Thinking about buying an E-Bike? A ”green loan” might help!
For many people, buying an e-bike feels out of reach, but did you know that most major banks now offer low-interest “green loans” that include e-bikes? We often think of green loans as being just for solar panels, insulation, or energy-efficient upgrades, but they also cover electric vehicles and electric bikes.
Obviously the specifics are dependent on which bank you are with (most green loan terms cover 3 years and many banks require you to have a mortgage with them), however most banks will cover a range of items that can be deemed as sustainable including:
- A new or used e-bike (or cargo e-bike)
- Electric vehicles or chargers
- Other home energy upgrades like heat pumps and insulation.
At 1% interest, a ‘green loan’ is actually lower than inflation, so it’s almost like the bank is paying you to make a climate-friendly choice!
For more options on more affordable bike options, check out our Need a bike? post.