Personal loan for solar & battery
An Unsecured Personal Loan for a solar panel and battery system, or other energy-efficient upgrades could help you stay on top of your energy bills.
Why choose a Westpac Unsecured Personal Loan for solar power?
Pay your way
Match your pay day with weekly, fortnightly and monthly repayments
Get a quote in under 5 minutes
Know your repayments and get your rate, without impacting your credit score.
$0 extra repayment fee
Make extra repayments and get ahead of your personal loan#. You’re in control with Westpac.
More reasons to choose us
- Borrow up to $50,000: Choose the loan amount you want between $4k - $50k
- Loan terms to fit your budget: Set your loan term however you want between 1 - 7 years. A longer term will lower your repayment amount, a shorter term will lower the interest you pay overtime
- Same-day funding: Access your funds within an hour of accepting your contract when transferred to an existing Westpac account. *
Switching to solar? More power to you.
Upgrade your home to renewable energy with our personal loan offer and you could save time and money.
Here's how:
- Pay less interest with shorter loan term options
- Apply online today and get a 60 second response
- Enjoy a special fixed interest rate.
Existing Westpac Customers only, T&Cs apply.
Repayment calculator
This calculator helps you estimate how much your personal loan repayments could be.**
FAQs about loans for solar power
Can I get an interest-free loan for solar panels?
It’s worth checking with your relevant government authorities to see if they're offering interest-free loans for solar systems. Many interest-free offers for solar power have now closed, but it's still worth researching to find the best finance option for you. Because the solar industry continues to evolve, it's worth ensuring any sources of information you use are up-to-date.
What credit score do you need for solar?
Our Unsecured Personal Loan for solar has the same lending criteria as borrowing for something else. Our Before you apply section gives a more comprehensive outline of requirements.
Can I add solar panels to my home loan?
Some people choose to add the cost of their solar to their home loan. The benefit being they don't need to apply for another loan. However, unless you are disciplined, and repay that additional amount off in a shorter period than the rest of your home loan, you could end up paying more in interest. That's why many people choose to take out a separate loan (such as this one) for their solar system, and keep things separate. Ultimately you’ll need to do the numbers and be realistic about additional repayments.
Are solar loans tax deductible?
Many installers will be aware if any tax deductions are available for installing a solar panel system – with or without a battery – and will build it into their quote. Having said that, it's definitely worth checking for yourself with the ATO as their information will be the most up-to-date.
What's a green loan?
Green loans are personal loans that focus on lending for energy saving, electricity production or other environmentally-friendly products that help reduce our need for fossil fuels. They are still personal loans offered by financial institutions. Our Unsecured Personal Loan is a general-purpose loan with the flexibility to use the funds for green products, something else, or a combination as suits you. Like any loan, it's worth checking all the details - including interest rates and repayment terms - to see what works best for you.
Can I borrow for the solar panels now, and the battery later?
Most people researching a solar panel system will at some point decide whether they should get a battery up-front, or later on. There's no one answer to this as it'll depend on what you want from the solar system you're planning. Getting a battery at the same time as your solar panels makes it possible to 'go green' sooner, relying less on the grid and fluctuating energy prices.
However, the upfront cost of a battery will mean a bigger loan (if you're borrowing) and a longer payback period. On the other hand, battery technology is constantly improving, and some electric vehicles (EVs) can be used as a night-time battery for the house. So there are good arguments either way. In the end, if you choose to get a battery later by buying it outright, getting a separate loan for the battery, or by refinancing the loan you have for the solar panels (saving you on the loan establishment fee) when the time comes.
The details
Our Unsecured Personal Loan comes with a fixed rate, meaning that you have the certainty of a set repayment amount throughout the life of the loan. You can also make extra repayments to pay off your loan faster, giving you the best of both worlds (prepayment fee may apply#).
Key rates and fees
| Rate or fee | Amount |
|---|---|
| Annual fixed rate range | 7.99% p.a. to 20.49% p.a. |
| Comparison rate range | 9.18% p.a. to 21.61% p.a.^ |
Median rate
Around half of our customers receive the median rate or lower
|
16.99% p.a. |
| Lending establishment fee |
$250## |
| Monthly loan account fee | $12 |
Other fees and charges may be payable.
Fees that may apply
| Fee | Amount |
|---|---|
| Prepayment fee (applies if you choose a term greater than 2 years and pay it out in less than 2 years. This fee is waived if you pay out your personal loan by re-financing to another Westpac personal loan). | $175 |
| Missed payment fee | $15 |
| Bank cheque fee | $10 |
Other fees and charges may be payable.
How can I apply?
Online
Apply online in less than 10 minutes. You can use any device and return to complete your application within 14 days.
Over the phone
Apply over the phone by calling 132 651 (8am - 8pm, 7 days a week).
In person
Apply at your nearest branch.
What happens after I apply?
- You can track the status of your loan application with our Online Status Tracker.
- If we require further information to progress your application, we will contact you via phone or email.
- If conditionally approved you may need to email documents to us for verification.
- Once documentation is received and verified, you will be sent an email within 2 business days to view your contract and accept online. Note: Non-Westpac customers will be required to come into a branch to be identified after accepting their contract.
- Tell us which account you would like the funds to be sent to. Allow 1 business day for the funds to be transferred to a Westpac account and up to 3 business days for a non-Westpac account.
Before you apply
Follow this section to improve the likelihood your application is approved.
- You're aged 18 or over
- You're an Australian or New Zealand citizen OR;
- You have permanent residency in Australia and hold an acceptable visa (PDF 489KB) OR;
- You’re a non-resident or migrant and hold an acceptable visa (PDF 489KB), with a minimum 1 year before expiry
- You have a regular, verifiable Australian taxable income
- You have a fixed, verifiable residential address in Australia.
You'll be assessed on your ability to repay the money you borrow. Three things you can do to help:
- Make sure you’re meeting your current repayment obligations for
- other credit cards or loans (including lenders such as Afterpay and Zip Pay)
- rent as well as utilities such as your phone, internet and electricity.
- Check the details on your credit report are correct before applying. Head to CreditSmart.org.au and follow the links to a free credit report. More about credit reports.
- Don't make multiple applications (with us or any other lender). Every application is listed as an enquiry on your credit report. Too many can be seen as a red flag and reduce your chances of approval.
Make sure you have everything in the list below:
- Proof of identity including at least two of the following:
- Australian driver licence
- Medicare card
- Passport
- Australian birth certificate
- NSW photo card.
- Current debts in your name (e.g. home loan, personal loans, other credit or store cards as well as instalment purchases such as Afterpay and Zip Pay)
- Proof of income. If your pay doesn’t already go into a Westpac account, you’ll need to show at least one of the following:
- Two most recent consecutive payslips from your main employer that are less than 60 days old
- A Government Authority statement from the last two months confirming your pension or allowance
- Rental income proof covering the last three months
- Self-employed? You’ll need to show you’ve been in business for at least 18 months, the last two months’ business bank statements and last year’s Notice of Assessment.
- All your regular monthly expenses (including phone bills, insurances etc.)
- If you’re a tax resident of another country, you’ll need your foreign tax identification number.
If you're already a Westpac customer, you'll also need to:
- Sign into online banking to double-check your personal details (name, address etc) are up-to-date
- Apply as an existing customer in the application form
- We will have answered some of the basic questions such as personal details (name, address etc) on your application for you. Check that they’re correct.
Additional eligibility criteria or documentation may be required.
Help when you need it
Handy articles and guides
Things you should know
This information is general in nature and has been prepared without taking your objectives, needs and overall financial situation into account. For this reason, you should consider the appropriateness of the information to your own circumstances and, if necessary, seek appropriate professional advice. Please consider your individual circumstances before applying for a Westpac Personal Loan. Credit criteria, fees, charges, terms and conditions apply. Information is correct as of 10 June 2025.
##The lending establishment fee will be added to your loan amount. Please read full terms and conditions before making a decision to apply for a Westpac Personal Loan.
4. Solar + Battery Special Offer of 8.99% p.a. (comparison rate 10.17% p.a.) is available to existing customers who apply, are approved and accept an Unsecured Personal Loan contract for a loan amount of more than $10,000. Application must be submitted via the Apply now button on website page https://www.ui.westpac.com.au/origin/etb0/content/secure-pers/personal-loans/solar in branch or by calling 1300 720 697. This offer cannot be used in conjunction with any other offer and may be varied or withdrawn at any time.
^Comparison rates: Comparison rates help you understand the true cost of a loan. All comparison rate examples shown are for a personal loan amount of $30,000 and a term of 5 years. WARNING: Comparison rates apply only to the example or examples given and may not include all fees and charges. Different loan amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
- Unsecured Personal Loan repayment terms range from 1 to 7 years. Interest rate ranges and representative examples are based on an unsecured loan of $30,000 borrowed for 5 years with the interest rate of 7.99% p.a. (comparison rate 9.18% p.a.), the estimated total amount payable including fees is $37,513. The actual rate offered may be higher or lower than the comparison example above. Rates currently range from 7.99% p.a. to 20.49% p.a. (comparison rate from 9.18% p.a. to 21.61% p.a.)
#Prepayment fee: If you choose a term greater than 2 years for a Westpac Personal Loan, and pay it out in less than 2 years, there is a prepayment fee of $175. This fee is waived if you pay out your personal loan by re-financing to another Westpac personal loan.
*Access to funds within 60 minutes: Available for existing customers who are approved for an Unsecured Personal Loan. Loan funds will be disbursed into an existing Westpac transaction account 60 minutes from when e-contract acceptance has been received. Funds requested to be transferred to a non-Westpac account will take up to 3 days.
**Repayment calculator: Any calculations made by you using this calculator is intended as a guide only. It is for illustrative purposes only and is based on the accuracy of the information provided. The calculation is not an offer of credit. The amount you can borrow may vary once you complete a loan application and all the details relevant to our lending criteria are captured and verified. The calculations should not be relied on for the purpose of making a decision whether to apply for a personal loan. Weekly and fortnightly repayment calculations - if your monthly repayments are $1000, fortnightly repayments are calculated by dividing $1000 by 2 and rounding up if required ($1000/2 = $500). Weekly repayments are calculated by dividing $1000 by 4 and rounding up if required ($1000/4 = $250).
Credit provided by Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.