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A lower rate for lowering your emissions

A great personalised rate* for green purchases
Get a lower, personalised rate when purchasing or refinancing an electric or hybrid vehicle
$0 monthly fees
Enjoy having a little extra money in your pocket.
Unlimited extra repayments
Make extra repayments without any fee and pay your loan off sooner.
No penalties for early payout
Pay off your loan sooner without being charged a fee.

Drive into a better future today

Our Green Car Loans offer personalised rates lower than our standard secured personal loans, making it easier for you to go electric. You'll be able to drive away in a no or low-emission vehicle while enjoying clever features and benefits that'll help you save some money - like $0 monthly fees and no penalties for paying off your loan early.

What can I use a Green Car Loan for?

You can use our Green Car Loan to buy or refinance an eligible electric or hybrid vehicle and in doing so, help play your part in creating a better future today.

What items are eligible** for a Green Car Loan?
Electric or hybrid vehicles
To be eligible for a Green Car Loan, the car you are buying needs to have either an electric or hybrid engine and be listed on the Green Vehicle Guide.
Home charging station
Your home charging station, which must have a 'single-phase' or 'three-phase' dedicated wall box, will also be eligible if you're purchasing or refinancing an electric or hybrid vehicle.

Estimate your personalised rate* and repayments

An ideal loan for a range of purposes. Learn about personal loan types
Available for new or used cars and motorbikes up to seven years old. Learn about personal loan types
Available for electric and hybrid cars up to seven years old. Learn about personal loan types
Available for eligible green purchases. Learn about personal loan types
Must be between $5,000 and $100,000.
Loan term (years)
Repayment frequency
Estimate your credit rating
Tell us what you think your credit rating may be and we can estimate your interest rate. What’s a credit score?
Estimated
repayments
$45
week
Estimated repayments
$45
week
Interest rate for good credit
X.XX
p.a.
Comparison rate1
X.XX
p.a.
This estimate is based on information you've provided. Your interest rate and repayments will be confirmed on assessment.
Apply now
Apply in 10 minutes
Your total repayments will be $XX,XXX. Your total interest will be $X,XXX.

The calculations provided are estimates only and are based upon the information entered by the user. The calculations do not include upfront or continuing credit fees and charges and do not constitute a loan application or variation to an existing facility, loan offer or loan approval.

Your contracted personal loan repayments will be set to a monthly frequency, meaning you will need to meet the agreed repayment amount by the due date stated on your loan contract each month. To meet this minimum monthly amount, you can however make repayments weekly or fortnightly.

Rates and fees

Rates
Fees
Rates
Interest rate range 5.99% p.a. to 14.29% p.a.
Comparison rate range1 6.36% p.a. to 14.69% p.a.
Fees
Monthly fee $0
Early payout fee $0
Security administration fee $90
Establishment fee $175
Total fees $265
Start your application today
1. Apply online
It should take 10 minutes. Simply check if you qualify and begin the application process. Please note, you'll need evidence (such as a tax invoice) to ensure your purchase is eligible.
2. Approvals
If approved, you will receive your loan contract to accept online.
3. Pay and drive away
We'll work with you and the seller to arrange payment of your vehicle. For refinance customers , we'll work with the lender to transfer the loan.

Why go electric?

With fuel saving costs, a great driving experience and of course, the environmental feel-good factor, it's easy to see why more and more drivers are opting for an electric car.

With transport in Australia estimated to be the third largest source of carbon emissions (Source Climate Council) every electric and hybrid car introduced to our roads is a positive move towards tackling climate change by reducing emissions.

At Great Southern Bank, we want to support Australians looking to live in a better future. In fact, it's a big part of our 2022-24 Climate Action Plan. So, if you're looking to transition to an electric or hybrid car, we're here to help.

FAQS

Green Car Loan FAQs

Got a question? Find the answers in easy-to-understand terms here.

What does 'green' mean to Great Southern Bank?

In line with Great Southern Bank’s 2022-24 Climate Action Plan, and our goal of achieving net zero emissions by 2040, we have developed a range of green loan products to support our customers who share our values and want to contribute to a better future, while continuing to meet their financial needs.

To be considered green, products financed through our green loans must be:

  • Hybrid and electric vehicles (via a car dealer and private seller)
  • Home charging stations (for electric and hybrid motor vehicle charging) - only when purchasing a hybrid or electric vehicle
  • Solar panels
  • Battery packs
  • Hot water heat pump
  • Solar hot water system
What is a low or no-emission vehicle?

A low or no emission vehicle is a hybrid or electric vehicle listed on the Green Vehicle Guide.

When we talk about low or no emissions, we are specifically referring to emissions produced while using your electric car. This doesn’t include emissions produced during other processes, such as manufacturing the vehicle.

How do I prove that my vehicle is eligible ?

As part of the application process you will be asked to provide reasonable evidence (including a tax invoice) to show that the loan will be used to purchase or refinance an eligible green vehicle. The documentation can vary depending on where and how you purchase your green vehicle. We'll help you with this step and supply the relevant information during the approval process.

    What is the difference between a secured vs unsecured personal loan?

    A secured loan is 'secured' against the asset you are borrowing for such as a car, or home. If you are unable to repay the loan, the lender can sell the asset to cover the costs of the loan. Most secured personal loans have a lower interest rate when compared to an unsecured personal loan because there is an asset attached.

    An unsecured personal loan is a loan that does not require an asset as security. Your income and ability to repay the loan is still assessed, however you don't need an asset to secure the loan.

    If you’re buying a green vehicle under seven years old, a Great Southern Bank Green Car Loan may be right for you.

    If a vehicle does not meet the green car eligibility criteria, you may be interested in a Secured Fixed Car Loan or an Unsecured Fixed Personal Loan if you’re buying a car older than seven years.

    Where can I find a charging station?

    The Electric Vehicle Council provides a map of charging stations across Australia. You may find this useful for finding charging stations in your local area and when planning longer journeys.

    Are there government incentives for buying an electric vehicle?

    Each state and territory in Australia offers an incentive for purchasing an electric vehicle. These incentives can include rebates, charging subsidies and discounts on registration and stamp duty. To find out if you're eligible, check with your relevant state government department or get started with the helpful links below.

    It’s important to note that the rebate application status can change from time to time depending on where you live.

    What is a personalised interest rate?

    A personalised interest rate is an interest rate based on an assessment of your credit score. If you have an excellent credit score and a good history of repaying loans, credit cards and other bills, you’ll likely be offered a lower interest rate.

    When you apply for a personal loan, your individual situation and credit score will be considered when calculating your personalised interest rate.

    How do you calculate my rate?

    The rate you are offered is calculated on your personal circumstances and credit history. A few different factors are considered, including:

    • your credit score
    • information provided in your application
    • existing loans
    • the loan amount and your perceived ability to repay the loan.

    Don't forget the starting rate for our Secured Green Car Loan is lower than our traditional Secured Car Loan, so if you have a good credit history you could be rewarded with a low competitive rate.

    How can I check my credit score?

    You’re entitled to a free copy of your credit report every three months from a Credit Rating Bureau (CRB). The CRB must provide the report within 10 days of your request.

    The three main Credit Rating Bureaus in Australia are:

    What is a comparison rate?

    A comparison rate is the interest rate, plus additional fees and charges you will be expected to pay over the loan term. As comparison rates indicate the true cost of a loan, they make it easier to decide which is best for you.

    Can I make repayments on a weekly or fortnightly basis?

    Yes. Your loan contract will be set up for monthly repayments initially, but if you prefer to pay in weekly or fortnightly instalments simply call us on 133 282 or visit your local branch and we can arrange this for you.

    WHY CHOOSE US
    We’re committed to doing business in ways that benefit our customers and the wider community.
    We’re committed to climate action
    We’ve committed to net zero by 2040 and we've outlined how we’ll get there in our 2022-24 Climate Action Plan. We’re also certified as carbon neutral by Climate Active.
    We're socially responsible
    We believe that all Australians should have access to affordable and stable housing and are taking action to help achieve this through our commitment to financial inclusion, reconciliation and partnering with like-minded community organisations.
    We’re customer owned
    That means no shareholders. Our profits go back into new products and clever ways to help you manage your money.
    Ready to apply?
    Drive into the future and apply for a Green Car Loan today.
    Apply now
    You might also be interested in
    Unsecured Green Personal Loan
    Get a great rate for solar panels and other items that reduce emissions of your home.
    Get in touch
    We're here to help.
    Call 133 282

    Mon - Fri: 8:00am - 7:00pm (AEST)
    Sat: 8:00am - 4:00pm (AEST)

    Find a branch
    Speak to one of our friendly staff at a branch near you.
    Connect online
    Chat to us or browse help topics and FAQs.
    Important Information

    Loans are issued by Great Southern Bank, a business name of Credit Union Australia Ltd ABN 44 087 650 959, AFSL and Australian Credit Licence 238317. Lending criteria, limits, conditions and fees apply.

    Rates current as at 8 May 2024 and subject to change.

    Your loan contract will state the minimum monthly repayment amount. You can arrange with us to make repayments on a weekly or fortnightly basis.

    1. Comparison rate examples are accurate for a personal loan amount of $30,000 secured loan over a term of 5 years. WARNING: Comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

    2. Comparison rate examples are accurate for a personal loan amount of $30,000 unsecured loan over a term of 5 years. WARNING: Comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

    The Outstanding Value Excellent Credit Personal Loans Award considers only borrowers with an excellent credit profile (See Canstar s Personal Loans Awards methodology at http://www.canstar.com.au/current-ratings-awards for more information).

    *The rate you are offered is calculated based on your personal circumstances and credit history. A few different factors are considered, including:

    • Your credit score.
    • Information provided in your application.
    • Existing loans.
    • The loan amount and your perceived ability to repay the loan.

    Your personalised rate won’t be confirmed until you receive an offer from us (if approved) and is subject change before your loan settles.

    ** Green eligibility criteria must be met as at loan approval date and car charging station must be installed by an accredited installer.