The Green Home offer will provide eligible home loan customers with access to a low standard variable rate of 1.99% p.a. (2.45% p.a. comparison rate*).
Owner occupiers making principal and interest repayments with a Wealth Package and at least a 20% deposit will receive the discounted rate provided the home meets certain sustainability and energy-efficient criteria.
Eligible new and existing CommBank customers can submit an expression of interest from today, with applications to open in May.
CommBank customers will be eligible for the Green Home offer if their new home is certified by the Green Building Council of Australia as a 'Green Star Home' or if the new home or renovations meet all of the following:
- Meet the Nationwide House Energy Rating Scheme’s (NatHERS) 7 stars or greater rating
- Have solar panels
- Electrified through the installation of a hot water system heat pump with no gas.
CommBank’s Executive General Manager of Home Buying Dr Michael Baumann said CommBank wants to reward new and existing customers who are taking steps to make homes more efficient, comfortable and healthier for them and the environment.
“We expect all residential homes to be built to these standards over the coming years as we move towards a net zero future and by introducing the new Green Home Offer we want to encourage customers to take steps now to protect the environment and their home," Dr Baumann said.
"With one in four home loans with CommBank, we have a responsibility to provide customers with accessible solutions that reduce their environmental footprint."
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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 | |||||||||||||
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Variable | More details | ||||||||||||
FEATUREDGET A DISCOUNTED GREEN RATE* | Green Home Loan (Principal and Interest)
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Green Home Loan (Principal and Interest)
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Variable | More details | ||||||||||||
FEATUREDGET A DISCOUNTED GREEN RATE | Green Construction Home Loan (Interest Only)
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Green Construction Home Loan (Interest Only)
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Variable | More details | ||||||||||||
Eco Home Loan (New Customer) (LVR < 60%)
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Eco Home Loan (New Customer) (LVR < 60%)
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Variable | More details | ||||||||||||
Green Home Loan (Principal and Interest) (LVR < 80%)
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Green Home Loan (Principal and Interest) (LVR < 80%)
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Variable | More details | ||||||||||||
Green Offset Home Loan 90 (Interest Only) (LVR < 90%)
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Green Offset Home Loan 90 (Interest Only) (LVR < 90%)
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Variable | More details | ||||||||||||
Sustainable Home Loan (Principal and Interest)
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Sustainable Home Loan (Principal and Interest)
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- Fast turnaround times, can meet 30-day settlement
- For purchase and refinance, min 20% deposit
- No ongoing or monthly fees, add offset for 0.10%
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. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. 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 May 26, 2022. View disclaimer.
Disclaimers
The entire market was not considered in selecting the above products. Rather, a cut-down portion of the market has been considered. Some providers' products may not be available in all states. To be considered, the product and rate must be clearly published on the product provider's web site. Savings.com.au, yourmortgage.com.au, yourinvestmentpropertymag.com.au, and Performance Drive are part of the Savings Media group. In the interests of full disclosure, the Savings Media Group are associated with the Firstmac Group. To read about how Savings Media Group manages potential conflicts of interest, along with how we get paid, please visit the web site links at the bottom of this page.
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