Plenti Green Loans
- Interest Rate (p.a.)
- 9.49%
- Comp. Rate (p.a.)
- 10.60%
- Min Loan Amount
- $5,000
Summary
Borrow up to $45,000 with loan terms from 3 to 7 years. Interest rates are personalised based on your credit history.
Plenti is offering a green loan for customers looking to make environmentally-friendly or energy-efficient purchases. You can use the Plenti Green Loan to purchase energy-efficient lighting, solar water heaters, air source heat pumps or even low-emission cars and trucks. You can borrow from $5,000 up to $45,000, with terms between 3 to 7 years. Interest rates start from 9.49% p.a. and will vary based on the loan term, loan amount, your credit history and annual income. Borrowers with good to excellent credit histories will usually be rewarded with better rates. Monthly fee of $8.99 dollars.
Pros
-
Secured or unsecured
-
Competitive, tailored rate
-
A way to finance a range of green purposes
Cons
-
Restrictive loan terms
-
Can only make payments monthly
Details
Product details
| Product Name | Plenti Green Loan |
| Interest Rate (p.a.) | 9.49% |
| Comp. Rate (p.a.) | 10.60% |
| Interest Rate Type | Fixed |
| Min Loan Amount | $5,000 |
| Max. Loan Amount | $45,000 |
| Loan Security | Unsecured |
How does the Plenti Green Loan work?
Plenti is one of Australia's leading consumer lenders. This means that its loans are funded by individual or multiple investors, rather than a bank. Green loans from Plenti are unsecured and are available on terms from 3 to 7 years. You can apply for a minimum of $5,000 and a maximum of $45,000.
After completing a rate estimate, you may be instantly or conditionally approved. Successful borrowers of Plenti's green loan will receive a tailored interest rate based on their chosen loan term and loan amount, as well as their personal information, such as credit history and annual earnings. Borrowers with good to excellent credit histories will usually be rewarded with better rates. Loan amounts are paid directly to the selected vendor of the energy-efficient appliances/vehicles.
Purchases and installations that can be bought with Plenti's green loan include:
- Solar panels
- Home batteries
- Solar pool heating units
- Energy-efficient lighting
- Energy-efficient air-conditioning units
- Hybrid low emission cars
- Air source heat pumps
- Power factor correction
- Variable speed and frequency drives
How to apply
Applying for the Plenti green loan is easy; you can simply click "Go to site" to visit the lender's website directly and fill out an application form. You will need to meet the following eligibility criteria in order to qualify:- Be 21 or over
- Be an Australian citizen or permanent resident
- Have a regular income
- Have a good credit history
- Be purchasing a suitable product
It's also important to ensure you have your personal details ready, such as:
- Your annual income
- Details of your employer
- Your address
- Your chosen vendor
While Plenti's loans are competitive, it's still important to compare personal loans yourself prior to making a decision.
Features of this loan
There are many features of the green loan offered by Plenti, including:- Rate estimate. You can secure a rate estimate before you submit a full application, without affecting your credit score.
- Competitive rate. Plenti's green loans have lower interest rates than traditional personal loans or credit cards.
- Unsecured. This loan requires no asset security.
- Loan amount. Borrow from $5,000 to $45,000.
- Quick approval process. Loans are often approved within 48 hours, and subject to approval, you could have finance the next business day.
- Loan terms. The available loan terms are between 3 and 7 years.
- Energy-efficient loan uses. This loan can only be used for purchase of the above stipulated products and installations.
- Regular monthly repayments. Repayments for this loan are made monthly.
- Additional repayments penalty-free. There is no charge for making extra repayments on this loan, or repaying the loan early.
- Money is paid directly to the vendor. Once you've been approved for the loan, the funds will be directly transferred to the installer so your purchase will be more seamless.
- Internet banking. It's easy to keep up with your account as you can see and keep track of the balance and repayments online.
- Available to businesses. The green loan is also available to small businesses and self-employed individuals who want to go green.
- Quick process. Once you've received your rate estimate, the application process takes about five minutes. After filling out the application, you could be conditionally approved. However, if you're not conditionally approved immediately, you'll get a response within the next two business days.
- No early repayment fees. You won't get charged for making additional payments or paying off your loan early with this loan, which is a bonus for those who want to pay it off faster.
How much does the Plenti green loan cost?
Fees and charges involved with the Plenti green loan include:
- Interest rate. From 9.49% p.a.
- Comparison rate. From 10.60% p.a.
- Late repayment fee. If you're unable to make a payment on time, you may be charged a fee.
- Monthly fees. $8.99
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