0% Interest green loans

Thinking of adding a brand new rooftop solar system, home battery or even an electric vehicle charger to your residence, but not sure how to make the expense a bit more manageable? A zero-interest green loan (which is Plenti’s, Zero Interest Payment Plan) can be a great way to keep costs down and help you make the transition to home renewables. So what is a Zero Interest Payment Plan? 

A Zero Interest Payment Plan (ZIPP) is an interest-free loan for eligible renewable energy projects that are purchased through an accredited installation partner. There are currently a few Australian lenders offering ZIPPs, however, their fees, loan terms, and T&Cs may vary. 

How does a ZIPP work?

A ZIPP can help you install a renewable energy system at home without breaking the bank. They function a little differently from traditional loans, so let’s check out the differences.

 A basic loan is made up of three key parts: 

• Principal: This is the amount borrowed. 
• Interest rate: Interest is the cost of borrowing from a lender and is charged as a percentage of the principal. You’ll see it charged either as a fixed rate (the rate is locked in for the life of the loan) or a variable rate (the rate might fluctuate up and down with the market).  
• Fees: This is another cost of borrowing funds and each lender's fees will vary, but some common fee types are: monthly fees, establishment fees, late or missed payment fees, and early exit fees. 

Benefits of a Zero Interest Payment Plan with Plenti

A ZIPP is an easy and transparent way of accessing renewable finance, and you’ll have certainty about exactly how much your loan will cost you.

It also can give you greater flexibility and control over your bills.

How much can I borrow?

The amount you can borrow with a Zero Interest Payment Plan will vary from lender to lender. With Plenti’s Plenti's Zero- Interest Payment Plan, you can borrow up to $30,000 for eligible green upgrades like solar panels, home batteries, or EV chargers, and repay over 1 to 10 years.

Who is eligible for a Plenti Zero Interest Payment Plan?

The great news about a ZIPP with Plenti is that it’s an unsecured loan, so you don’t need to use an asset (like your house) as security. Like all regulated credit products, lenders must follow responsible lending obligations and will apply eligibility criteria such as (but not limited to):

• Be over 18 years old
• Be an Australian citizen or permanent resident
• Have a valid driver's licence, Medicare Card or Australian Passport
• Own (or be purchasing) their own home
• Have a clear credit file
• Receiving a regular income

Further eligibility requirements may apply.