Green Loan
An unsecured personal loan that can be used to finance the purchase of approved environmentally friendly products.
Go green to
reduce your bills
Fast approval
process
Apply Online
in under 10 minutes
Overview
Key features of the Green Loan are:
- Minimum loan amount $4,000, maximum $75,000
- Loan Purpose: Energy, Hot Water, Battery Storage, Insulation, Energy Efficient Cooling/Heating, Water Capture & Recycling, 5-star rated or higher household appliances.
- Loan terms from 1-7 years
- Unsecured Loan
- The ability to make extra repayments or pay off your loan early without penalty
- Flexible repayment frequency - pay weekly, fortnightly or monthly
- The option to make repayments straight from your salary
- $10 monthly fee
Rates & Fees
Here's a summary of the rates and fees for the Green Loan:
- Interest rate: 7.15% p.a.
- Comparison rate*: 8.06% p.a.
*Comparison rate based on a $30,000 loan over 5 years unsecured. WARNING: The comparison rate is applicable only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
- Application fee: $150
- Monthly fee: $10
Download our Fees and Charges Schedule
Questions
Here are the most common questions we get asked about our Green Loan. Have a different question? Call us on 1300 13 23 28.
What is a green loan?
A green loan is a type of unsecured loan that can be used to fund the purchase and installation of approved clean energy products, helping you lower your power bills while supporting the health of the planet. Australian Military Bank green loans can provide a lower interest rate than traditional personal loans or credit cards, and with terms of up to 7 years, offer affordable repayments to help more homeowners access the benefits of clean energy technology.
What can I specifically use a green loan for?
Green loans can only be used to fund the purchase and installation of energy efficient products. They include:
- Energy: Solar panels and systems, photo voltaic (PV) panels and systems, wind turbines and micro hydro systems [all domestic purpose only].
- Hot Water: Solar hot water systems, solar pool heater and energy efficient instantaneous hot water systems.
- Battery Storage
- Insulation: Roof & wall insulation and certified double or triple glazing for windows.
- Energy Efficient Cooling / Heating: External awnings; split system, evaporative cooler or high star rated, zoned air conditioner; gas, solar, hydronic or reverse cycle air conditions with a min 5-star rating; highly efficient electric heaters or solar, hydronic or heat pump system (min 5 from 6 or 6 from 10 stars); and home ventilation systems.
- Water Capture & Recycling: Rainwater tanks, water pumps, grey or black-water treatment systems.
- Household: Energy efficient whitegoods and appliances (min 5 from 6 or 6 from 10 stars), water efficient whitegoods and appliances (min 5 from 6 stars), light emitting diode (LED) lighting, other energy efficient lighting, Tesla Power Wall and solar appliances.
Is the Australian Military Bank Green Loan applicable for hybrid cars?
No, this is currently not available as a loan purpose. However, we can assist with the purchase of a vehicle through our competitive Car Loans.
What do I need to access funds?
Members will need a receipt or invoice for funds to be released. These will be paid directly to the supplier.
How do I apply for the Australian Military Bank Green Loan?
Please refer to our guide for more information on the application process - Download
