If you are negative If you need money urgently, read the text until the end, see how the loan works on your electricity bill and learn how to apply!
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What if you had a credit opportunity even if you had a negative credit rating?
In fact, this type of loan is a modality that has attracted many consumers.
Surely, this must be something new to you, right?
Also known as “Alternative Lending”, credit has been available in some Brazilian states since 2019.
According to Creditas, the option is a good opportunity for consumers who do not need a very high amount or have restrictions on their name.
What is a loan on your electricity bill and how does it work?
This type of loan on your electricity bill is not very popular, so you may be either suspicious or rushing to acquire this line of credit, but don't worry, let us explain exactly how this method works.
Perhaps this credit is not so popular yet, because it has been available since 2019 and only in some regions of Brazil and works in a very similar way to a traditional loan.
The main difference with this line of credit is that the installments will be debited and added to your electricity bill, and the bill will clearly state what corresponds to consumption and what is the monthly loan payment.
This acts as a guarantee for the lender, as in the event of non-payment, there may be fines and even a possible power cut at the beneficiary's residence, who has no option of paying the bill without paying the loan.
How does the loan through the electricity bill work?
Credit is most often intended for low-income people.
But for this to happen, the applicant must first have a bank account.
In general, the values offered are not very high and vary between R$250.00 to R$2,500.00.
Another requirement is to be over 21 and under 79, with your electricity bills up to date.
However, the loan is only available in some regions, such as São Paulo, Rio de Janeiro, Ceará and Rio Grande do Sul.
Is a loan on your electricity bill reliable?
The direct answer is yes, the loan on the electricity bill is reliable, however it is important to emphasize that the financial institution where you will apply for the loan makes a lot of difference in this regard.
Always be suspicious of very incredible offers, with interest very low or that ask for advance payments, as this method is not fraud-proof, after all, there are many people with bad intentions when it comes to financial products.
As a rule, when you apply for your loan with a reputable and reliable company, it is a very safe way to acquire a line of credit with installments that fit your budget.
How to apply for a loan on your electricity bill?
As we said at the beginning, the loan on the electricity bill is not available in all Brazilian states or in all electricity companies, so you need to check beforehand whether your city offers this service.
Once you have confirmed that the option is offered by your electricity company, the next step is to separate the following documents:
- Work Card;
- ID and CPF;
- Bank receipt;
- Proof of residence up to 2 months old.
The consumer completes all the procedures online, through the institution's website.
Nowadays, the request can be made entirely online through the website of the institution of your choice, and then your registration will be analyzed and the money will be deposited into your account, generally within 48 hours.
It is worth mentioning that the interest charged varies according to each customer's credit score.
Can people with bad credit apply for a loan on their electricity bill?
The great advantage of this loan for the financial institution is precisely the guarantee that the payment will be made, otherwise there may be a power outage, and this means that people with bad credit can request the loan on their electricity bill.
The same logic applies if you have a low score, as the chance of default is lower, which is why companies are more confident in providing this line of credit.
However, we must remember that for both bad credit and low scores, the interest rates may be a little higher, so it is worth checking out several options before making a decision.
Where can I get the best loan options with the lowest interest rates?
Well, now that you know everything about how it works, let's list some companies that carry out the procedure.
Once you understand how it works and how to take out this loan, it is now time to see which electricity companies offer this option to their customers.
Loan for EDP electricity bill
EDP is a global supplier and in 2019 alone around 10,120 GWh of electrical energy was produced.
The company covers the states of São Paulo and Espírito Santo. So, if you live in a city in São Paulo, that's a good start.
To check whether the EDP electricity bill loan is available, you must first find a partner credit company.
For example, Piki has coverage to release loans in the state of São Paulo.
Loan for ENEL electricity bill
First of all, ENEL is an Italian energy distributor based in Rome.
Also present in Brazil, the electricity company covers the regions of São Paulo, Rio de Janeiro, Ceará and Goiás.
To check if the ENEL Electricity Bill Loan is available, analyze the coverage of the institutions that work with this modality, such as the financial institutions mentioned below.
Piki electricity bill loan
Initially, Piki is not an energy distributor, but rather a startup specializing in loans with debit on consumer accounts.
The hiring is available for the regions of Ceará, Goiás, São Paulo and Rio de Janeiro.
The Piki Electricity Bill Loan is approved immediately. And the consumer pays the first installment only after 30 days.
Loan for Crefaz electricity bill
Like Piki, Crefaz is a credit institution authorized by the Central Bank.
To take out the loan through Crefaz electricity bill an energy debt in the name of the holder of up to 60 days is required.
The amounts released range from R$200.00 to R$1,000.00, and can be paid in up to 18 installments.
Plancred Loan on electricity bill
PlanCred, widely searched by consumers as PanCred Loan on electricity bills, is a specialist in the area.
The contract is 100% online and there is no need to prove income. In fact, in this case, the client can also receive the money in a savings account.
The amounts released vary from R$200.00 to R$1,000.00, and the payment term varies between 8 and 18 months.
Take the opportunity to read our content in full: Plancred Loan on your electricity bill, find out everything about the institution!
Loan on CPFL electricity bill
The institution is part of the CPFL Energia group, and through a specific page it grants loans with debit on the consumption account.
It is possible to request the Loan on the CPFL electricity bill from the first open bill.
However, the loan amount can only be used to pay off energy bills.
In this case, the money does not go directly to your bank account, but rather to the electricity bill debts in your name.
Equatorial Loan
In advance, the Equatorial energy group operates in the regions of Alagoas, Maranhão, Pará, Piauí and Rio Grande do Sul.
Therefore, the Loan option on the Equatorial electricity bill, if available, will only be available to residents assisted by Equatorial Previdência.
How to choose the best loan option?
The market today offers several options and several institutions offering loans on electricity bills, so to avoid falling for any type of fraud and also avoid high interest rates, it is important to know how to choose.
This would be a complicated task, but Consulta Cred puts all our expertise into play and we have already selected the best companies for you to simulate your loan, within your conditions and in fact find the best option.
Conclusion
Based on the content presented, we saw that the loan through the electricity bill has become a very popular type of credit. Mainly, by negative.
We can consider this type of loan as relatively new, so it is likely that it will become popular in the coming years and will be available in all cities.
If yours already has this availability, a loan on your electricity bill is a very worthwhile option, especially for those with a low score and/or bad credit, and if this is your case, consider this possibility.
We recommend that you do this by evaluating the best options, and when it comes to lines of credit that are advantageous for you, Consulta Cred is an expert in this.
