January’s top cashback home loans: Save $$$ with ANZ, ME Bank + more
Earn up to $4,000 when you take out a new home loan as a buyer or refinancers.
There are a number of reasons you might consider a particular home loan product to be the right one for you. An attractive interest rate, a 100% offset account, no fees.
For many people, the offer of a cashback is particularly enticing. Finder's research shows that 70% of Australians consider a cashback offer.
We'll look at the what-to-dos and what-not-to-dos around cashback below, but first, let's take a look at the top offers for January 2025.
Our January picks for cashback
IMB - up to $4,000
IMB is offering the best cashback offer on the market right now.
Eligible buyers or refinancers can get up to $4,000. But the amount of cashback you get depends on the amount you borrow:
$2,000 for borrowers of $250,000 to $499,999.
$3,000 for borrowers of $500,000 to $749,999.
$4,000 for borrowers of $750,000+.
IMB's best variable rate home loan: The IMB Essentials Home Loan has a Finder Score of 9.
IMB's best fixed rate variable home loan: The IMB Fixed Rate Home Loan has a Finder Score of 8.7.
ANZ - up to $3,000
ANZ is offering $2,000 cashback for refinancers and $3,000 cashback for first home buyers. Loans must be worth at least $250,000 and less than 80% LVR.
ANZ's best variable rate home loan: ANZ's Simplicity Plus Home Loan has a Finder Score of 8.3.
ANZ's best fixed rate home loan: ANZ's Fixed Rate Home Loan has a Finder Score of 9.3.
ME Bank - up to $3,000
ME is offering new purchasers a cashback of $2,000. They must be borrowing at least $400,000.
Refinancers can get a cashback of $3,000 when they switch loans of at least $700,000.
ME Bank's best variable rate home loan: ME's Flexible Home Loan with Member Package has a Finder Score of 8.9.
ME Bank's best fixed rate home loan: ME's Flexible Home Loan Fixed has a Finder Score of 9.9.
Speak to a broker about ME home loans
Newcastle Permanent - up to $3,000
Newcastle Permanent is offering a cashback of up to $3,000, depending on the loan value. Both purchasers and refinancers can benefit - as long as you apply online.
$2,000 for borrowers of $250,000 to $499,999
$3,000 for borrowers of $500,000+
Newcastle Permanent's best variable rate home loan: Newcastle Permanent's Premium Plus Package Home Loan has a Finder Score of 9.2.
Newcastle Permanent's best fixed home loan: Newcastle Permanent's Premium Plus Package Fixed Rate Home Loan has a Finder Score of 9.3.
BankVic - up to $3,000
BankVic offers a cashback specifically for essential workers. The amount depends on the borrower's occupation and loan value.
$2,000 for health workers with loans of $200k+
$3,000 for police and emergency service workers with loans of $350k+
BankVic's best variable rate home loan: BankVic Variable Home Loan has a Finder Score of 8.6.
BankVic's best fixed home loan: BankVic Fixed Home Loan has a Finder Score of 9.6
Speak to a broker about BankVic home loans
You should compare home loans beyond cashback offers. Head to Finder's home loan guide for more options.
Dos and don'ts for cashback offers
- Don't get a home loan just because there's a good cashback
- Do check that you are eligible for the cashback before you apply
- Don't refinance for a cashback only to spend $$$ in exit fees
- Do refinance to a home loan that has a better interest rate and features
- Don't refinance for a cashback only to end up with a higher rate or fewer features
- Do put your cashback into your offset or extra repayments for maximum savings