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Banking / Buy now, pay later / InstalPay

Current offers

Save up to $1,300 on a new home battery system

Upgrade your home with a Tesla Powerwall and you could enjoy an incredible $1,300 savings when you purchase through Wattle Powr1. You’ll also get a 0% p.a. interest rate on InstalPay.

Offer available between 12/11/2024 and 30/04/2025.

Find out more

Home Energy Upgrades

Unlock energy savings by electrifying your home. We work with our selected providers to make your transition an easy one.

 

Get started

At a glance

  • What you’ll get

    • No interest
    • No annual or monthly account fees
    • Borrow from $1,000 to $30,000
    • 1-5 year loan terms

  • Trade-offs

    • Single-use loan, no revolving limits or redraw available
    • Loan-term extensions not available*
    • Only available to existing CBA customers, online at participating merchants

How it works

To continue supporting customers on their home energy upgrade journey, we have launched InstalPay. CommBank customers can now select InstalPay at the Wattle Powr and Brighte checkout, to apply for an interest-free loan to finance purchases which include to buy and install home energy upgrades such as solar panels, batteries and EV chargers, from participating merchants.

Get quotes from local vendors with Brighte. You can tap into Brighte’s network of Brighte-accredited local tradies who install solar panels, home batteries and EV chargers. Simply:

  1. Logon to the Brighte Marketplace, where you can request quotes from local vendors. Vendors will contact you to discuss and book a site visit.
  2. Review and select your package online once Brighte emails you the quotes. You’ll need to be an existing CommBank customer with an eligible transaction account before you begin your InstalPay application.
  3. Select the CommBank financing solutions button when choosing your payment method in the Brighte Marketplace, continue through to the CommBank financing page and choose InstalPay.
  4. If your application for InstalPay is approved, your nominated vendor will update you on your order and book in your installation. 
  5. Once your goods are installed, you’ll receive an email from Brighte to ask you to confirm the installation has been completed and obtain acknowledgement/instruction for CommBank to make payment. CommBank will then pay Brighte on your behalf, who will pay the vendor.
  6. Your loan will be funded and you’ll then repay the loan over the loan term you’ve selected.

Benefits:

  • Price transparency
    You can easily compare multiple quotes across different vendors.
  • Wide range of options
    Enjoy the flexibility to bundle together multiple products into the one quote.
  • Extensive tradie network
    Tap into Brighte’s nationwide network of equipment vendors and accredited tradies.

Explore local installers

Wattle Powr makes buying solar and battery easy, managing the process from start to end, including your rebates, as well as offering reputable products and installers accredited with Solar Accreditation Australia~. Simply:

  1. Request a quote from Wattle Powr and receive an email once it's ready.
  2. Review your quote online and proceed to order.
  3. Select InstalPay at checkout and apply. You must have access to NetBank or the CommBank app as well as an eligible CommBank transaction account.
  4. If approved, Wattle Powr will update you on your order and installation.
  5. Once installed, CommBank will pay Wattle Powr, and you'll repay the loan in equal monthly instalments.

Benefits:

  • Quick and convenient
    Get an instant quote with no need to compare multiple vendors.
  • A smooth online experience
    Completely online, from the initial quote to financing and installation.
  • Expert Support
    Be guided at every step, from initial consultation to installation and maintenance.

Get a quote

Features & benefits

    • Spread the cost of your purchase over time and pay no interest and no annual or monthly fees
    • Choose a loan term that suits your lifestyle
    • Know when you’ll pay off your loan with fixed repayments
    • Apply online in minutes at the time of purchase

Fees & charges    

Type
Amount
When payable
Late payment fee
$20
A late payment fee applies for a missed repayment.

FAQs

InstalPay is available to existing CommBank customers who meet our eligibility criteria and who satisfy credit assessments. To apply, you’ll need access to NetBank or the CommBank app and you must have an eligible CommBank transaction account.

You must have a linked CommBank transaction account for repayments. Eligible CommBank transaction accounts include:

  • Cash Investment Account
  • Cash Management Call Account
  • Complete Access
  • Everyday Offset
  • Pensioners Security Account
  • Private Banking Account
  • Smart Access
  • Streamline Basic Account

If you’re not an existing CommBank customer and you’d like to apply for InstalPay, simply visit your nearest branch to get set up. Applications for InstalPay are subject to credit approval. 

CommBank is remunerated for InstalPay via a merchant service fee, a transaction fee that each merchant pays CommBank when a customer makes a purchase using InstalPay. Under our agreement with merchants, merchants are not able to pass this fee on to customers. This means CommBank can offer InstalPay to customers with no interest and no upfront or monthly account fees.

There are late fees if you don’t repay on time, and standard fees apply to your linked repayment account.

Your monthly repayment is simply the loan amount divided by the loan term. You pay no interest and no monthly or annual fees. For example: If you borrow $10,000 over a two-year loan term, your monthly repayment is $10,000 divided by 24 months = $416.67 (rounded up). It’s that simple.

Yes, you can make extra repayments or pay out your loan early without charge or penalty anytime via NetBank or the CommBank. Extra repayments aren’t available for redraw and will reduce your monthly repayment obligation for future payments. 

You can always resume your application for InstalPay via NetBank under ‘My applications’. Otherwise, you can return to the merchant checkout, select InstalPay and start the application again. 

If approved, we’ll pay the merchant directly the amount of your purchase and then debit your InstalPay loan account. You’ll then pay us what you owe in monthly instalments over the agreed term. 

We’ll let you know on the spot. At this point you’ll be redirected back to the merchant checkout page, where you can select another payment option if you wish to proceed with your purchase. 

If you have any questions or concerns regarding the goods and services you buy using InstalPay, you’ll need to contact the merchant directly. Using InstalPay to pay for your purchase won’t affect any rights you may have under applicable consumer protection laws. If you have concerns related to your InstalPay application or loan account, contact us. 

Both Wattle Powr and Brighte’s vendor networks are New Energy Tech Approved (NETCC) and their installers are Solar Accreditation Australia (SAA) accredited.

Things you should know

  • ~Offer only available on Tesla Powerwall 3. To qualify, battery must be purchased with Wattle Powr between 12/11/2024 and 31/03/2025. All quotes will expire within 30 days of issue. Wattle Powr only operates in NSW, ACT, VIC, metropolitan Perth and Adelaide, and South East QLD. Discount will be honoured if installation date is after offer end date. Discount will apply at Wattle Powr's checkout online. Tesla Powerwall Warranty (Australia and New Zealand) applies and is available here.

    ^Eligible CommBank transaction accounts include: Cash Investment Account, Cash Management Call Account, Complete Access, Everyday Offset, Pensioners Security Account, Private Banking Account, Smart Access, Streamline Basic Account. 

    ~To find out more about Solar Accreditation Australia, visit https://saaustralia.com.au/about-us/

    * Loan term extensions are not available. A longer term means your repayments will be smaller. And there's no charge for making extra repayments or paying out early.

    InstalPay has a maximum loan term of five years. If you’re looking for an option with a longer term, explore our Loans for energy-efficient purchases guide. If you have a home loan with us, you may be eligible for a CommBank Green Loan attached to your existing home loan, which has a 10-year term.

    InstalPay is only available online. You’ll receive your documents digitally, including Contract Schedule and InstalPay Terms and Conditions and all communications in relation to the product will be delivered via Email, NetBank or the CommBank app.

    Applications are subject to the Bank’s lending criteria and credit approval. View the InstalPay Terms and Conditions. Full terms and conditions will be included in our loan offer. Fees and charges may apply.

    The information on this website has been prepared without considering your objectives, financial situation or needs. You should, before acting on the advice, consider its appropriateness to your circumstances.

    Brighte

    ‘Brighte’ is Brighte Capital Pty Limited (ABN 74 609 165 906). Brighte hosts and manages the Brighte Marketplace. Brighte selects the vendors that may be presented on the platform and facilitates the interactions with vendors on the platform, including listing the products, quoting and installations services provided by the vendors. 

    CommBank

    ‘CommBank’ refers to Commonwealth Bank of Australia ABN 48 123 123 124. Australian credit licence 234945. The platform is for CommBank customers to help them with their home electrification needs. Home energy upgrade suggestions, products, vendor referrals and quotes on this platform and installation services are not conducted or provided by CommBank.

    CommBank is not authorised and does not make any assertions or recommendations about reduced consumption from non-renewable energy sources through energy-efficient product installations. Advice and further information should be sought from relevant certified industry professionals. 

    CommBank receives a fee from Brighte in connection with finance provided by CommBank for a home energy package purchased via Brighte’s Marketplace.

    The target market for these products will be found within the product’s Target Market Determination, available here.