Brighte Green Loan
- Interest Rate (p.a.)
- 8.99%
- Comp. Rate (p.a.)
- 10.48%
- Min Loan Amount
- $1,000
Summary
Give your home a sustainable makeover with a loan up to $30,000. Interest rate charges and fees apply.
Brighte is a finance provider and zero-interest platform with a special focus on environmentally friendly loans. You can use this loan for green home improvements such as solar panels, roofing updates, plumbing, electrical or other energy-efficient switchovers. This loan has a minimum credit limit of $1,000 and a maximum limit of $55,000. This loan comes with a fixed rate of 8.99% p.a., and a comparison rate of 10.48% p.a. The terms range from 2 years to 15 years. There will also be an establishment fee of $199, and an account keeping fee of $2.70 per week or $10.80 per month.
Pros
-
No early repayments or payout fees
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Access a variety of local vendors
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Loan terms from 24 to 180 months
Cons
-
Establishment fee of $199
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Late payment fee of $4.99
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Weekly account keeping fee of $1
Details
Product details
| Product Name | Brighte Green Loan |
| Interest Rate (p.a.) | 8.99% |
| Comp. Rate (p.a.) | 10.48% |
| Interest Rate Type | Fixed |
| Min Loan Amount | $1,000 |
| Max. Loan Amount | $55,000 |
| Loan Security | Unsecured |
How does Brighte's Green loan work?
Brighte's Green Loan allows borrowers to avail finance over longer terms than Brighte's 0% interest payment plans. First, you need to ask your accredited Brighte vendor if it offers the Brighte Green Loan. Vendors that do offer the loan will refer you to Brighte. Once referred, Brighte will send you a link to complete the online loan application form and to provide supporting documentation for the credit assessment.If you're looking to do a greater overhaul on your home's energy efficiency, a Brighte Green Loan might work for you.
How to apply
To get started, you need to ask the accredited Brighte vendor of your choice if they provide the Brighte Green Loan. If you're eligible, vendors that offer the loan will refer you to Brighte. Once referred, Brighte will send you a link to complete the loan application form online and to provide supporting documentation for the credit assessment. In order to apply, you will need to meet the following eligibility criteria:- Be aged 18 or over
- Be a homeowner or in the process of purchasing a home
- Have valid ID (driver's license or passport)
- Be an Australian permanent resident or citizen
- Be employed, self-employed, a self-funded retiree or should be receiving the Government Age Pension
- Provide 2 most recent pay slips or 90 days of bank statements
On receiving your loan application and documents, Brighte will assess them as per its credit approval criteria and provide you with an outcome within 1 to 3 business days.
Features of this loan
Brighte offers a range of features on their loan, including the following:- Fixed rate. This loan includes a fixed rate of 8.99% p.a.
- Access to a variety of vendors. You have access to a variety of vendors. However, only a select number of vendors will offer the Green Loan, so make sure to check with the vendor directly.
- Easy application process. Brighte will send you the link to complete your online application. Once you provide all the necessary documents, you'll receive an outcome within 1 to 3 business days, along with your loan contract.
- Longer loan terms. Loan terms on the Brighte Green Loan vary from 2 to 15 years.
- Loan amount. Brighte loans range from $1,000 to $55,000.
- Repay early. You can make additional repayments at no extra cost via the BrightePay app or by phone.
How much does the Brighte Green Loan cost?
The following rates and fees are associated with this loan:- Interest rate. Fixed interest rate of 8.99% p.a.
- Comparison rate. From 10.48% p.a.
- Establishment fee. You'll need to pay an establishment fee of $199.
- Account keeping fee. You'll be charged a fee of $2.70 per week, which is included in your fortnightly repayments.
- Late payment fee. If you make a payment later than the due date, you may be charged $4.99.
For more information, contact Brighte directly either by phone, email or via their website. Prospective applicants for environmentally friendly loans can also find a range of similar products to compare, or they can find out more about Brighte's zero-interest finance option.
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Congratulations, Brighte!
Brighte received the following highly commended awards in the 2023 Innovation Awards:
- 'Social Impact Innovation'
- 'B2B Innovation'
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