South West Slopes Bank Greener Futures Loan
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- Interest Rate (p.a.)
- 8.35%
- Comparison rate (p.a.)
- 8.35%
- Min Loan Amount
- $2,000
Summary
Save money with no application or ongoing fees with this personal loan for green purchases.The SWS Bank Greener Futures Loan stands out for its lack of fees. You won't pay an application fee or any ongoing monthly fees which is a strong feature. This helps it achieve a Finder Score of 8.3.
However the loan's interest rate of 8.35% is on the more expensive side compared to other options. This could make it a costly choice depending on how much you borrow.
Details
Product details
| Product Name | SWS Bank Greener Futures Loan |
| Interest Rate (p.a.) | 8.35% |
| Comparison rate (p.a.) | 8.35% |
| Interest Rate Type | Variable |
| Min Loan Amount | $2,000 |
| Max. Loan Amount | $20,000 |
| Loan Security | Secured |
How does SWS Bank Greener Futures Loan compare?
- No application fee. This is a competitive feature that saves you money upfront.
- No ongoing monthly fees. You won't be charged any account-keeping fees for the life of the loan.
- Penalty-free extra repayments. You can make extra repayments to pay your loan off sooner without incurring a penalty.
- Higher interest rate. The interest rate of 8.35% is on the more expensive side when compared to other loans in our database.
How does the Greener Futures Loan work?
This is a no-fee green personal loan which you can use to purchase energy efficient or environmentally friendly products. The loan funds can be used for solar power products, external awnings or shutters, grey water systems, double glazing or energy efficient white goods with 70% star ratings. No application, account keeping or establishment fees are charged. The loan comes with a maximum term of 5 years.
What features does the Greener Futures Loan offer?
- Green personal loan. Suitable for green home improvement purchases.
- No fee loan. You won't be charged any fees – only interest.
- Varying loan term. The maximum loan term is 5 years.
- Flexible repayments. You can choose between weekly, fortnightly and monthly repayments.
- Additional repayments. You can make unlimited additional repayments at no charge.
- Redraw facility. You have access to the redraw facility, at no charge.
- Other facilities available. You'll have access to direct debits, Internet banking, alerts, over the counter deposits and online statements.
How much does the Greener Futures Loan cost?
With this loan, you will only be charged interest at 8.35% p.a.. The comparison rate is also 8.35% p.a.
Am I eligible for a Greener Futures Loan?
To be eligible for a Greener Futures Loan, you need to be:
- Over the age of 18
- Living in Australia
- An Australian citizen or permanent resident
As part of the process, you’ll have to submit details of your income and any debts you have.
How do I apply for a Greener Futures Loan?
You can apply for the loan online, through the South West Slopes Bank website. The lender will contact you the following business day. Have all the required documents at hand to speed up the process.
Sources
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Richard Finder
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