Bank Australia Premium Package Loan

Product Name

Bank Australia Premium Package Loan

Issuer

Bank Australia

Category

Banking

Type

Mortgage backed product

Target

Retail

Certified Since

2016

Asset Classes

Other

Markets

Australia

Investment Approaches

It Includes:

  • No inclusions5 No specific themes

It has some level of screening for:

    It fully excludes:

      Overview

      Bank Australia's mortgage products are socially and environmentally responsible and still competitive relative to the major banks. For example, prospective lending customers are assessed by the bank to ensure they are able to assume their debt obligations without suffering financial hardship, the bank invests 4% of its after tax profits in projects with a positive social and environmental impact, the bank mitigates the social and environmental impacts of its operations and screens potential loans and investments for negative social and environmental effects, for example, excluding loans to the fossil fuel industry.


      Description


      By obtaining a mortgage with Bank Australia, customers are:
      i. Assessed by the bank as able to assume their debt obligations without suffering financial hardship (reflecting this, the bank’s credit quality is class leading, with a loan delinquency rate of 0.3% in 2018).
      ii. Accessing funds which are primarily sourced from other depositors in Bank Australia (an important part of the bank’s stable, customer-owned business model).
      iii. Entrusting their repayments to a bank which is run in a responsible manner, for example, by:
      o Returning profits to its customer/owners through decreased fees and lower interest rates;
      o Ensuring that its products are socially impactful and still competitive relative to the major banks;
      o Investing 4% of its profits into socially and environmentally positive projects through the Bank Australia Impact Fund (for example, the Bank Australia Conservation Reserve);
      o Mitigating the environmental and social impacts of its operations;
      o Creating and keeping jobs in Australia; and 
      o Screening potential loans and investments with negative social and environmental effects including loans to the fossil fuel industry.

      Other products certified by the Responsible Investment Association Australasia (RIAA)

      Bank Australia Basic Home Loan

      Bank Australia Bridging Loan

      Bank Australia Line of Credit

      Bank Australia Premium Home Loan

      Bank Australia Term Deposit

      Basic Account

      Bonus Saver

      Christmas Saver

      Commercial Access

      Commercial Saver

      Community Access

      Everyday Access

      Everyday Access (additional)

      Online Saver

      Pension Access

      mySaver

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