Lower rates to help you go greener

  • 7.50 % PA

    Unsecured Variable loan rate

    Usually 8.50% p.a. – 20.50% p.a.

  • 8.90 % PA

    Unsecured Variable loan - Comparison rate^

  • 7.50 % PA

    Unsecured Fixed loan rate

    Usually 8.50% p.a. – 20.50% p.a.

  • 8.90 % PA

    Unsecured Fixed loan - Comparison rate^

  • 6.49 % PA

    Secured loan rate

    Usually 6.99% p.a. - 10.99% p.a.

  • 7.90 % PA

    Secured loan - Comparison rate^

Why choose CommBank?

Cleaner & cheaper

Get our lowest rate when you buy eligible clean energy products.

We’ve got you covered

Borrow up to $50,000 with an unsecured loan and $100,000 for a secured loan for your clean energy needs, such as electric and hybrid cars or solar panels.

Peace of mind

Know the rate you’ll receive upfront before applying.

Eligible clean energy products

To qualify for the green discount, you must use your personal loan to buy or install eligible products listed below. Keep in mind, to qualify for the green discount, only a Clean Energy Council (CEC) approved retailer and/or installer can install eligible solar panels, inverters (if applicable), as well as battery packs.

  • Solar panels with a system size equal to or greater than 6 kilowatts (kW) (and inverter if applicable) 

  • 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)

  • Battery packs with a system size equal to or greater than 5 kilowatts-hour (kWh)

Personal loan options for your sustainable purchases

Fixed Rate Loan

Features
  • Fixed interest rate and repayments for the term of the loan
  • Make up to $1,000 in extra repayments per year without a fee1
  • Borrow from $4,000 to $50,000
Rates
  • Interest rates: 7.50% p.a. with discount applied (usually 8.50% p.a. – 20.50% p.a.)
  • 8.90% p.a. comparision rate2

Fees

  • $250 establishment fee
  • $15 monthly loan service fee
  • Other fees may apply, e.g. early repayment fee. See more

Apply now

Variable Rate Loan

Features
  • Flexibility to make extra repayments without a fee
  • Redraw available funds through your redraw facility
  • Borrow from $4,000 to $50,000
Rates
  • 7.50% p.a. with discount applied (usualy 8.50% p.a. – 20.50% p.a.)
  • 8.90% p.a. comparison rate2

Fees

  • $250 establishment fee
  • $15 monthly loan service fee
  • Other fees may apply, e.g. late payment fee. See more

Apply now

Secured Personal Loan

Features
  • You can typically pay a lower rate by using your current car or the car you’re buying as security
  • Make up to $1,000 in extra repayments per year without a fee
  • Borrow from $4,000 to $100,000
Rates
  • Interest rates: 6.49% p.a. with discount applied (usualy 6.99% p.a. - 10.99% p.a.)
  • 7.90% p.a. comparison rate2

Fees

  • $250 establishment fee
  • $15 monthly loan service fee
  • Other fees may apply, e.g. early repayment fee. See more

Apply now

Not sure if a personal loan is right for you? See other solutions for your next sustainable purchase

Things to consider

    • If you’re an existing CommBank customer looking to buy solar panels or batteries, you may be eligible for InstalPay, an interest-free loan available via UPowr. 
    • If you have a home loan with us, explore our Going greener with CommBank guide. You may be eligible for a CommBank Green Loan attached to your existing home loan.
    • This offer can only be applied to loans for clean energy purchases. If you wish to borrow money for other purposes, you can apply to increase your existing CommBank Personal Loan or apply for a standard Personal Loan for which the standard Personal Loan pricing (without discount) will apply. 
    • You’re unable to increase or refinance an existing CommBank Personal Loan for clean energy purchases.
    • Learn more about our Personal Loan options, including Unsecured Variable and Fixed loans and Secured Personal Loans, to help you decide which product and features best suit your needs.

Simple steps to apply

    1. Apply online and select “Green purchases” as your loan purpose.
    2. Ensure any products you're intending to purchase will meet our eligibility criteria.
    3. If you're conditionally approved, you'll need to obtain a tax invoice or quote.*
    4. Share the invoice or quote with CommBank.
    5. Once we’re satisfied you’ve met the conditions, we’ll apply the green discount to your loan.

    Apply now

How much does it cost to run an electric vehicle?

Use our comparison tool to see the estimated running costs, emissions and vehicle prices of an EV compared to a petrol, diesel or hybrid vehicle.

Get started

Sustainable living

  • Check out our range of resources to help you live sustainably.

    Visit hub

FAQs

Yes, you'll need to use a Solar Retailer approved by the Clean Energy Council.

$100,000 is the maximum we’ll lend for a secured loan and $50,000 is the maximum we’ll lend for an unsecured loan (subject to credit assessment, loan type and purpose). If you need more, you’ll need to pay the difference from your own savings

Yes, if you have an existing Personal Loan and would like to apply for the green discount, you’ll need to apply for a new Personal Loan. Loan increase and refinance applications aren’t eligible for the green discount.

Yes, to help you decide which loan type might be most suitable, see our Going greener with CommBank guide.

No, you can’t use a Personal Loan for clean energy purchases to recoup costs for products already installed. However, it's available for upgrading your existing eligible products or purchasing new products.

For example, if you have existing clean energy purchases and wish to upgrade them by adding more solar panels or a new battery pack, then you may be eligible for a CommBank Personal Loan.

It’s your responsibility to ensure that you’re satisfied with the quality of your eligible clean energy purchases. If you detect substandard workmanship or materials, or have any disputes with your retailer and/or installer, you should speak with them as soon as possible. Depending on the severity of the matter, you may also need to inform your solicitor.

We won’t become involved with a dispute

We take no responsibility for the quality and warranty of your eligible clean energy purchases. Any work must be completed by an approved retailer and/or installer, certified and trained to ensure systems meet industry best practice standards and all relevant Australian Standards (as approved by the Clean Energy Council).

When trying to decide on the right product, consider:

  • what type of small scale renewables you’re looking to purchase/install
  • if you have a home loan with CommBank
  • the interest rates for the various ‘green’ offers
  • how much you need and the term of loan

For details, see our Going greener with CommBank guide.

You may be eligible for the Green Home Offer if your home meets the GBCA Green Home Standard, or has 7 stars or greater under the Nationwide House Energy Rating Scheme, or already has eligible small-scale renewables installed. 

Enjoy a discount on a Standard Variable Rate for Owner Occupied or Investment Home Loans with either Principal & Interest repayments or Interest Only payments for eligible customers on a Wealth Package.

  • A CommBank Green Loan may be more suitable for you if you’re after a loan for small scale renewables (e.g. solar panels) and you have total CommBank home loan balance/s of $150,000 or more (not including any redraw balances, construction loans which are not yet fully funded, loans for bridging purposes, Equity Unlock for Seniors loan, Viridian Line of Credit or a new CommBank Green Loan). 
  • You may be eligible for InstalPay, our interest-free loan available at checkout via approved CommBank merchant UPowr, if you’re an existing CommBank customer looking for an interest-free loan to purchase solar panels and/or batteries.
  • A CommBank Personal Loan for clean energy purchases may not be right for you if the features listed above aren’t suitable and don’t meet your needs

In addition to our standard loan application documents (evidence of income, expenses, assets and liabilities etc.), there are other specific documents you’ll need to provide to be eligible for a green discount:

  • Purchase amount (the loan amount must not exceed the purchase amount)
  • Retailer and/or installer details; and
  • Itemised system* details for the eligible clean energy product(s).

We’ll check the documentation you provide us and apply the green discount to your loan once we’re satisfied you’ve met the above conditions. If we’re not satisfied, our standard pricing (without any discount) will apply should you wish to proceed with your loan.

  • You’re unable to increase or refinance an existing CommBank Personal Loan for clean energy purposes.
  • If you’ve already bought and installed eligible clean energy products, you can't use a CommBank Personal Loan for clean energy purposes to recoup your out-of-pocket costs or to refinance an existing loan.

Things you should know

  • ^ Comparison rates are calculated based on an unsecured loan of $30,000 and a secured loan of $30,000, over a term of five years. WARNING: Comparison rate is true only for examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

    * System size noted on the invoice/quote must be equal to or greater than our requirements as set out under ‘Eligible clean energy products’.

    This guide doesn’t consider your individual objectives, financial situation or needs. Before basing any decisions on this information, please consider:

    • its appropriateness to your circumstances
    • obtaining professional advice specific to your needs, including financial, taxation and legal advice.

    1 Additional repayments made on a Fixed Rate Loan are not available to be redrawn. View the Personal Loan Terms and Conditions.

    2 Comparison rates are calculated based on an unsecured loan of $30,000 and a secured loan of $30,000, over a term of five years. WARNING: Comparison rate is true only for examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

    The Commonwealth Bank is not authorised and does not make any assertions about reduced consumption from non-renewable energy sources through clean energy purchases installations. You should seek advice and further information from relevant certified industry professionals.

    Loan applications are subject to credit approval and any loan offer includes full terms and conditions. Fees and charges apply. All examples and scenarios are illustrative only.

    Information and interest rates are current as at 25 May 2024 and are subject to change.

    For more information about Target Market Determination (TMD), please refer to the TMD.

    Commonwealth Bank of Australia ABN 48 123 123 124, AFSL & Australian credit licence number 234945.