The Australian Government is offering a green loan subsidy. Qualifying upgrades to make your home more energy and water efficient will get a no interest loan for up to $10,000 for ten years. The government has partnered with lenders to help you receive these loans.
The idea behind green loans is to make your household to more energy and water efficient affordable. The Home Sustainability Assessment is the guide that homeowners can use to make these changes.
In order to empower homeowners to make these changes the Australian government is providing a green loan subsidy to financial lenders. The lenders will then lower the cost of financing these loans to consumers. Homeowners can choose to apply at the Credit Union, building society, or bank of their choice from the a list participants.
A green loan subsidy will cover the interest of a loan up to $10,000 for four years. The lenders must meet national requirements in order to provide the subsidy. One of the agreements is a safeguard that makes sure the entire subsidy will be passed on to each household through the decrease financing costs.
Save on paper with St.George eStatements
By applying for the St.George Vertigo Visa and choosing to receive paperless eStatement credit card statements you can help St.George Bank make a positive contribution to the environment by saving on waste paper. The St.George Vertigo Visa offers a low interest rate on balance transfers and purchases with a low annual fee.
- $55 p.a. annual fee
- 1% p.a. for 12 months (reverts to 13.24% p.a.) on purchases
- 0% p.a. for 18 months on balance transfers
- Cash Advance Rate of 21.49% p.a.
- Up to 55 days interest free
Green loan subsidy providers
- Australia and New Zealand Banking Group (ANZ)
- Australian Central Credit Union – Available only to residents of South Australia, Western Australia, and the Northern Territory.
- AWA Credit Union – Only available to ALCOA employees or contractors and their families.
- Berrima District Credit Union – Only available to resident s of Wollondilly, Wingecarribee, Goulburn, Mulwaree, and Yass Valley.
- Community First Credit Union
- Heritage Bank
- Hunter United Employees Credit Union
- Maleny and District Community Credit Union
- Bank Australia – Members and non members all over Australia are eligible.
- New England Credit Union
- Nova Credit Union
- Queensland Country Credit Union
- Satisfac Direct Credit Union
- Teachers Mutual Bank
- Victoria Teachers Mutual Bank
- Westpac Banking Corporation
If your bank is not on the above list you may still have options, the following lenders have products in development.
- Bananacoast Community Credit Union
- Beyond Bank Australia
- Goldfields Credit Union
- Macarthur Credit Union
- Old Gold Credit Union – Product will only be available to Cadbury Schweppes employees and their families
- Select Credit Union.
In order to qualify for green loans you have to have a house assessment completed. Only those upgrades that are recommended in the assessment will be covered by the loan. It may also be used in conjunction with other Government rebates even if they are for the same items or actions that are listed on your assessment. This is a great chance to help the earth and your pocketbook. These improvements will make your home more energy and water efficient, changes that will make your monthly bill less. Over time you will easily earn back your original investment, especially with an interest free green loan.