Earn 300,000 Qantas Points on a new ANZ Home Loan

By Polly Fleeting · · 4 min read
Fact Checked
Advertiser disclosure

Qantas Frequent Flyer and ANZ have joined forces to offer the chance for customers to earn Qantas points on new eligible ANZ home loans. 

For loans over $300,000, borrowers could earn a massive 300,000 Qantas Points to put towards their next flight or to use at the Qantas Rewards store. 

It’s important to note that customers must already be a member with Qantas Frequent Flyer in order to claim the points available through this new offer. 

The eligible ANZ home loans include the ANZ Standard Variable Rate Loan, ANZ Fixed Rate Loan and ANZ Simplicity Plus Loan for both owner occupiers and investors. 

But that’s not all! 

ANZ have also given applicants the chance to win up to $500,000 off their home loan, which could really put a huge dent in the amount customers need to borrow overall. 

There are a few key things to keep in mind before barging into an ANZ branch demanding this new deal though. 

Potential borrowers must apply for an eligible ANZ home loan by the 31st of August this year and settle the loan by January 2020 to access the Qantas Points offer. 
 
While there’s all the information about this new home loan offer available on the Qantas website, Qantas don’t offer the loans, you must apply for the loan directly through ANZ. 

Are the points worth it? 

While this offer may be a tempting option for you, before you scurry off and sign the dotted line let’s crunch some numbers. 

Look at it this way, with 300,000 Qantas points you could redeem 37.5 Sydney to Melbourne flights (valued at $150 each) making your points worth $5,625.  

Say you take out a $400,000 ANZ Simplicity PLUS loan at 3.38% (3.38% comparison rate*), over 30 years you’d have to make monthly repayments of $1,769 and pay a total of $237,017 in interest. (Keep in mind this is the rate that will apply after ANZ’s announced cuts to home loan interest rates that will be made effective on July 12)

Now, let’s compare this with the lowest rate home loan in our database at the moment, a Reduce Low Rider home loan. If you borrowed the same amount for the same length of time but at 2.89% (2.96% comparison rate*), you’d make monthly payments of $1,663 and pay a total of $198,600 in interest - that’s a difference of $106 per month and $38,417 over the life of the loan when compared with the ANZ Simplicity PLUS home loan. 

So when you consider the Qantas points that are worth $5,625, they may not seem so shiny 30 years on as they did when you first took out the loan.

Last updated 28 April 2025 Important disclosures and comparison rate warning*
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Loan purpose
Buying or Refinancing
  • Promoted

    Unloan Variable Home Loan

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    • Principal & Interest
    • 5% min deposit
    Interest rate
    5.49 % p.a.
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    Comparison rate
    5.91 % p.a.
    Initial monthly repayment
    $2,836
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    Fixed Rate Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • Interest only
    • 20% min deposit
    Interest rate
    5.49 % p.a.
    Fixed 2 years
    Comparison rate
    5.96 % p.a.
    Initial monthly repayment
    $2,836
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    Variable Home Loan 90

    • Owner occupier
    • Principal & Interest
    • 10% min deposit
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    • Redraw available
    Interest rate
    5.79 % p.a.
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    Comparison rate
    5.83 % p.a.
    Initial monthly repayment
    $2,931
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    • No monthly or ongoing fees
    • Option to add an offset for 0.10% p.a.

  • 2-Year Discounted - Simple Home Loan Variable

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Redraw available
    Interest rate
    5.49 % p.a.
    Variable for 24 months and then 5.74% p.a.
    Comparison rate
    5.69 % p.a.
    Initial monthly repayment
    $2,836
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  • Fixed Rate Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 5% min deposit
    Interest rate
    5.49 % p.a.
    Fixed 2 years
    Comparison rate
    5.91 % p.a.
    Initial monthly repayment
    $2,836
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    • No ongoing annual fees
    • Make up to $25,000 extra repayments during a fixed period, fee free (T&Cs apply)
    • Lock in for up to 5 years.

  • Fixed Rate Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • Interest only
    • 20% min deposit
    Interest rate
    5.49 % p.a.
    Fixed 2 years
    Comparison rate
    5.96 % p.a.
    Initial monthly repayment
    $2,836
    Go to site
    • Free extra repayments of up to $25,000 during the fixed rate period.
    • Split loan available
    • Weekly, fortnightly, or monthly repayment options

  • Discounted Complete Package Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.64 % p.a.
    Variable for 24 months and then 5.89% p.a.
    Comparison rate
    6.18 % p.a.
    Initial monthly repayment
    $2,883
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    • 100% offset account
    • Make additional repayments at any time
    • Get a fee-free credit card (T&Cs apply)

  • Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Redraw available
    Interest rate
    5.69 % p.a.
    Variable
    Comparison rate
    5.70 % p.a.
    Initial monthly repayment
    $2,899
    Go to site
    • Offset and non-offset options for flexible payments
    • No application and monthly account keeping fees
    • Get up to $4,000 cashback (T&Cs apply)
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** 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.

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