Energy efficient finance
Westpac is helping Australian businesses reduce their energy costs and environmental footprint by providing financial solutions for energy efficient equipment.
- Supported by a $200 million financing arrangement entered into with the Clean Energy Finance Corporation, a 0.70% p.a. discount on the interest rate which would have otherwise applied.
- Customers can choose to receive specialist advice through external energy experts Verdia, to help them design energy efficient projects.
- Choose from 3 equipment finance products - Westpac finance lease, commercial loan and commercial hire purchase
- Minimum finance amount - $15,000
- Finance could be structured over the life expectancy of the asset.
- Get certainty with fixed payments on a finance lease and commercial hire purchase, or a fixed interest rate on a commercial loan.
- Potential tax benefits - depending on the equipment finance option you choose.
There are 3 different equipment financing products^ that allow you to know exactly how much you need to pay for the life of the agreement:
- Commercial loan has fixed interest rates
- Commercial hire purchase and finance lease have fixed payments
- Residual value for finance lease or balloon for commercial hire purchase or commercial loan is available.
So which finance option suits you best?
|Finance Lease^||Commercial Loan^||Commercial Hire Purchase^|
|What is it?
||We purchase the asset at your request and rent it to you for an agreed period.||You source and own the asset and we provide a loan secured by the asset.||We purchase the asset at your request and you buy it from by paying us instalments.|
|Who owns the asset?||We do and you rent it from us.||You do and we hold security over it.||We do until all instalments have been paid at which time ownership is transferred to you.
|What is the potential tax benefit*?||The rental payments may be tax deductible.||The interest on the finance and depreciation of the asset may be tax deductible.||The interest on the finance and depreciation of the asset may be tax deductible.|
Supported by the Clean Energy Finance Corporation, a 0.70% p.a. discount on the interest rate which would have otherwise applied.
|Amount Financed||Establishment fee|
|$420,000 or less||$450.00|
|More than $420,000||0.1% of amount financed plus $30|
Things you should know
^ Conditions, fees and charges apply. These may change or we may introduce new ones in the future. Full details are available on request. Lending criteria apply to approval of credit products. This information does not take your personal objectives, circumstances or needs into account. Consider its appropriateness to these factors before acting on it. Read the disclosure documents for your selected product or service, including the Terms and Conditions or Product Disclosure Statement, before deciding. Unless otherwise specified, the products and services are available only in Australia from Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian Credit Licence 233714.