Due to growing environmental concerns, lenders have launched green loans to help customers make their homes more energy efficient and environmentally friendly.
Online lender homeloans.com.au has expanded its sustainability initiatives and joined the growing list of green loan providers.
The Green Loan is for current customers who want to retrofit their homes with energy efficient upgrades such as solar panels, electrical energy storage, batteries, and some home appliances with at least 4.5 star energy efficiency. The loan is used in addition to the existing mortgage loan from the lender.
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Customers will benefit from a low introductory rate of 0.89% per annum (comparison rate of 1.73% per annum) for the first five years with loan amounts of up to $ 25,000. After five years, it becomes 2.24% pa
Homeloans.com.au CEO Scott McWilliam said: “Switching to clean energy products can help customers save money on their utility bills and by doing so, they can also reduce their emissions. of carbon for the benefit of the environment. “
The average cost of a basic installation for a solar panel system in a home starts at around $ 3,500 and a system can take around 3 to 5 years to pay for itself.
“Green Loan, our latest initiative, is making credit more accessible to encourage customers to join the movement towards a cleaner, more sustainable future,” says McWilliam.
If you’re one of the many Australians who want to embrace a more sustainable lifestyle, explore other ethical options for greening your finances.
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