Installing solar interest free for a warmer, healthier home

As part of a raft of new sustainability initiatives, Westpac recently announced an expansion of their interest-free loans for making homes warmer. 

Westpac NZ chief executive Catherine McGrath says the bank is focused on supporting customers who want to take positive action:

“Climate change is a growing threat to our environment, communities and business. Cutting emissions reduces risk, helps protect the world we live in for future generations and also creates opportunities to do things in new ways.”

“As well as supporting customers to live more sustainably, these loans also help with cost of living pressures through the zero interest charged and in many cases reduced energy costs.” 

Warm Up loan

With the Warm Up loan, customers can borrow up to $40,000 interest-free to make their home warmer, drier, more sustainable and energy efficient.

It is available to people living in their own homes and to landlords. It can be used for installing insulation, heat pumps, electric vehicle chargers, solar power systems and batteries for storing power from solar (or other sources) and other heating or power efficiency systems.

Main features

• Interest-free loan up to $40,000 for five years.
• Choose a mix of insulation, heat pumps, double glazing, ventilation, wood burners, solar power systems and batteries, as well as electric vehicle chargers.
• Flexibility to make lump sum payments or pay the loan off earlier without prepayment costs.
• Available for new or current Westpac Choices Home Loan customers.
• No establishment fee applies.