MoveBank launches new green car loan

electric vehicle charging in a car park

More Australians are turning their eyes to electric vehicles, and car loan lenders are joining in.

MoveBank now offers a loan specifically for environmentally friendly vehicles: the Green Fixed Rate Car Loan.

The new green car loan starts from a low 4.09% p.a. (4.35% p.a. comparison rate*) and it comes with redraw facilities and free extra repayments. You can also borrow between $10,000 to $150,000 which is great since electric vehicles sometimes run on the more expensive side.

To qualify for MoveBank’s new green loan, you must comply with the MoveBank Green Vehicle Criteria which states that your vehicle must be one of the following:

  • Pure electric
  • Plug-in hybrid electric
  • Regenerative hybrid

All vehicles must have an internal combustion engine that produces less than 125 g/km tailpipe CO2.

How does MoveBank’s green car loan compare?

For starters, the Green Fixed Rate Car Loan is 183 basis points below the 5.92% average fixed car loan rate in Mozo’s database. It is also 207 basis points below the 6.16% average fixed green loan rates and among the lowest green car loans available in Mozo’s database.

MoveBank is one of the many lenders starting to offer sustainable financial services to their customers as a way to help with the climate crisis and encourage Aussies to consider greener options.

If you are thinking about getting a new car soon, check out Mozo’s car loan guide to enhance your knowledge before buying a new set of wheels.

Car loan comparisons on Mozo - last updated 21 May 2024

Search promoted car loans below or do a full Mozo database search. Advertiser disclosure
  • New Car Loan - Special

    Home Owner Discount, Including Demo, Variable, Secured

    Interest rate
    comparison rate
    Monthly repayment
    6.24% p.a.
    7.36% p.a.based on $30,000
    over 5 years

    Low variable car loan rate for purchasing new and demo vehicles from dealers. Personalised loan amounts between $5,000 and $150,000. Flexible repayment options. Choose between the 3 to 7 year loan terms. Good credit history. Stable employment history and Australian citizenship or PR required.

    Repayment terms from 3 years to 7 years. Representative example: a 5 year $30,000 loan at 6.24% would cost $35,880.27 including fees.

    Compare
    Details
  • New Car Loan

    Fixed, Secured

    Interest rate
    comparison rate
    Monthly repayment
    6.57% p.a.to 18.99% p.a.
    7.19% p.a.to 21.78% p.a.based on $30,000
    over 5 years

    Get a competitive fixed interest rate on a secured new car loan of up to $75,000 depending on your credit score. Easy online application. Fast pre-approval. Pre-approved funds held for up to 3 months. No monthly account keeping fees, no exit fees and no early repayment fees. Flexible weekly, fortnightly or monthly repayments on terms from 1 to 7 years.

    Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 6.57% would cost $35,528.12 including fees.

    Compare
    Details
  • New Car Loan - Special

    Including Demo, Fixed, Secured

    Interest rate
    comparison rate
    Monthly repayment
    8.19% p.a.
    9.30% p.a.based on $30,000
    over 5 years

    Low fixed car loan rate for purchasing new and demo vehicles from dealers. There is no monthly or ongoing fees and early payout options available. Winner of Mozo's Experts Choice Car Loan 2021 award^. Good credit history. Stable employment history and Australian citizenship or PR required.

    Repayment terms from 3 years to 7 years. Representative example: a 5 year $30,000 loan at 8.19% would cost $37,541.41 including fees.

    Compare
    Details
  • Clean Green Car Loan

    Home Owner, New or Used, Fixed, Secured

    Interest rate
    comparison rate
    Monthly repayment
    6.49% p.a.
    7.61% p.a.based on $30,000
    over 5 years

    Get a 1% discount on your car loan interest rate if you buy a qualifying green car. Winner of Mozo's Experts Choice Green Car Loan 2021 award^. Good credit history. Stable employment history and Australian citizenship or PR required.

    Repayment terms from 3 years to 7 years. Representative example: a 5 year $30,000 loan at 6.49% would cost $36,090.64 including fees.

    Compare
    Details

*WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

* WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

^See information about the Mozo Experts Choice Personal Loan Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.