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Bank First Green Car Loan

Advertiser disclosure

The details shown below are for a fixed loan of at least $5,000

The details shown below are for a variable loan of at least $10,000

The details shown below are for a fixed loan of at least $10,000

The details shown below are for a variable loan of at least $10,000

Choose the version of this loan that suits you best

  • Loan: $5,000

  • Loan: $10,000

  • Loan: $10,000

  • Loan: $10,000

Interest rate from
5.29% p.a.
Comparison rate from
5.56% p.a.based on $30,000
over 5 years
Upfront fee
$195
Interest rate from
5.29% p.a.
Comparison rate from
5.56% p.a.based on $30,000
over 5 years
Upfront fee
$195
Interest rate from
8.29% p.a.
Comparison rate from
8.57% p.a.based on $30,000
over 5 years
Upfront fee
$195
Interest rate from
8.29% p.a.
Comparison rate from
8.57% p.a.based on $30,000
over 5 years
Upfront fee
$195

Mozo editorial review Bank First Green Car Loan - last updated: 10 August 2021

4.5 / 5
binocular icon
What's hot
  • Fixed and variable rates from 5.29% p.a.(5.56% p.a. comparison rate*)
  • Extra repayments and redraw allowed
  • No ongoing service fees
What's not
  • $195 application fee
Mozo snapshot

Going green for your next car? Well, Bank First’s Green Car Loan is designed to fund lower emissions vehicles. There is the option of a fixed or variable interest rate on this loan, both which start at 5.19% p.a. (5.56% p.a. comparison rate*). Customers have flexible repayment options, with extra repayments and redraws, plus Bank First charges no ongoing fees.

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Key features

Whether it’s low emissions, a hybrid or a fully electric car, the Bank First Green Car Loan might be the loan you’ve been searching for. 

There are two types of interest rates available on this product, fixed or variable. Designed for vehicles with a CO2 value of 180g/km or less, rates start at 5.19% p.a. (5.56% p.a. comparison rate*) on both the fixed and variable options. With this loan customers are able to borrow upwards of $10,000 (no maximum limit) and can pay it back over one to seven years. 

There’s plenty of flexibility when it comes to making repayments. Bank First allows customers to choose from a weekly, fortnightly or monthly repayment plan, while offering the ability to make extra repayments and redraws whenever they like. 

When it comes to fees there are no ongoing service charges attached to this loan. Plus, for those that opt for the variable rate there is no early repayment penalty for paying down the entire loan ahead of time. However, fixed loans can come with break costs. Also don’t forget to budget for a $195 upfront application fee. 

snapshot
Who is it good for

Bank First’s Green Car Loan could be a good option for someone looking to buy an eco-friendly vehicle with a loan that gives plenty of choice. Whether you’re after variable or fixed loan, a range of loan terms, want to align your repayments with your pay or like the idea of extra repayments, with this loan it’s all up to you.

question icon
Any catches

There is a minimum of $500 per redraw to be mindful of and remember, you can only redraw on your extra repayments not your regular ones. 

Also watch out for the $20 late payment fee if you miss a regular repayment.

Picture of Polly Fleeting
Polly Fleeting
Money writer

Polly Fleeting is a personal finance writer here at Mozo, specialising in loans and credit cards. Her work is aimed at helping people find ways to make smart product choices, reduce debt and get more for their hard-earned dollars. Polly has a degree in Journalism from the University of Technology, Sydney. She is also ASIC RG146 (Tier 2) certified for general advice.

Details

Rates and fees information correct as at 18 September 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

Fixed

5.29% p.a. fixed

5.56% p.a.based on $30,000
over 5 years

Fees

$195.00

$0.00

$20.00

n/a

Break Cost Fee Applies

Other financial bits

$5,000.00

none

1 Year

7 Years

Vehicle

Features

Weekly, Fortnightly, Monthly

yes

yes

Minimum Redraw of $500. Car must have C02 value of 180 g/km or less as rated by the Australian Government Green Vehicle Guide.

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.

Details

Rates and fees information correct as at 18 September 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

Variable

5.29% p.a.variable

5.56% p.a.based on $30,000
over 5 years

Fees

$195.00

$0.00

$20.00

n/a

$0.00

Other financial bits

$10,000.00

none

1 Year

7 Years

Vehicle

Features

Weekly, Fortnightly, Monthly

yes

yes

Minimum Redraw of $500. Car must have C02 value of 180 g/km or less as rated by the Australian Government Green Vehicle Guide.

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.

Details

Rates and fees information correct as at 18 September 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

Fixed

8.29% p.a. fixed

8.57% p.a.based on $30,000
over 5 years

Fees

$195.00

$0.00

$20.00

n/a

Break Cost Fee Applies

Other financial bits

$10,000.00

none

1 Year

7 Years

Vehicle

Features

Weekly, Fortnightly, Monthly

yes

yes

Minimum Redraw of $500. Car must have C02 value of 180 g/km or less as rated by the Australian Government Green Vehicle Guide.

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.

Details

Rates and fees information correct as at 18 September 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

Variable

8.29% p.a.variable

8.57% p.a.based on $30,000
over 5 years

Fees

$195.00

$0.00

$20.00

n/a

$0.00

Other financial bits

$10,000.00

none

1 Year

7 Years

Vehicle

Features

Weekly, Fortnightly, Monthly

yes

yes

Minimum Redraw of $500. Car must have C02 value of 180 g/km or less as rated by the Australian Government Green Vehicle Guide.

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.

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About Bank First