solar panel Loans
For going green and never going back.
Low rates from6.50 % p.a.
Comparison Rate*8.30 % p.a.
Only takes a minute • Will not impact your credit score
Start saving, with a great rate
A great rate, designed just for you
We use technology to cut out costs and inefficiencies, so you’ll get a really great deal.
Better rates for better borrowers
We take our low rates personally – and your good credit history unlocks a whole new level of savings.
A Rate Promise you can trust
We stand by our rates, so you can be sure you’re not paying more than you need to.
Your Green Loan, your way.
Start saving straight away.
An unsecured personal loan means no need for valuations or project plans. And less red tape means a faster approval process – you’ll be saving money from solar energy well before any home loan top up would have come through.
An affordable investment
Simply decide on an affordable monthly repayment, and we’ll find a loan term to match, up to five years, up to $50,000.
Pay it your way
Saving so much on your energy that you’re able to pay us back early? Nicely done – you’ll pay less interest, and there are no fees or penalties for settling up sooner.
You do a little. We’ll change a lot.
Simple by design.
We’ve worked hard to make it easy for you, digitally. Request a rate estimate, apply for your loan and accept your contract all online. There’s no meetings, physical contracts or unnecessary delays. You can even manage it all from your mobile.
Get the green light, sooner.
Estimating your rate only takes a minute, and an unsecured personal loan needs much less paperwork than a mortgage extension. We typically finalise successful loans in a day or two. So you’ll have the funds in your account ready to start work sooner than you think.
Easy to follow expertise
Straight talking and jargon free, with nothing to prove and nothing to hide.
Making tomorrow better, together.
11,000 greener homes
We’ve helped so many Australians start saving with solar panels and home batteries. Will you be next?
We’ve done this before. A lot.
Specialising in personal lending since 2016, we combine financial expertise with industry shaping technology.
Clearly different, to benefit you.
An open book, with nothing to hide – we’re registered with ASIC, listed on the ASX and government regulated.
1 big idea? 4 simple steps
Get your rate
1 minute, 10 simple questions. It’s all we need to estimate your interest rate.
Apply in minutes
Complete your loan application with a click or a tap in under 10 minutes.
Money in the bank
Once approved and accepted we’ll transfer the funds within two days.
Funds will be transferred directly to the installer
The lowdown on Green Loans
What is a green loan?
A green loan is a type of unsecured loan that can be used to fund the purchase and installation of approved clean energy products, helping you lower your power bills while supporting the health of the planet.
Plenti green loans can provide a lower interest rate than traditional personal loans or credit cards, and with terms of up to 7 years, offer affordable repayments to help more homeowners access the benefits of clean energy technology.
What can I use a green loan for?
Green loans can only be used to fund the purchase and installation of energy efficient products. They include:
- Solar panels and home batteries
- Solar pool heating units
- Energy-efficient lighting
- Energy-efficient air conditioning units
- Hybrid low emission cars
- Air source heat pumps
- Power factor correction
- Variable speed and frequency drives
It’s important to note that not all products in the above categories are eligible for a green loan (or government subsidy). Renewable energy products must meet strict standards of efficiency and performance. To find out if a specific product is eligible, it’s best to consult your green loan provider. If your product does not qualify you may still be able to fund your purchase by applying for one of our low rate personal loans.
Green loan providers usually work with an approved list of product suppliers, installers, and other contractors. Ordinarily, the approved contractor will carry out work on your property and then submit their invoices directly to the green loan provider. This means that you can avoid borrowing any more than you need. Instead, you repay only the cost of the product itself plus interest. Green loans tend to have terms that are comparable to those of personal loans: for example with Plenti, you can pay your green loan back over three to seven years.
We’ll pay funds into your nominated bank account on the next business day following your loan acceptance. This gives you the flexibility to manage and pay for your green costs any way you like.
How much does a green loan cost?
Green loans generally have three components that that affect the total cost over the life of the loan:
- the interest rate (this may be fixed or variable)
- a one-time establishment fee
- ongoing fees (such as account maintenance fees, late payment fees, and other charges)
These costs are often combined to create a comparison rate that represents the total price of a loan. This allows you to compare different green loans to find the one that best suits your needs.
For an overview of fees and charges (including interest rates) associated with Plenti’s green loans, see the table below:
|Term||3 Year||Year 4||Year 5||6 Year||7 Year|
|Comparison Rate*||from 10.57%||from 7.90%||from 7.90%||from 7.90%||from 7.90%|
|Credit Assistance Fee||from|
|Early Repayment Fees||$0||$0||$0||$0||$0|
*Comparison rate for 3 year loans are on an unsecured renewable energy loan of $10,000 over a 36 month term. Comparison rates for 4, 5, 6 and 7 year loans are based on an unsecured renewable energy loan of $30,0000 over a 60 month term. Comparison rates shown assume customer with an excellent credit history. Rates current as at 9pm, 18 April 2021. Warning: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates, Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
Am I eligible for a green loan?
Plenti provides secured and unsecured green loans to Australian-residents. Save time before applying by making sure:
- You are aged 21 or over
- You are an Australian citizen or permanent resident
- You have a regular source of income that you can demonstrate
- You have a good credit history
To see if you may qualify for a Plenti green loan, you can get a RateEstimate, it only takes 1 minute and won’t affect your credit score. If you request a RateEstimate, we will ask you a few questions so we can calculate an initial estimate of your borrowing potential, and the rates, fees and charges that may apply to your loan.
In making a final decision, we consider a number of factors, including your credit file as provided to us by Equifax or Illion, our credit bureau partners. If you would like more information regarding your credit file, you should contact Equifax and Illion directly.
How do I apply for a green loan?
To apply for a Plenti green loan, you will need to complete our identity verification process successfully. To complete identity verification you will need to provide one or more of the following documents:
- Australian State or Territory-issued drivers licence
- Australian or foreign passport
- Address verification document such as a utility bill or tenancy agreement
These details can either be entered on our website during the application process and automatically verified online or you can upload as part of the application process.
When assessing your application, we are looking for evidence of how suitable a loan is to your current circumstances. Among other things, we’ll assess your:
- Employment stability;
- Repayment history;
- Credit bureau information; and
- Other details you communicate to us.
You will also be asked to verify your income and expenses, and may be asked to provide supporting documentation such as bank statement information or payslips. The documents you will need to provide will be displayed to you during the application process.
Dream it. Plan it. Do it.
Aussies love the sunshine. And this year, more than anywhere else in the world, with more Australians installing solar energy in 2020 than any other nation. Impressively, more than 21% of Australian homes are looking to solar energy – a whopping 2.59 million solar panels.
With the cost of non-renewable energy rising all the time, there’s never been a better time to consider a green energy loan. Solar panels are paving the way for a more sustainable future for our children. We’re for going green and never going back. Are you?
It’s time to invest in a greener tomorrow.
Representative example: Based on $30,000 loan with a 60 month term for a borrower with an excellent credit history at a comparison rate of 8.30% p.a. Plenti green loan repayment terms range from a minimum of 3 years to a maximum of 7 years. Interest rates start from 6.50% p.a. (comparison rate 8.30% p.a.) Rates are subject to change depending on the rates offered by lenders in our Lending Markets. Rates stated as at 9pm, 18 April 2021 and are subject to change. Plenti credit criteria and terms and conditions apply.