CommBank Green Loan is a 10-year secured fixed rate loan designed for eligible home loan customers to buy and install clean energy products.
Join the growing number of Australians switching to solar and making their homes energy efficient.
Introducing CommBank Green Loan
0.99%PA 10 Year fixed rate and Comparison rate
Minimum loan size $5,000. Maximum loan size $20,000. Comparison rate warning.
An ultra-low, secured fixed rate loan with no establishment fee, monthly loan service fee or early repayment fee.
Customers with an eligible CommBank home loan or investment home loan can use the CommBank Green Loan to buy and install eligible clean energy products such as solar panels, battery packs and solar hot water systems at the property secured by their existing home loan.
At a glance
What you’ll get:
- Ultra low-rate loan to be repaid over 10 years
- The flexibility to make additional payments or pay off your loan sooner with no fees or penalties
- $0 establishment fee
- $0 monthly loan service fees
- Borrow from $5,000 to $20,000 to fund the purchase and installation of eligible clean energy products.
Things to consider:
- You won’t have access to an offset account, redraw or features like top-ups
- Switching and splitting aren’t available for this loan.
Eligible clean energy products
You can use a CommBank Green Loan to buy and install one or more of the eligible clean energy products listed below.
- Solar panels with a system size equal to or greater than 6 kilowatts (kW) (and inverter if applicable)
- Battery packs with a system size equal to or greater than 5 kilowatt-hour (kWh)
- Solar hot water system with a minimum system size equal to or greater than 250 litres (L)
- Heat pump hot water system with a system size equal to or greater than 250L
- Electric vehicle charging station(s)
Keep in mind, solar panels (and inverters) and battery packs must be installed by a retailer and/or installer approved by the Clean Energy Council. This helps ensure the chosen systems meet all relevant Australian standards.
TIP: It’s important to do some research and spend time finding the right solar retailer and/or installer for your project. Get multiple quotes and compare them before choosing the right one for you. Check out approved solar retailers near you.
You can find out more about eligible products in the FAQs.
Are you eligible?
If you’re an existing CommBank home loan customer, you can apply for the CommBank Green Loan provided your current loan meets the conditions below:
- Existing eligible home loan balance of $150,000 or more (not including your available redraw balance);
- The loan is secured against a single property and is not an apartment or commercial property;
- The loan to value ratio of the existing home or investment home loan plus new CommBank Green Loan does not exceed 80%;
- The installation address of the eligible small-scale renewables matches the address we have listed as security for your home loan or investment home loan.
For more information, download the CommBank Green Loan guide (PDF).
How to apply
- Call our dedicated Green Loan team on 1800 965 047 between 9am – 7pm (Sydney/Melbourne time), contact your Relationship Manager or visit your nearest branch to confirm your eligibility and complete a CommBank Green Loan application.
- If you’re conditionally pre-approved, source a quote for eligible clean energy products from an approved retailer.
- Share the quote with CommBank and we’ll let you know when your new CommBank Green Loan is approved. You can then instruct your retailer and/or installer to proceed.
- Once installation is complete, send CommBank the final invoice.
- We’ll pay the invoice directly to the approved installer and you’ll be able to see your CommBank Green Loan in NetBank and the CommBank app.