Home loan cashback bonanza heats up


12 Nov 2019


With less than a few weeks to go before property season makes way for the festive season, Australia's home lenders are fighting it out with generous cashback offers and discounted rates to entice home buyers and refinancers.

Some of the top home loan cashback deals available right now include ANZ's $2,500 cash reward for refinancers and Suncorp's $2,000 cash bonus. With attractively low interest rates on offer as well as the generous upfront cashback, these limited time only deals are proving popular with borrowers looking to save money on their home loan and earn cashback into the bargain.

To help you cash in on the savings, the Mozo Editors have rounded up the details on these deals plus some of the other top home loan specials on the market right now.



ANZ Simplicity PLUS Special Offer LVR <80%
  • $2,500 cashback on eligible refinanced loans of $250K+

  • Low 3.24% variable rate (3.28% comparison rate*)

  • No ongoing fees (upfront fee applies)

Proving that big banks can deliver competitive value, ANZ is tempting home loan refinancers with a special discounted variable rate and a generous $2,500 cash reward for switching. What's more, you'll pay $0 ongoing service fees and have access to free extra repayments and a redraw facility. To take advantage of this limited time offer, you just need to refinance an eligible home loan of $250,000 or more by 31 January 2020 (T&Cs apply). 

Where do I get itHead over to ANZ to find out more >>



Suncorp Fixed Home Loan Special Offer
  • 2.89% fixed rate for 3 years (3.70% comparison rate*)

  • Free extra repayments - up to $500 each month

  • $2,000 cashback bonus - limited time offer

Suncorp is delivering incredible value here with one of the lowest fixed rates in the Mozo database plus a $2,000 cash bonus when you take out a loan of $250,000 or more (T&Cs apply). Not only will you get peace of mind over your mortgage repayments for 3 years, you can also choose to make extra repayments of up to $500 a month to pay down your loan faster. Oh, and did we mention there's $0 loan establishment fee? Be quick, as this offer is available for a limited time only.

Where do I get it? Head over to Suncorp to find out more >>



UBank UHomeLoan - Discount Offer
  • 2.84% variable rate (2.84% comparison rate*)

  • $0 annual or upfront application fee

  • Free extra repayments and redraw facility

Popular online lender UBank knows how to do value, and this discounted variable rate offer is no exception. With one of the lowest variable rates in the Mozo database, plus $0 application or ongoing fees, this is a great budget-friendly home loan for refinancers that comes with the security of being backed by NAB. It's available for loans of $200,000 plus with a minimum deposit or 20% or more, and you can choose monthly, fortnightly or weekly repayments to suit your budget.

Where do I get it? Head over to UBank to find out more >>



Bank of Queensland Discount Fixed Rate 300k+
  • 2.99% 3 year fixed rate (3.72% comparison rate*)

  • Free extra repayments up to $5,000 p.a.

  • Make repayments weekly, fortnightly or monthly

If you’re looking to lock in a big-bank-beating rate, then look no further. Bank of Queensland is offering up a super competitive rate on a fixed 3 year term, and what’s more, you won’t miss out on the added benefit of making free extra repayments to cut down your interest. This one’s available for loans from $300,000 with a minimum deposit of 20%.

*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 the amount and term you entered.

**Initial monthly repayment figures are estimates only, based on the advertised rate, and a loan of $500,000 repaid over 25 years. 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.

Want to compare more home loans? View the latest mortgage rates from over 80 lenders at Mozo's home loan comparison hub.

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