Green Home Loans
As the push towards sustainability gains momentum, New Zealanders are increasingly looking for ways to make their homes more energy-efficient and environmentally friendly.
Green home loans offer a practical solution, providing homeowners with low or no-interest loans to fund sustainable upgrades. These loans not only make it easier to reduce your environmental footprint but also enhance your home’s value and lower energy bills.
The information provided about bank loan products is accurate as of the publication date but is subject to change without notice. This information is for general guidance only and does not constitute an offer, recommendation, or solicitation for any specific product. Users should conduct their own research and seek independent financial advice before making any decisions. Interest rates, terms, and conditions may vary. All trademarks and product names mentioned belong to their respective financial institutions. For the most current and accurate information, please contact the relevant bank directly.
ANZ Good Energy Home Loan Top-Up
ANZ offers the Good Energy home loan top-up, designed to help customers make their homes more energy-efficient or purchase eco-friendly vehicles.
Key features include:
Loan amount: Up to $80,000
Interest rate: A low 1% p.a. fixed for 3 years
Eligible improvements: Solar panels and batteries, heat pumps, insulation, double glazing, ventilation systems, rainwater tanks, electric or plug-in hybrid vehicles (including e-bikes), and EV chargers
Loan structure: Available as a top-up to existing ANZ home loans or for customers switching their home loans to ANZ
Term flexibility: After the initial 3-year fixed term, customers can choose to refix or move to ANZ's standard fixed or floating rates
To be eligible, applicants must have at least 20% equity in their home and meet ANZ's criteria for eligible purchases. This initiative aims to make sustainable home improvements and eco-friendly vehicle purchases more affordable for New Zealand homeowners. The loan comes with no establishment fee, but there is a fee for early repayment. The combination of a low interest rate and substantial borrowing limit makes it an attractive option for those looking to invest in energy-efficient upgrades or electric vehicles.
BNZ Green Home Loan Top-Up
BNZ offers a Green Home Loan Top-Up designed to help customers invest in sustainable and energy-efficient home improvements.
Key features include:
Loan amount: Up to $80,000
Interest rate: A highly competitive 1% p.a. fixed for 3 years
Eligible improvements: Solar panel installations, electric vehicles (EVs), energy-efficient heating and cooling systems, and other energy efficiency upgrades
Loan structure: Available as a top-up to existing BNZ home loans or for customers switching their home loans to BNZ
Term flexibility: After the initial 3-year fixed term, customers can choose to refix or move to a floating rate
This initiative aims to make sustainable home improvements more affordable for New Zealand homeowners, supporting the country's transition to cleaner energy and reduced carbon emissions. To be eligible, applicants must have or transfer their home loan to BNZ. The low interest rate and substantial borrowing limit make it an attractive option for those looking to invest in eco-friendly home upgrades.
Westpac Sustainable Upgrades Home Loan:
Westpac offers a Sustainable Upgrades home loan designed to help customers make their properties more energy-efficient and climate-resilient. This loan provides a competitive variable interest rate of 4.49% p.a. (4.87% p.a. comparison rate) for loans between $4,000 and $50,000, with a maximum term of 10 years.
Key features include:
No loan establishment or monthly account fees
Available for both owner-occupied and investment properties
Can be used for various upgrades, including solar panels, batteries, insulation, double-glazed windows, and climate-resilient improvements
Flexible repayments with unlimited extra repayments allowed
Backed by the Clean Energy Finance Corporation (CEFC) through their Household Energy Upgrades Fund
To be eligible, applicants must have or be approved for a Westpac home or investment loan of at least $150,000, and the property being upgraded must secure the loan. The loan is limited to one per property, and lenders mortgage insurance must not be applicable at the time of application. This initiative aims to make sustainable home improvements more accessible and affordable for Australian homeowners while supporting the country's transition to net-zero emissions.
Kiwibank Sustainable Energy Loan
Kiwibank’s Sustainable Energy Loan is designed to support customers in making eco-friendly upgrades to their homes. By topping up an existing home loan by $5,000 or more, borrowers can receive up to $2,000 in contributions over four years towards the cost of eligible renewable energy systems, such as solar, wind, small-scale hydro, and geothermal projects.
The contribution consists of $800 after the first year and $400 at the end of each of the following three years. This loan is available at a variable interest rate, with a minimum term of seven years and a maximum of ten years. Existing Kiwibank home loan customers benefit from waived top-up fees, making it easier to invest in sustainable energy solutions. To qualify, the systems must be commercially available, come with a minimum 10-year manufacturer’s warranty, and be installed by a member of the Sustainable Electricity Association of New Zealand (SEANZ).
ASB Better Homes Top-Up
ASB offers the Better Homes Top-Up, a low-interest loan designed to help customers make their homes more energy-efficient and sustainable. With this loan, existing ASB home loan customers can borrow up to $80,000 at a competitive 1% p.a. fixed interest rate for three years.
The loan can be used for various eco-friendly improvements, including:
Solar power systems (panels, batteries, and inverters)
Electric or hybrid vehicle purchases
EV charger installations
Home insulation upgrades
Energy-efficient heating and cooling systems
Moisture reduction solutions
This initiative aims to make sustainable home improvements more affordable, promoting both environmental benefits and improved living conditions for New Zealand families. To be eligible, applicants must have at least 20% equity in their owner-occupied property or 40% for investment properties.
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