Oschadbank has Commenced Lending to Households Under the State Energy Independence Program, Which Covers a Share of the Related Costs

Oschadbank has commenced offering loans under the updated state program to support household energy independence, which is being implemented by the Government of Ukraine in partnership with the National Development Agency (NDA).

The program allows Ukrainians to purchase and install backup and autonomous power supply equipment, including generators and hybrid power supply systems (photovoltaic modules and/or wind power installations with a capacity of up to 10 kW, including inverters and energy storage systems), with partial compensation of costs by the state.

Within the framework of the program, customers are eligible for unsecured loans of up to UAH 480,000 with maturities of up to 10 years. Provided the intended use of funds is verified, the interest rate is reduced through compensation and amounts to 0% per annum for the first year, 5% for the second year, and 7% for the third year. The standard rate (UIRD 3M + 7%) applies starting from the fourth year.

The government also partially compensates for the cost of purchasing equipment after its installation has been verified: 20% for generators, 25% for hybrid power supply systems, and 30% for comprehensive solutions involving power generation and storage.

“Ukrainians’ demand for energy independence solutions is still high due to damage to the energy infrastructure. Oschadbank is a key driving force behind this market: we provide 71% of all energy efficiency loans to individuals in Ukraine. Over the past year, we issued almost 8,000 loans totaling over UAH 1.5 billion, helping thousands of families install solar power stations and energy storage systems. Oschadbank currently offers two effective solutions: a 0% government program in partnership with NDA and our in-house consumer lending program, so that everyone may select the most suitable solution for their needs,” noted Volodymyr Moskalenko, Director of the Retail Banking Products and Technologies Department at Oschadbank.

Owners of private houses (up to 300 square meters) and land plots who meet certain income criteria (up to ten average salaries in Ukraine per family) are eligible to apply for the program.

Details are available at Oschadbank branches, via the contact center at 0 800 210 800, or on the Bank’s official website.