Gateway Bank offers $2,000 cashback for Green Home Loan customers

Aerial shot of Australian homes.

In response to growing environmental concerns and increased awareness of the role banks can play in mitigating them, Gateway Bank has announced it will be offering $2,000 cashback to successful green home loan applicants.

The offer is available to customers looking to build an energy efficient home or upgrade their existing home to make it more environmentally friendly. Refinancers are also eligible, so long as they are not existing Gateway Bank customers.

To qualify, the property must have a minimum 7.0 Star rating from the Nationwide House Energy Rating Scheme (NatHERS) or receive a favourable assessment under the NatHERS-endorsed Residential Efficiency Scorecard.

Applications must be made between 20 September and 31 December 2021 and settled by 31 March 2022.

Gateway Bank chief executive, Lexi Airey said the move is one of several ways Gateway Bank hopes to reward customers who conduct their banking with an eye towards the environment.

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“There’s a fast-growing market segment who want to reduce their home’s impact on the environment, and are borrowing to add energy efficient features, or to buy a new home with those built in,” she said.

“Because we strongly believe that consumers shouldn’t have to pay a premium to do the right thing for the environment, we’ve introduced this cashback offer as part of Gateway Bank’s ‘Pocket & Planet’ purpose.”

Along with the cashback offer, customers will also benefit from rates as low as 2.34% p.a. (2.68% p.a. comparison rate*) on the Green Plus Home Loan and 2.44% p.a. (2.78% p.a. comparison rate*) on the Green Home Loan.

Both come with a 100% offset account (with linked Visa Eco Debit Card) and allow customers to make unlimited extra repayments without incurring penalty. A redraw facility is also available in case customers wish to retrieve those extra funds.

For more information on lending trends, head over to our home loan statistics page. And if you’re in the market for a home loan, visit our home loan comparison page, or browse the selection below.

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* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate, loan amount and term entered. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

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