WHAT IS COMMBANK’S GREEN LOAN
The new Commonwealth Bank of Australia’s Green Loan is an incredibly low interest loan of up to $20,000 open to eligible CBA customers. This is CBA’s way of partnering with qualified consumers to creating more energy efficient homes and a way of thanking their loyal customers.
CommBank Green Loan is a 10-year secured fixed rate loan with no establishment fee or monthly loan service fee. Customers with an eligible CommBank home loan or investment home loan can take advantage of the Green Loan to buy and install eligible small-scale renewables such as solar panels, battery packs and electric vehicle charging stations at the security property.
According to Angus Sullivan, CBA’s Group Executive, CommBank is doing its part to contribute to a sustainable future.
“As part of our commitment to the responsible global transition to net zero emissions by 2050, we’re supporting our customers access renewable energy through sustainable housing solutions.
“The CommBank Green Loan offers an historically low 0.99% p.a. secured fixed rate loan for eligible CommBank customers to fund up to $20,000 in renewables repaid over 10 years with no set up, monthly service or early repayment charges, adding to our already market leading home lending solutions.”
“For most customers, they will see their energy bill drop by over $500 per year  if they switch to solar which will offset total repayments of the loan in the long-term. As Australia’s largest lender, we want to help as many customers as possible make their homes more sustainable.”