Handy Finance Green Loan
- Interest Rate (p.a.)
- 6.57% to 18.99%
- Comparison rate (p.a.)
- 7.51% to 21.78%
- Min Loan Amount
- $2,001
Summary
Fund your eco-friendly home upgrades with a competitive loan featuring an interest rate in the top 25% of our database.The Handy Finance Green Loan scores a high 8.4 in our database. It's a competitive option, with its minimum interest rate sitting in the top 25% of personal loans we track. It also has an application fee that is lower than many of its peers.
The absence of ongoing monthly fees further enhances its cost-effectiveness for borrowers looking to fund eligible environmentally friendly home improvements.
Pros
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High maximum loan amount of $75,000
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Low starting interest rate of 6.57% p.a.
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Flexible loan terms from 1 to 10 years
Cons
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You must own or be purchasing a home to be eligible
Details
Product details
| Product Name | Handy Finance Green Loan |
| Interest Rate (p.a.) | 6.57% to 18.99% |
| Comparison rate (p.a.) | 7.51% to 21.78% |
| Interest Rate Type | Fixed |
| Min Loan Amount | $2,001 |
| Max. Loan Amount | $75,000 |
| Loan Security | Unsecured |
How does Handy Finance Green Loan compare?
- Competitive interest rate. The minimum interest rate of 6.57% is in the top 25% of lower rates in our database.
- Lower than average application fee. Its $250 application fee is in the top half of lower fees.
How does the Handy Finance Green Loan work?
Handy Finance's Green Loan is available for home renovations that will make your home more environmentally friendly. This could include purchasing and installing:
- Solar panels
- Battery storage
- Inverters
- Solar heating and cooling
The loan works on a buy now pay later model, although there are interest charges. You need to know what specific green home improvement you're purchasing and then apply for the funds and get conditional approval up to a certain limit. Then you pay interest on what you spend.
How to apply
If you'd like to apply for finance with Handy Finance, you can click "Go to site" and submit a fast online application. To do so, you must be:
- Aged 18 or over
- A permanent Australian resident
- Employed, self-employed, a self-funded retiree or receiving the government Age Pension
- Owning or buying a home
- Earning at least $25,000 annually (after tax)
You will also be required to submit 90 days' worth of bank statements electronically.
While this is a competitive loan product, it's still a good idea to compare green loans for home improvements prior to submitting an application to ensure that you are getting the best deal for your circumstances.
Features of this loan
- Loan amounts. You can borrow between $2,001 and $75,000.
- Fast approval. Handy Finance says your loan can be conditionally approved in seconds.
- Pay the retailer directly. Handy Finance makes your green home purchases for you by paying the retailer directly.
- Fixed rate. This loan has a fixed rate, so your rate will not change over the life of the loan.
- Quick application. Applications only take a few minutes to complete.
- Single loan purpose. This loan is available for green home improvements only.
- Flexible terms. Repay your loan over 1 year to 10 years, or up to 10 years with certain renovation purchases.
- 100% online. Apply for and manage your loan 100% online.
- Flexible repayments. You can choose between weekly, fortnightly or monthly repayments.
- Penalty-free repayments. If you choose to, you are able to make additional repayments or repay your loan early, penalty-free.
How much does the Handy Finance Green Loan cost?
Here are the loan's fees and rates
| Cost | Amount |
|---|---|
| Interest rate | Fixed from 6.57% p.a. |
| Comparison rate | Fixed from 7.51% p.a. |
| Establishment fee | $250 |
| Ongoing fees | $0 |
| Exit fee | $0 |
Sources
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