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Gateway Bank Green Plus Home Loan

Advertiser disclosure
Rate
1.89% p.a.
Comparison Rate
2.24% p.a.
Service fee
$299.00 yearly
Upfront fee
$0

Mozo editorial review Gateway Bank Green Plus Home Loan - last updated: 5 November 2021

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What's hot
  • 1.89% p.a. (2.24% p.a. comparison rate*)
  • Free extra repayments and redraw facility
  • 100% offset account available
What's not
  • $299 yearly service fee
  • $300 discharge fee
Mozo snapshot

For those who are looking to reduce their home’s environmental impact, Gateway Bank’s Green Plus Home Loan offers reduced rates and a range of handy features, including an offset account, free extra repayments, and access to a redraw facility. Borrowers who apply before 31 December 2021 and settle by 31 March 2022 can also receive $2,000 cashback when taking out a loan or refinancing an existing one worth at least $250,000 (LVR 80%).

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Key features

The Green Plus Home Loan from Gateway Bank rewards borrowers who are looking to buy, refinance, build or upgrade to an energy efficient home. So long as your property scores at least 7 stars under the Nationwide House Energy Rating Scheme (NatHERS) or Residential Efficiency Scorecard, you could be looking at variable rates as low as 1.89% p.a. (2.24% p.a. comparison rate*), along with a range of handy features to make your home loan journey as smoothly as possible.

That includes the ability to make free extra repayments, access a redraw facility, and hedge against interest rate changes by splitting your loan. The 100% offset account is also a welcome addition, allowing borrowers to save by reducing the balance on which interest is charged. Funds are also available to access 24/7 via the linked Visa Eco Debit card.

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Who is it good for

This home loan could be a good fit for those looking for a full featured home loan with competitive rates to reward their efforts to protect the environment.

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Any catches

You will need to provide a certificate from an accredited NatHERS or Residential Efficiency Scorecard assessor showing a rating of 7 stars or higher in order to be eligible. A few fees will apply, including a $299 yearly service fee and a $30 discharge fee.

Details

Rates and fees information correct as at 6 December 2021. 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

1.89% p.a.

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n/a

n/a

2.24% p.a.

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n/a

n/a

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n/a

n/a

n/a

Fees

$0.00

$0.00

$0.00

$0.00

n/a

$299.00 yearly

$300.00

Other financial bits

$150,000

none

none

80.00%

Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

none

yes - free

$500.00

yes

yes

To meet eligibility criteria properties must have a 7 Star NatHERS Energy Efficient rating. A $95 fee applies for each security discharge in addition to the first. A valuation fee may apply if non-standard or more than one security is used.

none

Receive $2,000 cashback when you refinance or purchase a home loan of $250,000 or more with an LVR of equal to or less than 80%. Must apply before 31 December, 2021 and settle by 31 March, 2022.

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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About Gateway Bank

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.