Westpac's $50,000 Interest-Free Solar Loan
Updated September 2026.
Westpac’s interest-free home loan started life as the Warm Up loan in 2020. It’s now the Greater Choices home loan, with a much higher limit.
When Westpac launched its Warm Up loan in May 2020, customers could borrow up to $10,000 interest-free. Today the loan is called Greater Choices, and eligible customers can borrow up to $50,000 at 0% interest for five years. Solar power systems and batteries are both on the list of upgrades it can fund.
What the loan can pay for
Alongside solar and batteries, Greater Choices covers:
- Heat pumps, including hot water heat pumps
- Insulation, double glazing and ventilation
- Electric vehicle chargers, and fully electric vehicles
- Rainwater tanks
- Replacing household gas appliances
- Flood-resilience work such as drainage improvements
How it works
The loan is interest-free for five years, with no establishment fee. You can take out more than one Greater Choices loan as long as the total stays within $50,000, and you can make lump sum payments or pay it off early. Lump sums can only be made in branch or over the phone, not through online banking.
When you apply, you’ll need a quote from a professional installer. Before Westpac releases the funds, you’ll need to provide the invoice. The loan can’t be used for work you’ve already paid for unless Westpac agrees in advance.
Who qualifies
- You have, or are approved for, a Westpac Choices home loan with a balance of at least $150,000, not counting the Greater Choices lending.
- You’ll have at least 20% equity after the loan if you live in the property, or 30% if it’s an investment property.
- The property securing your home loan is the one being upgraded.
- Your regular main income is paid into a Westpac account.
- You can repay the loan in full within five years.
Keep the repayments in mind
Interest-free doesn’t mean cost-free. You need to clear the balance within five years, so the repayments have to suit your budget. For example, $20,000 over five years works out at roughly $333 a month. If you can’t keep up with repayments, a 5% default interest rate applies to the outstanding balance. The loan is secured against your property, and Westpac can change or withdraw the product at any time. Check the current terms with Westpac before you commit.
How Trilect Solar can help
Because Westpac requires a professional quote, it makes sense to start with your solar installer. We’ll design a system for your home, give you a written quote you can use with your application, and handle the installation. Get in touch to talk it through.
For the full criteria, see the Westpac Greater Choices home loan page.
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