RateSetter Green Loan

Finance your energy-efficient product purchases from $2,001 with a competitive Green Loan from RateSetter.

The Green Loan offered by RateSetter is an option for people who want to purchase environmentally-friendly or energy-efficient products.

You can use the Green Loan to purchase energy-efficient lighting, solar water heaters, air source heat pumps or even low-emission cars and trucks. Find out more about how the loan works in this review.

Product NameRateSetter Green Loan
Interest Rate (p.a.)From 3.7% (variable)
Comparison Rate (p.a.)10.01%
Interest Rate TypeVariable
Min Loan Amount$2,001
Max. Loan Amount$45,000


  • Secured or unsecured
  • Competitive, tailored rate
  • A way to finance a range of green purposes


  • Restrictive loan terms
  • Can only make payments monthly
  • No early repayment fees
  • Aged 21+
  • Be an Australian citizen or permanent resident.
  • Have a regular income
  • Have a good credit history
  • Be using the funds for a green purchase

Main points to consider about the Green Loan from RateSetter

The Green Loan from RateSetter comes as either secured or unsecured and these loans are available from0.50 year(s) and 7 year(s). You can apply for a minimum of $2,001 and a maximum of $45,000. Monthly fee ranges from $0-$20 depending on loan amount and loan term.

You will receive a tailored rate for your loan with good borrowers being matched with better rates. After completing a rate estimate you may be instantly, conditionally approved. The loan amount will then be paid out to the vendor you’ve selected to help make your home greener.

Features of the Green Loan

There are many features of the Green loan offered by RateSetter, including:

  • Loan terms. The available loan terms are between 0.50 year(s) and 7 year(s).
  • Regular monthly repayments. Repayments for this loan are made monthly but you can make additional payments at any time without penalty.
  • 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 to apply for the Green Loan

Applying for the Green loan is a breeze. All you need is to:

  • 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

If you’re approved, your green projects and renewable energy purchases can be made. However, it’s important to compare all personal loans before making a decision.

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