Solar pool heating loans made simple

Low rate solar pool heating loans from
6.92% p.a. (comparison rate
9.01% p.a.)* Now that’s simple.

award winning peer-to-peer lending
award winning personal loans

Enjoy a low rate solar pool heating loan that is 100% made for you

  • We reward your good credit history with even better rates ensuring the loan you end up with has been tailored for you in every way.
  • Flexible loan terms from 3 years to 7 years for loans between $2,001 and $45,000. Use funds to consolidate debt, renovate, travel and more.
  • No early repayment fees because nobody has ever said ‘yes please’ to fees.
Low Rate Personal Loans

Getting a solar pool heating loan is as easy as 1, 2, 3.

  • the interest rate (this may be fixed or variable)
  • a one-time establishment fee
  • ongoing fees (such as account maintenance fees, late payment fees, and other charges)

You’ve got questions we’ve got answers.

What is a solar pool heating loan?

A solar pool heating loan is a form of unsecured personal loan that you can use to invest in a sustainable heating solution for your swimming pool (as well as its installation). Solar pool heating systems use rooftop ‘collectors’ to warm water that is pumped back into your pool. They require electricity only for the operation of the pump: nature (and technology) take care of the rest.

Why consider a solar pool heating loan?

A refreshing dip into a cold pool can seem like a heavenly idea during the hottest days of an Australian summer—but what about days when it’s not 40+ degrees? A solar pool heating loan will help you solve that problem by investing in a sustainable way to regulate the water temperature: you can then say hello to comfortable swimming all year round.

Importantly, heating and cooling systems (including heaters, air conditioners, and the like) are the single largest source of household greenhouse emissions. As a result, they make a sizeable contribution not only to the ecological footprint of your home, but also to your bills and expenses. A solar pool heating loan will therefore help you to save money, while also reducing the environmental impact of a heating system that makes a difference only when you’re in the water.

How does a solar pool hot water loan work?

A solar pool heating loan works just like a personal loan. That is, you borrow a specific amount of money and then pay it back with interest over an agreed term. To qualify for a personal loan, you must submit an application and agree to a credit check that takes into account your borrowing history, employment status, credit score, and other factors.

What are the benefits of a solar pool hot water loan?

Personal loans, including solar pool heating loans, allow you to enjoy a lower interest rate than you would receive with a credit card and also offer a consistent repayment schedule. Many personal loans give you the flexibility to make early repayments, allowing you to reduce the length of your loan and minimise the amount you pay in interest.

What can I use a solar pool heating loan for?

You can use a solar pool heating loan for a number of different purposes, including:

We’ll pay funds into your nominated bank account on the next business day following your loan acceptance. This gives you the flexibility to manage and pay for your green costs any way you like.

It’s important to note that not all products are eligible for a green loan (or government subsidy). Renewable energy products, such as solar pool heating systems, must meet strict standards of efficiency and performance standards. The products that are eligible for small-scale technology certificates, under the Australian Government Small-scale Renewable Energy Scheme, are listed on the Australian Government, Clean Energy Regulator (Register of solar water heaters) and must be installed in accordance with the Australian Standards.

How much does a solar pool heating loan cost?

Solar pool heating loans generally have three components that that affect the total cost over the life of the loan:

  • the interest rate (this may be fixed or variable)
  • a one-time establishment fee
  • ongoing fees (such as account maintenance fees, late payment fees, and other charges)

These costs are often combined to create a comparison rate that represents the total price of a loan. This allows you to compare different solar pool heating loans to find the one that best suits your needs.

For an overview of fees and charges (including interest rates) associated with RateSetter’s green loans, see the table below:

Personal Loan Rates, Fees & Charges
Term3 YearYear 4Year 56 Year7 Year
Loan TypeFixed Fixed Fixed Fixed Fixed
Interest Rate 6.92%



Comparison Rate*from 9.01% from 8.74% from 8.83% from 8.83% from 8.83%
Credit Assistance Feefrom
Monthly Feesfrom
Early Repayment Fees$0$0$0$0$0

*Comparison rate for 3 year loans are on an unsecured renewable energy loan of $10,000 over a 36 month term. Comparison rates for 4, 5, 6 and 7 year loans are based on an unsecured renewable energy loan of $30,0000 over a 60 month term. Comparison rates shown assume customer with an excellent credit history. Rates current as at 8pm, 17 October 2019. Warning: This comparison rate applies only to the example or examples given. Different 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.

Am I eligible for solar pool heating loan?

RateSetter provides unsecured green loans to Australian residents. Save time before applying by making sure:

  • You are aged 21 or over
  • You are an Australian citizen or permanent resident
  • You have a regular source of income that you can demonstrate
  • You have a good credit history

To see if you may qualify for a RateSetter solar pool heating loan, you can get a RateEstimate – it only takes 1 minute, and won’t affect your credit score. If you request a RateEstimate, we will ask you a few questions so we can calculate an initial estimate of your borrowing potential, and the rates, fees and charges that may apply to your loan.

In making a final decision, we consider a number of factors, including your credit file as provided to us by Equifax and/or Illion, our credit bureau partners. If you would like more information regarding your credit file, you should contact Equifax and Illion directly.

What do I need to apply?

To apply for a solar pool heating loan, you will need to complete our identity verification process successfully, as well as considering how suitable a solar pool heating loan is to your current circumstances.

To complete identity verification you will need to provide one or more of the following documents:

  • Australian State or Territory-issued drivers licence
  • Australian or foreign passport
  • Address verification document such as a utility bill or tenancy agreement

These details can either be entered on our website during the application process and automatically verified online or you can upload or email them to us at

When assessing your application, we are looking for evidence of how suitable the loan is to your current circumstances and the purpose for which you require funds. Among other things, we’ll assess your:

  • Employment stability;
  • Income;
  • Expenses;
  • Repayment history;
  • Credit bureau information; and
  • Other details you communicate to us.
newsworthy personal loans
personal loans worth talking about

Representative example: Based on $10,000 loan with a 36 month term for a borrower with a excellent credit history at a comparison rate of 6.92% p.a. the estimated total amount payable including all applicable fees is $11,458. RateSetter green loan repayment terms range from a minimum of 3 years to a maximum of 7 years. Interest rates start from 6.92% p.a. (comparison rate 9.01% p.a. to 13.96% p.a. based on your term). Rates are subject to change depending on the rates offered by lenders in our Lending Markets. Rates stated as at 8pm, 17 October 2019 and are subject to change. RateSetter credit criteria and terms and conditions apply.