Caixa announces solar credit line targeting individuals

a Federal Savings Bank announced that it will launch a new line of credit Targeted at individuals who will allow the financing of residential PV systems. It joins three other lines associated with renewable energies.

According to the bank, Caixa Energia Renovável personal credit rates will start from 1.17%, and will be able to finance up to 100% of the project for the implementation of Solar energy. According to Caixa, the new line should be available in branches soon, but no specific date has been reported.

The loan repayment term is up to 60 months, with a grace period of up to six months for the first installment. It will be offered in two ways, one without collateral and the other with fixed income financial investments.

In addition to the project for individuals, Caixa already offers three lines of credit aimed at businesses. One of them is MPE Eco-Efficiency, where an entrepreneur can get credit to finance machinery and equipment that reduces waste generation and pollutant emissions.

It is also possible to finance the purchase of renewable energy generation systems from energySolar water heating, to improve energy efficiency and to filter gases.

The line allows financing of up to 100% of the principal, with a grace period of six months and up to 54 months of depreciation. The interest rate starts from 1.09% + TR (reference rate) per month.

The bank also offers two specific lines for agricultural business. The first is ABC (Low Carbon Agriculture), with seven programmes, six of which are to fund technologies to reduce gas emissions and one for actions to help adapt to climate change.

The loan has an interest rate of 7% per annum and can be repaid in up to 10 years with a grace period of five years. The maximum is R$5 million per project.

The other line is linked to the Inovagro program, which aims to stimulate and enhance the sector’s production through financing machinery and equipment. The goal is to increase productivity and reduce environmental impacts.

In this case, the loan also has an interest rate of 7% per annum and a tenor of 10 years, but the grace period is up to three years. In addition, the maximum amount is 1.3 million Brazilian Real. The loan is available to both businesses and individuals, with family farming in mind.