Suncorp Launches Green Home Loan Product

Suncorp has announced a new green home loan that can help customers with solar panels withdraw money from their mortgages, in what is considered a market first.

The big bank offers cash bonuses to new and old customers, with a cashback of $ 3,000 for new customers who have solar panels in their homes.

The product, which Suncorp calls the Solar Home Bonus, will also see customers who have their mortgage with the bank and a solar panel system eligible for a $ 500 loyalty bonus.

Suncorp says this is a market first, although not the first green trend in the mortgage market: CBA offers a green lending product that can provide loans to clients for installing solar panels, while Firstmac has placed offers for RMBS that consist entirely of green houses. ready.

Suncorp CEO Clive van Horen said it was vital for banks to keep pace with increasingly environmentally conscious customers.

“We know what is important to our customers and we provide banking services that are good for them and for the world,” he said.

“We are committed to providing banking solutions to customers that support sustainability and our Solar Home Bonus is a practical step towards a more sustainable world. “

“Not only will we continue to offer our clients more environmentally friendly banking options, but the Bank is also committed to being powered 100% by renewable electricity by 2025 and to achieving zero net emissions. greenhouse gases in all our operations by 2050. ”

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