CommBank’s new 0.99% green loan to help Australians buy renewable technology
The Commonwealth Bank has announced that it will soon launch a new loan to help Australians adopt renewable technologies and make their homes more sustainable.
The CommBank Green Loan has a low guaranteed fixed rate of 0.99% per annum and will be available to CommBank home and investment loan clients who wish to install qualifying small-scale renewable technologies in their homes.
Customers will be able to borrow up to $ 20,000 to purchase items such as solar panels, battery packs and electric vehicle chargers. According to the ABC, there will be no set-up or monthly service fees, or prepayment penalties.
CommBank Group executive Angus Sullivan said customers switching to solar could save more than $ 500 a year, which is enough to offset long-term loan repayments.
“We have a responsibility to meet the current needs of our customers and the community while operating in a sustainable manner for future generations, and our new CommBank green loan will make financing more accessible,” he said.
CommBank also noted that qualifying technologies must be installed by a certified technician who can ensure all industry best practice standards and…
Source: bollyinside
