Bank Australia's Eco Plus Clean Energy Home Loan has increased incentives for new homes that have a Nationwide House Energy Rating Scheme (NatHERS) rating of 7.5 stars or higher plus a solar system.

Backed by an investment of $30 million from the Clean Energy Finance Corporation (CEFC), new homes may be eligible for a discount of 0.30% p.a. for up to five years on their home loan interest rate.

The mutual bank offers three different ways to access their Clean Energy Home Loan product, in the form of 'Eco', 'Eco Upgrade' and 'Eco Plus'.

Eco and Eco Upgrade products are eligible for a 0.20% p.a. discount, with the Eco Plus product eligible for the increased 0.30% p.a. discount depending on eligibility criteria.

Customers can qualify for the Eco Plus Clean Energy Home Loan by achieving a NatHERS rating of 7.5 stars with the addition of solar panels or by using the new Green Star Homes certification from the Green Building Council of Australia.

The Eco Plus Clean Energy Home Loan product for customers with a maximum loan-to-value ratio (LVR) of 90% offers a variable rate of 2.15% p.a. (2.73% p.a. comparison rate*).

Clean Energy Finance Corporation CEO Ian Learmonth said the organisation is pleased to continue working with Bank Australia to provide Australians with added incentives to choose greener options for their homes.

"Building homes that have strong energy efficiency measures today creates more resilient cities and regions for the future," Mr Learmonth said.

"At the same time, incentivising new home buyers and builders to adopt stronger sustainability design standards is an important step in reducing our carbon footprint as we transition towards net zero emissions."

Last week, Suncorp announced the introduction of a 'Green Upgrades' home loan launching at the end of June to help Aussies save money on electricity bills while making a positive difference for the environment.


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Building or buying an energy-efficient home? This table shows some of the lowest interest rates in the market for 'green' home loans.

Lender

VariableMore details
90% LVR
  • You MUST already have Solar or a documented plan to install within 90 days to be eligible for this loan
  • Available for refinance or purchase
  • No monthly, annual or ongoing fees
90% LVR

loans.com.au – Solar Investor Loan (Principal & Interest) (LVR < 90%)

  • You MUST already have Solar or a documented plan to install within 90 days to be eligible for this loan
  • Available for refinance or purchase
  • No monthly, annual or ongoing fees
FixedMore details

Bank Australia – Clean Energy Home Loan Package - Eco Plus Fixed 3 Years (Principal & Interest) (LVR < 90%)

    VariableMore details

    Gateway Bank – Green Plus Home Loan (Principal and Interest) (LVR < 80%)

      VariableMore details

      Summerland Bank – Eco Investment Loan (New Customer) (LVR < 60%)

        VariableMore details

        Gateway Bank – Green Plus Investment Loan (Principal and Interest) (LVR < 80%)

          VariableMore details

          Regional Australia Bank – Sustainable Home Loan (Principal and Interest)

            VariableMore details

            Firstmac – Solar Investment Loan (Principal and Interest) (LVR < 90%)

              Important Information and Comparison Rate Warning

              Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of December 10, 2023. View disclaimer.

              Image by Wynand van Poortvliet via Unsplash





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