We'll take care of you, for taking care of the environment.
Unsecured Variable loan rate
Usually 8.50% p.a. – 20.50% p.a.
Unsecured Variable loan - Comparison rate^
Unsecured Fixed loan rate
Usually 8.50% p.a. – 20.50% p.a.
Unsecured Fixed loan - Comparison rate^
Secured loan rate
Usually 6.99% p.a. - 10.99% p.a.
Secured loan - Comparison rate^
Things you should know
Your interest rate may be different and is based on a number of factors, including your credit history, the information you provide and our assessment of your application. We'll confirm your interest rate upon submission of your application.
Get a discounted interest rate when you buy eligible energy-efficient products.
Borrow up to $50,000 with an unsecured loan and $120,000 for a secured loan for your energy-efficient needs, such as electric and hybrid cars or solar panels.
Know the rate you’ll receive before submitting your application. Plus, you’ll get a personalised rate that reflects your financial situation on our unsecured loans.
Interest rates at the lower end of our range, for example 7.50% p.a. (comparison rate 8.54% p.a.), may be offered to low risk customers with an excellent credit history.
To qualify for the energy-efficient discount, you must use your personal loan to buy or install eligible products listed below. Solar panels, battery packs and inverters (if applicable) must be purchased from a New Energy Tech approved seller. The installer must be accredited with Solar Accreditation Australia.
Use our borrowing power calculator, and quickly and easily get a better understanding of:
Not sure if a personal loan is right for you? See other solutions for your next energy-efficient purchase
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.
Check out our range of resources to help you live sustainably.
Yes, the retailer must be a New Energy Tech approved seller and the installer must be accredited with Solar Accreditation Australia.
We take no responsibility for the quality and warranty of your eligible energy-efficient 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.
$120,000 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 energy-efficient discount, you’ll need to apply for a new Personal Loan. Loan increase and refinance applications aren’t eligible for the energy-efficient discount.
Yes, to help you decide which loan type might be most suitable, see our Loans for energy-efficient purchases guide.
No, you can’t use a Personal Loan for energy-efficient 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 energy-efficient 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 energy-efficient 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.
When trying to decide on the right product, consider:
For details, see our Loans for energy-efficient purchases 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.
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 an energy-efficient discount:
We’ll check the documentation you provide us and apply the energy-efficient 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.
~ Offer available for a limited time. Apply and fund an Unsecured Fixed Rate or Unsecured Variable Rate Personal Loan between 5 August 2024 and 10 October 2024 to save $250 on the establishment fee (comparison rate calculations are inclusive of this offer).
We reserve the right to close or vary this offer at any time.
Unsecured Fixed Rate Personal Loan interest rate ranges (with energy-efficient discount applied) are set out below. Comparison rates and examples are based on a $30,000 unsecured fixed rate loan over 5 years:
Unsecured Variable Rate Personal Loan interest rate ranges (with energy-efficient discount applied) are set out below. Comparison rates and examples are based on a $30,000 unsecured variable rate loan over 5 years:
^ 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 energy-efficient products’.
This guide doesn’t consider your individual objectives, financial situation or needs. Before basing any decisions on this information, please consider:
1 Additional repayments made on a fixed rate and secured personal loan are not available to be redrawn. An early repayment adjustment is charged if loan is fully repaid with 12 or more months remaining on loan term, and we reasonably estimate we will incur a loss or administrative cost. 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.
3 Interest rates at the lower end of our range, for example 7.50% p.a. (comparison rate 8.54% p.a.), may be offered to low risk customers with an excellent credit history.
An excellent credit history is determined by, among other things, paying your bills and making loan repayments on or ahead of time, being disciplined with your credit applications, and not overextending yourself financially.
Actions which can negatively impact your credit history include missing bill or loan repayments, defaulting on your credit facility, or making a large number of credit applications in a short period of time. You can find out more about how your credit score is calculated and tips for improving your credit score at our Credit Score Information Hub.
To find out more details about the award CommBank has received from Canstar, please go to https://www.canstar.com.au.
The Commonwealth Bank is not authorised and does not make any assertions about reduced consumption from non-renewable energy sources through energy-efficient 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 28 August 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.
