Customer Contribution Time Payment Plan
A customer with approved credit can apply for financing for:
- an individual service extension;
- plant relocation;
- or conversion from overhead to underground wiring facilities.
The plan is available to all customers under the following conditions:
- the service extension or plant relocation is permanent;
- the applicant is either:
- the property owner;
- the holder of a lease with a minimum of 10 unexpired years for property in a provincial or national park.
- You can finance up to $10,000 per property.
- The maximum financing term is 10 years.
- The annual interest rate is fixed at 5.5 per cent (O.A.C.) for the first 5 years of the loan.
- The minimum monthly payment is $15.
- The minimum that can be financed is $500.
- The loan becomes due and payable when the house is sold. The loan is not transferable.
Check with your local district office to see if your plans qualify.