Finty
Broken Hill Bank

Broken Hill Bank Green Energy Eco Loan

Variable rate

Broken Hill Bank's Finance Solution For All Of Your Solar, Energy Storage And Other Green Home Improvement Needs.

Written byDavid Boyd
Interest rate a year, from
6.99%
Comparison rate, from
8.24%
Establishment fee
$20
Monthly fee
$10
Borrow
$2,000 to $40,000

Monthly repayment

$20,000 over 3 years

Apply now

What it would cost

At the lowest published rate of 6.99%, including the monthly fee. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$627
Total repayments
$22,588
Interest and monthly fees
$2,588

Loan details

Rates

Interest rate (a year)
6.99%–7.79%
Comparison rate (a year)
8.24%–9.03%
Rate type
Variable
Security
Not published

Limits and fees

Loan amount
$2,000 to $40,000
Loan term
Not published
Establishment fee
$20
Monthly fee
$10

How it compares

Against the other personal loans we compare. Typical means the middle half of them.

Comparison rate

8.24%

From 8.24%. A typical loan starts at 10.14%.

Cost of $20,000 over 5 years

$4,376

Interest and fees at its starting rate. Typical is $5,513.

Setup fee

$20

A typical setup fee is $150.

Monthly fee

$10

A typical monthly fee is $8.

Most you can borrow

$40,000

Typically you can borrow up to $60,000.

Pros and cons

Pros

  • Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.

Cons

  • Your rate isn't known until you apply. It's set by your credit history and finances, anywhere from 6.99% to 7.79%, and only some people get the starting rate.
  • A $10 monthly fee. That adds $600 over 5 years, as well as the interest.
  • A variable rate. Your repayments can rise if the lender lifts its rate, though they can also fall.

Similar loans

Personal loans from other lenders that start at a similar comparison rate.