternative to checking your utility bill loan options.
The loan on the electricity bill is a quick loan modality with lower interest rates, which even negative ones can apply for. However, it is important to analyze the situation and values before hiring, to ensure that there will be no future problems.