Lenders offering up to $4,000 cashback and points to refinance your home loan

By Cameron Thomson and Jack Dona
Fact Checked
Advertiser disclosure
australian-notes-in-persons-hands

Want to refinance your home loan and get rewarded for switching? Check out some of the latest cashback refinance offers right here. 

Cashback home loans

ANZ

  • ANZ Simplicity Plus Special Offer | Receive $2,000 cashback when you refinance a home loan of $250,000 or more. Only available to borrowers with an LVR <80% who settle within 120 days (T&Cs apply).

ANZ Plus

  • ANZ Plus Home Loan Variable | Receive $2,000 cashback when you refinance an eligible non-ANZ home loan of $250,000 or more. Must be before 31 March, 2025 (T&Cs apply).

ME

  • ME Basic Home Loan | Receive $2,000 cashback when you refinance a home loan of between $400,000 and $700,000, or $3,000 cashback when you refinance a home loan worth more than $700,000. Only available to borrowers with an LVR <80% who settle within 120 days (T&Cs apply).

BankVic

  • BankVic Special Offer Variable Home Loan | Police and emergency service workers can receive $2,000 cashback when refinancing an existing home loan of $200,000 or more. Only available to borrowers with an LVR <80% (T&Cs apply).

Greater Bank

  • Greater Bank Discount Great Rate Home Loan | Receive $2,000 cashback when you refinance a home loan of $250,000 or more, or $2,500 cashback when you refinance a home loan of $500,000 or more. Must have an LVR <80% (T&Cs apply).

IMB Bank

  • IMB Bank Budget Home Loan | Receive $4,000 cashback when you refinance a home loan of $750,000 or more. Get $3,000 cashback for loans between $500,000 and $749,000, or $2,000 for loans between $250,000 and $499,000. Must have an LVR <80% (T&Cs apply).

Newcastle Permanent

Qantas Points earning home loans

Qantas Money

What is a home loan cashback offer?

Basically, a cashback offer is when the bank offers you a lump sum of money to refinance your home loan over to them. 

While these offers are great, it’s important to not just focus on the cashback offers. You’ll also want to look for competitive interest rates too, especially since larger rates can make borrowers pay increasingly larger repayments. 

A lot of refinancers will find themselves comparing their current repayments to what they could get with a refinanced home loan with a cashback offer and deciding the switch will put them in a better position. Plus, the cash you get is yours to do with as you please—you can put it in your offset account, savings, home reno, or even just a holiday.  

How to qualify for a home loan cashback offer

If you’re looking for a home loan cashback offer, you’ll need to make sure that you qualify first. Some of the things to look out for include: 

  • Minimum loan amount: Many cashback offers are only available for loans above a certain amount (e.g. $250,000 or $400,000). Be sure to check the minimum loan size required for each offer.
  • Loan-to-Value Ratio (LVR): Lenders often have a maximum LVR they'll accept for cashback deals, which is the percentage of the property's value you're borrowing. You’ll often need an LVR at or below 80% to qualify, meaning you'll need at least a 20% deposit or equity in your home.
  • Credit score: Having a good credit score is important for qualifying for any home loan, and cashback offers are no exception. Lenders will likely have a minimum credit score requirement, so it's a good idea to check your credit report and ensure it's in good shape before applying.
  • Timing: Cashback offers are usually only available for a limited time, so you'll need to apply within the specified period to be eligible.

What can I get for a cashback home loan?

Key considerations:

  • What’s the interest rate of the loan?
  • What sort of fees does the home loan have?
  • Can you make extra repayments?

If you’re looking to refinance your home loan with a cashback offer, it’s important to look at what other features you’ll get alongside it as well, such as what you’ll be paying in upfront and/or ongoing fees—and even better if they’re low or no fees!

Another great feature to look for when refinancing your home loan with a cashback offer is that you can make free extra repayments. Making free extra repayments is a great way of lowering the interest you pay on your loan and can reduce the length of it over time. 

And who’s to say you can’t grab a great rate as well, along with all these great features and a cashback deal while you’re at it? To help you start comparing we’ve wrapped up some competitive cashback offers below.

Mozo may receive payment if you click products on our site. We don’t compare the entire market, but you can compare more home loans here.
Last updated 23 November 2024 Important disclosures and comparison rate warning*

Home loan comparisons on Mozo

Promoted

  • Unloan Variable

    • Owner Occupier
    • LVR <80%
    Interest rate
    5.99 % p.a.
    Variable
    Comparison rate
    5.90 % p.a.
    Initial monthly repayment
    $2,995
    Go to site

    Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.

  • Fixed Home Loan

    • Owner Occupier
    • Principal & Interest
    • LVR <95%
    Interest rate
    5.69 % p.a.
    Fixed 3 years
    Comparison rate
    6.28 % p.a.
    Initial monthly repayment
    $2,899
    Go to site

    Get the security of a competitive fixed rate home loan for 2 years with IMB. Get up to $4,000 cashback (T&Cs apply). Up to 12 months repayments in advance without penalties. Free Internet and Mobile Banking redraws (T&Cs apply). Up to a 30 year loan term. Split loan available. No offset account.

  • Fixed Rate

    • Owner Occupier
    • Principal & Interest
    • <80% LVR
    Interest rate
    5.74 % p.a.
    Fixed 3 years
    Comparison rate
    6.81 % p.a.
    Initial monthly repayment
    $2,915

    Enjoy up to $3000 cashback for eligible first home buyers and $2000 cashback for refinancers on eligible home loans with the ANZ Fixed Rate Home Loan. Get the security of repayment certainty with a competitive locked in rate. No ongoing fees to pay. Offset account on 1-year fixed loans ($10/month fee applies). Interest-only payments allowed.

  • Unloan Variable

    • Owner Occupier
    • LVR <80%
    Interest rate
    5.99 % p.a.
    Variable
    Comparison rate
    5.90 % p.a.
    Initial monthly repayment
    $2,995
    Go to site

    Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.

  • Budget Home Loan

    • LVR <80%
    • Owner Occupier
    • Principal & Interest
    Interest rate
    6.04 % p.a.
    Variable
    Comparison rate
    6.07 % p.a.
    Initial monthly repayment
    $3,011
    Go to site

    Enjoy a discounted variable home loan from IMB. Get up to $4,000 cashback (T&Cs apply). Life-of-loan discount off IMB’s standard variable interest rate. Unrestricted additional repayments. Free Internet and Mobile Banking redraws (T&Cs apply). No monthly fees to pay. Up to a 30 year loan term. Split loan available. No offset account.

  • Mortgage Simplifier

    • LVR<80%
    • Owner Occupier
    • Principal & Interest
    Interest rate
    6.14 % p.a.
    Variable
    Comparison rate
    6.17 % p.a.
    Initial monthly repayment
    $3,043

    Get a competitive variable rate with ING’s Mortgage Simplifier. Free extra repayments, no monthly or annual fees. Freedom to make free extra repayments or redraws.

  • Elevate

    • Owner Occupier
    • Principal & Interest
    • <80% LVR
    Interest rate
    6.18 % p.a.
    Variable
    Comparison rate
    6.18 % p.a.
    Initial monthly repayment
    $3,056

    Get competitive rates on loan terms of 5 to 30 years with the Aussie Elevate Home Loan. Structure your loan with up to five splits. Make additional repayments (T&Cs apply). Offset accounts available. Unlimited redraw using your online banking account. Choose from weekly, fortnightly or monthly payments For loan amounts from $10,000 to $5 million.

Showing 6 of 430 home loans. Use the filters to see more
image of houses

Need help with your Home Loan?

Whether you're looking to purchase a new home or refinance your existing loan, our friends at Lendi can help! Lendi’s expert advice is completely free of charge. Book an appointment and enter the draw to win $30K.

Learn more

Cashback Home Loan FAQ

Do all home loan providers offer cashback rewards?

No, cashback offers for refinanced home loans will usually vary depending on the provider. Cashback offers will usually be advertised on the home loan refinance product.

Are cashback offers only for owner-occupiers?

It depends on the lender, but a lot of home loan providers who have cashback offers with their products offer them to both owner-occupiers and investors.

Who is eligible for a cashback offer?

Cashback offers are intended for borrowers who want to refinance an existing home. Generally, this is to incentivise borrowers to switch with the provider who is offering the cashback offer.

What is a home loan refinance?

A home loan refinance is when a borrower pays off their home loan with a new home loan, effectively jumping over to a new home loan provider. 

Why would you want to refinance your home loan?

There are a few reasons why borrowers would want to refinance their home loan. Chief among them will usually be that borrowers are looking for a home loan provider that offers a more competitive interest rate. There are other reasons as well such accessing handy features (like offset accounts) or a cashback offer.

Why would you opt for a cashback offer?

If you were going to refinance for a cashback offer, there are a lot of ways you might use the money. However, cashback offers can be useful for borrowers who—alongside refinancing their home—want to do something like a renovation. 

To compare even more offers available to refinancers, as well as other types of borrowers, head on over to the Mozo home loan comparison hub.

* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

^See information about the Mozo Experts Choice Home Loan Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.

Compare home loans