Westpac Green Loan

The Westpac Green Loan, also known as the Sustainable Upgrades Home Loan, offers an exceptional way for homeowners to invest in energy-efficient and climate-resilient upgrades. With a competitive variable interest rate, no monthly fees, and flexible repayment options, it’s designed to help you create a greener, more energy-efficient home while saving money. An added benefit - there's no loan establishment fee so more of your loan can go towards improving your home.

Compare the Westpac Green Loan

 

Westpac’s Sustainable Upgrades Home Loan has a variable interest rate of 4.49% and a comparison rate of 4.87%. It has a maximum loan amount of $50k and a maximum loan term of 10 years. 

The Westpac Green Loan does a great job of covering most common energy-efficient home upgrades, and as a bonus also allows for upgrades that can protect Aussie homes vulnerable to extreme weather events like floods and bushfires. However, if you're looking to purchase smart home upgrades or LED lighting, you may need to look a little further as these upgrades are currently excluded from the Sustainable Upgrades Home Loan eligibility list.

Compare the Westpac Sustainable Upgrades Home Loan with the Commbank Green Loan and ING Green Upgrade Loan below.

Don’t have a mortgage with these banks? If you’ve paid off your mortgage or your home loan is with another bank - Explore our Ultimate Green Loan Guide to discover the right finance solution for you.

Maximise Your Savings with 28Watt’s Free Home Assessment

 

At 28Watt, we specialise in making home electrification and energy upgrades simple. Our Free Home Assessment ensures you prioritise the right upgrades and make the most of the Westpac Green Loan. Here’s how we help:

  • Identify the most impactful upgrades for your home, like solar panels, insulation, and heat pumps.

  • Provide clear cost estimates and energy savings potential for each improvement.

  • Connect you with accredited installers who meet Westpac’s eligibility requirements, ensuring high-quality results.

Don’t miss out on the benefits. Complete your Free Home Assessment today and get a tailored plan for your home.

Start your free home assessment

What can I buy with a Westpac Green Loan?

  • Solar Panels and Solar Batteries
  • Double-Glazed Windows
  • Energy-Efficient Air Conditioning Systems
  • Solar Hot Water Systems and Heat Pumps
  • Induction Cooktops
  • EV Chargers

What Makes the Westpac Green Loan and 28Watt the Perfect Team?

  • No Hidden Costs: The Westpac Green Loan has no establishment or monthly account fees.
  • Expert advice: Our Free Home Assessment ensures that every dollar of your loan works as hard as possible for your home and your wallet.
  • Big savings, low repayments: With 10 years to repay, you can save big on your future energy bills, with a simple, small monthly repayment.

Handy tip!

All installations must be carried out by accredited installers, ensuring the highest standards of quality and safety. Through 28Watt, we’ll connect you with trusted professionals so you can stress less and enjoy your savings.

Eligibility Requirements for the Westpac Green Loan

  • Have an existing Westpac home or investment loan of at least $150,000.
  • The Green Loan must be secured against the same home.
  • Ensure lenders mortgage insurance (LMI) is not applicable.

How to Get Started

 

  1. Complete Your Free Home Assessment: This is the essential first step. We’ll help you determine the best upgrades for your home, give you a preliminary quote, and connect you with approved installers.

  2. Confirm Your Quote: If you’re happy with your savings estimate, your installer will visit your home to finalise your quote.

  3. Book an Appointment with Westpac: Book an appointment with a Westpac lender. You may be able to meet over video, phone, in-branch, or a home visit.

  4. Installation: Once approved, your installer will visit your home on the agreed upon date to complete the installation.

  5. Payment: Once you’ve received the final invoice, send it to Westpac to request payment.

 

28Watt's Takeaway

The new Westpac Green Loan is a great tool for Westpac mortgage holders looking to adopt energy efficiency in 2025. Westpac has the 2nd biggest mortgage portfolio in Australia with 23%, following closely behind CommBank. We expect their Sustainable Upgrades Home Loan to be popular amongst their customer base looking to combat the cost of living crisis by reducing their bills, without the need to fork out thousands in up-front costs.

Their list of eligible technologies that can be installed using the Green Loan is comprehensive, and as a nice touch also includes climate-resilient upgrades to protect against bushfires, floods, storms, and cyclones. With a maximum 10-year term, Westpac's Green Loan provides the payment flexibility many borrowers need to minimise monthly repayments while maximising energy bill savings.

At 28Watt, we’re here to make home electrification simple, affordable, and effective. The Westpac Green Loan is a fantastic tool for Westpac mortgage holders, but if that's not you - check out some green loan alternatives below.

 

Start your free home assessment