You can now use your NAB Rewards to buy solar power

Sally McMullen 28 November 2017 NEWS

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NAB is encouraging customers to go solar with a new rewards partnership.

NAB and Origin have partnered to offer an interesting rewards alternative this week. From today, homeowners can put their NAB Rewards towards the purchase and installation of residential solar panels.

Under this pilot offer, customers can redeem 48,080 points from their NAB Rewards card to receive a $250 Origin e-voucher to cover the cost of installing solar electricity in their home. This is about the same value you’d get if you were to redeem that many points for $250 Coles or JB Hi-Fi vouchers from the NAB Rewards store. Plus, customers will receive an additional $500 discount from Origin.

There are a few NAB Rewards credit cards that offer enough points to cover a $250 Origin voucher. If you spend $2,500 on everyday purchases in the first 60 days, you could score 60,000 bonus NAB Rewards points with the NAB Rewards Platinum card. Meanwhile, the NAB Rewards Signature card currently offers 100,000 NAB Rewards when you apply by 25 February 2018 and spend at least $3,000 on eligible purchases in the first 60 days.

You’ll also score 350,000 NAB Rewards points if you take out an eligible NAB Home Loan and Banking Bundle by 31 December 2017. If you redeem these for the NAB renewable energy offer, you can get $2,250 in value to go towards a solar system for your home.

NAB’s executive general manager of consumer lending Angus Gilfillan said the initiative addresses a growing interest among homeowners for energy alternatives.

“This offer not only helps to reduce the cost of installing solar panels, but also has flow-on savings for a customer’s energy bills and the environment,” Mr Gilfillan said.

The option to redeem points for Origin solar packages is just one of the many ways NAB Rewards cardholders can use their points. Other more traditional rewards options include travel, frequent flyer points and gift cards.

While a solar power package isn’t everyone’s dream reward, it’s another option for cardholders who want to use their NAB Rewards to cut back on everyday costs. As always, make sure you compare the available rewards to ensure you’re getting the most value out of your points before you redeem them. But if you were already considering getting solar power, this could be one way to reward yourself for making the switch.

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