homeloans.com.au launches a new Green Loan

Homes using green loans to invest in solar panels

Due to the growing environmental concerns, lenders have been launching green loans to help customers make their homes more energy-efficient and eco-friendly. 

Online lender homeloans.com.au has expanded their sustainability initiatives and joined the growing list of green loans providers. 

The Green Loan is for current customers looking to upgrade their homes with energy-efficient enhancements like solar panels, electrical energy storage, battery packs and certain home appliances with energy efficiency of at least 4.5 stars. The loan is used as a top-up to the existing home loan with the lender.

RELATED: Top Green Home Loans in Australia

Customers will benefit from a low introductory rate of 0.89% p.a. (1.73% p.a. comparison rates) for the first five years with loan amounts of up to $25,000. After five years it becomes 2.24% p.a.

Homeloans.com.au chief executive officer Scott McWilliam says: “Switching to clean energy products can help customers save money on their utility bills, and in doing so, they can also reduce their carbon emissions to benefit the environment.”

The average cost for a basic installation for a solar panel system in a home starts at around $3,500 and a system can take about 3-5 years before it pays for itself.

“The Green Loan, our latest initiative, makes credit more accessible to encourage customers to join the movement towards a cleaner, more sustainable future,” says McWilliam.

If you’re one of the many Australians wanting to live a more sustainable lifestyle, check out other ethical options to make your finances green.

Home loan comparisons on Mozo - last updated 29 March 2024

Search promoted home loans below or do a full Mozo database search. Advertiser disclosure
  • 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
  • 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
  • OMG Home Loan

    Owner Occupier, Principal & Interest, <60% LVR

    interest rate
    comparison rate
    Initial monthly repayment
    5.99% p.a. variable
    6.00% p.a.

    BCU Bank’s OMG owner occupied home loan offers a variety of great low rates depending on your deposit. Save with no ongoing annual fees. Access your extra payments when you need to through the redraw facility. Pre-approval valid for 3 months.

    Compare
    Details
  • Neat Home Loan

    Owner Occupier, Principal & Interest, LVR <60%

    interest rate
    comparison rate
    Initial monthly repayment
    6.14% p.a. variable
    6.16% p.a.

    Competitively-priced variable rate loan. Ideal for owner occupiers and investors. No service fees to pay. Make free extra repayments and redraws. Flexible repayment schedule available.

    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.