Whether you’re in the market for a competitive home loan deal or need some swipe worthy plastic for your pocket, it’s always nice if the product comes with a little something extra.
This week we are focusing our attention on the banking offers that not only offer great value when it comes to rates, fees and features but also come with the added perk of cash back.
Here are our top freebie picks:
1. Virgin Money No Annual Fee Card – Receive $100 cash back and pay $0 annual fee
Want a credit card without the bite of an annual fee? Well, have we got the card for you! If you diligently pay your balance on time and in full each month (to avoid the 18.99% purchase rate) going for Virgin Money’s No Annual Fee Card could mean you’ll pay nothing whatsoever in charges for the perk of having a credit card in your pocket. And that’s not all, if you apply by 3 April and spend $2,000 within the first 3 months, you’ll get a sum of $100 applied to your account.
2. Commonwealth Bank Low Rate Card – Enjoy $150 cash back and 55 interest free days
If you’re more worried about the interest rate than the annual fee, then you’ll be happy to hear the ongoing purchase rate of the Commonwealth Bank Low Rate Card is just 13.49%. On top of this you’ll receive a generous 55 interest free days to pay off any recent splurges and of course the greatest feature of all, the $150 cash back offer if you apply by 14 April 2016 and spend $500 on eligible purchases by 31 May 2016.
3. Citibank Simplicity – 5% cash back and free wine offer
Love to wine and dine? If you answered “yes” it’s time to get to know this credit card specimen from Citibank. When you sign up with the Simplicity card every time you dine with the Citibank Dining Program you’ll receive a free bottle of wine. Other features of the card include a $0 annual fee, 55 interest free days and a generous 5% cash back offer on “tap and go” purchases under $100 (up to $500 over the first four months).
4. HSBC Day to Day Account – $0 account keeping fees and earn up to $300 cashback
Wide ATM network? Check. $0 account keeping fees? Check. Generous cashback offer? Check. Yep, there’s a lot to love about the HSBC Day to Day Account. To be specific with this bank account you’ll enjoy fee free withdrawals from any HSBC, Westpac, St.George, BankSA or Bank of Melbourne ATMs around Australia. And you’ll receive 5% cash back on all payWave “tap and go” purchases under $100 for the first 3 months (up to a maximum of $300).
5. ING Direct Orange Everyday – Fee free ATM withdrawals anywhere in Australia and 2% cashback
Sick of sky high ATM fees? The good news is, if you deposit $1,000 into your Orange Everyday account each month you’ll pay no withdrawal fees at any ATM in Australia and will also receive 2% cash back for all contactless purchases under $100. It’s no wonder this provider claimed the title for offering the best bank accounts in the Mozo People’s Choice Awards!
6. Citibank Plus Transaction Account – $0 overseas fees and 5% cash back
Another provider offering a tempting cash back offer is Citibank, earning you 5% every time you “tap and go” at the checkout for the first four months (capped at $150 per month). So why should you go for this bank account over the two mentioned above? The answer is if you’re planning on jet-setting overseas, the $0 overseas purchase and ATM withdrawal fees, will be a real incentive.
7. ING Direct Orange Advantage Home Loan – $0 application fee and ongoing 1% cash back offer
If you’re looking for a home loan that keeps on rewarding you after you take out the loan, then ING Direct’s Orange Advantage Home Loan could do the trick. There’s a $0 application fee, rates start from 4.13% (4.33% comparison rate) and you’ll receive a 1% ongoing cash back offer (up to $30 per month) when you open an Orange Everyday bank account and deposit at least $1,000 per month.
8. Newcastle Permanent Variable Home Loan (Premium Plus Package) – Rates from 4.09% and $1,000 cash back
The Premium Plus Package from Newcastle Permanent is dubbed “Premium” for a reason. You’ll receive super low rates starting from 4.09% (4.45% comparison rate), $0 ongoing fees and a range of flexible features like an offset account, fee free extra repayments and a redraw facility. Not to mention if you’re an owner occupier refinancing a loan over $250k, you’ll pocket $1,000 cash back that you can put towards the costs of switching.
9. Bank of Sydney Expect More Home Loan (Fixed, Package) – $500 cash back and low 4.29% fixed rate
Has the record low interest market got you thinking about locking in your rate? Well if you currently hold a mortgage with another provider and refinance to the Bank of Sydney’s Expert More Home Loan, you’ll receive a low 4.29% interest rate (4.80% comparison rate), if you choose the 3 year fixed option, and as an added bonus the lender will also throw $500 cash back into the mix.
10. St.George Variable Home Loan (Advantage Package) – $1,500 cash back and LVRs up to 95%
St.George has also come to the cash back party offering a generous $1,500 for new customers. To pocket this cash, your loan amount needs to be over $250k and you must be an owner occupier borrower. While the rate is slightly higher than the other home loans mentioned above starting from 4.69% (5.08% comparison rate), first home buyers might be glad to hear they can borrow up to 95% of the property value.
And the biggest freebie you could get…
Finding a low rate home loan! While cash back offers may be tempting, nothing can surpass the savings made by tracking down one of the best rates in the market. For instance, Mozo’s mystery bank deal has a rate of just 3.89% and while it might not seem much lower than ING Direct’s 4.13% rate mentioned above, over a 25 year period it amounts to a saving of $19,889 for a borrower with a $500k mortgage.
If you are in the market for a new home loan and think you might need a little help negotiating a great deal, Mozo has a haggling service that you can use for free. Just call 13 6696 (MOZO) or fill out your details here.
Please note, any rates or features mentioned in this blog were available at the time of writing and may have changed. To check on today’s product information, please click on the highlighted product above.