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Energy Efficiency Loans

Energy-efficient upgrades are more affordable through BankFive.

We can help you make your home more comfortable and energy-efficient year-round through our partnerships with the Mass Save® HEAT Loan program and the Rhode Island 0% Financing Program offered by National Grid. We're proud to help our Massachusetts and Rhode Island neighbors make the home energy updates and purchases they need, while positioning them to reap the benefits of long-term savings from more efficient systems.
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November 05
Fast competent service in Fall River…
Fast competent service in Fall River branch. The branch manager was accessible, clear and precise making the process for a MassSaves HEAT loan quick and painless. Moving forward with a home equity loan because of how great the HEAT loan went. This process as smooth and efficient as the first. When trying to repair the roof that it literally leaking over your head, you don't have time for a long lengthy process. Tim in Fall River understands that and gets the job done. Would highly recommend to anyone looking for good rates with confident quick service.
October 29
Jared Smith 👍🏻
I would not hesitate for a second to recommend Bank 5 and Jared Smith. He was awesome. We did not have a working heating system in our home with a new baby and he helped to expedite the process so we could get our mass save loan processed ASAP.
March 20
Heat loan was quick and as promised.
Veronica's service was top-notch!
February 19
Friendly and great loan rates
I found them while looking for a Mass Save loan for a new furnace, and ended up refinancing a HELOC too. Both transactions we're incredibly smooth and hassle free. Everyone was a pleasure to work with and the rates are great too!
November 22
My first experience with Bank5 was with…
My first experience with Bank5 was with a no-interest HEAT Loan sponsored by MASSAVE and the Utilities companies in Massachusetts. The online application process was simple and straightforward with a minimum of unnecessary paperwork. Turnaround was fairly quick. I've since applied for a HELOC to replace my existing one with another bank and, while it's more complicated because of the nature of it, has been fairly straightforward also. Everyone treated me as a valued customer right from the start.
September 29
I began with Bank5 as a result of the…great experience!
I began with Bank5 as a result of the Mass Save program while I was replacing my heating system. My loan experience was great from the beginning. The customer service was wonderful, very professional, friendly and informational. It was a very positive experience.
June 11
MassSave Loan
My wife and I went in for a MassSave Heat Loan. We worked with Timmy Lynn. He was awesome. He and his team made this process so easy! Would recommend going to see him for all your banking needs!
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For Massachusetts residents:

Qualified Massachusetts customers can receive no-interest financing through the Mass Save® HEAT Loan Program. No-interest loans are available** on qualifying energy efficiency improvements, including:
  • Mass Save Recommended Attic, Wall and Basement Insulation
  • Heating Systems 
  • Domestic Hot Water & Solar Hot Water Heaters 
  • Central Air Conditioning and Heat Pumps 
  • ENERGY STAR® Qualified Replacement Windows
  • Energy-Efficient Thermostats 
If you've already completed your home energy assessment and received your HEAT Loan Authorization Form, you can apply for your Mass Save HEAT Loan online today. If not, here's what you need to do:
  1. Call Mass Save at (866) 527-7283 to schedule your no-cost home energy assessment. Due to COVID-19, virtual home energy assessments are now being offered. Please visit for more information.
  2. Fill out the paperwork provided by your Mass Save representative and submit your documents.
  3. Receive your HEAT Loan Authorization Form and apply for your Mass Save HEAT Loan.

 *Some restrictions may apply. This offer is subject to credit approval and may be suspended or terminated at any time. Minimum loan amount is $500.00. APR refers to Annual Percentage Rate. The monthly payment would be approximately $11.90 per $1,000 borrowed based on 0.00% APR for 84 months. Trust review and recording fees ranging from $150.00 to $375.00 apply for properties held in trust. Eligible Mass Save HEAT Loan customers will need to obtain cost estimates from licensed contractors and submit them to the Home Assessment Vendor for approval.

**Loans greater than $15,000 have a minimum FICO Score requirement of 660 and maximum debt to income ratio of 45%, based on net income.

Customers must meet program eligibility requirements to participate. Eligibility for the HEAT Loan Program is based on completing a Home Energy Assessment and pre-approval. Some restrictions apply and offers are subject to change or cancellation. Financing is subject to credit approval. Additional terms and conditions apply. Visit or call 1-866-527-SAVE (7283) for details and to learn more about the program. 

For Rhode Island residents:

Qualified Rhode Island National Grid customers can receive 0% financing to install qualified high-efficiency upgrades in their homes.**

Eligible services include:
  • Insulation and air sealing
  • Duct sealing and duct installation
  • Natural gas heating systems
  • Natural gas water heaters
  • Electric heat pump water heaters
  • Electric air source heat pumps
If you've already had a home energy assessment and received your 0% Financing Authorization Form, you can apply for your loan online now. If not, here's what you need to do:
  1. Download the 0% Financing Enrollment Form (Multifamily Condo Owners please use this Enrollment Form and submit to the address listed, then apply for your loan; an energy assessment is not required for Multifamily Condo Owners).
  2. Call EnergyWise at (888) 633-7947, or visit to schedule your free home energy assessment. National Grid understands that, for many, leaving the home right now is simply not possible, so they are currently offering virtual home energy assessments. Please visit for more information.
  3. Have the energy specialist complete Section 1 of your Enrollment Form.
  4. Choose your contractor(s), then complete and submit your Enrollment Form.
  5. Receive your 0% Financing Authorization Form and apply for your loan.

**Loans greater than $15,000 have a minimum FICO Score requirement of 660 and maximum debt to income ratio of 45%, based on net income.

 BankFive NMLS #525575 • Member FDIC • Member DIF • Equal Housing Lender

  • RI Residents - How to Apply

    Download your enrollment form.

  • MA Residents - How to Apply

    A step-by-step guide to the application process.

  • MA Heating Equipment Checklist

    Download the minimum standards and requirements for heating equipment.

  • MA Insulation & Windows Checklist

    Download the minimum standards and requirements for insulation upgrades and replacement windows.

  • MA Central AC & Heat Pump Checklist

    Download the minimum standards and requirements for central air conditioners, central heat pumps, and mini-split heat pumps

  • MA Water Heater Checklist (including solar)

    Download the minimum standards and requirements for domestic hot water and solar hot water heaters.

Homeowner Resources
Learn more about home energy loans, home equity, and refinancing.