Funding eco-friendly purchases such as solar panels and electric cars has never been so easy with the Australian Mutual Bank Green Loan. With interest rates starting from a low 7.10% p.a. (7.10% p.a. comparison rate*) and no upfront or ongoing fees to worry about, it’s little wonder this loan was awarded a 2022 Mozo Experts Choice Award for best Green Personal Loan.
Starting with the basics, the Australian Mutual Bank Green Loan offers competitive variable rates from 7.10% p.a. (7.10% p.a. comparison rate*) for loans amounts ranging from $1,000 up to $40,000. It’s an unsecured loan, so borrowers won’t have to put up any of their assets as security. You also have the option to repay this loan over 1 to 7 years, and can choose between weekly, fortnightly or monthly repayments.
But the flexible features don’t stop there. In addition, the Australian Mutual Bank Green Loan allows you to make extra repayments without being hit with an early repayment penalty. Plus there’s a redraw facility in case you need to access any of those additional funds later on.
With the Australian Mutual Bank Green Loan, you can enjoy zero application, exit and ongoing service fees, although watch out for the $50 fee if you miss a repayment deadline.
As the Australian Mutual Bank Green Loan only applies to eco-friendly goods, it best suits borrowers who are looking to fund green or sustainable purchases.
Just beware that this loan is specifically designed to cover eco-related expenses, so if you’re looking to fund a wedding or a diesel car, then a standard personal loan or car loan would be a better fit.
Variable |
|
7.10% p.a.variable |
|
7.10% p.a.based on $30,000 |
$0.00 |
|
$0.00 |
|
$50.00 |
|
$0.00 |
|
$0.00 |
$1,000.00 |
|
$40,000.00 |
|
1 Year |
|
7 Years |
|
Unsecured |
- |
|
Weekly, Fortnightly, Monthly |
|
yes |
|
yes |
|
Purpose must be for the purchase of environmentally sustainable goods or materials for the home |
|
none |
WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. 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.
Unsecured Personal Loan
6.75% p.a.to 26.95% p.a.
6.75% p.a.to 26.95% p.a.based on $30,000
over 5 years
Unsecured Personal Loan
5.76% p.a.to 24.03% p.a.
6.55% p.a.to 24.98% p.a.based on $30,000
over 5 years
Low Rate Personal Loan
6.57% p.a.to 8.48% p.a.
7.19% p.a.to 8.84% p.a.based on $30,000
over 5 years
Express Personal Loan
14.95% p.a.to 27.95% p.a.
29.30% p.a.to 42.8% p.a.based on $10,000
over 3 years
Debt Consolidation
5.76% p.a.to 24.03% p.a.
6.57% p.a.to 24.99% p.a.based on $30,000
over 5 years
Debt Consolidation
6.57% p.a.to 18.99% p.a.
7.19% p.a.to 19.39% p.a.based on $30,000
over 5 years
Express Personal Loan
14.95% p.a.to 27.95% p.a.
29.30% p.a.to 42.8% p.a.based on $10,000
over 3 years
Clean Green Car Loan
7.29% p.a.
8.41% p.a.based on $30,000
over 5 years
Unsecured Personal Loan
6.75% p.a.to 26.95% p.a.
6.75% p.a.to 26.95% p.a.based on $30,000
over 5 years
Unsecured Personal Loan
5.76% p.a.to 24.03% p.a.
6.55% p.a.to 24.98% p.a.based on $30,000
over 5 years
Debt Consolidation
5.76% p.a.to 24.03% p.a.
6.57% p.a.to 24.99% p.a.based on $30,000
over 5 years
Low Rate Personal Loan
6.57% p.a.to 8.48% p.a.
7.19% p.a.to 8.84% p.a.based on $30,000
over 5 years
Express Personal Loan
14.95% p.a.to 27.95% p.a.
29.30% p.a.to 42.8% p.a.based on $10,000
over 3 years
Unsecured Personal Loan
6.75% p.a.to 26.95% p.a.
6.75% p.a.to 26.95% p.a.based on $30,000
over 5 years
Debt Consolidation
5.76% p.a.to 24.03% p.a.
6.57% p.a.to 24.99% p.a.based on $30,000
over 5 years
Unsecured Personal Loan
6.75% p.a.to 26.95% p.a.
6.75% p.a.to 26.95% p.a.based on $30,000
over 5 years
Unsecured Personal Loan
5.76% p.a.to 24.03% p.a.
6.55% p.a.to 24.98% p.a.based on $30,000
over 5 years
Low Rate Personal Loan
6.57% p.a.to 8.48% p.a.
7.19% p.a.to 8.84% p.a.based on $30,000
over 5 years
Debt Consolidation
5.76% p.a.to 24.03% p.a.
6.57% p.a.to 24.99% p.a.based on $30,000
over 5 years