Loans as they should be
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Borrow up to $45,000 for a range of loan purposes
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Simple online application
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Loan terms from 12 to 60 months
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No early repayment fees
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Fast finance – funds typically disbursed within 24 hours of approval
Learn more about our green loans
If you’re looking at anything like better home insulation, solar power or water-saving systems, a green loan might help you get there. Here at Rapid, we offer secured personal loans for eligible green initiatives that you can use to make your home more energy efficient. With a wide range of upgrades you can complete with a green personal loan, extra finance can help spread the costs of your upgrades over regular repayments.
All applications are subject to our lending criteria and approval. Learn more and apply online today.
Learn More
Our green loans are a type of secured personal loan designed for Australians who want to invest in energy-efficient home upgrades. If successful, you can use the funds to put towards a range of eligible improvements that may improve the energy efficiency of your home. That could be anything from installing solar panels and adding battery systems, to upgrading a heat-pump hot water system or getting double-glazed windows.
If you’re approved for a green loan, it can help you finance eligible home improvements and spread the cost over the agreed loan term. Depending on the upgrades you choose and how you use energy at home, some improvements may also help reduce your household energy consumption or running costs.
We offer personal green loans starting from $2,001, ranging up to $45,000. The application process can be completed online and we’ll review and assess your circumstances individually.
Finance Options for Sustainable Home Improvements
While the long-term savings of generating your own energy or reducing the amount of heating and cooling you need can be great, the upfront costs can be hefty.
Finding a lending option that lets you spread that cost over manageable repayments is one way to get your home feeling more comfortable and energy-efficient without emptying your savings account.
A green loan can help you make the switch sooner rather than later, and pay it off over time, all while working towards a lower energy bill.
What Green Home Improvements Can Be Financed?
There’s a lot of ways you can reduce your energy consumption and save money on your power bills. A green personal loan from Rapid can be used to finance eligible upgrades including:
- Solar panel systems
- Home battery storage
- Heat-pump hot water systems
- Energy-efficient heating and cooling systems
- Insulation upgrades
- Double-glazed windows
- Water-saving systems
- Eligible energy-efficient appliances
- EV charging point installation for an electric vehicle
Whether it’s a big home renovation or simply a few upgrades to make your home lower-cost to run, our green loans may be worth considering.
What to Consider Before Applying for a Green Loan
Before you apply, there’s a bit of research you should do first. The main thing is getting an estimate of the total amount of work you want done, followed by how much you’ll need to borrow. Depending on the state or territory you live in, there may be subsidies that you can apply for that lower the overall cost of things like solar panel installation. Getting quotes from a few tradespeople is worthwhile when it comes to figuring out the overall cost you can anticipate paying for your home upgrades.
You’ll then want to consider how long you want to make repayments for, and how those repayments will fit into your existing financial budget. Have a look at your savings, weigh up how much you can repay on a green loan each month, and decide whether it’s better to upgrade a few things at once, or stagger them out across a longer period of time to spread the cost.
As with all our loans, your application will be assessed against our standard lending criteria, including your income, expenses and credit history.
How Green Loan Applications Work
Before applying, you can check out how it works. We’ve made the process as simple as possible and give you all the information you need to get started.
- Apply online: The application process can be completed online. Before starting your application, getting your documentation together can make the process faster. You’ll need some basic information like proof of ID, proof of income, and we’ll also do some checks like reviewing your credit score. You should also have an idea of how much you’d like to borrow.
- We review your application: After you’ve submitted everything through our online portal, our friendly loan consultants will review your application. If there’s anything missing or we need some more information from you to review your application properly, we’ll get in touch.
- Receive an outcome: Following the review process, we’ll let you know whether your application was successful. If you are approved, we’ll provide the details of your loan, including the approved amount, applicable interest rate, repayment amount and loan term.
- Sign and settle: If you accept the offer, you’ll need to review and sign your loan contract. Once your loan is settled, we’ll release the funds to your account. We aim to process applications as quickly as possible, and you may have the money paid out within the same day of approval.
Benefits of Financing Energy-Efficient Home Upgrades
Financing your sustainable renovations with a green loan can help you make the switch, rather than waiting to save the full cost upfront. Between a fixed-rate loan that means you’ll always know exactly what your repayments look like, and lowered long-term costs of running your home, it can be a major benefit for environmentally-conscious homeowners.
Green Loans for Solar Panels and Home Batteries
One of the main upgrades Australians are opting for is solar panels. This can be installing a solar system for the first time, upgrading an existing system or adding home battery storage. No matter which you’re going for, our personal loans can help cover the cost of equipment and installation.
Green Loans for Energy-Efficient Home Improvements
Outside of powering your home, green personal loans can also be used to help retain the heat in winter and the cool air in summer. Underfloor insulation or double-glazed windows are both popular options. You might also want to consider water-saving systems or energy-efficient appliances that help keep running costs down. These upgrades can make your home more comfortable year-round while helping to reduce energy waste.
How It Works
1. Apply Online
Get started with our simple online application and be on your way in just a few clicks! Our secure online platform keeps your information safe.
2. We’ll Get In Touch
Your application will be reviewed and one of our friendly loan consultants will be in touch soon! We’re here to help.
3. Receive Funds
We take our commitment to being fast seriously! If you applied in the morning and were approved, your funds could be available the very same day.
Why go with Rapid for your loan?
Designed for Simplicity
Our auto and personal loan products are designed to make borrowing simple, with flexible options for loan amount, loan term and repayment frequency.
Fast Online Application
Our online application takes just minutes, and our secure online portal makes it easy to upload your supporting documents quickly and conveniently.
Real People, Ready to Help
Our dedicated Customer Service team is here to help. From application through to settlement, we’re committed to making every interaction easy to understand and supportive.
50,000 Customers and Counting
We’ve helped more than 50,000 customers access finance. Our experienced team understands that life isn’t always straightforward and is here to support you throughout the process.
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Personal loan questions
What Is a Green Loan?
At Rapid Loans, a green loan is a secured personal loan that may be used to finance eligible sustainable or energy-efficient home improvements and renovations. All applications are subject to our lending criteria and approval.
What can I use a green loan for?
A green loan can be used for a wide variety of upgrades, including solar panels, home batteries, modern heat-pump hot water systems, water storage, insulation, double-glazed windows, and basic essentials like energy-efficient appliances. If you have an electric vehicle, green finance loans can also be used for installing a charging station.
Can I use a green loan to finance solar panels?
Yes. Rapid Loans’ secured personal loans may be used to help finance eligible solar panel systems and installation costs, subject to our lending criteria and approval.
Depending on where you live and the system you’re installing, government rebates or incentive programs may also be available. Eligibility and availability vary, so check the relevant government program for current information.
Can green loans be used for insulation, windows, or energy-efficient appliances?
Yes. Eligible upgrades may include insulation, double-glazed windows, heat-pump systems and certain energy-efficient appliances. The specific improvements you can finance will depend on their eligibility and the terms of your approved loan.
Can I use a green loan for multiple home improvements?
Yes, with green home loan options ranging up to $45,000, if successful, you can use the funds to upgrade a number of things at the same time provided the total falls within your approved loan amount.
Do I need to own my own home to apply for a green loan?
Typically, you will need to own the property that you’re proposing to upgrade with a green loan. If you’re unsure, our team can talk you through eligibility as part of your application.
Are green loans secured or unsecured?
Rapid Loans’ green loans are secured personal loans. This means you’ll need a form of collateral as a part of your application, which is typically your personal vehicle.
Do solar panels or batteries need to be installed by an accredited provider?
To ensure the quality of the installation and the longevity of your solar panels, if you’re approved for a solar panel loan, we do recommend using an accredited installer. This is beneficial both for compliance with relevant standards but also to support any warranty or rebate entitlements to give the best benefits of getting solar panels installed in the first place.
Can I choose my loan term?
Rapid Loans offers loan terms from 12 to 60 months, subject to approval. The available loan term will depend on your approved loan amount and our lending criteria. Repayments can be made weekly, fortnightly or monthly, depending on your approved loan agreement.
What are the benefits of taking out a personal loan?
A personal loan provides a fixed loan amount that is repaid over an agreed loan term with scheduled repayments. At Rapid Loans, our secured personal loans also offer fixed interest rates, flexible repayment frequencies and no early repayment fees, giving you greater certainty about your repayment schedule over the life of the loan.
What is a personal loan?
At Rapid Loans, a personal loan is a secured personal loan that requires an eligible registered vehicle as security. Personal loans provide a fixed loan amount that is repaid over an agreed loan term with scheduled repayments.
To apply for a Rapid Loans personal loan, applicants generally need to:
- Be at least 18 years old.
- Be an Australian citizen or permanent resident.
- Have a regular source of income.
- Provide an eligible registered vehicle as security.
- Meet our lending criteria and responsible lending obligations.
Subject to approval, a personal loan may be used for a range of eligible purposes, including:
- Travel and holidays
- Weddings and special events
- Home improvements and repairs
- Furniture and household purchases
- Medical or dental expenses
- Education or training costs
- Other eligible personal expenses
What’s the difference between secured and unsecured personal loans?
The main difference between secured and unsecured personal loans is whether security is required.
A secured personal loan requires an eligible asset to be used as security. At Rapid Loans, an eligible registered vehicle is generally required. You can continue using your vehicle as normal throughout the loan term, provided you continue to meet your loan obligations.
Rapid Loans does not offer unsecured personal loans. We provide secured personal loans only, with all applications subject to our lending criteria and approval.
Can I get a personal loan if I’m self-employed?
Yes. If you’re self-employed or a small business owner, you may be eligible to apply for a Rapid Loans personal loan, subject to our lending criteria and approval.
As part of our assessment, we may request different supporting documentation, such as tax returns or other financial information, instead of employee payslips.
Repayments are available weekly, fortnightly or monthly, depending on your approved loan agreement.
What is a per annum (p.a.) comparison rate?
A comparison rate is designed to help you compare the overall cost of different loans. It takes into account the interest rate together with most upfront and ongoing fees and charges, based on a standard loan amount and term prescribed by law.
Because it includes more than just the interest rate, a comparison rate can provide a broader indication of a loan’s cost. However, your actual comparison rate may vary depending on your approved loan amount, loan term and individual circumstances.
Do you charge early repayment fees?
No. Rapid Loans does not charge early repayment fees. You can make additional repayments or repay your loan early without penalty. Paying your loan off early may reduce the total interest payable over the life of your loan.
Do you offer fixed interest rates?
Yes. Rapid Loans offers fixed interest rates on our personal and car loans. Your interest rate will be outlined in your loan contract and will depend on factors such as your approved loan product, loan amount and individual circumstances.
What do I need to apply for a loan?
To apply for a loan, you’ll need to provide identification and financial information so we can assess your application under our lending criteria and responsible lending obligations.
This may include:
- Proof of identity, such as a driver’s licence or passport.
- Proof of income and financial information, such as payslips or bank statements.
- Details of your current financial commitments, including existing loans or credit facilities.
Depending on your circumstances, we may request additional information or supporting documentation.
How do I apply for a personal loan?
Applying for a Rapid Loans personal loan is simple. Select Apply Now on our website and complete our secure online application. You’ll be asked to provide some personal, financial and employment information, along with any supporting documentation required for assessment.
Our lending team will review your application and contact you if any additional information is needed.
All applications are subject to our lending criteria and approval. Terms and conditions, fees and charges apply.
How can I get a personal loan with a bad credit score?
Having a less-than-perfect credit history doesn’t automatically prevent you from applying for a loan. Rapid Loans assesses every application individually, taking into account a range of factors, including your credit history, income, financial commitments and our lending criteria.
If you’re considering applying, it’s worth checking your credit report to ensure the information it contains is accurate. Avoid applying for multiple loans in a short period, as this may affect your credit profile.
All applications are subject to our lending criteria, responsible lending obligations and approval.
How long do personal loans take to process?
We aim to review applications as quickly as possible. Processing times will depend on your individual circumstances and whether all required information has been provided.
If your application is approved and all requirements have been met, funds may be available as soon as the next business day.
How much can I borrow for sustainable home improvements?
Our green personal loans start at $2,001 and range up to $45,000. Depending on your circumstances and the scope of work you’re aiming to get done, you may be offered a different loan amount to what you apply for if your application is successful.
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