With interest rates as low as 1.90% p.a. (2.89% p.a. comparison rate*), this green home loan could provide a great incentive for anyone looking to buy or build a more eco-friendly home, specifically one with a high energy efficiency rating.
The Clean Energy Home Loan comes with all the perks of Bank Australia’s Premium Home Loan Package, but with the added bonus of a 0.20% discount on the interest rate. So if you are planning to buy or build a home rated 7 or more stars under the Nationwide House Energy Rating Scheme (NatHERS), then you could benefit from this sweet discount on your Bank Australia home loan for the full fixed interest rate period of the loan (maximum five years). That means you could grab a 3-year fixed rate as low as 1.90% (2.89% comparison rate*).
You'll also be able to take advantage of a 10% discount on general insurance products including building, contents and comprehensive motor insurance. You’ll also have the fee waived on your Everyday Access account or Mortgage Offset accounts. And if you’re looking to apply for the Platinum Rewards Visa Credit Card, you’ll not only have the fee waived, but you’ll also enjoy 0% interest on balance transfers for the first 12 months.
Plus if you want to reduce the amount of interest you pay, you also have the option to open a Mortgage Offset account with unlimited transactions. 100% of the balance in your Mortgage Offset account will be used to offset your home loan and reduce the amount of interest you owe each month. On top of that, you could also play it safe with a fixed rate and benefit from a lower variable rate at the same time, if you choose to split your loan repayments into two different accounts.
Another handy feature of this home loan is the ability to either apply an eco pause or a parental pause for three or six months. If you’re planning eco-upgrades to your abode or you’re about to welcome a little bub into the world, then you can apply for a pause on your loan repayments for a maximum of six months. Although you will still have to pay the relevant interest owed during the pause period.
This loan is great for any eco-warriors out there who have a deposit saved up and plan to build or buy a more eco-friendly home. So if the home you’re planning to build meets any of the following criteria then you could be rewarded with a pretty substantial discount:
7 plus star NatHERS rating
7 plus star Residential Efficiency Scorecard (excludes the impact of installed/installing rooftop solar)
Passive House Certification
Green Star - Design & As Built v1.2 score 8 points or more on the credit ‘15 Greenhouse Gas Emissions’
This home loan comes with a $350 yearly fee, so before you sign up it might be worth figuring out if all the perks are worth it for the annual price. It should also be noted that the 0.40% discounted rate will only apply for the fixed interest rate period of the loan, which is a maximum of five years.
n/a
n/a
n/a
n/a
n/a
n/a
1.90% (2.89%*)
n/a
n/a
n/a
n/a
2.70% p.a.
$0.00
$0.00
$0.00
$0.00
n/a
$350.00 yearly
$250.00
$150,000
none
none
90.00%
Weekly, Fortnightly, Monthly
yes - free up to $20,000 p.a
yes
yes - free
$0.00
yes
yes
Property must have NatHERS rating of 7+ stars, or Residential Efficiency Scorecard rating of 7+, or a Passive House Certification, or Green Star 8+ Points.
10% off your general insurance premiums, no annual fee and 0% interest for 12 months on balance transfer on Platinum Rewards VISA credit card
none
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.
Bank Australia is a customer owned bank. Formerly bankmecu, Bank Australia has over 130,000 customers which act as shareholders of the bank. It offers a full range of products including home loans, savings, credit cards and loan products, and because its shareholders are its customers, they benefit from lower rate and fees. Bank Australia also invests up to 4% of its profits in various community projects every year.
loans.com.au
Smart Booster Home Loan
1.99% p.a.variable for 12 months and then 2.48% p.a. variable
2.47% p.a.
Homestar
Star Gold Home Loan
1.79% p.a. variable
1.84% p.a.
Bank of Queensland
Fixed Rate
1.94% p.a.
fixed 3 years
2.97% p.a.
loans.com.au
Smart Booster Home Loan
1.99% p.a.variable for 12 months and then 2.48% p.a. variable
2.47% p.a.
Newcastle Permanent
Fixed Rate Home Loan (Premium Plus Package)
1.98% p.a.
fixed 3 years
3.56% p.a.
loans.com.au
Smart Booster Home Loan
1.99% p.a.variable for 12 months and then 2.48% p.a.
2.47% p.a.
Homestar
Star Gold Home Loan
1.79% p.a.
1.84% p.a.
Yard
Variable Home Loan Special
2.09% p.a.
2.12% p.a.
Newcastle Permanent
Fixed Rate Home Loan (Premium Plus Package)
1.98% p.a.
fixed 3 years
3.56% p.a.
Homestar
Star Classic Fixed Home Loan
n/a
n/a
People's Choice Credit Union
Fixed Rate Home Loan (Package)
1.89% p.a.
fixed 3 years
3.03% p.a.
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.
