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The Clean Energy Personal Loan is available to new and existing customers at a variable interest rate of 7.49 per cent, with no establishment or ongoing fees.
Eligible upgrades include installing induction cooktops and electric hot water systems, alongside solar panels and home batteries.
The loan allows customers to finance the improvements independently of their home loan, with potential energy savings dependent on the property, upgrades completed and household energy use.
Bank Australia chief marketing officer Kevin Ramsdale said the product was designed to help customers make sustainable home improvements.
“As a customer-owned bank, we know that climate change is a top concern for our customers and that they are actively looking to make choices that are more sustainable,” Ramsdale said.
“However, making sustainable upgrades at home isn’t always easy. That’s why the Clean Energy Personal Loan is a great product designed to help everyday Australians make sustainable upgrades to their homes no matter how far along the home electrification and energy efficiency journey they might be.”
Bank Australia expands green lending
The launch adds to Bank Australia’s existing green lending offering, which includes its recently relaunched Clean Energy Home Loan for eligible energy-efficient, all-electric homes and an electric vehicle loan with low interest rates and no fees.
The bank said home lending accounted for more than 90 per cent of its reported emissions in 2026. It has set a target to reduce gross emissions from its residential mortgage portfolio by 70 per cent by 2035, against a 2026 baseline.
Recent data from National Australia Bank (NAB) showed demand for green equipment finance increased by 32 per cent over the six months to June, while uptake in March 2026 was more than double the level recorded a year earlier.
Electric vehicles now account for half of the assets financed through NAB’s green finance program, with the major bank attributing demand partly to businesses seeking to reduce their exposure to fuel price volatility.
NAB and the government-backed Clean Energy Finance Corporation launched two discounted finance programs in March 2025, supported by $300 million in CEFC funding.
During the first year of the partnership, more than $130 million in discounted finance was provided to over 550 Australian businesses.
The funding has supported investment in batteries, renewable energy systems, electric equipment, and agricultural technology across sectors, including manufacturing, transport and agriculture.
Similarly, market share for electric vehicles has tripled over the past year, as overall car sales hit a record high.
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