Looking to finance your solar panel installation? BNZ’s Green Home Loan Top-Up offers up to $80,000 at just 1% interest for 3 years — one of the most competitive rates available from New Zealand’s major banks.
As a SEANZ-approved installer, Sunshine Solar can provide the documentation you need to qualify for this loan.
💡 Key Benefit
Borrow up to $80,000 at 1% p.a. for solar panels, batteries, heat pumps, EVs, and other sustainable upgrades.
What Is the BNZ Green Home Loan Top-Up?
The BNZ Green Home Loan Top-Up is a special financing option that lets you borrow money at a reduced interest rate for eligible sustainable home upgrades. It’s designed to make eco-friendly improvements more affordable for Kiwi homeowners.
Since launching in December 2022, BNZ has lent over $200 million through this programme, with more than 6,000 active loans helping New Zealanders invest in solar, heat pumps, and energy efficiency.
How Much Can You Borrow?
$80,000
Maximum Loan
1%
Interest Rate
3 years
Fixed Term
- Maximum loan: $80,000
- Minimum loan: $5,000
- Interest rate: 1% p.a. fixed for 3 years
- After 3 years: Reverts to BNZ’s floating rate (currently ~8.69%)
What Can You Use the Loan For?
The BNZ Green Home Loan covers a wide range of sustainable upgrades:
Solar & Energy
- Solar panels and PV systems
- Solar batteries and inverters
- Solar water heating systems
Home Efficiency
- Heat pumps (including hot water heat pumps)
- Insulation
- Double or triple glazing
- Ventilation systems
- Rainwater tanks
Electric Transport
- Electric vehicles (EVs)
- Plug-in hybrid vehicles
- E-bikes
- EV chargers
Who Is Eligible for the BNZ Green Loan?
To qualify for the BNZ Green Home Loan Top-Up, you must:
- Have a BNZ home loan (or be willing to transfer your mortgage to BNZ)
- Have at least 20% equity in your property
- Use a SEANZ-approved installer for solar panels and batteries
- Provide a quote from an eligible supplier
Sunshine Solar Is SEANZ Approved
We’re an eligible installer for BNZ Green Home Loan applications. We’ll provide all the documentation you need.
What Are the Fees?
- Establishment fee: $150 for new customers
- Top-up fee: $100 for existing customers
- Early repayment: Fees may apply
What Happens After 3 Years?
After the initial 3-year fixed period at 1%, your loan will either:
- Revert to BNZ’s floating home loan rate (currently around 8.69%), or
- Be re-fixed at BNZ’s current fixed rates
Tip: Plan to pay off as much as possible during the 1% period, or budget for higher repayments after year 3.
How Does BNZ Compare to Other Banks?
| Bank | Max Loan | Rate | Term |
|---|---|---|---|
| BNZ | $80,000 | 1% | 3 years |
| Westpac | $50,000 | 0% | 5 years |
| ANZ | $80,000 | 1% | 3 years |
| Kiwibank | No limit | ~8.5% | +$2k contribution |
BNZ vs Westpac: BNZ offers a higher maximum ($80k vs $50k) but Westpac has 0% interest for 5 years. If you need more than $50,000, BNZ is the better choice.
BNZ vs ANZ: Nearly identical terms. BNZ’s post-term rate is clearer upfront, while ANZ offers more flexibility in choosing your rate after 3 years.
See our full comparison of NZ solar loans for more details.
How to Apply for the BNZ Green Home Loan
- Get a solar quote from a SEANZ-approved installer like Sunshine Solar
- Contact BNZ or visit your local branch
- Provide your quote and confirm installation date
- Complete the loan application
- Get your solar installed once approved
Frequently Asked Questions
Can I use the BNZ Green Loan for solar batteries?
Yes. The loan covers solar panels, batteries, inverters, and all related installation costs.
Do I need to be an existing BNZ customer?
You need to have your home loan with BNZ. If you’re with another bank, you can transfer your mortgage to BNZ to access the green loan.
What if I want to pay off the loan early?
Early repayment fees may apply. Check with BNZ for current terms.
Is Sunshine Solar an eligible installer?
Yes. Sunshine Solar is a SEANZ member and approved installer for all major bank green loan programmes.
Ready to Apply?
Get Your Free Solar Quote
We’ll provide everything you need for your BNZ Green Home Loan application.
Have questions? Contact our team — we’ve helped thousands of Kiwis finance their solar installations.