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