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Police Bank Green Loan

The details shown below are for a fixed loan between $5,000 and $50,000

The details shown below are for a fixed loan between $5,000 and $120,000

Choose the version of this loan that suits you best

  • Loan: $5,000 $50,000

  • Loan: $5,000 $120,000

Interest rate from
5.79% p.a.
Comparison rate from*
5.93% p.a.based on $30,000
over 5 years
Upfront fee
$98
Interest rate from
5.79% p.a.
Comparison rate from*
5.93% p.a.based on $30,000
over 5 years
Upfront fee
$98

Mozo editorial review Police Bank Green Loan

Last updated: 1 March 2020.

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What's hot
  • No ongoing account fees
  • Free extra repayments
  • $98 application fee
  • 2019 Mozo Experts Choice Award winner
What's not
  • No redraw facility
Mozo snapshot

If you’re planning to go green, then the Police Bank Green Loan might be just the thing to make your eco-friendly aspirations a reality. This competitive personal loan comes with a low interest rate, a budget-friendly application fee and no ongoing fees at all, plus was a 2019 Mozo Experts Choice Award winner for best Green Personal Loan. It also allows flexible repayment options, including free extra repayments and your choice of repayment frequency, although there’s no redraw facility.

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Key features

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 5.79% interest rate (5.93% comparison 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.

So that you can pay off your loan in a way that suits you, you’ll also be able to make repayments on a monthly, fortnightly or weekly basis, as well as making fee free extra repayments. And the best part about that? There are no early repayment penalties to worry about.
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Who is it 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.

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Any catches

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.

Plus, don’t forget that there’s no redraw facility available - which means if you’re making extra repayments, there’s no way to get that cash back in your pocket later on.

Details

Rates and fees information correct as at 12 July 2020. 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

  • 5.79% p.a. fixed

  • 5.93% p.a.based on $30,000
    over 5 years

Fees
  • $98.00

  • $0.00

  • $10.00

  • $0.00

  • $0.00

Other financial bits
  • $5,000.00

  • $50,000.00

  • 1 Year

  • 7 Years

  • Unsecured

Features
  • Weekly, Fortnightly, Monthly

  • yes

  • no

  • Available for a range of environmental initiatives, such as solar hot water systems, rainwater tanks, green vehicles or top energy savings white goods.

  • Reduced fees Program for qualified customers.

*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. 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.

Details

Rates and fees information correct as at 12 July 2020. 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

  • 5.79% p.a. fixed

  • 5.93% p.a.based on $30,000
    over 5 years

Fees
  • $98.00

  • $0.00

  • $10.00

  • $0.00

  • $0.00

Other financial bits
  • $5,000.00

  • $120,000.00

  • 1 Year

  • 7 Years

  • Various

Features
  • Weekly, Fortnightly, Monthly

  • yes

  • no

  • Available for a range of environmental initiatives, such as solar hot water systems, rainwater tanks, green vehicles or top energy savings white goods.

  • Reduced fees Program for qualified customers.

*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. 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.

Customer Reviews

How are Police Bank personal loans rated by the Mozo community?

Overall customer rating
8.3/10
Price
8.4/10
Features
7.9/10
Customer service
8.8/10
Convenience
7.4/10
Trust
8.5/10
Police Bank

About Police Bank

Police Bank has specially designed its financial products to offer financial solutions to the employees and families of the Police service. Police Bank offers a range of financial products and services in savings accounts, home, car and personal loans, term deposits, credit and debit cards and a range of insurance products, ensuring that its members financial needs are taken care of.

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