Finance Options

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Bank Financing

Most of the major banks offer “green home loans”.

The low interest rates available mean you can be enjoying the benefits of a hot water heat pump right now.

ANZ Better Homes Top Up

1% PA fixed rate for 3 years, up to $80,000

ASB Better Homes Top Up

1% PA fixed rate for 3 years, up to $80,000

BNZ Green Home Loan Top Ups

1% PA fixed rate for 3 years, up to $80,000

Westpac Warm Up Loan

0% fixed rate for 5 years, up to $50,000

Other Financing

Interest Free Terms Available*
Lending Criteria. $50 annual account fee, fees, Ts&Cs apply.

*Standard Interest Rate of 28.5% p.a. applies to outstanding balance at the end of LTF interest free period.

How Much Money Can You Save?

Since heating water makes up about a third of your household’s power bill, upgrading to a hot water heat pump is one of the most effective ways to cut energy costs. These systems are designed to use significantly less electricity than traditional electric or gas water heaters, which translates to major savings over time.

Long-Term Value

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While the upfront cost of a hot water heat pump is higher—starting from around $6k installed - the reduced energy use makes it a cost-effective investment. Over ten years, the total cost of buying and running a heat pump system is estimated to be 27% cheaper than sticking with a traditional electric hot water cylinder or 21% cheaper than a gas instant system.

Total estimated cost over 10 years

Bar chart comparing 10-year total costs: hot water heat pump vs electric cylinder vs gas continuous flow (incl. higher gas price scenario)

Types of heating

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Frequently Asked Questions

Most major NZ banks (like ANZ, ASB, and Westpac) offer low-interest "green home loans." We provide you with a formal quote for your heat pump or insulation upgrade, which you then take to your bank to unlock the 1% (or 0%) interest rates.

In somecases, yes. If you are upgrading from an old electric cylinder or gas heater to a heat pump, the monthly savings on your power bill can often be similar to the monthly repayment amount of a low-interest home loan.

This depends on the specific financial product you choose. Many bank-led "green loans" allow for 100% financing with no deposit, whereas some third-party finance providers may require a small percentage upfront. We recommend talking to your bank to find out their specific options.

You can typically use green finance for any high-efficiency heating and cooling systems, including ducted heat pumps, air-to-water hydronic systems, and hot water heat pumps.

Yes. All lenders will perform a standard credit assessment and require proof of income.

Bank-led approvals for existing mortgage customers are often very fast, sometimes within 2–5 working days, provided you have our formal quote ready to submit with your application.

Finance Options