Community First Credit Union has cut rates on its green personal loan, which can be used to finance “environmentally friendly products.”
Community First Credit Union launched a new green personal loan at 3.99% pa (comparison rate 4.99% *), a rate “almost half” of the previous rate.
The green loan can be used to finance the borrowers’ green home facilities, for example a solar water heater system or solar panels.
According to Community First, the product offers the “flexibility” of additional refunds at no cost. Customers can also redraw and prepay their loan at no additional cost.
This green loan product is an unsecured personal loan for any amount of $ 1,000 or more, with a loan term of one to 10 years. Monthly fees of $ 10 apply.
Green loans can be used to purchase the following:
- Solar water heater and solar panels
- Exterior awnings
- Rainwater tanks
- Double glazing
- Gray water treatment systems
- Energy efficient appliances and appliances
- Electric motor vehicles
Community First chief John Tancevski said the credit union’s award-winning green loans enable Australians to “make a personal contribution to a healthier ecosystem.”
“By launching a new green loan with a rate of 3.99% per annum, we are not only leading the pack in this industry, but we are also providing affordable financing for households to achieve lasting success at home – a process which can generate valuable energy savings, ”Mr. Tancevski said.
Along with the new green loan, Community First launched a “home improvement loan” with the same interest rate – 3.99% pa (comparison rate 4.99% *).
Mr. Tanceveski stated that this new loan is “an economical choice for homeowners looking to make improvements to their occupied home or investment property. “
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