Clean Energy Personal Loan

General advice

This information is of a general nature only and does not take into account your objectives, financial situation or needs. Consider whether the product is appropriate for you before making a decision. Normal lending criteria, terms and conditions, fees and charges apply. All applications are subject to credit assessment and approval.

Clean Energy Personal Loan Terms & Conditions

* The Comparison Rate is based on a unsecured loan of $10,000 for 3 years. Fees and charges may be applicable.

WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate

Variable interest rates apply to personal loans and are subject to change at any time, at the discretion of Bank Australia Limited.

Loan Terms. Maximum term of 10 years and minimum amount of $1,000 apply to Personal Loans. Full terms, conditions, fees and charges are available on request.

#The environmental benefits of eligible upgrades will vary. Actual energy savings and emissions reductions, if any, depend on your individual circumstances and the upgrades installed.

^The Clean Energy Personal Loan has a lower variable interest rate than our Lifestyle Personal Loan.

1. Eligibility

‍To be eligible for a Clean Energy Personal Loan, the loan funds must be used solely for one or more eligible upgrades listed. 

When applying for a Clean Energy Personal Loan, you must provide itemised quotations for the proposed eligible upgrade(s). 

We will assess the quotations against the eligibility requirements set out in the eligible upgrades table and may approve those quotations (Approved Quotations). 

If you have Approved Quotations and satisfy our lending requirements, we may approve your application.

 2. Approved Works

‍You must complete the eligible upgrade(s) substantially in accordance with the Approved Quotations unless we approve a Material Variation.

A Material Variation is a material change to the goods, equipment, cost or scope specified in an Approved Quotation, or a change of supplier or installer which results in the completed works no longer satisfying the applicable eligibility requirements.

A change of supplier or installer is not, by itself, a Material Variation.

You must tell us about a proposed Material Variation before proceeding with the changed works. We may require a revised quotation and reassess whether the proposed works satisfy the applicable eligibility requirements.

Payment

‍Once an eligible upgrade is completed, you must provide:

• an itemised invoice for the completed works; and
• any other information we reasonably require.

We may verify that:

• the completed works substantially correspond with the Approved Quotations; and
• no unapproved Material Variation has occurred.

Subject to your loan contract, we will pay the approved amount to the relevant supplier or installer, or reimburse you where we have agreed to do so.

We may refuse payment where:

• the completed works do not substantially correspond with the Approved Quotations;
• an unapproved Material Variation has occurred;
• the completed works do not satisfy the applicable eligibility requirements in the eligible upgrades table; or
• you do not provide information we reasonably request.

We may pay the eligible portion of an invoice and refuse payment of any ineligible portion.

3. Time Limits

You must provide an invoice for an eligible upgrade within 90 days after the date your application is formally approved, unless we agree otherwise in writing.

If we do not receive an invoice within that period, we may refuse to make any payment in respect of the relevant eligible upgrade and may cancel any undisbursed loan funds allocated to that eligible upgrade.

4. Responsibility for the Works

You are responsible for selecting and engaging suppliers and installers and for ensuring they hold any licences, qualifications, accreditations and other authorisations required to perform the relevant work in your state or territory.

You should obtain any certificates, approvals or compliance documentation applicable to the completed works, including any electrical safety certificates required by law.

Our review of quotations, invoices or other documents is undertaken solely for lending purposes. It does not constitute approval, certification or endorsement of any supplier, installer or works.