Commonwealth Bank is expanding its Green Loan program to support customers to enhance the energy efficiency of their homes and purchase electric and hybrid vehicles.
Facts
- Commonwealth Bank is expanding its Green Loan program for home loan and personal loan customers.
- The Green Loan is a low, 10-year secured fixed-rate loan at 1.99% p.a.
- Customers with an eligible CommBank home loan or investment loan can buy and install eligible products to make their homes more energy efficient.
- The maximum loan size for the Green Loan is being increased from $20,000 to $30,000, and the range of products eligible for funding is expanding.
- Personal Loan discounts of up to 7.49% p.a. are offered for eligible sustainable products, including electric or hybrid cars, electric car charging stations, solar panels, battery packs, and solar and heat-pump hot water systems.
- The Green Loan can be used for items such as double-glazed windows and to switch homes from gas to electric cooking equipment, in addition to clean energy products already eligible.
- Since October 2022, the bank has helped customers purchase over $30 million of eligible sustainable products through its personal loans.
