-
Westpac bank - Source: ONE News -
Related
Westpac Banking Corporation in Australia is set to introduce interest free "green loans" worth up to $AU10,000.
The company on Sunday said the loans support the Australian Government Green Loans Program and will give homeowners an opportunity to improve their energy and water use efficiency.
"The Green Loans Program assists families to install solar, water saving and energy efficient products to reduce greenhouse gas emissions," a statement from Westpac said.
"It also has the potential to help around 360,000 Australian households save on energy and water bills."
Westpac group executive for retail and business banking, Peter Hanlon, said the initiative was an investment into the future.
"Sustainability is an integral part of Westpac's business strategy, having already reduced our emissions by 40% between 1996 and 2008 with a further reduction of 30% targeted by 2013," Hanlon said.
"We will continue to develop innovative new products and services which meet emerging consumer needs on these issues," he said.
The green loans will be available from November 16.
They include no monthly service fees, establishment fee or prepayment fee, and are interest free, to be repaid over a maximum of four years.
"We believe it is important to educate and assist our customers to take responsible actions towards creating an environmentally sustainable future," Hanlon said.
