EV Car Loan 5.49% p.a. (6.92% Comparison Rate) for Essential Workers or Gross Income Below $100,000 @ Commbank EV Access Program

The government just announced low interest loans for essential works or those with gross income <$100k.

Given the EV deals coming through I have no doubt this will appeal to those who are in the market for one and need to finance it.

CommBank EV Access Program

The CommBank EV Access Program offers a special rate of 5.49% p.a. (comparison rate 6.92% p.a.) on a Secured Personal Loan for eligible electric or hybrid vehicles.

Key Points

• Eligibility:

  • Essential workers: Individuals employed as teachers, instructors, medical professionals, veterinarians, government officials, or care workers, OR
  • Individuals with a gross income of $100,000 p.a. or less

• Vehicle Criteria:

  • Electric or hybrid vehicles emitting less than 120g of CO2 per kilometre
  • Price and loan amount up to $55,000