With climate change increasingly a concern, more and more people are seeking ways to live in harmony with the planet. Green loans are just one of the various avenues available to make green upgrades to your home. To learn more look at Eco-Friendly Financing Explore Handy Finance’s Green Loans.
What are Green Loans?
Green loans are a type of personal loan intended to finance sustainability projects. All these schemes encourage homeowners and renters to invest in measures that cut their environmental footprint, like solar panels for generating power, rainwater tanks or ceiling insulation.
The chief advantages of green loans are that interest rates tend to be lower than personal-use consumer credit; terms range from one to 10 years, with no monthly or early repayment fees; and loan amounts come in between AU $ 2,000 and $75,000. But they also empower people to ‘go green’ for an affordable price and begin saving on energy immediately.
Applying is Simple
How does one go about getting a green loan at Handy Finance? The company also provides a free quote, which can be obtained in minutes and will leave your credit score unscathed. Using this, you can know roughly what rate of interest will be available to you.
You can apply directly online if you like this quote, no forms to fill in. Decisions are made on the spot, and approved funds can be credited to your account in less than 24 hours. The entire application process is meant to be simple and open.
Eligibility and Rates
Handy Finance established some basic criteria to qualify for a green loan. Firstly, they need to be at least 18 years old and residents of Australia. The applicant must also be able to prove that they have a regular income and the ability to repay.
The applicant’s credit history and rating will determine the interest rate that is given if they are deemed eligible. Lower charges will be applied to those with excellent credit. Rates often start at 6.57% annually for applicants with good credit and go up to 19.99% for higher-risk candidates with less favourable credit histories, according to Handy Finance. The borrower’s creditworthiness and unique conditions decide the interest rate.
Use the Green Loan Calculator
Before applying for a loan, applicants can estimate their repayments using the green loan calculator on the Handy Finance website. Users may enter information such as the amount they want to borrow, the length of the loan if they own their home or rent, whether they live with parents, and their credit score, which serves as a risk indicator. The calculator provides the potential weekly, fortnightly, or monthly payback amounts instantaneously based on the data entered. This helps borrowers determine if the predicted amounts will be within their limits and provides them with a clear notion of how much to spend for repayments.
Conclusion
Renters and homeowners may start saving money on energy bills and investing in sustainability initiatives at an accessible price with green financing. Using a lender such as Handy Finance makes the application procedure clear-cut and easy. They also offer to provide clarity up front with their green loan calculator. Green loans are something to look into if you want to use a personal loan to pay for your environmentally friendly home improvements.
