Green Home Loan Top-Ups

Nearly every bank in New Zealand offers some form of green financing through a home loan ‘top-up,’ essentially an additional loan added to your mortgage. These top-ups are designed for home improvements and sustainable initiatives, such as installing solar panels, buying insulation, or upgrading heating systems.

In New Zealand, almost every bank provides green financing options through a home loan ‘top-up.’ This extra loan, integrated into your mortgage, is specifically crafted for home enhancements and sustainable projects like installing solar panels, purchasing insulation, or upgrading heating systems. Delve into these choices to transform your home into an eco-friendly and energy-efficient haven.

Here’s a summary of green finance options from major New Zealand banks:

1. Westpac
   • Interest Rate: 0% p.a.
   • Max Amount: $50,000
   • Duration: Up to five years
   • Other Conditions: No establishment fee, early repayment allowed without costs. Available to new or current Westpac customers.
2. ANZ
   • Interest Rate: 1% p.a.
   • Max Amount: $80,000
   • Duration: Up to three years
   • Other Conditions: Not available for business purposes or new builds. Minimum $3,000 loan amount.
3. BNZ
   • Interest Rate: 1% p.a.
   • Max Amount: $80,000
   • Duration: Up to three years
   • Other Conditions: Can be used for renewable energy, heating/insulation, water tanks, or transportation options.
4. ASB
   • Interest Rate: 1% p.a.
   • Max Amount: $80,000
   • Duration: Up to three years
   • Other Conditions: Minimum 20% equity required.
5. Kiwibank
   • Interest Rate: Variable rate home loan (currently over 8% p.a.)
   • Max Amount: Varies
   • Duration: Between 7 and 10 years
   • Other Conditions: No specific maximum amount. Kiwibank contributes up to $2,000 over four years for loans over $5,000.

For more details, visit each bank’s respective page: Westpac’s Greater Choices, ANZ’s Good Energy, BNZ’s Green Loan, ASB Better Homes Top Up, and Kiwibank’s Sustainable Energy Loan.