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.

RELATED: More home loan lenders offering cashback deals, but are they worth it?

“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 - last updated 3 March 2024

Search promoted home loans below or do a full Mozo database search. Advertiser disclosure
  • Mozo Expert Choice Badge
    Home Fixed Rate

    Owner Occupier, Principal & Interest

    interest rate
    comparison rate
    Initial monthly repayment
    5.80% p.a.
    fixed 3 years
    5.91% p.a.

    Enjoy the security of a competitive fixed interest rate from Up. No application, monthly, annual, redraw, or discharge fees to pay. Up to 50 free offset accounts available. Up home loans are only available to owner-occupiers buying or refinancing in major Australian cities. Up is 100% owned by Bendigo Bank. New joiners get $10 by signing up to the app using code UPHOMEMOZO. (T&Cs apply). Mozo Experts Choice award winner.

    Compare
    Details
  • Straight Up

    Obliterate, Owner Occupier, Principal & Interest, <50% LVR

    interest rate
    comparison rate
    Initial monthly repayment
    6.24% p.a. variable
    6.24% p.a.

    Get a low variable rate depending on your deposit with Athena’s Straight Up Variable Home Loan. AcceleRATES feature helps you to reduce your home loan even faster (T&Cs apply). Zero fees to pay. Free redraw facility. Handy mobile app to manage your home loan.

    Compare
    Details
  • Offset Home Loan

    Package, Owner Occupier, LVR<60%, Principal & Interest

    interest rate
    comparison rate
    Initial monthly repayment
    6.15% p.a. variable
    6.40% p.a.

    Ability to open up to 10 offset accounts per loan account. Fast online application. Linked Debit Mastercard® with fee-free access at ATMs across Australia. Package a credit card with your home loan and the annual card fee will be waived (T&Cs apply). 40% deposit required.

    Compare
    Details

* 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

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.