CBA extends Green Loan to all Australians

by Mike Wood26 Jul 2021

CBA has taken its Green Loan product national, extending availability to as many as 600,000 people around Australia.

The loan had first been launched in February of this year, and will now be taken further than ever before.

The Green Loan product is based on funding from CBA that contributes directly to renewable energy, and can be used to make homes more environmentally friendly.

Existing CBA home loan customers can use the 10-year loan to install solar panels, solar hot water and electric vehicle charging stations.

“With over 11 million retail customers and more than 25 per cent of the home loan market with the CBA Group, we have a responsibility to provide solutions for customers that reduce their environmental impact and the Green Loan is an important step towards helping our customers and communities move to cheaper, clean energy technologies,” said CBA Group Executive Angus Sullivan.

“The Green Loan is our first customer-facing product and I’m excited because we have been doing a lot of work in this space and have some exciting announcements coming.”

“In May, we announced a partnership with Amber, a new type of energy retailer, giving customers direct access to the real-time energy price for a monthly subscription fee and all energy is carbon neutral.”

“This partnership, alongside our Green Loan, will provide more value for our home loan customers by empowering them to access clean energy products and save more on their energy.”