BNZ are now offering a similar deal to ANZ, 1 where you can borrow up to $80,000 for green initiatives like solar panels, heating or an EV. Rate is fixed at 1% for 3 years. Requires you to have a home loan with BNZ.
You can apply for a BNZ Green Home Loan top-up for eligible upgrades, such as home insulation, ventilation, and heating - or upgrading to an electric or hybrid vehicle. If you’re moving your home loan to us, you can apply for a BNZ home loan and the BNZ Green Home Loan top-up together.
The special pricing of 1% p.a. will only apply to the top-up for the initial 3-year fixed term period. After this time, the loan can be re-fixed, or our floating home loan rate will apply.
You can apply to take out multiple BNZ Green Home Loan top-ups for further eligible upgrades, however, the amount you can borrow at the 1% p.a. rate will be capped at $80,000.
Upgrade your home
You could make your home warmer and more energy-efficient with these eligible upgrades.
Solar panels, batteries, and inverters (including related costs for planning and installation).
Heating and insulation
- Heat pumps - fixed or ducted heat pump systems.
- Water heating - heat pump water heaters or solar water heaters.
- Insulation - ceiling, wall, or underfloor insulation.
- Window glazing - double, secondary or triple glazing.
- Ventilation - positive or balanced pressure ventilation systems
- Rainwater tanks - home water tanks (including related parts like pumps, connections, and filters).
- Upgrade your transport options
- You could reduce your carbon emissions with these eligible upgrades.
Electric or hybrid vehicles
New or used electric or plug-in hybrid vehicles. (You could also qualify for the government’s Clean Car Discount rebate to contribute towards your purchase.)
Portable or wall mounted electric vehicle chargers.
New or used electric bikes.
What you’ll need for your application
We’ll need to see proof that the loan will cover the cost of the upgrade (including the deposit, if applicable) as part of your application. Before we can approve the loan, we’ll need to be satisfied with the proof in all respects. Any quote must still be valid at the time it’s provided to us.
- For solar panels and solar batteries: a quote provided by a member of the Sustainable Energy Association of New Zealand (SEANZ), and an installation date.
- For hybrid and electric vehicles: a purchase agreement from a registered motor vehicle trader.
- For e-bikes: a quote provided by a business that offers e-bikes as a normal part of their business.
- For all other upgrades: a quote for both the supply and installation from a qualified business that supplies and installs the solution as a normal part of their business, and an installation date.
- Subject to lending criteria (including minimum equity requirements), terms and fees. An establishment fee of up to $150 for new customers may apply. For existing customers, a top-up fee of $100 may apply. Fees may be different for non-personal lending. Residential Owner Occupied and Residential Investor Rate applies.
- Minimum top-up amount of $5,000. Must be a BNZ Classic Home Loan. Not for business purposes, refinancing, or restructuring existing lending. Not eligible for any cashback. This rate may not apply to some packaged offers. Early repayment charges may apply. Offer, interest rate, and fees subject to change.
- BNZ is not responsible for the quality of any eligible upgrade.
- After the initial 3-year fixed rate term, the loan can be refixed, or BNZ’s home loan floating interest rate will apply.
- Residential Owner Occupied and Residential Investor Rate applies.
- Offer, interest rates and fees subject to change.
- References to third party websites are provided for your convenience only. BNZ accepts no responsibility for the availability or content of such websites.
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