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Bank Australia Clean Energy Home Loan

Advertiser disclosure
The details shown below are for an owner occupier taking out a principal & interest loan of at least $10,000 with an LVR below 90%
The details shown below are for an owner occupier taking out a principal & interest loan of at least $10,000 with an LVR below 90%

Choose the version of this loan that suits you best

Availability Loan type LVR Min loan amount Max loan amount
Owner Occupier Principal & Interest < 90% $10,000
Owner Occupier Principal & Interest < 90% $10,000
  • Owner Occupier (Principal & Interest)
    LVR < 90%
    Loan: $10,000
  • Owner Occupier (Principal & Interest)
    LVR < 90%
    Loan: $10,000
Rate
5.98% p.a.variable for 60 months and then 6.18% p.a.
Comparison Rate
6.41% p.a.
Service fee
$350.00 yearly
Upfront fee
$0
Rate
5.88% p.a.variable for 60 months and then 6.18% p.a.
Comparison Rate
6.37% p.a.
Service fee
$350.00 yearly
Upfront fee
$0

Mozo editorial review Bank Australia Clean Energy Home Loan - last updated: 12 March 2024

binocular icon
What's hot
  • Variable rates as low as 5.98% p.a. (6.42% p.a. comparison rate*)
  • Optional mortgage offset account
What's not
  • $350 yearly fee
Mozo snapshot

This green home loan from Bank Australia could act as a great accompaniment for anyone looking to buy or build a more environmentally friendly home. If eligible for this home loan, you could receive a pretty substantial 0.30% discount on your variable interest rate for the first five years of the loan. 

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Key features

Variable interest rates for Bank Australia’s Clean Energy Eco Home Loan start from as low as 5.98% p.a. (6.42% p.a. comparison rate*). You can grab this introductory rate for the first 60 months (five years) of your loan if you’re looking to borrow $10,000 or more. The offer comes with a loan to value ratio of <90%, so you will need a deposit of at least 10% saved up, which could make it accessible for first time buyers. 

Now of course, to get any of these discounted rates in the first place you will have to meet the criteria of the Clean Energy Eco Home Loan. This particular home loan is designed to encourage Aussies to invest in homes that are kinder to the planet. So to be eligible for the loan, the home you are buying or building will either need to have both a NatHERS (Nationwide House Energy Rating Scheme) rating of 7 stars or higher and solar panels (minimum 3kw) - or you'll need to have a Green star homes certification (be sure to check the full T&C's)

Other perks include the ability to make free extra repayments, meaning you could have your loan paid off sooner than you think; a free redraw facility, in case you find yourself short on funds; a Mortgage Offset account; and the ability to split your loan into two different accounts. This last feature will allow you to pay one portion of your loan with a guaranteed fixed interest rate and the other with a possibly lower variable rate, meaning you really can have the best of both interest rate worlds.

On top of all that you’ll not only have the regular fee on your Everyday Access account or Mortgage Offset account waived, but you could also have the establishment fee on a personal loan waived. And if you’re looking to get a Platinum Rewards Visa Credit Card, you’ll be happy to hear that not only will you have the fee waived, but you’ll also benefit from 0% interest on balance transfers for the first 12 months.

snapshot
Who is it good for

This home loan is good for anyone who wants to make their eco-dreams a reality with a discounted home loan rate. If you’re looking to build or buy a home with any of the following certifications, then this loan might just be the right one for you:

  • 7 plus star rating under the Nationwide House Energy Rating Scheme (NatHERS) and solar panels (minimum 3kw)

  • 7 stars or more rating with the Residential Efficiency Scorecard (this 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.’

  • Renovating your home with 3 or more eligible ecofriendly features.

question icon
Any catches

You will have to pay a $350 yearly fee to access all the perks that come with this green home loan. It should also be noted that the discounted interest rate only applies for the first five years of the loan, after which it will revert back to the standard variable rate (which will be dependent on your particular loan amount and LVR).

Details

Rates and fees information correct as at 18 May 2024. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

6.18% p.a.

5.98% p.a.

60 Months

Variable

6.41% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$0.00

$0.00

n/a

$350.00 yearly

$250.00

Other financial bits

$10,000

none

none

90.00%

Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

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 three Eco Upgrades completed 12 months prior to applying.

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.

Details

Rates and fees information correct as at 18 May 2024. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

6.18% p.a.

5.88% p.a.

60 Months

Variable

6.37% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$0.00

$0.00

n/a

$350.00 yearly

$250.00

Other financial bits

$10,000

none

none

90.00%

Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

yes

yes - free

$0.00

yes

yes

Property must have NatHERS rating of 7.5+ stars and solar panels (min 3kW), or Green Star Homes certification.

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.

Customer Reviews

How are Bank Australia home loans rated by the Mozo community?

Overall
7.7/10
Price
7.5/10
Features
6.9/10
Customer service
7.6/10
Convenience
7.1/10
Trust
7.7/10
Based on 98 Bank Australia home loan reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.

About Bank Australia

Thumbnail icon for Unloan
Unloan

Variable

5.99% p.a. variable

5.90% p.a.

Thumbnail icon for Macquarie
Macquarie

Basic Home Loan (Fixed)

6.25% p.a.
fixed 3 years

6.20% p.a.

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HSBC

Home Value Loan

6.09% p.a. variable

6.09% p.a.

Thumbnail icon for Unloan
Unloan

Variable

6.29% p.a. variable

6.20% p.a.

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ubank

Flex Home Loan Fixed

5.99% p.a.
fixed 3 years

6.41% p.a.

Thumbnail icon for ANZ
ANZ

Fixed Rate

6.59% p.a.
fixed 3 years

7.06% p.a.

Thumbnail icon for Macquarie
Macquarie

Basic Home Loan

6.14% p.a. variable

6.16% p.a.

Thumbnail icon for ING
ING

Mortgage Simplifier

6.14% p.a. variable

6.17% p.a.

Thumbnail icon for Unloan
Unloan

Variable

5.99% p.a. variable

5.90% p.a.

Thumbnail icon for Macquarie
Macquarie

Basic Home Loan

6.14% p.a. variable

6.16% p.a.

Thumbnail icon for Unloan
Unloan

Variable

6.29% p.a. variable

6.20% p.a.

Thumbnail icon for ubank
ubank

Flex Home Loan

6.24% p.a. variable

6.48% p.a.

Thumbnail icon for Aussie
Aussie

Elevate

6.09% p.a. variable

6.20% p.a.

Thumbnail icon for ubank
ubank

Flex Home Loan

6.19% p.a. variable

6.43% p.a.

Thumbnail icon for ING
ING

Fixed Rate Loan (with Orange Advantage)

5.99% p.a.
fixed 3 years

6.12% p.a.

Thumbnail icon for Macquarie
Macquarie

Offset Home Loan (Package)

6.14% p.a. variable

6.39% p.a.

Thumbnail icon for Unloan
Unloan

Variable

5.99% p.a.

5.90% p.a.

Thumbnail icon for Macquarie
Macquarie

Basic Home Loan

6.14% p.a.

6.16% p.a.

Thumbnail icon for ubank
ubank

Flex Home Loan

6.19% p.a.

6.43% p.a.

Thumbnail icon for Aussie
Aussie

Elevate

6.09% p.a.

6.20% p.a.

Thumbnail icon for ING
ING

Mortgage Simplifier

6.14% p.a.

6.17% p.a.

Thumbnail icon for Macquarie
Macquarie

Offset Home Loan (Package)

6.14% p.a.

6.39% p.a.

Thumbnail icon for Bendigo Bank
Bendigo Bank

Express Home Loan (Fixed)

6.04% p.a.
fixed 3 years

6.15% p.a.

Thumbnail icon for Macquarie
Macquarie

Basic Home Loan (Fixed)

6.25% p.a.
fixed 3 years

6.20% p.a.

Thumbnail icon for Bendigo Bank
Bendigo Bank

Express Home Loan (Fixed)

6.54% p.a.
fixed 3 years

6.38% p.a.

Thumbnail icon for ubank
ubank

Flex Home Loan Fixed

5.99% p.a.
fixed 3 years

6.41% p.a.

Thumbnail icon for ING
ING

Fixed Rate Loan (with Orange Advantage)

5.99% p.a.
fixed 3 years

6.12% p.a.

Thumbnail icon for Macquarie
Macquarie

Basic Home Loan (Fixed)

6.35% p.a.
fixed 3 years

6.26% p.a.

Thumbnail icon for Bendigo Bank
Bendigo Bank

Express Home Loan (Fixed)

6.54% p.a.
fixed 3 years

6.38% p.a.

Thumbnail icon for ANZ
ANZ

Fixed Rate

6.59% p.a.
fixed 3 years

7.06% p.a.

Thumbnail icon for G&C Mutual Bank
G&C Mutual Bank

First Home Buyer Loan

5.90% p.a.

5.93% p.a.

$0.00

Thumbnail icon for Community First Bank
Community First Bank

Basic Variable Home Loan

5.94% p.a.

5.99% p.a.

$0.00

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.

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