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Eco-pause
A home loan feature that helps you help the planet

At Bank Australia we believe we have a responsibility to create positive social and environmental change, and part of this responsibility is to ensure our products enable our customers to be a part of creating this change. 

Our customers have told us that taking action on climate change and promoting a transition to renewable energy is important to them. 

That’s why we have a special feature on our home loans called an Eco-Pause. A feature that helps our customers make their homes more sustainable. 

Our Eco-Pause lets customers take a break from their mortgage repayments* and redirect their money to eco upgrades such as solar panels, batteries and water tanks. 

How long can you pause your repayments for? 

Good question. With an eco-pause you can pause your repayments* for three months or halve them for six. 

Are there any eligibility criteria? 

There are some key criteria you’ll need to meet to be eligible for the pause, but don’t stress it’s nothing major. You can check out the full terms and conditions below.   

  • You need to be an owner-occupier
  • You’ll need to show us what the funds will be directed to (i.e. what upgrades)
  • Your loan has to have been established with Bank Australia for at least 12 months

 We believe that everyone should be able to create a life that reflects their values, and our eco pause is one way of enabling this at individual level. But the buck doesn’t stop there. If you have a Bank Australia home loan, you are also helping create positive change on a global scale. We will never lend to harmful industries such as fossil fuels which means your home loan will never be supporting these investments.   

*While repayments are paused interest will still need be paid

Terms and conditions

Customers may apply for a 3-month break in repayments, or a 6 month reduction (up to half) of their repayments on their loan, subject to the following conditions:

  • Only loans for owner-occupiers are eligible
  • A request must be provided detailing funds will be re-directed for the purpose of installing water and/or energy saving devices
  • The loan must be established with Bank Australia for at least 12 months before applying for payment reductions
  • Accounts must be operated within Bank Australia terms and conditions prior to the request, and loans must not be in arrears or have had any repayments missed within the six months prior to the request
  • Excludes Bridging loans, Interest Only loans and Home Equity loans
  • Subsequent payment reductions can be made no sooner than 12 months from completion of any previous repayment reduction period
  • A maximum of 2 repayment pause breaks are permitted for loans that are subject to Lenders Mortgage Insurance (LMI)
  • Loans that exceed a loan to value ratio (LVR) or 90% are not automatically eligible
  • Loan repayments may need to be recalculated at the conclusion of the break to ensure the loan term does not exceed the maximum permitted by Bank Australia or the LMI insurer