Fixed Rate Personal Loan for Eligible Energy-Efficient Products 3.99% pa (Existing Home Loan Customers Only) @ Commonwealth Bank

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Fixed Rate Personal Loan for Eligible Energy-Efficient Products 3.99% pa (Existing Home Loan Customers Only) @ Commonwealth Bank
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mrvaluepack on 08/05/2025 - 06:45 commbank.com.au (1207 clicks)
Last edited 08/05/2025 - 11:12 by 1 other user

For Eligible energy-efficient products only.

Customers with an eligible CommBank home loan or investment loan (excluding the Viridian Line of Credit limits and the Equity Unlock for Seniors loan), who take out an Unsecured Fixed Rate Loan for eligible energy-efficient purchases (excluding EV and Hybrid cars) will receive an interest rate of 3.99% p.a. (comparison rate 3.99% p.a.), save $250 on the establishment fee, save $15 a month on the loan service fee and have their Early Repayment Adjustment fee waived (comparison rate calculations are inclusive of this offer).

  • Electric or hybrid cars emitting less than 120g CO2 emissions per kilometre (check your car’s emission data on the Green Vehicle Guide). Find out more about EVs.
  • Electric car charging station(s)
  • Solar panels with a system size equal to or greater than 6 kilowatts (kW) (and inverter if applicable)
  • Enabling components to support solar PV and batteries
  • Virtual power plants
  • Energy-efficient window treatments
  • Solar hot water system with a system size equal to or greater than 250 litres (L)
  • Heat pump hot water system with a system size equal to or greater than 250 litres (L)
  • Switching from gas to electric cooking equipment (products must be all-electric and may include induction cooktop, electric element cooktop, electric oven and/or electric steam oven)
  • Battery packs with a system size equal to or greater than 5 kilowatts-hour (kWh)
  • Smart/connected home products (for example smart thermostats, hot water control, lighting control, smart plugs for appliances and equipment control, home automation systems for the purpose of improving energy efficiency)
  • LED lighting
Financial Energy Saving Loan

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Comments

  • dirtyhen1 on 08/05/2025 - 07:36

    Available for a limited time when you apply for an Unsecured Fixed Rate Personal Loan for eligible energy-efficient purchases (excluding EV and Hybrid cars) and fund between 05 November 2024 and 30 May 2025.+

    • tunzafun001 on 08/05/2025 - 10:19

      CBA doesnt know it's @ss from it's face.

      I raised a complaint in October (around t&Cs)…and since then that complaint has resulted in them lodging a string of subsequent complaints (they lodge them themselves when they see there is something wrong).
      I'm actually further away than when I started..and now have 8 case managers…that I never asked for.

      Just basic stuff…can't get it right.

      Blows my mind why anyone would chose to bank with CBA.

      *P.S. this used to be a 0% green loan

      • mrvaluepack on 08/05/2025 - 10:51

        Did the green loan include cars?

        • tunzafun001 on 08/05/2025 - 21:48

          Don't know to be honest. I looked at it for solar for my tenant.

  • Rod M on 08/05/2025 - 08:33

    obviously not sponsored by the CCP

    • ruztynail on 08/05/2025 - 09:12
      +1

      Maybe by the MAGA associates? They got billions from recent insider trades.

      • tenpercent on 08/05/2025 - 09:34
        +1

        Woo hoo! They're both bad! /s

  • tenpercent on 08/05/2025 - 09:12
    -1

    Fixed Rate Personal Loan 3.99%

    This is a full percent below the lowest interest rate fixed rate home loan I could find on the market, and a full 1.75% lower than the CBA's cheapest fixed rate home loan product.

    Either the bank is shirking its fiduciary duty to shareholders (if this interest rate is not commensurate with the risk they are taking on by offering these loan - quite probably considering a lot of the eligible uses are depreciating assets with relatively short useful lives), OR, the bank is shafting customers with its cheapest fixed rate home loan at a full 1.75% higher than this rate (houses would be considered lower risk assets than depreciable electrical knick knacks), in which case they should be taken to task because they have a social license to operate which allows them to create money out of nothing to loan to customers (and directly cause inflation).

    • RMBC on 08/05/2025 - 09:22
      +4

      My guess is this actually gives them a better score for the new ESG disclosures required under the Australian Sustainability Reporting Standards, so it would be acceptable. Your points are no less valid however

    • Commenter on 08/05/2025 - 09:29
      +1

      All green loans are subsidised by the government.

      • Brick50 on 08/05/2025 - 09:31
        +1

        My Bank Australia home loan is subsidised by the government, 5.13% variable

        • tenpercent on 08/05/2025 - 09:35

          Is it a green loan or something else? Why is the government subisidising it?

          • tunzafun001 on 08/05/2025 - 10:20

            @tenpercent: Carbon offset…2030 blah blah …

          • Brick50 on 08/05/2025 - 10:42

            @tenpercent: Yes it is a clean energy loan, had to perform 3 upgrades to get the loan (solar, hot water, ceiling fans)

            • Dalryk on 08/05/2025 - 15:10

              @Brick50: I'd love to get that - just a minor requirement of completely disconnecting from gas first! Gotta replace the heating, the hot water, the stove and the BBQ…

              Crazy that houses that already electric can qualify by installing some ceiling fans :D

              • Brick50 on 08/05/2025 - 15:39

                @Dalryk: Evidence of disconnecting gas is stat dec and a final gas bill, my meter is still there just my connection is turned off.

                I believe all upgrades have to be performed within 18 months and I don’t think new houses qualify for the loan but could be wrong

      • tenpercent on 08/05/2025 - 09:33
        -1

        Thanks. Do you have a source for that?

        I am aware of R&D incentive tax offsets being misused and overused by renewables companies, carbon certificates (basically big 'polluters' get paid to reduce their 'polluting' - kind of like paying a serial rapist to stop raping), direct to consumer subsidies for solar panels, batteries, etc. But this is a new one I wasn't aware of.

        It seems everywhere and every angle you look the renewables industry is just a big rort being kept afloat both directly and indirectly by government money.

  • killragtshirts on 08/05/2025 - 09:13

    Hi,

    Seriously considering this as I'm already a CBA home loan customer. Anyone taken out a green loan before? Is there any gotchas? My payback on the system is about 4 years as I live in an area with plenty of sunshine. I've had a few quotes for solar but haven't pulled the trigger yet. This could be the catalyst.

    • Farmos on 08/05/2025 - 09:25
      +2

      Seems like a win - go CBA if this is what has given you the extra push. Hard to argue that banks are soulless monopolies with this going on!

    • PAFC1870 on 08/05/2025 - 09:44
      +3

      I currently have a CBA Green loan which we took out around 3 - 4 years ago at 0.99% fixed for 10 years for our solar panels. No issue at all with the loan itself, easy to apply for & just ticks along nicely doing its thing. We pay the minimum amount as there was no real benefit to pay off sooner at the interest rate we secured. We are exploring a battery for our system at the moment, if we go ahead and get one we will use the CBA Green loan again.

    • mrvaluepack on 08/05/2025 - 10:47
      +1

      Better make a decision quick, this offer ends in May.

  • railspider on 08/05/2025 - 09:37
    +8

    Is a 5080 considered energy efficient?

    • FoxJump on 08/05/2025 - 10:14

      maybe the solar panel to power it is

      • surg3on on 08/05/2025 - 10:48
        +1

        might need a couple to power a 5080

  • GReeeeN on 08/05/2025 - 09:50

    Can this be used on second hand EVs purchased privately?

  • akhildhanuka on 08/05/2025 - 09:54
    +1

    15$/month fees killed as a good option. no fees, I would be very interested as well.

    • plmko on 08/05/2025 - 09:58
      +1

      That's why you need a comparison rate. This thing would be around 7-8%+ if it were transparent.

    • respecexistances on 08/05/2025 - 10:05
      +2

      Isn't it monthly service fee free if you have an existing CBA Home Loan?

      "+ Customers with an eligible CommBank home loan or investment loan (excluding the Viridian Line of Credit limits and the Equity Unlock for Seniors loan), who take out an Unsecured Fixed Rate Loan for eligible energy-efficient purchases (excluding EV and Hybrid cars) will receive an interest rate of 3.99% p.a. (comparison rate 3.99% p.a.), save $250 on the establishment fee, save $15 a month on the loan service fee and have their Early Repayment Adjustment fee waived (comparison rate calculations are inclusive of this offer)."

      • tunzafun001 on 08/05/2025 - 10:23
        +2

        This is what I raised a complaint about at the top. They keep charging fees for stuff when the t&Cs say they won't.

        I was looking at the 0% green loan…but they couldn't determine if a monthly fee was payable or not.. "not my department I'm sorry ..I'll raise a complaint and put you through".

        Phone disconnects…

  • freedomofspeech on 08/05/2025 - 11:01
    -5

    go woke ….

  • Retchey on 08/05/2025 - 13:11
    -2

    The eligibility for this loan is ridiculous, the installer's have to have all kinds of accreditations , it's a rubbish product, with so many hoops to jump through, don't waste your time .

    • Brick50 on 08/05/2025 - 15:40
      -1

      Any legit solar/heat pump installer will be NET/CEC approved

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