27 Jul 2021

The Commonwealth Bank have launched an exciting new product called their “Green Loan” which aims to help customers make their homes more energy efficient and sustainable at a great low rate.

Available to existing home loan customers, the Green Loan demonstrates CommBank’s commitment to helping move Australian households to clean energy in a cost-effective way.

Here is all you need to know about the Green Loan.

The Green Loan can be used to buy and install one or more of the following energy products:

  • Solar panels with a system size equal to or greater than 6 kilowatts
  • Battery packs with a system size equal to or greater than 5 kilowatt-hour
  • Solar hot water system with a minimum system size equal to or greater that 250L
  • Heat pump hot water system with a system size equal or greater than 250L
  • Electric vehicle charging station

The Green Loan product is extremely cost effective. Product features at-a-glance include:

  • Ultra-low rate of 0.99% per annum (Comparison Rate 0.99%), fixed over a 10-year term.
  • Flexibility to make additional repayments
  • Ability to pay our loan early with no fees of penalties
  • $0 establishment fees
  • $0 ongoing fees
  • Ability to borrow between $5,000 and $20,000

Available to existing home loan customers, the Green Loan demonstrates CommBank’s commitment to helping move Australian households to clean energy in a cost-effective way.

To qualify, you must meet the following requirements:

  • An existing home loan balance of $150,000 or more
  • The loan is secured against a single property that is not an apartment or commercial.
  • The loan to value ratio at settlement does not exceed 80%
  • The installation address of the eligible renewables matches the security address.

If you are a CommBank customer and have been thinking about making energy efficient upgrades to our home, now may be the chance. For more information contact your Blackburne Mortgage Broking team on 9429 5794.

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