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.