Bendigo Bank celebrates 20 years of Green Loans with discounts
Bendigo Bank is proud to announce deeper discounts on Green Loans as the Bank celebrates 20 years of supporting environmentally friendly purchases.
Bendigo Bank was the first Australian bank to reward customers who purchased goods that were energy efficient or used renewable energy sources with a lower interest rate, launching the loans in 2002.
As more Australians consider ways they can reduce their own carbon footprint, Bendigo is announcing even sharper pricing on Green Loans with discounts of up to 480 basis points on top of the existing 100 basis point discount.
Bendigo and Adelaide Bank Managing Director and CEO Marnie Baker said the bank was committed to demonstrating the importance of sustainability at the bank, which extended to recognising when customers made choices that would support a sustainable future for all.
“Initiatives like our Green Loans, first offered in 2002, and the completion of our energy efficient regional headquarters in 2008 are closely aligned with our longstanding purpose of feeding into the prosperity of the community, not off it.”
“We can’t have prosperous communities unless we consider the impact of decisions made today on future generations. While programs such as these are small steps in the overall context of the challenges we face, we look forward to rewarding customers who share our values.”
Under the new pricing arrangement, the interest rate for a secured Green Loans suitable for buying a second-hand electric vehicle will be reduced by 180 basis points to 4.99 per cent.
The interest rate for unsecured green loans suitable for buying solar panels, solar batteries, electric vehicle charging stations, solar hot water, energy efficient white goods and more will be reduced by 480 basis points to 6.99 per cent.
Bendigo Bank’s Green Loans had previously been priced at a discount of 100 basis points to the standard loans with the new pricing aimed at raising customer awareness.
Discounts on green loans are just the latest in a series of measures launched by the Bank to support our customers and communities to mitigate, adapt and respond to climate change.
The Bank is also focussing on reducing our own carbon and environmental footprint having attained carbon neutral status and moving towards 100 percent renewable energy for our operations by 2025.