Best Home Loan (& Refinance) Cashback Offers (April 2024)

Compare home loan refinance offers ranging between $1,000 - $3,000 or more in cashback.

Written byMegan BirotReviewed byMansour Soltani

Last updated18 April 2024

This table shows the owner occupier home loans offering cashback with the lowest interest rates. Rates shown are based on a borrower making principal and interest repayments.

	BOQ - Owner Occupied Fixed Special Offer
Cashback deal	Up to $2,000 cashback
Offer conditions	$250K min loan amount Max LVR of 80% Eligible external refinancers only
Lowest interest rate	5.79% p.a. (discounted 3-year fixed rate)
Lowest comparison rate	6.34% p.a.
	Police Bank
Cashback deal	Up to $2,000 cashback
Offer conditions	$300K min loan amount Max LVR of 95% Eligible external refinancers only (Closes 30 June 2024)
Lowest interest rate	5.79% p.a., fixed for 3 years 5.99% p.a., fixed for 2 years
Lowest comparison rate	6.76% p.a. (3-year fixed) 6.91% p.a. (2-year fixed)
	Greater Bank - Great Rate Home Loan
Cashback deal	Up to $2,000 cashback for loans >$250K loans or $3,000 for loans >$500K
Offer conditions	$250K min loan amount Max LVR of 80% Available on owner-occupied & investment home loans (Closes 31 May 2024)
Lowest interest rate	5.94% p.a. variable
Lowest comparison rate	5.95% p.a.
	Reduce Home Loans - Home Owners Dream Fixed Cash Back
Cashback deal	Up to $2,000 cashback for loans >$500K loans & up to $10,000 cashback for loans >$2million
Offer conditions	$250K min loan amount Max LVR of 80% or 70% for higher loan amounts Available for first-home buyers & external refinancers (Closes 30 June 2024)
Lowest interest rate	5.99% p.a., fixed for 3 years
Lowest comparison rate	6.29% p.a.

Cashback deal
Offer conditions
Lowest interest rate	5.99% p.a., fixed for 2 years
Lowest comparison rate
	Newcastle Permanent Building Society - Real Deal Home Loan
Cashback deal	Up to $3,000 cashback
Offer conditions	$250K min loan amount Max LVR of 80% Eligible external refinancers only
Lowest interest rate	6.04% p.a. variable
Lowest comparison rate	6.08% p.a.
	RAMS - Essential Home Loan
Cashback deal	Up to $3,000 cashback
Offer conditions	$250K min loan amount Max LVR of 70-80% Must settle within 120 days Eligible external refinancers only
Lowest interest rate	6.09% p.a. variable
Lowest comparison rate	6.16% p.a.
	RAMS - Essential Home Loan
Cashback deal	Up to $1,000 cashback (first-home buyer offer)
Offer conditions	$250K min loan amount Max LVR of 70-80% Must settle within 120 days Eligible first-home buyers
Lowest interest rate	6.09% p.a. variable
Lowest comparison rate	6.16% p.a.
	Newcastle Permanent Building Society - Premium Plus Package Variable
Cashback deal	Up to $3,000 cashback
Offer conditions	$250K min loan amount Max LVR of 80% Eligible external refinancers only
Lowest interest rate	6.09% p.a. variable
Lowest comparison rate	6.43% p.a.
	Greater Bank - Ultimate Home Loan
Cashback deal	Up to $2,000 cashback for loans >$499K loans or $3,000 for loans >$500K
Offer conditions	$250K min loan amount Max LVR of 80% Available on owner-occupied & investment home loans
Lowest interest rate	6.13% p.a. variable
Lowest comparison rate	6.50% p.a.
	ME - Basic Home Loan
Cashback deal	Up to $2,000 cashback for loans >$400K loans or $3,000 for loans >$700K
Offer conditions	$400K min loan amount Max LVR of 80% Must settle within 120 days Eligible external refinancers only
Lowest interest rate	6.17% p.a. variable
Lowest comparison rate	6.19% p.a.
	ME - Flexible Home Loan (Members Package)
Cashback deal	Up to $2,000 cashback for loans >$400K loans or $3,000 for loans >$700K
Offer conditions	$400K min loan amount Max LVR of 80% Must settle within 120 days Eligible external refinancers only
Lowest interest rate	6.24% p.a. variable
Lowest comparison rate	6.63% p.a.
	BankSA - Basic Home Loan
Cashback deal	Up to $2,000 cashback
Offer conditions	$200K min loan amount Max LVR of 80% Eligible external refinancers only
Lowest interest rate	6.29% p.a. variable
Lowest comparison rate	6.30% p.a.
	St. George - Basic Variable Home Loan
Cashback deal	Up to $2,000 cashback
Offer conditions	$250K min loan amount Max LVR of 70-80% Must settle within 120 days Eligible external refinancers only
Lowest interest rate	6.29% p.a. variable
Lowest comparison rate	6.30% p.a.
	BOQ - Clear Path Variable Home Loan
Cashback deal	Up to $2,000 cashback
Offer conditions	$250K min loan amount Max LVR of 80% Available for first-home buyers and external refinancers
Lowest interest rate	6.39% p.a. variable
Lowest comparison rate	6.51% p.a.
	BankSA - Fixed Rate Home Loan
Cashback deal	Up to $2,000 cashback
Offer conditions	$200K min loan amount Max LVR of 80% Eligible external refinancers only
Lowest interest rate	6.49% p.a., fixed for 2 years
Lowest comparison rate	7.54% p.a.
	St. George - Fixed Rate Home Loan (Advantage Package)
Cashback deal	Up to $2,000 cashback
Offer conditions	$250K min loan amount Max LVR of 70-80% Must settle within 120 days Eligible external refinancers only
Lowest interest rate	6.49% p.a., fixed for 2 years
Lowest comparison rate	7.54% p.a.
	ANZ First Home Buyer Bonus - Basic Variable Home Loan
Cashback deal	Up to $3,000 cashback (first-home buyer offer)
Offer conditions	$250K min loan amount Max LVR of 80% Drawdown must occur within 180 days of applying
Lowest interest rate	6.54% p.a. variable
Lowest comparison rate	6.54% p.a.
	ANZ - Basic Variable Home Loan
Cashback deal	Up to $2,000 cashback
Offer conditions	$250K min loan amount Max LVR of 80% Must settle within 120 days Eligible external refinancers only
Lowest interest rate	6.54% p.a. variable
Lowest comparison rate	6.54% p.a.
	ANZ - Basic Fixed Rate Home Loan
Cashback deal	Up to $2,000 cashback
Offer conditions	$250K min loan amount Max LVR of 80% Must settle within 120 days Eligible external refinancers only
Lowest interest rate	6.54% p.a., 2-year intro fixed rate
Lowest comparison rate	7.10% p.a.
	RAMS - Fixed Rate Classic Home Loan
Cashback deal	Up to $3,000 cashback
Offer conditions	$250K min loan amount Max LVR of 70-80% Must settle within 120 days Eligible external refinancers only
Lowest interest rate	6.59% p.a., fixed for 2 years
Lowest comparison rate	6.60% p.a.
	St. George - Standard Variable Rate Home Loan (Advantage Package)
Cashback deal	Up to $2,000 cashback
Offer conditions	$250K min loan amount Max LVR of 70-80% Must settle within 120 days Eligible external refinancers only
Lowest interest rate	7.39% p.a. variable
Lowest comparison rate	7.73% p.a.
	RAMS - Full Feature Home Loan
Cashback deal	Up to $3,000 cashback
Offer conditions	$250K min loan amount Max LVR of 70-80% Must settle within 120 days Eligible external refinancers only
Lowest interest rate	8.56% p.a.
Lowest comparison rate	8.63% p.a.

	Cashback deal	Offer conditions	Lowest interest rate	Lowest comparison rate
BOQ - Owner Occupied Fixed Special Offer	Up to $2,000 cashback	$250K min loan amount Max LVR of 80% Eligible external refinancers only	5.79% p.a. (discounted 3-year fixed rate)	6.34% p.a.
Police Bank	Up to $2,000 cashback	$300K min loan amount Max LVR of 95% Eligible external refinancers only (Closes 30 June 2024)	5.79% p.a., fixed for 3 years 5.99% p.a., fixed for 2 years	6.76% p.a. (3-year fixed) 6.91% p.a. (2-year fixed)
Greater Bank - Great Rate Home Loan	Up to $2,000 cashback for loans >$250K loans or $3,000 for loans >$500K	$250K min loan amount Max LVR of 80% Available on owner-occupied & investment home loans (Closes 31 May 2024)	5.94% p.a. variable	5.95% p.a.
Reduce Home Loans - Home Owners Dream Fixed Cash Back	Up to $2,000 cashback for loans >$500K loans & up to $10,000 cashback for loans >$2million	$250K min loan amount Max LVR of 80% or 70% for higher loan amounts Available for first-home buyers & external refinancers (Closes 30 June 2024)	5.99% p.a., fixed for 3 years	6.29% p.a.
			5.99% p.a., fixed for 2 years
Newcastle Permanent Building Society - Real Deal Home Loan	Up to $3,000 cashback	$250K min loan amount Max LVR of 80% Eligible external refinancers only	6.04% p.a. variable	6.08% p.a.
RAMS - Essential Home Loan	Up to $3,000 cashback	$250K min loan amount Max LVR of 70-80% Must settle within 120 days Eligible external refinancers only	6.09% p.a. variable	6.16% p.a.
RAMS - Essential Home Loan	Up to $1,000 cashback (first-home buyer offer)	$250K min loan amount Max LVR of 70-80% Must settle within 120 days Eligible first-home buyers	6.09% p.a. variable	6.16% p.a.
Newcastle Permanent Building Society - Premium Plus Package Variable	Up to $3,000 cashback	$250K min loan amount Max LVR of 80% Eligible external refinancers only	6.09% p.a. variable	6.43% p.a.
Greater Bank - Ultimate Home Loan	Up to $2,000 cashback for loans >$499K loans or $3,000 for loans >$500K	$250K min loan amount Max LVR of 80% Available on owner-occupied & investment home loans	6.13% p.a. variable	6.50% p.a.
ME - Basic Home Loan	Up to $2,000 cashback for loans >$400K loans or $3,000 for loans >$700K	$400K min loan amount Max LVR of 80% Must settle within 120 days Eligible external refinancers only	6.17% p.a. variable	6.19% p.a.
ME - Flexible Home Loan (Members Package)	Up to $2,000 cashback for loans >$400K loans or $3,000 for loans >$700K	$400K min loan amount Max LVR of 80% Must settle within 120 days Eligible external refinancers only	6.24% p.a. variable	6.63% p.a.
BankSA - Basic Home Loan	Up to $2,000 cashback	$200K min loan amount Max LVR of 80% Eligible external refinancers only	6.29% p.a. variable	6.30% p.a.
St. George - Basic Variable Home Loan	Up to $2,000 cashback	$250K min loan amount Max LVR of 70-80% Must settle within 120 days Eligible external refinancers only	6.29% p.a. variable	6.30% p.a.
BOQ - Clear Path Variable Home Loan	Up to $2,000 cashback	$250K min loan amount Max LVR of 80% Available for first-home buyers and external refinancers	6.39% p.a. variable	6.51% p.a.
BankSA - Fixed Rate Home Loan	Up to $2,000 cashback	$200K min loan amount Max LVR of 80% Eligible external refinancers only	6.49% p.a., fixed for 2 years	7.54% p.a.
St. George - Fixed Rate Home Loan (Advantage Package)	Up to $2,000 cashback	$250K min loan amount Max LVR of 70-80% Must settle within 120 days Eligible external refinancers only	6.49% p.a., fixed for 2 years	7.54% p.a.
ANZ First Home Buyer Bonus - Basic Variable Home Loan	Up to $3,000 cashback (first-home buyer offer)	$250K min loan amount Max LVR of 80% Drawdown must occur within 180 days of applying	6.54% p.a. variable	6.54% p.a.
ANZ - Basic Variable Home Loan	Up to $2,000 cashback	$250K min loan amount Max LVR of 80% Must settle within 120 days Eligible external refinancers only	6.54% p.a. variable	6.54% p.a.
ANZ - Basic Fixed Rate Home Loan	Up to $2,000 cashback	$250K min loan amount Max LVR of 80% Must settle within 120 days Eligible external refinancers only	6.54% p.a., 2-year intro fixed rate	7.10% p.a.
RAMS - Fixed Rate Classic Home Loan	Up to $3,000 cashback	$250K min loan amount Max LVR of 70-80% Must settle within 120 days Eligible external refinancers only	6.59% p.a., fixed for 2 years	6.60% p.a.
St. George - Standard Variable Rate Home Loan (Advantage Package)	Up to $2,000 cashback	$250K min loan amount Max LVR of 70-80% Must settle within 120 days Eligible external refinancers only	7.39% p.a. variable	7.73% p.a.
RAMS - Full Feature Home Loan	Up to $3,000 cashback	$250K min loan amount Max LVR of 70-80% Must settle within 120 days Eligible external refinancers only	8.56% p.a.	8.63% p.a.

Rates are current as of 01 April 2024. ^Disclaimer: While this is an extensive list of the best cashback offers in Australia, we can't guarantee that all available offers are shown. Cashback offers may be withdrawn at any time. Comparison rates are calculated based on a loan amount of $150,000 over a 25-year term (variable rate) with an <80% LVR. Different loan amounts and terms will result in different comparison rates and offers. Check with the provider for full loan details, including rates, fees, eligibility and terms and conditions to ensure the product is right for you.

Reduce Home Loans — $2,000 - $10,000 cashback

First-home buyers who qualify can receive up to $2,000 - $10,000 cashback with a Reduce Home Loan. The cashback amount is based on your home loan amount:

$250,000 - $499,999: $2,000
$500,000 - $749,999: $3,000
$750,000 - $1,999,999: $5,000
$2,000,000+: $10,000.

To be eligible, you must submit your loan application between January 1, 2024, and June 30, 2024. Available for home loans with a maximum 90% LVR. Cashback is paid within 30 days of settlement.

You must keep the loan for at least 24 months after settlement, otherwise the cashback amount will need to be repaid. It will be added to the total balance payable upon discharge or refinancing.

ANZ First Home Buyer Bonus — $3,000 cashback

Eligible first-home buyers can get $3,000 cashback with an ANZ home loan of $250,000 or more. You must have an ANZ Access Advantage, ANZ Plus or ANZ One offset account at loan drawdown (which must occur within 180 days of applying). Bonus is paid after settlement.

Bank of Queensland (BOQ) — $2,000 cashback

Eligible first-home buyers can get $2,000 cashback with a BOQ home loan of $250,000 or more. A maximum 90% LVR applies and settlement must be within 120 days. This offer is available on owner-occupier home loans with principal & interest repayments only.

RAMS — $1,000 cashback

Eligible first-home buyers can get $1,000 cashback on loan applications over $250,000. Settlement must be within 120 days. The rebate will be automatically deposited into your RAMS home loan account within 60 days after settlement.

$1 LMI offer replaced with First Home Guarantee Scheme

Westpac subsidiaries such as St George, BankSA, and Bank of Melbourne previously reduced LMI to $1 for eligible first-home buyers with a minimum 15% deposit. They’ve discontinued these offers after becoming participating lenders in the First Home Guarantee Scheme. This national program supports eligible first-home buyers to buy a home with a deposit starting from 5%.

What you need to know about refinance home loan cashback offers

Home loan cashback deals are incentives some lenders and banks offer on select products to attract new customers. Currently, the majority of home loan cashback offers are for refinance home loans (people who already have a loan and are switching to a new lender), although some lenders extend those offers to first-home buyers.

These promotional offers can range from $1,000 to $3,000 or more depending on the lender and your loan amount. Cashback deals are usually a lump sum deposited into your transaction account (after the new mortgage is settled), or can come as gift cards or rebates towards home loan fees.

While many banks have phased out refinance cashback offers because they were eroding profit margins and not encouraging customer loyalty, some lenders are still offering them.

Here are some key points about home loan cashback offers to consider before signing up.

Cashback offers are limited to specific borrowers

Cashback offers are usually available to eligible refinancers, including owner-occupier and investment loans. But, select lenders also offer cashback on loans for first-home buyers. Some deals may also only apply to particular loan products like variable rate home loans or package loans.

Cashback deals are for new customers only

Lenders usually make it so only new customers can get the cashback. So, if you’re refinancing a loan with the same lender (or even within the same network of lenders), you might not get any cashback.

There’s a minimum loan amount and loan-to-value ratio (LVR)

There are eligibility criteria for cashback offers, such as:

the type of loan you apply for
the minimum loan amount (usually $200,000 or more)
the minimum loan term
the loan-to-value ratio (this is your loan amount shown as a percentage of the value of your property). Most lenders require you to have less than 80% LVR; some may even do tiered cashback where the sign-up bonus amount is higher for borrowers with a bigger loan.

Cashback offers have an expiry date

Cashback offers usually come with an expiration date. Generally, the home loan must be finalised (settled) by the lender’s specified deadline to qualify for the benefit — usually within 120 days of applying.

You can use the cashback for any purpose

In many cases, once the lender has paid out the cashback, it’s up to you how you want to spend it. This means you could use the funds to cover moving costs if you’re refinancing as part of a move, to renovate your home, or simply to save on interest by making a one-off lump sum repayment on your home loan or stash it in your offset account.

Terms and conditions apply

Watch out for any other small print in the cashback offer. This might include requirements like remaining with the lender for a specified period of time after receiving the cashback or having to open a linked transaction account to be eligible.

Reward point offers

This kind of perk is more commonly associated with rewards credit cards, but a relatively new innovation in the home loan market is lenders offering points to customers who sign up. Qantas Money is the most prominent provider doing this.

Discounted interest rates

With some lenders, a discounted interest rate is the carrot being dangled in front of refinancers. The catch is generally that the lower rate is for a limited period only. Some providers offer refinancers an ongoing discount that applies progressively as you pay off the loan (i.e. every year you get a small discount on your interest rate). Unloan (a digital only lender backed by CommBank) and Athena Home Loans are among the Australian lenders with this kind of offer.

Waived home loan fees

Additionally, there are lenders in the market who will genuinely waive all fees on select home loans products to attract new customers. These are usually online lenders such as Unloan and Athena Home Loans who advertise no application fees, no ongoing fees and no discharge fees. Based on analysis by Money.com.au, a borrower could save up to $15,000 on a 30-year mortgage if all fees (including annual package fees) were waived.

LMI waiver for professionals

Some banks and lenders have an LMI waiver for professionals in certain secure or high-paying industries. This typically includes legal and healthcare practitioners, finance and accounting professionals, etc. You may have to be a member of your industry's peak body or authority (e.g. Australian Medical Association) to apply. ANZ, NAB, and Westpac are among the lenders that offer an LMI waiver for professionals.

Is a cashback deal on a home loan better than refinancing to a low rate?

In almost any case, a lower rate will save you more over the life of your loan than a one-time benefit like cashback, according to our home loans expert.

“Compare the monthly repayments between the cashback lender and a lender offering a more competitive rate but without cashback. Consider how many years it would take to offset the cash bonus. If it's under 2-3 years, the lower rate is always a better option.”

Mansour Soltani, Money.com.au's home loan expert

	Loan amount
Refinancing with no cashback and a lower rate	$800,000
Refinancing with cashback and a higher rate	$800,000
	Interest rate
Refinancing with no cashback and a lower rate	6.00%
Refinancing with cashback and a higher rate	6.25%
	Cashback
Refinancing with no cashback and a lower rate	No cashback
Refinancing with cashback and a higher rate	$2,000 cashback
	Loan term
Refinancing with no cashback and a lower rate	25 years
Refinancing with cashback and a higher rate	25 years
	Monthly repayments
Refinancing with no cashback and a lower rate	$5,154
Refinancing with cashback and a higher rate	$5,277 ($123+ in monthly repayments)
	Establishment fee
Refinancing with no cashback and a lower rate	$350
Refinancing with cashback and a higher rate	$350
	Discharge fee
Refinancing with no cashback and a lower rate	$395
Refinancing with cashback and a higher rate	$395
	Months it would take to offset cashback
Refinancing with no cashback and a lower rate	Nil
Refinancing with cashback and a higher rate	10 months

	Refinancing with no cashback and a lower rate	Refinancing with cashback and a higher rate
Loan amount	$800,000	$800,000
Interest rate	6.00%	6.25%
Cashback	No cashback	$2,000 cashback
Loan term	25 years	25 years
Monthly repayments	$5,154	$5,277 ($123+ in monthly repayments)
Establishment fee	$350	$350
Discharge fee	$395	$395
Months it would take to offset cashback	Nil	10 months

Note: This is a general comparison and does not include all fees or charges that may apply.

Pros	Provide upfront savings to refinancers and can pay for switching costs
Cons	Cashback home loans may have uncompetitive rates and fees
Pros	Funds/perks can be spent on virtually anything
Cons	Strict eligibility criteria apply (not all borrowers qualify)
Pros	Can incentivise borrowers to shop around for a better rate
Cons	Only available from select lenders and not always on the most competitive products

Pros	Cons
Provide upfront savings to refinancers and can pay for switching costs	Cashback home loans may have uncompetitive rates and fees
Funds/perks can be spent on virtually anything	Strict eligibility criteria apply (not all borrowers qualify)
Can incentivise borrowers to shop around for a better rate	Only available from select lenders and not always on the most competitive products

Are home loan refinance cashback offers worth it?

Cashback deals can be an attractive option for refinancers to offset the costs of refinancing, but can end up costing you more in the long term if you set and forget your home loan. Cashback incentives encourage you to sign up for a loan for the upfront benefit, but it’s often less competitive than what you could get elsewhere.

It's important to consider your loan's long-term value and the interest rate, fees and loan features combined. A higher interest rate, for example, will likely cancel out the cashback before long, sometimes within just a few months. A slightly lower interest rate might save you more money over the life of the loan compared to a one-time cashback offer.

Home loan cashback deals: What to watch out for

Here’s what to think about when considering any cashback offer:

Is the interest rate on the cashback home loan more competitive than the rate on your current loan?
What fees are involved (e.g. discharge fees, application fee for the new loan)? Make sure the fees and charges to set up the loan don’t eat away at most of the cashback.
Does the cashback home loan come with the right features (e.g. offset and redraw) and is it structured to suit your financial situation and goals?
Can you negotiate a lower interest rate or better loan terms with your existing lender without switching? If you're currently paying more than the average mortgage interest rate, your lender should be able to offer you a discount.
Do you have at least 20% equity in your home? If not, you may not qualify for a cashback. Consider that if your LVR was above 80%, you’d likely be charged lender's mortgage insurance (LMI) again when refinancing which would negate any savings from the cashback.

Use our home loan calculator to estimate your mortgage repayments.

1

Find a good cashback deal

Finding the best cashback offer you qualify for is the first step. Use comparison tables for a side-by-side view of the best deals in the market or ask your mortgage broker to source some offers you qualify for. Ensure that the interest rate on the new loan is in line with other lenders not offering cashbacks. You may have some wiggle room to negotiate a lower interest rate, depending on the lender.

2

Request a mortgage discharge form (if you’re refinancing)

If you’re refinancing, you must request a mortgage discharge form from your current lender. This is used to release the security (the property) backing the home loan. After you request a discharge form, you will typically get a call from your lender's retention team. According to Mansour, if you have a competitive interest rate offer from another lender, they will usually match it to keep your business. If you’re a first-home buyer, you’ll skip this step.

3

Apply for the cashback loan

You can apply for a cashback home loan online via the lender’s website (it can take up to 20 minutes). Most banks and lenders will get you to verify your ID and sign all relevant documents online. Alternatively, a lending specialist will be touch to discuss your application in detail and ensure you qualify for the home loan product (and cashback). If you’re using a mortgage broker, they’ll handle the application process on your behalf from start to finish. In either case, you’ll be asked to submit your financial paperwork — usually two current payslips, three months of bank statements and a notice of assessment from the ATO.

4

Get your cashback

If you’re approved, the cashback will be paid into the transaction account linked to your new home loan within 30-60 days of settlement (depending on the lender). Some lenders may credit the cashback to any nominated transaction account with another bank, provided the account is in the same name(s) as the loan that qualified for the cashback offer.

Shopping around for the right loan can save you thousands of dollars in interest and fees.

What's the next step on your property journey? Our home loan guides will help you navigate the road ahead, whether you're buying, building or looking to save on an existing loan.

Best home loan cashback offers

Compare the best home loan cashback offers

This table shows the owner occupier home loans offering cashback with the lowest interest rates. Rates shown are based on a borrower making principal and interest repayments.

Cashback offers for first-home buyers (April 2024)

Reduce Home Loans — $2,000 - $10,000 cashback

ANZ First Home Buyer Bonus — $3,000 cashback

Bank of Queensland (BOQ) — $2,000 cashback

RAMS — $1,000 cashback

$1 LMI offer replaced with First Home Guarantee Scheme

What you need to know about refinance home loan cashback offers

Cashback offers are limited to specific borrowers

Cashback deals are for new customers only

There’s a minimum loan amount and loan-to-value ratio (LVR)

Cashback offers have an expiry date

You can use the cashback for any purpose

Terms and conditions apply

Other types of home loan refinance offers

Reward point offers

Discounted interest rates

Waived home loan fees

LMI waiver for professionals

Is a cashback deal on a home loan better than refinancing to a low rate?

Cashback deal vs lower rate refinance comparison

Pros & cons of home loan refinance cashback offers

Are home loan refinance cashback offers worth it?

Home loan cashback deals: What to watch out for

How to apply for a cashback home loan

1

Find a good cashback deal

2

Request a mortgage discharge form (if you’re refinancing)

3

Apply for the cashback loan

4

Get your cashback

Home Loan Types

Borrower Types

How it Works

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Written by

Senior Finance Writer

Megan Birot

Reviewed by

Home Loans Expert

Mansour Soltani

AS FEATURED IN