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Home loan cashback offers

Cashback is king. Get up to $4,000 for refinancing.

$
years
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1 - 20 of 27
Name Finder Score Interest Rate p.a. Comparison Rate p.a. Fees Monthly Payment
IMB logo
Principal & Interest20% min. depositOwner-occupier
IMB logo
Principal & Interest20% min. depositOwner-occupier
Product NameIMB Budget Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.04%
Comp. Rate p.a.6.07%
Minimum Loan Amount$10,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan Portable
Extra Repayments Yes
Finder score
Interest Rate
6.04%
Comparison Rate
6.07%
Fees
Application: $449
Ongoing: $0 p.a.
Monthly Payment
$3,617
Up to $4K cashback
Eligible borrowers can get up to $4,000 cashback when buying or refinancing with IMB. Loan value criteria applies. Other terms and conditions also apply.
IMB logo
Principal & Interest 2Y Fixed5% min. depositOwner-occupier
IMB logo
Principal & Interest 2Y Fixed5% min. depositOwner-occupier
Product NameIMB Fixed Rate Home Loan
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.5.69%
Comp. Rate p.a.6.28%
Minimum Loan Amount$10,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 95%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionYes
Loan Portable
Extra Repayments Yes
Finder score
Interest Rate
5.69%
Comparison Rate
6.28%
Fees
Application: $449
Ongoing: $6 per month
Monthly Payment
$3,483
Up to $4K cashback
Eligible borrowers can get up to $4,000 cashback when buying or refinancing with IMB. Loan value criteria applies. Other terms and conditions also apply.
ANZ logo
Principal & Interest20% min. depositOwner-occupierOffset account
ANZ logo
Principal & Interest20% min. depositOwner-occupierOffset account
Product NameANZ Plus Home Loan Variable Rate
Interest Rate TypeVariable
Repayment Type Principal & Interest
Interest Rate p.a.6.09%
Comp. Rate p.a.6.10%
Minimum Loan Amount$10,000
Maximum Loan Amount $2,000,000
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityNo
Fixed Interest OptionNo
Loan Portable
Extra Repayments Yes
Finder score
Interest Rate
6.09%
Comparison Rate
6.10%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$3,636
$2,000 cashback
Borrowers refinancing $250k or more to ANZ Plus before 31st March 2025 could get a cashback of $2,000. Excl. refinancers from ANZ or Suncorp. Other terms and conditions apply.
ME logo
Principal & Interest 3Y Fixed20% min. depositOwner-occupier
ME logo
Principal & Interest 3Y Fixed20% min. depositOwner-occupier
Product NameME Flexible Home Loan Fixed with Members Package
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.5.69%
Comp. Rate p.a.6.50%
Minimum Loan Amount$40,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionYes
Loan Portable
Extra Repayments Yes
Finder score
Interest Rate
5.69%
Comparison Rate
6.50%
Fees
Application: $0
Ongoing: $395 p.a.
Monthly Payment
$3,483
Contact Broker
$2-$3,000 cashback
Eligible new purchasers can get $2,000 cashback for loans of at least $400k. Eligible refinancers switching to ME Bank can get $3,000 cashback for loans of at least $700k. Other conditions apply.
Greater Bank logo
Principal & Interest-10% min. depositOwner-occupierNSW, QLD & ACT only
Greater Bank logo
Principal & Interest-10% min. depositOwner-occupierNSW, QLD & ACT only
Go to site
Product NameGreater Bank Great Rate Discount Variable Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.5.99%
Comp. Rate p.a.6%
Minimum Loan Amount$150,000
Maximum Loan Amount N/A
Maximum Loan Term
Maximum LVR 110%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan Portable
Extra Repayments Yes
Finder score
Interest Rate
5.99%
Comparison Rate
6%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$3,598
Go to site
Up to $2,500 cashback
Eligible refinancers can get up to $2,500 cashback depending on loan value. Full terms and conditions apply.
BankVic logo
Principal & Interest 2Y Fixed10% min. depositOwner-occupier
BankVic logo
Principal & Interest 2Y Fixed10% min. depositOwner-occupier
Product NameBankVic Fixed Home Loan
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.5.49%
Comp. Rate p.a.6.03%
Minimum Loan Amount$10,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityNo
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionYes
Loan Portable
Extra Repayments Yes
Finder score
Interest Rate
5.49%
Comparison Rate
6.03%
Fees
Application: $600
Ongoing: $0 p.a.
Monthly Payment
$3,407
Contact Broker
$2-3000 cashback
$2,000 is on offer for health workers with loans of $200k+, and $3,000 for police and emergency service workers with loans of $350k+. LVRs must be less than 80%. Terms and conditions apply.
ME logo
Principal & Interest 2Y Fixed20% min. depositOwner-occupier
ME logo
Principal & Interest 2Y Fixed20% min. depositOwner-occupier
Product NameME Flexible Home Loan Fixed with Members Package
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.5.69%
Comp. Rate p.a.6.55%
Minimum Loan Amount$40,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionYes
Loan Portable
Extra Repayments Yes
Finder score
Interest Rate
5.69%
Comparison Rate
6.55%
Fees
Application: $0
Ongoing: $395 p.a.
Monthly Payment
$3,483
Contact Broker
$2-$3,000 cashback
Eligible new purchasers can get $2,000 cashback for loans of at least $400k. Eligible refinancers switching to ME Bank can get $3,000 cashback for loans of at least $700k. Other conditions apply.
BankVic logo
Principal & Interest10% min. depositOwner-occupier
BankVic logo
Principal & Interest10% min. depositOwner-occupier
Product NameBankVic Base Variable Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.5.99%
Comp. Rate p.a.6%
Minimum Loan Amount$200,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityNo
Fixed Interest OptionNo
Loan Portable
Extra Repayments Yes
Finder score
Interest Rate
5.99%
Comparison Rate
6%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$3,598
Contact Broker
$2-3000 cashback
$2,000 is on offer for health workers with loans of $200k+, and $3,000 for police and emergency service workers with loans of $350k+. LVRs must be less than 80%. Terms and conditions apply.
ME logo
Principal & Interest 3Y Fixed20% min. depositOwner-occupierOffset account
ME logo
Principal & Interest 3Y Fixed20% min. depositOwner-occupierOffset account
Product NameME Flexible Home Loan Fixed
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.5.84%
Comp. Rate p.a.7.83%
Minimum Loan Amount$40,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityYes
Fixed Interest OptionYes
Loan Portable
Extra Repayments Yes
Finder score
Interest Rate
5.84%
Comparison Rate
7.83%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$3,540
Contact Broker
$2-$3,000 cashback
Eligible new purchasers can get $2,000 cashback for loans of at least $400k. Eligible refinancers switching to ME Bank can get $3,000 cashback for loans of at least $700k. Other conditions apply.
ME logo
Principal & Interest 2Y Fixed20% min. depositOwner-occupierOffset account
ME logo
Principal & Interest 2Y Fixed20% min. depositOwner-occupierOffset account
Product NameME Flexible Home Loan Fixed
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.5.84%
Comp. Rate p.a.8.08%
Minimum Loan Amount$40,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityYes
Fixed Interest OptionYes
Loan Portable
Extra Repayments Yes
Finder score
Interest Rate
5.84%
Comparison Rate
8.08%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$3,540
Contact Broker
$2-$3,000 cashback
Eligible new purchasers can get $2,000 cashback for loans of at least $400k. Eligible refinancers switching to ME Bank can get $3,000 cashback for loans of at least $700k. Other conditions apply.
ME logo
Principal & Interest20% min. depositOwner-occupierOffset account$700k+
ME logo
Principal & Interest20% min. depositOwner-occupierOffset account$700k+
Product NameME Flexible Home Loan With Member Package
Interest Rate TypeVariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.19%
Comp. Rate p.a.6.58%
Minimum Loan Amount$700,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityYes
Fixed Interest OptionNo
Loan Portable
Extra Repayments Yes
Finder score
Interest Rate
6.19%
Comparison Rate
6.58%
Fees
Application: $0
Ongoing: $395 p.a.
Monthly Payment
$3,675
Contact Broker
$2-$3,000 cashback
Eligible new purchasers can get $2,000 cashback for loans of at least $400k. Eligible refinancers switching to ME Bank can get $3,000 cashback for loans of at least $700k. Other conditions apply.
ME logo
Principal & Interest 1Y Fixed20% min. depositOwner-occupier
ME logo
Principal & Interest 1Y Fixed20% min. depositOwner-occupier
Product NameME Flexible Home Loan Fixed with Members Package
Interest Rate TypeFixed rate
Repayment Type Principal & Interest
Interest Rate p.a.6.19%
Comp. Rate p.a.6.66%
Minimum Loan Amount$40
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionYes
Loan Portable
Extra Repayments Yes
Finder score
Interest Rate
6.19%
Comparison Rate
6.66%
Fees
Application: $0
Ongoing: $395 p.a.
Monthly Payment
$3,675
Contact Broker
$2-$3,000 cashback
Eligible new purchasers can get $2,000 cashback for loans of at least $400k. Eligible refinancers switching to ME Bank can get $3,000 cashback for loans of at least $700k. Other conditions apply.
ME logo
Principal & Interest20% min. depositInvestmentOffset account$700k+
ME logo
Principal & Interest20% min. depositInvestmentOffset account$700k+
Product NameME Flexible Home Loan With Member Package
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.34%
Comp. Rate p.a.6.72%
Minimum Loan Amount$700,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityYes
Fixed Interest OptionNo
Loan Portable
Extra Repayments Yes
Finder score
Interest Rate
6.34%
Comparison Rate
6.72%
Fees
Application: $0
Ongoing: $395 p.a.
Monthly Payment
$3,733
Contact Broker
$2-$3,000 cashback
Eligible new purchasers can get $2,000 cashback for loans of at least $400k. Eligible refinancers switching to ME Bank can get $3,000 cashback for loans of at least $700k. Other conditions apply.
ME logo
Principal & Interest 2Y Fixed20% min. depositInvestmentOffset account
ME logo
Principal & Interest 2Y Fixed20% min. depositInvestmentOffset account
Product NameME Flexible Home Loan Fixed
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.6.04%
Comp. Rate p.a.8.63%
Minimum Loan Amount$40,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityYes
Fixed Interest OptionYes
Loan Portable
Extra Repayments Yes
Finder score
Interest Rate
6.04%
Comparison Rate
8.63%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$3,617
Contact Broker
$2-$3,000 cashback
Eligible new purchasers can get $2,000 cashback for loans of at least $400k. Eligible refinancers switching to ME Bank can get $3,000 cashback for loans of at least $700k. Other conditions apply.
ME logo
Principal & Interest10% min. depositOwner-occupierOffset account$700k+
ME logo
Principal & Interest10% min. depositOwner-occupierOffset account$700k+
Product NameME Flexible Home Loan With Member Package
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.39%
Comp. Rate p.a.6.77%
Minimum Loan Amount$700,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityYes
Fixed Interest OptionNo
Loan Portable
Extra Repayments Yes
Finder score
Interest Rate
6.39%
Comparison Rate
6.77%
Fees
Application: $0
Ongoing: $395 p.a.
Monthly Payment
$3,753
Contact Broker
$2-$3,000 cashback
Eligible new purchasers can get $2,000 cashback for loans of at least $400k. Eligible refinancers switching to ME Bank can get $3,000 cashback for loans of at least $700k. Other conditions apply.
IMB logo
Principal & Interest20% min. depositInvestmentOffset account
IMB logo
Principal & Interest20% min. depositInvestmentOffset account
Product NameIMB Essentials Home Loan
Interest Rate TypeVariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.29%
Comp. Rate p.a.6.46%
Minimum Loan Amount$10,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityYes
Fixed Interest OptionNo
Loan Portable
Extra Repayments Yes
Finder score
Interest Rate
6.29%
Comparison Rate
6.46%
Fees
Application: $449
Ongoing: $10 per month
Monthly Payment
$3,714
Up to $4K cashback
Eligible borrowers can get up to $4,000 cashback when buying or refinancing with IMB. Loan value criteria applies. Other terms and conditions also apply.
IMB logo
Principal & Interest20% min. depositInvestment
IMB logo
Principal & Interest20% min. depositInvestment
Product NameIMB Budget Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.24%
Comp. Rate p.a.6.30%
Minimum Loan Amount$10,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan Portable
Extra Repayments Yes
Finder score
Interest Rate
6.24%
Comparison Rate
6.30%
Fees
Application: $449
Ongoing: $0 p.a.
Monthly Payment
$3,694
Up to $4K cashback
Eligible borrowers can get up to $4,000 cashback when buying or refinancing with IMB. Loan value criteria applies. Other terms and conditions also apply.
IMB logo
Principal & Interest20% min. depositOwner-occupierOffset account
IMB logo
Principal & Interest20% min. depositOwner-occupierOffset account
Product NameIMB Essentials Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.14%
Comp. Rate p.a.6.25%
Minimum Loan Amount$10,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityYes
Fixed Interest OptionNo
Loan Portable
Extra Repayments Yes
Finder score
Interest Rate
6.14%
Comparison Rate
6.25%
Fees
Application: $449
Ongoing: $0 p.a.
Monthly Payment
$3,656
Up to $4K cashback
Eligible borrowers can get up to $4,000 cashback when buying or refinancing with IMB. Loan value criteria applies. Other terms and conditions also apply.
IMB logo
Interest only20% min. depositOwner-occupierOffset account
IMB logo
Interest only20% min. depositOwner-occupierOffset account
Product NameIMB Essentials Home Loan
Interest Rate Typevariable rate
Repayment Type Interest Only
Interest Rate p.a.6.44%
Comp. Rate p.a.6.39%
Minimum Loan Amount$10,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityYes
Fixed Interest OptionNo
Loan Portable
Extra Repayments Yes
Finder score
Interest Rate
6.44%
Comparison Rate
6.39%
Fees
Application: $449
Ongoing: $0 p.a.
Monthly Payment
$3,773
Up to $4K cashback
Eligible borrowers can get up to $4,000 cashback when buying or refinancing with IMB. Loan value criteria applies. Other terms and conditions also apply.
IMB logo
Interest only20% min. depositInvestment
IMB logo
Interest only20% min. depositInvestment
Product NameIMB Budget Home Loan
Interest Rate TypeVariable rate
Repayment Type Interest Only
Interest Rate p.a.6.54%
Comp. Rate p.a.6.44%
Minimum Loan Amount$10,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan Portable
Extra Repayments Yes
Finder score
Interest Rate
6.54%
Comparison Rate
6.44%
Fees
Application: $449
Ongoing: $0 p.a.
Monthly Payment
$3,812
Up to $4K cashback
Eligible borrowers can get up to $4,000 cashback when buying or refinancing with IMB. Loan value criteria applies. Other terms and conditions also apply.
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Showing 20 of 27 results

Top home loan cashback offers in December 2024

The highest value cashback on the market in December is:

  • IMB. Eligible first home buyers and refinancers can get between $2,000 and $4,000 cashback depending on loan value.

The biggest Big Four bank cashback offer is:

  • ANZ. $2,000 cashback for borrowers refinancing loans worth $250,000 or more. $3,000 for eligible first home buyers borrowing $250,000 or more.

And there are many other lenders offering cashbacks this month:

LenderCashback amountBorrowing criteria
ANZ$2-3,000First home buyers and refinancers
ANZ Plus$2,000Refinancers
ME Bank$2-3,000Purchasers and refinancers
Greater Bank$2,500Refinancers
IMB$2-4,000Purchasers and refinancers
BankVic$2-3,000Purchasers and refinancers
Richard Whitten
Cashback update by Richard Whitten – Finder money editor

What is Finder Score?

The Finder Score crunches 7,000 home loans across 120+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.

To provide a Score, we compare like-for-like loans. So if you're comparing the best home loans for cashback, you can see how each home loan stacks up against other home loans with the same borrower type, rate type and repayment type. We also take into consideration the amount of cashback offered when calculating the Score so you can tell if it's really worth it.

Read the full Finder Score breakdown

What is cashback on a home loan?

Some lenders give you a cashback when you get a home loan with them. Cashbacks are usually worth between $2,000 and $3,000 (but sometimes more!) and are mainly a way of encouraging borrowers to switch to the lender from a competitor.

Many banks and lenders offer cashback specifically for borrowers who are refinancing their home loan.

How cashbacks work

Home loan cashbacks are extra money, deposited into your chosen bank account. There is no tax payable on these amounts and you can choose to spend them however you wish. Cashbacks can have some conditions attached that borrowers need to meet, like:

  • Minimum loan amount. Most cashback offers apply for loans $250k and above. If you're refinancing a small loan amount, say $100,000, you might not qualify.
  • Apply before the deadline. Cashbacks are usually offered for a limited time, with ledners specifying that you have to apply by a certain date and have the loan settled by a certain date.
  • Loan purpose. Some cashback offers are limited to refinancers, or are specific to homebuyers only (and not investors).

You need to meet the eligibility criteria, such as the type of loan and the amount you're borrowing. Once the cashback is approved, your lender will deposit it into your bank account, usually within around 30 days of your home loan settling.

Is a home loan cashback offer worth it?

Sign-up bonuses and cashback are attractive side benefits of a loan. They can be a massive bonus – who doesn't want a few grand for free?! – but don't get too distracted by them. If the loan itself isn't a good product for you, because the rate is too high or the terms aren't suitable, then the bonus just isn't worth it.

When comparing mortgages ask yourself this question: if they took away the special offer of a cashback, would this loan be right for me?

Always look at the following when examining home loan special offers:

  • Interest rate. Does this loan have a competitive interest rate, in line with the other cheapest rates in the market? Will it save you money even without the sign-up bonus?
  • Fine print. If the loan offers a special lower interest rate, is that just for the first year, or ongoing? Will the loan revert to a higher rate?
  • Loan features. The sign-up offer should not be the only reason you choose a certain home loan. Take into account all the features offered by the loan and whether they suit your needs.
Matt Turner's headshot
Expert insight: The risks of cashbacks

"Cashbacks were initially offered to cover the switching costs associated with refinancing, but they quickly became a tool for banks to buy business and compensate customers for poor service over COVID. We had some clients receive over $20,000 in cashbacks for refinancing their properties. Whilst these are a great offer, it shouldn't be the sole reason to refinance your loan or pick a product provider. When we assess the suitability of a lender, we take into account your circumstances and match the right lending policy before anything else – then it is rates and fees and finally we look at cashback opportunities. We have seen many clients get into the wrong products because they were lured by a $2,000 sugar hit. These products can end up being tens of thousands of dollars more expensive in the long run."

Mortgage broker, GSC Finance Solutions

When a special offer doesn't make sense

Here's a hypothetical example of a refinance cashback offer that looks enticing but doesn't really benefit the borrower.

  • Your current loan: You're currently on a 6.25% interest rate with $300,000 left on your loan.
  • The offer: You see a package home loan with a $2,000 cashback and a lower 5.90% interest rate.
  • The comparison: You look around and see a few loans with a similar 5.90% rate but no cashback, so you go for the one that gives you $2,000. Makes sense, right?

But then you realise it's a package loan, so you get a credit card and an offset account with the loan, plus a home insurance policy. This all comes with an extra $400 annual package fee.

But you don't want the offset account or the credit card, and you're currently getting a better deal on your insurance elsewhere. And that annual package fee? Well, in just 5 years it's eaten up the full $2,000 cash back.

If you switch to a similar loan with a 5.90% rate that doesn't have a $400 annual package fee, you'll be better off. Of course, if you made use of all the products in the package then the fee might be a small price to pay for the convenience of having all your products with one institution.

It all depends on your needs.

Brett Sutton's headshot
Expert insight: Can you still get cashbacks?

"Cashback offers are still available and can provide a financial boost during the settlement process. However, it's important to weigh the overall loan cost and terms, as cashback deals sometimes come with higher interest rates or fees. Always compare the long-term savings against the upfront reward."

Mortgage broker, Two Red Shoes

Compare a wider range of mortgages here

What other kind of special offers do lenders provide?

Fee reduction or waived fees

Many lenders will waive or reduce fees for a limited time, so it's always worth asking the question. Given that application fees can cost $600 or more, this is a decent saving. As with home loan cashbacks, fee waivers usually have exclusions and eligibility criteria, such as time limits and minimum loan amounts.

Discounted interest rates

Discounted rates can save you a decent amount of money in the early stages of your loan. Be sure to compare the discount rate to other offers and watch out for the end of the offer period, when the rate will rise.

Package deals

Some lenders allow you to package things like credit cards, savings accounts and offset accounts with your home loan account. You can save by paying a combined annual fee for all products you've chosen to package, as well as enjoy the convenience of having all of your finances in one location.

Frequent flyer points

Some lenders have partnerships with frequent flyer rewards programs. The points you can gain from these loans can equal enough to cover an international flight. You can learn more about frequent flyer loans in our guide.

Frequently asked questions about home loan cashback offers

Why you can trust Finder's home loan experts

helpObsessed with offers. We live track 20+ offers daily. Big banks, small, new and all inbetween, our goal is to get you more cash back in your pocket to make your re-fi worth it.
freeRanked objectively. Nobody wants short term gain for long term crappy rates. That's why we score all home loans objectively so you can see how they stack up with a simple score out of 10.
independentNo BS. We're not owned by a bank, we don't have a call centre. Our only mission is to match you with your next mortgage. Whether it's your first switch, or you're a cash back regular - we got you.
Rebecca Pike's headshot
John Pidgeon's headshot
To make sure you get accurate and helpful information, this guide has been edited by Rebecca Pike and reviewed by John Pidgeon, a member of Finder's Editorial Review Board.
Richard Whitten's headshot
Editor

Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206), a Tier 1 Generic Knowledge certification and a Tier 2 General Advice Deposit Products (RG 146) certification. See full bio

Richard's expertise
Richard has written 562 Finder guides across topics including:
  • Home loans
  • Property
  • Personal finance
  • Money-saving tips

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