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Eco Plus

Reduced variable rate
Comparison rate*
LVR ≤ 90% applies.
Effective 4 July 2024

Buying or building a green home comes with great rewards for you and the planet.

More reward for going greener

Are you buying or building a 7.5+ star rated home with solar panels? Consider our Eco^ Plus Clean Energy Home Loan option, where approved customers get a reduced interest rate.

^The Federal Government-backed Clean Energy Finance Corporation is supporting the Eco Plus by funding 0.18% of the reduced interest rate and the remaining proportion of the reduction at the time is funded by Bank Australia.

Our Eco Plus rates

Finder Green Awards 2023
Green Bank of the Year
See all reviews
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Reduced variable rate
LVR ≤ 90% or Home Guarantee
Scheme Loan
Effective 4 July 2024
Comparison rate*
Based on a loan of $150,000 for 25 years.
Fees and charges may apply
Comparison rate warning
View full rates table
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Why choose this loan?

  • Owner occupiers
  • Qualifying properties in Australia - check the criteria below

Is this product right for you? Find out more

Application criteria

Evidence required
NatHERS: A Nationwide House Energy Rating Scheme (NatHERS) certificate is usually produced at the design stage of a home, and it shows the home’s star rating out of 10. For apartments, the building usually gets an average NatHERS rating, and each apartment gets a rating – we look at the rating of the individual apartment

Solar: A solar photovoltaic (PV) system that produces electricity via solar panels on a home’s roof – the system will include extra equipment like an inverter to convert the electricity. To qualify, your system should be at least 3 kilowatts (kW) in size
A coloured NatHERS Certificate completed by a NatHERS accredited assessor that shows a rating of at least 7.5 stars

Construction loans: A NatHERS Certificate as above and a declaration from the home owner and builder about sticking to the building plans

An invoice for purchase and installation of the solar system at the property by a Clean Energy Council approved installer or retailer

Construction loans: Confirmation that the solar PV is included in the building contract
Green Star Homes certification: Green Star Homes certification is designed to the standard set by the Green Building Council of Australia and independently assessed against three key criteria:
·  Positive - Fully electric, airtight, efficient and powered by renewables
·  Healthy - Ventilated, comfortable, with products that are better for you
· Resilient - Water efficient and climate change ready
At construction start: a Green Star Designed certificate for your builder and property type, plus your building contract showing you have agreed to build that type of home.

At completion: your Green Star Certified certificate for your home

Signature features

"We are proud to be with Bank Australia knowing it’s an ethical choice that supports a healthy environment."
Marnee and Diego from NSW
The Eco Plus has all the features you’d expect in a regular home loan, plus extra rewards for living green.

Standard features

As well as paying less interest, you could tap into all these other features.

100% offset

Link your loan to your everyday account to reduce the amount of interest you pay. It’s our 100% offset with no monthly account keeping fees. Cap of $20,000 applies to fixed rate loans.

Pay extra and redraw

You can make extra repayments on variable rate loans and access the cash when you need it at no cost with our redraw. Redraw is not available on fixed rate loans, or if you’re making Interest-Only repayments.

Repayment choices

Make P&I (Principal and Interest) repayments weekly, fortnightly or monthly. And make extra repayments anytime, with no early repayment penalty. Caps apply to fixed rates.

Construction progress payments

With our construction feature you can draw down on the loan as the build progresses and make Interest-Only repayments for up to 12 months. You pay no progress inspection fees.

No annual credit card fee

We waive the annual fee on our Platinum Rewards Visa Credit Card.

Fixed rate lock

With our rate lock you can apply for a fixed interest rate on your home loan and lock in the rate while your home loan settles. Learn about rate lock and whether it’s right for you.

Other perks

More ways you’re rewarded include everyday banking and an up to 10% discount on insurance for eligible customers.

Above: Reece, General Manager of The Sociable Weaver and Bank Australia customer

Customer story

Reece is building sustainable homes

"It’s quite amazing to see the amount of carbon that’s reduced by building a 7.5+ or 8.5+ star home.”

Read more

Fees and charges

Here’s what to expect with our Eco Plus Clean Energy Home Loan. Be sure to factor in related costs like stamp duty, legal fees, building reports, and insurance.
Fee and description
Establishment fee
Annual package fee
Monthly fee
Redraw fee
1st valuation fee
Construction progress inspection
Credit card annual fee
Up to 10% off
Mortgage discharge fee
$350 + government fees

See insurance fine print for discount conditions.

The Federal Government-backed Clean Energy Finance Corporation is supporting the Eco Plus by funding 0.18% of the reduced interest rate and the remaining proportion of the reduction at the time is funded by Bank Australia.

Banking done differently

We’re 100% customer-owned, which means you have voting rights. We don’t pay our execs bonuses, which means more funds are used to support people and the planet. And we’ll never use your money (or anyone’s, for that matter) to fund harmful industries like fossil fuels, live animal exports or nuclear weapons.

Why us

Things you need to know

  • Any information and advice does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you and seek any third party advice you need.
  • Before deciding to apply, we provide and recommend you read our Financial Services Guide.
  • All applications are subject to a credit assessment and approval. Terms and conditions apply. All applicable terms and conditions will be included in our loan offer.
  • Additional fees and charges may be payable – all relevant details will be included in our loan offer.
  • Information and interest rates are current as at the date of publication and are subject to change at any time, at the discretion of Bank Australia Limited.
  • This document does not constitute a contract for finance.
  • *Comparison Rate: The Comparison Rate is based on a loan of $150,000 for 25 years. Fees and charges may be applicable.
    IMPORTANT: The Comparison Rate applies only to the example given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees, early repayment fees, and cost savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan.
  • Terms and conditions, fees and charges apply. Loans subject to normal lending criteria and approval.
  • Rates apply to new applications received as per effective date set out above however are subject to change at anytime.


  1. The Eco Plus reduced interest rate is available for a limited period, and is partly funded by the Clean Energy Finance Corporation.
  2. The Clean Energy Home Loan Package variable interest rate is for Owner Occupiers making Principal and Interest repayments with a Loan to Value (LVR) ratio of less than or equal to 90%.
  3. When you qualify for a Bank Australia Clean Energy Home Loan you receive a reduced interest rate at the time that is only applicable to the Clean Energy Home Loan Package and not applicable to other Bank Australia home loan products.
  4. For variable rate loans, a reduced variable rate applies for 60 months from the date the loan is settled. For fixed rate loans, the reduced rate applies for the length of the 3 year fixed rate period. In either case, the rate payable on the loan will then revert to the lowest advertised Premium Home Loan Package rate at that time.
  5. Minimum new borrowings of $10,000 for an Owner Occupied Home Loan.
  6. Available to new borrowers who submit their loan application as per effective date set out above;
  7. For construction loans, Bank Australia protects an equivalent amount of land on the Bank Australia Conservation Reserve as is being constructed to help offset the environmental impact of land clearing. Homes constructed on large lots of land such as hobby farms will be offset according to the amount of land occupied by the dwelling.
  8. The Annual package fee of $350 is payable in advance and is non-refundable. The fee is debited to the loan balance on funding, and then annually on the anniversary date of funding. Package benefits cease to apply once the loan is repaid in full. Other fees and charges may be payable. Refer to the Lending and Credit Card fees, charges and transaction limits available from or by calling 132 888 for more details.
  9. Repayment Pause. Loans must be established for a full 12 months and a maximum Loan to Value Ratio of 90% (Family-Pause) or 90% (Eco-Pause) applies. Pausing repayments will result in interest continuing to accrue on the loan, potentially increasing the term of your loan. Full conditions available from Bank Australia.
  10. Redraw is not available during the interest only period of the loan and the amount available for redraw is governed by the terms set out in your Loan Offer.
  11. Fixed Rate Loans. If a Fixed Rate is selected, then that rate may vary from the date of application anytime up until the date of funding, unless a rate lock agreement applies. Redraw is not available on fixed rate loans. Additional repayments are capped at $30,000 for the term of the fixed rate loan, and cannot be redrawn. Repayments in excess of the cap may be subject to a Break Fee. A limit of one mortgage offset account applies to Fixed Rate Loans. Mortgage Offset is capped at $20,000 and one account can be linked to one Fixed Rate Loan only.
  12. Insurance. This insurance is issued by Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL234708. Bank Australia ABN 21 087 651 607 AFS Licence No. 238431321 acts as an agent of Allianz and not as your agent. Before making a decision about this insurance, please refer to the relevant Product Disclosure Statement available on 132888 or visit Up to 10% discount applies to Building, Contents and Comprehensive Motor Insurance, and/or standalone building insurance, when you sign up for this home loan package. Minimum premiums apply. Any discounts/entitlements only apply to the extent that any minimum premium is not reached. If you are eligible for more than one, we also apply each of them in a predetermined order to the premium (excluding applicable taxes and government charges) as reduced by any prior applied discounts / entitlements. Discounts may not be applied to the premium for optional covers.