Terms of the Power Smart Residential Loan Agreement
Borrow up to $7,500 in total, of which up to $5,500 can be applied toward the purchase of a high efficiency natural gas furnace.
The maximum term is 5 years. If the loan (or part of the loan) is for a high efficiency natural gas furnace, that portion has a maximum term of 15 years.
The minimum loan is $500.
The minimum monthly payment is $15.
No down payment is required.
Billing of monthly instalments included on the Manitoba Hydro energy bill. Loan billing and the responsibility for loan payment will be up to the owner and not to a tenant.
Additional or complete payments may be made after six months of the start of the finance charge on your account without penalty. (A $20 administration fee will be charged for any additional or complete payments made prior to 6 months.)
The loan becomes due and payable when the house is sold.
Projects in progress, or already completed, at the time Manitoba Hydro receives the application are not eligible for this loan.