Gateway Bank offers $2,000 cashback for Green Home Loan customers

Aerial shot of Australian homes.

In response to growing environmental concerns and increased awareness of the role banks can play in mitigating them, Gateway Bank has announced it will be offering $2,000 cashback to successful green home loan applicants.

The offer is available to customers looking to build an energy efficient home or upgrade their existing home to make it more environmentally friendly. Refinancers are also eligible, so long as they are not existing Gateway Bank customers.

To qualify, the property must have a minimum 7.0 Star rating from the Nationwide House Energy Rating Scheme (NatHERS) or receive a favourable assessment under the NatHERS-endorsed Residential Efficiency Scorecard.

Applications must be made between 20 September and 31 December 2021 and settled by 31 March 2022.

Gateway Bank chief executive, Lexi Airey said the move is one of several ways Gateway Bank hopes to reward customers who conduct their banking with an eye towards the environment.

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“There’s a fast-growing market segment who want to reduce their home’s impact on the environment, and are borrowing to add energy efficient features, or to buy a new home with those built in,” she said.

“Because we strongly believe that consumers shouldn’t have to pay a premium to do the right thing for the environment, we’ve introduced this cashback offer as part of Gateway Bank’s ‘Pocket & Planet’ purpose.”

Along with the cashback offer, customers will also benefit from rates as low as 2.34% p.a. (2.68% p.a. comparison rate*) on the Green Plus Home Loan and 2.44% p.a. (2.78% p.a. comparison rate*) on the Green Home Loan.

Both come with a 100% offset account (with linked Visa Eco Debit Card) and allow customers to make unlimited extra repayments without incurring penalty. A redraw facility is also available in case customers wish to retrieve those extra funds.

For more information on lending trends, head over to our home loan statistics page. And if you’re in the market for a home loan, visit our home loan comparison page, or browse the selection below.

Home loan comparisons on Mozo

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Last updated 22 July 2024 Important disclosures and comparison rate warning*
  • Discount Great Rate Home Loan

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    6.04% p.a. variable
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    An easy to use Home Loan with no establishment fee and no monthly or annual fees. Minimum deposit of 20% is required. Mozo Experts Choice Awards - Investor Home Loan Award 2024^.

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  • Basic Home Loan

    Fixed, Owner Occupier, Principal & Interest, LVR<70%

    interest rate
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    Initial monthly repayment
    6.25% p.a.
    fixed 3 years
    6.20% p.a.

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  • Low Rate Home Loan

    Owner Occupier, Principal & Interest, LVR<80%

    interest rate
    comparison rate
    Initial monthly repayment
    6.14% p.a. variable
    6.20% p.a.

    Enjoy a variable rate home loan with a bunch of features from Police Credit Union. Make extra repayments at any time without penalty. No monthly, annual or upfront fees. Free online redraw. Minimum 20% deposit. Qualifying criteria applies. Minimum loan amount is 200K. For new customers only. Mozo Experts Choice Home Lender Credit Union of the Year 2023.

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  • Discounted Home Value Loan

    Owner Occupier, Principal & Interest, LVR 70-80%

    interest rate
    comparison rate
    Initial monthly repayment
    6.14% p.a. variable
    6.14% p.a.

    Enjoy competitive rates for owner occupiers. Enjoy unlimited free extra repayments. Flexibility to redraw additional payments for free. No ongoing monthly service fee. Settlement fee waived on new borrowings from $50,000 (T&Cs apply).

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* WARNING: 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. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

^See information about the Mozo Experts Choice Home Loan Awards

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