Handypay Green Loan
- Interest Rate (p.a.)
- 7.37%
- Comp. Rate (p.a.)
- 7.63%
- Min Loan Amount
- $2,001
Summary
Give your home an environmentally friendly upgrade with a Green Loan from Handypay. Borrow up to $75,000.
3 things to know about this loan:
- Can only be used for green upgrades, like solar panels, battery storage, and solar heating and cooling.
- Options for a long loan term of up to 10 years.
- No early repayment fees and no early termination fees.
Pros
-
High maximum loan amount of $75,000
-
Low starting interest rate of 5.79% p.a.
-
Flexible loan terms from 1 to 10 years
Cons
-
You must own or be purchasing a home to be eligible
Details
Product details
| Product Name | Handypay Green Loan |
| Interest Rate (p.a.) | 7.37% |
| Comp. Rate (p.a.) | 7.63% |
| Interest Rate Type | Fixed |
| Min Loan Amount | $2,001 |
| Max. Loan Amount | $75,000 |
| Loan Security | Unsecured |
How does the Handypay Green Loan work?
Handypay'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
- Rainwater tanks
- Energy-efficient renovations
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 Handypay, 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. Handypay says your loan can be conditionally approved in seconds.
- Pay the retailer directly. Handypay 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 Handypay Green Loan cost?
Here are the loan's fees and rates
| Cost | Amount |
|---|---|
| Interest rate | Fixed from 7.37% p.a. |
| Comparison rate | Fixed from 7.63% p.a. |
| Establishment fee | $250 |
| Ongoing fees | $6 |
| Exit fee | $0 |
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