Suncorp, homeloans.com.au join green home loan movement

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on September 24, 2021
Suncorp, homeloans.com.au join green home loan movement

Suncorp and Homeloans.com.au have launched new loan and cashback incentives for customers making 'green' changes to their home.

Today, Suncorp Bank announced its new Solar Home Bonus for customers reducing their environmental footprint and transitioning to renewable energy in their home. 

New and existing Suncorp Bank home loan customers who have a solar power system or will have one installed in their homes by 31 December 2021, may be eligible to receive a cash bonus.

The Suncorp Solar Home Bonus offer includes:

  • $3,000 cashback for customers signing up to a new eligible Suncorp Bank home loan. 
  • Cashback for loans of both houses and townhouses which have an eligible solar system installed.
  • $500 cashback for eligible existing customers who already have a solar power system installed. 

Suncorp Bank CEO Clive van Horen said that they know sustainability is increasingly important to their customers. 

"We are committed to providing banking solutions for customers that support sustainability and our Solar Home Bonus is a practical step towards a more sustainable world," Mr van Horen said.

Homeloans.com.au launches new Green Loan

Online home loan provider homeloans.com.au has launched a new Green Loan to help customers upgrade their homes with energy-efficient improvements.

With an introductory rate of 0.89% pa (comparison rate 1.73% pa*) and loan amounts of up to $25,000, customers can purchase and install energy-efficient products such as solar panels, electrical energy storage, battery packs and eligible home appliances.

Scott McWilliam, CEO of homeloans.com.au, said it was a timely opportunity for homeowners to take control of spiraling electricity costs and invest in clean energy solutions.

"With much of Australia spending more time at home in the past 12 months than ever before, many households may be feeling the burn of electricity bill shock," Mr McWilliam said.

"Switching to clean energy products can help customers save money on their utility bills, and in doing so, they can also reduce their carbon emissions to benefit the environment.

"We know that some of these systems can require a significant investment up-front, which can limit adoption notwithstanding the clear benefits."

Also read:

Green loans gaining momentum

Green loans and cashback offers have taken off this year, as many lenders have incentivised sustainable choices in Aussie homes. 

In February, CBA announced its green loan and last week Gateway introduced a $2,000 cashback offer for green home loans. 

Green personal loans have also gained momentum, with lenders like Community First offering a personal loan under 4%. 

Neobank lifts mortgage rate

86 400 increased its 'Own Home Loan' fixed for three years paying principal & interest for owner occupiers with a maximum LVR of 80%.

The home loan was increased by 10 basis points to 1.95% p.a. (2.50% p.a. comparison rate*) 


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Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.

Lender

Variable
More details
UNLIMITED REDRAWSSPECIAL OFFER
  • 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%
UNLIMITED REDRAWSSPECIAL OFFER

Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)

  • 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%
Variable
More details
AN EASY DIGITAL APPLICATION
  • No ongoing fees - None!
  • Unlimited additional repayments
  • Easy online application, find out if you're approved quick!
  • Redraw- Access your additional payments if you need them
  • Use the app to get loan insights to help you pay off your home loan faster
AN EASY DIGITAL APPLICATION

Neat Variable Home Loan (Principal and Interest) (LVR < 60%)

  • No ongoing fees - None!
  • Unlimited additional repayments
  • Easy online application, find out if you're approved quick!
  • Redraw- Access your additional payments if you need them
  • Use the app to get loan insights to help you pay off your home loan faster
Variable
More details
100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES
  • No upfront or ongoing fees
  • 100% full offset account
  • Extra repayments + redraw services
100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES

Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)

  • No upfront or ongoing fees
  • 100% full offset account
  • Extra repayments + redraw services
Variable
More details
NSW/VIC/SA METRO & INNER REGIONAL AREAS$5000 CASHBACK. T&Cs APPLY.
  • No upfront or ongoing fees
  • 100% full offset account
  • Extra repayments + redraw services
NSW/VIC/SA METRO & INNER REGIONAL AREAS$5000 CASHBACK. T&Cs APPLY.

Variable Home Loan (Principal and Interest)

  • No upfront or ongoing fees
  • 100% full offset account
  • Extra repayments + redraw services

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 25, 2022. View disclaimer.



Image by Aaron Burden via Unsplash

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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Aaron joined Savings.com.au in 2021. He is a finance journalist with a keen interest in property, the share market, and improving financial literacy in young Australians.

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