Police Bank Green Loan

6.49% p.a.

6.63% p.a.based on $30,000
over 5 years

$98

6.49% p.a.

6.63% p.a.based on $30,000
over 5 years

$98

Police Bank Green Loan Review

Rates and fees information correct as at 23 June 2018.

Review published: 17 November 2016

What's hot:

  • $98 application fee

  • No ongoing account fees

  • Free extra repayments

  • 2017 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 was just awarded a 2017 Mozo Experts Choice Personal Loans Award, and comes with a low interest rate, a budget-friendly application fee and no ongoing fees at all. It also allows flexible repayment options, including free extra repayments and your choice of repayment frequency, although there’s no redraw facility.

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 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.

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.

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.

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.

The Mozo community has not yet rated Police Bank for this personal loan.

Currently showing

Rates

  • Fixed

  • 6.49% p.a. fixed

  • 6.63% p.a.based on $30,000
    over 5 years

Fees

  • $98.00

  • $0.00

  • $10.00

  • $0.00

  • $0.00

Other financial bits

  • $1,000.00

  • $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.

Rates

  • Fixed

  • 6.49% p.a. fixed

  • 6.63% p.a.based on $30,000
    over 5 years

Fees

  • $98.00

  • $0.00

  • $10.00

  • $0.00

  • $0.00

Other financial bits

  • $1,000.00

  • none

  • 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.

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.

*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 for the amounts and terms quoted, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans, and apply only to these examples. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

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