Police Bank are rewarding environmentally aware borrowers with their Green Loan product - a low rate, low fee personal loan designed to help Aussies fund a range of eco-friendly projects, including installing solar panels and batteries, installing rainwater tanks, buying energy or water efficient white goods and certified double glazing for windows.
This is certainly a budget friendly loan - it comes with a fixed 6.49% interest rate and a low upfront fee of just $98. You can borrow amounts starting at $1,000, and choose between the secured or unsecured option - but keep in mind that while the secured option has no upper limit on loan amount, if you opt for an unsecured loan, it will be capped at $50,000. Loan terms range from 1 to 7 years.
There are no ongoing fees to budget for, and with Police Bank’s Reduced Fees Program, your loan balance may even help you qualify for fee free transactions on other banking products.
Who it's good for:
You don’t have to be a member of the police force to apply for the Police Bank Green Loan - so it’s a great option for any budget savvy Aussie with an environmentally-friendly project in the works.
If you’re after a personal loan to buy a car or renovate your kitchen, this isn’t the one for you. You can check out our personal loan comparison for other more suitable options.