Warm service: Privatbank will help condominiums in holding meetings online
25 April 2025 09:42
PrivatBank has launched a unique service for the Ukrainian banking market that allows holding online meetings of members of homeowners’ associations and housing cooperatives without the need for the physical presence of all co-owners, and forming minutes of meetings to obtain “Warm Loans for Homeowners’ Associations.” This was reported by PrivatBank, according to "Komersant Ukrainian".
As explained by Yevhen Zaigraiev, PrivatBank’s board member for corporate business, it is possible to organize meetings and online voting in Privat24 for Business. This service is free of charge for condominiums and housing cooperatives, and not only PrivatBank clients but also co-owners who have a qualified electronic signature from any bank or Diia can vote for loans for home insulation at online meetings.
What services does the bank provide under the Warm Loans program?
This program, as explained by PrivatBank, provides financing for both projects of co-owners of apartment buildings to install alternative energy sources and energy efficiency programs and modernization of energy supply and heating systems.
The bank accepts applications for “warm loans”. The bank finances condominiums for up to 5 years on preferential terms, including the first year under the government program “Affordable Loans 5-7-9%”. In addition, borrowers are eligible for up to 70% compensation under the GreenDom and Energodom programs from the Energy Efficiency Fund and partial loan compensation from local budgets (if such a program is available in the borrower’s locality).
You can apply for a Warm Loan on the bank’s website and in Privat24 for business.
What else is known about the “Warm Loans” program?
This is a government program developed by the State Agency on Energy Efficiency and Energy Saving. It has been in effect since October 2014.
In 2021, the Program provides for reimbursement from the state budget in the following amounts:
20% of the loan amount (but not more than UAH 12 thousand) for the purchase of non-gas/non-electric boilers for individuals;
35% of the loan amount (but not more than UAH 14 thousand) for the purchase of energy-efficient equipment/materials for individuals – owners of private houses.
If the borrower is an individual who receives a subsidy for housing and communal services, the amount of reimbursement will be 35% for both boilers and other energy efficiency measures, but not more than UAH 12,000.
Detailed explanations on how to participate in the Government’s energy efficiency program can be obtained from the State Agency on Energy Efficiency and Energy Saving’s Call Center.
Local programs to reduce the cost of “warm loans”, which provide additional compensation from local budgets, also continue to operate.
How to participate in the program
To participate in the program and receive a refund, you must
– apply to an authorized bank and provide a certain package of documents to obtain a loan for the purchase of energy efficient equipment or materials (the list of documents is determined by the bank)
– receive credit funds;
– provide the bank with invoices, certificates of completion, etc., i.e., the borrower must confirm the intended use of the loan funds.
On a monthly basis, the bank compiles and submits to the State Agency on Energy Efficiency and Energy Saving the registers of borrowers entitled to receive reimbursement.
Within 5 days, the State Agency on Energy Efficiency and Energy Saving transfers the relevant funds to bank accounts for further transfer to borrowers.
In general, the reimbursement process takes up to 2 months.
