PrivatBank launched the “Energy Sources” program, providing preferential loans for the installation of solar and wind power plants for private homes. The state compensates for the interest on the loan, making it virtually interest-free for borrowers.
Alternative energy is more accessible
Credit conditions from PrivatBank
PrivatBank presented detailed information about the new loan program "Energy Sources". This initiative aims to support Ukrainians in installing alternative energy sources.
Individuals now have the opportunity to obtain financing for the purchase of private solar and wind power equipment . It is important to note that the state undertakes full compensation of the interest rate on the loan.
Who can use the program?
The program is designed exclusively for individuals planning to install solar or wind hybrid power supply systems with a capacity of up to 10 kW. The equipment must be intended for your own residential building or cottage, the area of which does not exceed 250 square meters.
Financial aspects of the loan
The minimum loan amount is 100 thousand hryvnia, and the maximum reaches 480 thousand hryvnia. The borrower must make a down payment of at least 10% of the cost of the equipment. The loan term varies from 1 year to 5 years.
Thanks to government support, the effective rate for the client is 0% per annum. Without taking into account compensation, the rate is formed from UIRD 3M (Ukrainian index of rates on deposits of individuals) plus 7% per annum.
Additional costs
Although there is no interest, the loan is not completely free. When applying, a one-time fee of 1.5% of the loan amount (from 1500 to 7200 hryvnia) is charged. Repayment is carried out according to an annuity scheme - equal monthly payments throughout the entire loan term.
How to apply?
Detailed information about the conditions of preferential lending can be found on the official website of PrivatBank. A loan calculator is also available there, allowing you to make preliminary calculations and fill out an application. The bank promises to provide a preliminary decision on issuing a loan within two minutes after submitting the application.
Glossary
- PrivatBank - the largest commercial bank in Ukraine
- UIRD 3M - Ukrainian index of rates on deposits of individuals for 3 months
- Annuity - a way to repay a loan in equal payments
- Hybrid energy supply systems - combined systems using several energy sources
- kW - kilowatt, power unit
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Answers to questions
What are the conditions of the “Sources of Energy” credit program from PrivatBank?
Who can take advantage of a loan under the Energy Sources program?
What are the costs associated with applying for a loan under the Sources of Energy program?
How is the loan repaid under the Sources of Energy program?
How can I apply for a loan under the Sources of Energy program?
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Discussion of the topic – Preferential loan for alternative energy: PrivatBank reveals details
PrivatBank presented the terms of the Energy Sources credit program, which allows individuals to obtain financing for the installation of solar and wind power plants. The article reveals the features of the loan, the process of obtaining it and the benefits for Ukrainians.
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Mykola
Wow, this is a great opportunity for those who have long dreamed of alternative energy sources! 🌞 I'm already thinking about installing solar panels on the roof of my house.
Sophia
I agree, Mykola! The zero interest rate is especially attractive. But I'm a little confused by the registration fee. Although, if you do the math, it’s still more profitable than taking out a regular loan.
Pierre
But I think that 10 kW is not enough for a house of 250 sq.m. 🤔 Maybe you should consider the option of multiple credits for more power?
Isabella
Pierre, you're right, but this is a good start. The main thing is to start! And then, you see, conditions will improve. I'm more interested in how quickly such a system will pay for itself. Has anyone done the calculations?
Hans
This whole alternative energy thing is a waste of money and time. It would be better if the state started repairing existing power grids than handing out loans left and right. 😒
Mykola
Hans, don't be such a pessimist! This is a step into the future. Isabella, I roughly calculated that at current rates the system can pay for itself in 5-7 years. And then - pure savings!
Sophia
Guys, does anyone know if this program can be used to install wind generators? 🌬️ I have a plot on a hill, I think a wind turbine would be more effective than solar panels.
Pierre
Sophia, the conditions say that you can also choose wind systems. But if I were you, I would first consult with experts about efficiency in your region. Maybe a combined system is the best option? 🌞🌬️