PIKI electricity bill loan

Loan on your PIKI electricity bill: read our post and find out how the loan debited from your PIKI energy bill works and much more!

What is a loan on the electricity bill?

It is a new type of credit, in fact, still little known by people. That is why there are still many doubts about how it works or whether it is actually safe.

This credit option is also known as an alternative personal loan. It is intended for people who have more difficulty obtaining other lines of credit.

It is definitely the ideal option for those with bad credit!

During the pandemic, many people ended up losing their income, especially those who are self-employed.

In this case, they encountered difficulties in paying off their debts, which led at least 50% of the Brazilian population to end up on the defaulters' register, according to data from the SPC.

Personal Loan Debited from Energy Bill | Reproduction: Cred Consultation

Furthermore, many people needed credit in the market to restart their businesses and ventures.

However, they were unable to do so, as their credit rating was bad. What now? What should be done?

The only option was to research and look for less bureaucratic financial services with easy approval.

Luckily, the loan on the PIKI electricity bill, is one of them.

How does the loan on the energy bill work?

This credit option was certainly a light at the end of the tunnel for many people, due to how easy it was to obtain.

THE loan on electricity bill, it usually works like this:

The loan amount, or installments, are charged based on your energy consumption, meaning the amount is added to your electricity bill.

The amounts can be paid via lottery, Internet Banking or ATM, in the same way you usually pay your energy bill.

This loan model is carried out by institutions with partnerships with electricity distributors, for example, PIKI, Equatorial and Plancredit.

👉Also read: “Plancredi loan on electricity bill – Find out everything about the institution”

So before knowing how it works PIKI electricity bill loan, see below some advantages and disadvantages.

What are the advantages and disadvantages of taking out a loan with a debit on your energy bill?

The biggest advantage of asking for the loan on electricity bill it's the ease and the fact that it's less bureaucratic.

In other words, you don't need to prove your income and even people with negative credit ratings can receive approval. It all depends on each institution.

But, despite being less bureaucratic, a credit analysis is also carried out.

The biggest disadvantage to standing out is the interest rates. Depending on the financial institution, they can be quite high.

Therefore, it is important to choose the financial institution carefully and carefully evaluate the interest rate and fees table.

Loan on Piki electricity bill | Reproduction: Cred Consultation

How does the loan work on the PIKI electricity bill?

With the credit debited from your PIKI energy bill, you will receive a response on the same day. If approved, the money will be in your account within 1 business day.

This is great for those who need money urgently, for sure!

In addition, you will have 30 days to organize yourself and start paying the installments, that is, the amounts will only be added to your energy bill next month.

You can request from R$$500.00 to R$$2,500, and the amounts can be paid in up to 18 installments.

See below a simulation performed on the home screen of the PIKI website:

Loan amount: R$1,550.00

In how many installments: 15X

Total: 15X of R$262,50

Total value of PIKI electricity bill loan: R$3,989.5

In the end, PIKI informs that this simulation may vary depending on the analysis of your credit profile, but it already gives you an idea of how much interest we pay.

It should definitely be a measure to be applied only in urgent cases, otherwise you will be at a disadvantage due to the increase in interest and fees.

A great advantage of PIKI is that it does not consider the score, that is, your opportunities will be greater even if you have a low score.

How to apply

This loan can only be taken out by residents of the states of São Paulo, Ceará, Rio de Janeiro and Goiás.

You can apply online, via computer or mobile phone. Go to the fintech website and click on “Apply for a loan”.

Once this is done, you will fill out the registration form with your details and undergo a credit analysis.

If approved, just sign the digital contract and wait for the money to be deposited into your account within a few hours.