Great Southern Bank launches discounted green home offer

24 October 2024

One of Australia’s leading challenger banks has launched a green home offer with a rate discount on loans for new builds and existing homes.

The bank is providing a discount to its range of owner occupier and investor variable rates. The offer applies to loans on homes constructed in the last 12 months with a Nationwide House Energy Rating Scheme (NatHERS) rating of 7.5 or above.

The offer supports the bank’s purpose of helping all Australians own their own home and complements the strong growth in the bank’s green personal loans, which were launched last year. In the months between the launch and June 2024, the bank provided over $3.3 million in green personal lending to help finance energy and efficiency improvements such as solar panels, or to buy electric vehicles.

Megan Keleher, Chief Customer Officer at Great Southern Bank said:

“We know from our research that Australians are frequently looking for more from their banks than just finance. They want a trusted partner that seeks to operate sustainably and ethically, in ways that benefit customers, community and the wider environment.”

“Through this green home offer, we’re looking to reward Australians who are being more environmentally conscious. They not only get the benefit of the rate discount, but could also receive savings on their energy bills thanks to their more energy efficient home.”

Alongside energy efficiency and other requirements, to qualify for the offer the property must have been constructed within the last 12 months (for existing properties).

The bank has continued to make significant steps over the last year to be a more responsible bank and a better corporate citizen, including:

• Becoming a Certified B Corporation (B Corp), a testament to its dedication to ethical business practices and social and environmental responsibility.
• Transitioned its Sydney and Melbourne hubs, as well as a further nine branches, to 100% renewable electricity.
• Entering into more than 35,000 individual payment plans or hardship arrangements to help customers experiencing financial difficulty across the year.