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Why choose a Savvy Switch green personal loan?
Lower interest rate
A reduced personal loan rate to make energy-efficient choices more affordable.
No ongoing or annual fees
Keep costs simple with no surprises along the way (application fee applies1).
Extra repayments without penalty
Get ahead on your loan and reduce interest faster.
Flexible repayments2
Pay it off sooner and save on interest, whenever it suits you.
Free redraw3
Access extra funds if you're ahead on your repayments, when you need them.
What is a Savvy Switch green personal loan?
A Savvy Switch Personal Loan is a lower-rate personal loan, available as secured or unsecured, designed to help you fund energy‑efficient choices for your home or the road. Whether you’re upgrading with solar, insulation or efficient heating, or switching to an electric or hybrid vehicle, it supports practical, future‑focused investments that may help reduce running costs, lower your carbon footprint and help you live more sustainably.
What can I use a Savvy Switch Green Personal Loan for?
Electric Vehicles
Available for Green Rated Vehicles with a combined Tailpipe CO2 rating below 150g/km.
Find out more at www.greenvehicle.gov.au
Energy efficient appliances
- Energy efficient white goods and appliances - minimum 4.5 out of 6 or minimum 6 star rating out of 10 (excluding TVs)
- Water efficient white goods and appliances - minimum 4.5 star rating out of 6.
Home heating & insulation
- Highly efficient electric heaters - minimum 5/6 stars
- Gas, solar, hydronic or reverse cycle air conditioners - minimum 4/6 or 6/10 stars
- Split systems, evaporative cooler or high star rated zoned air conditioner - minimum 4/6 or 6/10 stars
- Home insulation - above minimum level for geographic area (www.yourhome.gov.au/passive-design/insulation)
Water systems
- Energy efficient instantaneous hot water systems.
- Solar hot water systems
- Grey water treatment systems
- Rainwater tanks and water pumps
Solar & batteries
- Solar / photovoltaic (PV) panels & systems
- Solar hydronic heat pump systems
- Solar pool heaters
- Battery systems to store solar energy
- Tesla power wall
Home improvement
- Certified double glazing for windows
- External awnings
- Home ventilation systems
- Light Emitting Diode (LED) lighting
Important to know
Savvy Switch is designed for eligible green purchases. As part of your application, we’ll just need a quote, invoice or similar document from your supplier to confirm what you’re purchasing and the expected cost.
Choose the Savvy Switch green personal loan that's best suited to your purchase...
Start your application today
Whether you are upgrading your home or switching to an electric vehicle, getting started is easy.
1. Check eligibility.
Review our list online to make sure your purchase is eligible.
2. Choose the loan that's suited to you.
Our Savvy Switch has both secured and unsecured options.
3. Apply online
Fill in a few important details to get the ball rolling. Once we receive your application, we'll be in touch.
We'll review your application based on our standard lending criteria, terms and conditions.
Frequently asked questions
It’s a personal loan, (secured or unsecured) available to fund eligible energy efficient products.
A secured loan is best for a vehicle, like an EV (electric vehicle) or a PHEV (plug in hybrid vehicle).
An unsecured loan is best for things to add to your home like solar panels, water tanks, insulation or energy efficient heating.
The minimum period is 6 months and the maximum period is up to seven (7) years.
At a minimum, repayments must be made monthly, but you can set up regular payments to your loan on a weekly, fortnightly, or monthly basis to suit you.1
An application fee of $200 applies.
The minimum loan amount is $3000.
The maximum loan amount is $80,000.
Yes, if you're ahead on your repayments you can redraw your money for free.
Yes, we have a team of lending experts here in Tasmania. And all our lending decisions are made locally.
Helping Tasmanians secure their future
For more than 150 years, Bank of us has helped Tasmanians improve their financial wellbeing through practical lending designed for real life.
Savvy Switch continues that commitment, helping Tasmanians invest in energy-efficient upgrades like solar panels, hybrid vehicles and home improvements without compromising financial wellbeing.
Because making sustainable choices should also make financial sense.
We're helping Tasmanians be in the best possible financial shape, wherever they are in life.
How much can I borrow?
Use our calculators to see what repayments look like and how they fit in your budget.4
Personal Loan Calculator
Budget Planner
Other personal loans to consider ...
Vehicle loan
Buying a new vehicle that's up to 2 years old, and a bit short on your own dollars? We've got you covered.
6
.99P.A.
Variable
7
.27P.A.#
Comparison rate
Secured residential loan
Designed for current Bank of us home loan customers needing extra funds for any worthwhile purpose.
6
.29P.A.
Variable
6
.57P.A.#
Comparison rate
Ideas, guides and inspiration
*Bank of us lending criteria, terms and conditions including fees and charges apply. For Savvy Switch unsecured loans, any loan amount above $30,000 up to $80,000 will be considered on a case-by-case basis subject to credit assessment and eligibility. Full details are available on application. The rates provided above are for new lending only and are subject to change. Target Market Determinations for these products are available here.
#The comparison rates are calculated on the basis of a loan of $30,000 over a term of 5 years. WARNING: These comparison rates apply only to the 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.
1. $200 application fee applies.
2. Subject to satisfying the minimum monthly repayment detailed in the loan contract.
3. If you're ahead on your repayments you can redraw your money for free
4. Calculator results should be used as a guide only and do not represent an offer of credit. Any subsequent loan applications are subject to Bank of us credit assessment criteria.
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Bank of us acknowledges and pays respect to the palawa - Tasmanian Aboriginal people - as the traditional owners of all the lands and waters. And we pay our respects to Elders past, present and emerging for they hold the knowledge, memories and culture of Aboriginal people in lutruwita/ Tasmania.
Bank of us is a trading name of B&E Ltd
ABN: 32 087 652 088
AFSL & Australian Credit Licence: 236870
BSB: 632 001
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