FinX News

We get asked a lot about green loans, so we’ve broken down what each bank offers.

ANZ – Good Energy Home Loan

• Interest Rate: 1% p.a. fixed for 3 years (up to $80,000)

• Eligibility: Available for top-ups to your ANZ home loan for energy-efficient home upgrades or electric transport purchases.

• Caveats: Loan must be used for approved eco-friendly improvements, including solar installations, insulation, or EV purchases.

ASB – Better Homes Top-Up Loan

• Interest Rate: 1% p.a. fixed for 3 years (up to $80,000)

• Eligibility: Available to ASB home loan customers for solar panel installations, electric vehicles (EVs), and other energy-efficient upgrades.

• Caveats: Must be used for approved sustainable upgrades like solar, EV chargers, or home insulation improvements.

BNZ – Green Home Loan

• Interest Rate: 1% p.a. fixed for 3 years (up to $80,000)

• Eligibility: Available to existing BNZ home loan customers for eco-friendly home or electric transport upgrades.

• Caveats: The loan can be used for solar panel installations, heat pumps, EV chargers, or other energy-efficient solutions.

Westpac – Warm Up Loan

• Interest Rate: 0% p.a. for 5 years (up to $40,000)

• Eligibility: Available to Westpac home loan customers Heat pumps, including hot water heat pumps, Insulation, Double glazing, Ventilation, Solar power systems and batteries, Rain water tanks, Replacement of household gas appliances, Electric car, Electric vehicle charger.

• Caveats: The home must meet energy-efficiency standards, and proof of improvements is required.

Kiwibank – Sustainable Energy Loan

• Interest Rate: If you borrow more than $5,000, Kiwibank will contribute up to $2,000 towards the system cost—$800 after the first year and $400 at the end of each of the following three years

• Eligibility: You can use the loan for solar power, small-scale hydro, wind energy or geothermal resources. The system you buy has to, Have at least a 10-year manufacturer’s warranty, Be supplied and installed by a company that’s a member of the Sustainable Electricity Association of New Zealand (SEANZ).

• Caveats: Available to Kiwibank home loan customers only. The home loan top-up fee is waived if you're an existing customer.