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

By Jasmine Gearie · · 4 min read
Fact Checked
Advertiser disclosure
A young family leaving their house.

There are a number of lenders that reward you for refinancing your home loan.

One way is by offering you cashback, and according to the Mozo database, the highest cashback offer we can find is up to $4,000 – this is available if you refinance with IMB Bank.

While much less common, another perk you can get from refinancing your mortgage is earning rewards such as Qantas Points or Virgin Money Points – you’ll find this if you refinance to Virgin Money.

Check out some of the latest cashback refinance and points-earning offers right here.

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Cashback refinance offers

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Important disclosures and comparison rate warning*
Greater Bank Discount Great Rate Home Loan – high cashback with low rate
  • Greater has confirmed a 0.25% p.a. variable rate cut effective from 26 August, 2025
  • Variable rate from 5.49% p.a. (5.50% p.a. comparison rate*)
  • Get up to $3,000 cashback when you apply online (T&Cs apply)
  • Mozo Experts Choice Awards winner for Low Cost Home Loan in 2025^

  • No offset account

Greater Bank offers a high cashback offer along with one of the lowest variable rates in our database, making it absolutely worthy of your shortlist.

You can be eligible for $3,000 cashback when you take out or refinance a home loan of $500,000 or more. If you’re taking out a home loan, or refinancing one between $250,000 and $499,999, you could be eligible for $2,500 cashback.

ME Basic Variable Home Loan – $3,000 cashback for refinancing
  • ME has confirmed a 0.25% p.a. variable rate cut effective from 30 August, 2025
  • From 5.63% p.a. variable rate (5.65% p.a. comparison rate*)
  • No application and no monthly account fees
  • $3,000 cashback if refinancing to ME

A home loan with all the key basics: a low variable rate, no monthly fees and fee-free redraw (min $500 withdrawal). To qualify for the 5.63% variable rate (5.65% comparison rate*) you’ll need at least 20% deposit or equity and have a loan amount of $150,000 or more.

While this loan doesn’t have an offset account, you can make extra repayments and take advantage of the free redraw. There is no application or monthly fees but the loan has a $200 valuation and $250 settlement fee. If you’re refinancing to ME from another lender there’s a $3,000 cashback deal (loan size must be over $700k and maximum LVR of 80%). Other T&Cs apply.

IMB Bank Budget Home Loan – $4,000 cashback offer
  • IMB has confirmed a 0.25% p.a. variable rate cut effective from 26 August, 2025
  • 5.54% p.a. variable rate (5.57% p.a. comparison rate*)
  • Up to $4,000 cashback (T&Cs apply)
  • Make extra repayments with no fees

  • LVR of 80% or less required for cashback
  • Application and processing fees apply

IMB Bank currently has one of the highest cashback offers in our database. You could receive $4,000 cashback when you refinance a home loan of $750,000 or more, or if you’ve paid down more of your mortgage, you could get $3,000 cashback for loans between $500,000 and $749,999.

If you’re refinancing a loan that’s between $250,000 and $499,999, you could be eligible for $2,000 cashback. We like that you can make additional repayments without facing a fee, but keep in mind that application and processing charges apply to establish the loan.

BOQ Discount Fixed Rate Home Loan – super low 2 year fixed rate + $2,000 cashback
  • Bank of Queensland has confirmed a 0.25% p.a. variable rate cut effective from 29 August, 2025
  • 4.89% p.a. for 2 years (5.62% p.a. comparison rate*)
  • $2,000 cashback for new loans refinanced from another lender until 30 September, 2025 (T&Cs apply)
  • Up to $10,000 extra repayments annually

Want the certainty of fixed repayments, but with a bit of extra flexibility? BOQ’s Discount Fixed Rate Home Loan lets you lock in a rate for two to five years, with a sharp 2 year 4.89% p.a. interest rate (5.62% p.a. comparison rate*) that ranks among the lowest in our database for borrowers with at least 20% deposit or equity.

You can still make up to $10,000 in extra repayments each year and choose a repayment schedule that works for you. Refinance from another lender by 30 September, 2025 and you can pocket $2,000 cashback (T&Cs apply). There’s no application fee, but there is a $150 settlement fee and an ongoing $10 monthly service fee to keep in mind.

BankVic – up to $4,000 cashback

  • BankVic Police Variable Rate | Receive $4,000 cashback when taking out a new home loan or refinancing an existing home loan of $350,000 or more. Only available to borrowers with an LVR <80%. Must be a member of the police force to apply (T&Cs apply).

ANZ – up to $2,000 cashback

  • 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 – up to $2,000 cashback

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

Newcastle Permanent – up to $2,000 cashback

  • Newcastle Permanent Special Real Deal Home Loan | Receive $2,000 cashback when you refinance a home loan between $250,000 and $499,999, or get $3,000 cashback for loans of $500,000 or more. Must have an LVR <80% (T&Cs apply).

Regional Australia Bank – up to $2,000 cashback

  • Regional Australia Bank Home Loan | Receive $2,000 cashback when you refinance a home loan of $300,000 or more (T&Cs apply).

Reward points offers

Virgin Money Points

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Important disclosures and comparison rate warning*
Virgin Money Loaded Home Loan
  • Virgin Money has confirmed a 0.25% p.a. variable rate cut effective from 29 August, 2025
  • Variable rate from 5.59% p.a. (5.88% p.a. comparison rate*)
  • Earn Virgin Money Points at settlement and every month
  • 100% interest offset across up to 10 Go accounts

As the name suggests, this home loan comes loaded with great features from earning rewards points for paying off your loan that you can spend on everything from shopping, cashback and flights, to the 100% interest offset which can help you to save on interest repayments as funds in Go accounts will offset interest payable (up to 10 accounts).

You can earn 2,000 Virgin Money points for every $10,000 borrowed at settlement plus score a repayment reward of 2,000 points every month – as long as you’re not behind on your repayments (T&Cs apply).

Interest rates will vary depending on your loan-to-value ratio with the best variable rates available for a LVR of 60% or less at 5.59% p.a. (5.88% p.a. comparison rate*). There’s a $295 annual fee and a $150 loan settlement fee to consider. Virgin Money cover valuation costs up to $300.

Virgin Money Lite Home Loan
  • Virgin Money has confirmed a 0.25% p.a. variable rate cut effective from 29 August, 2025
  • Variable rate from 5.54% p.a. (5.56% p.a. comparison rate*) up to 80% LVR
  • Earn Virgin Money Points every month
  • No ongoing fees

This basic home loan from Virgin Money has perks as well as great features like no set up or ongoing fees. Like being rewarded for paying off your home loan? You could earn 1,000 Virgin Money Points each month just for making your home loan repayments on time.

Interest rates are scaled depending on your loan-to-value ratio with the best option for those with 20% or more equity or deposit at 5.54% p.a. (5.56% p.a. comparison rate*). You can choose the repayment schedule that best suits you - weekly, fortnightly or monthly and there is also the option to split your loan between variable and fixed rates.

This loan doesn’t have an interest offset but you can make extra repayments at any time fee free and dip into those funds whenever you need to. There is a $150 loan settlement fee and Virgin Money cover valuation costs up to $300.

Qantas Money

  • Qantas Money Variable Home Loan | Earn 100,000 Qantas Points every year for the life of your home loan (T&Cs apply).

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?

Compare home loans now

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 19 August 2025 Important disclosures and comparison rate warning*
What are your home loan needs?
Loan purpose
Buying or Refinancing
  • Promoted

    Discount Fixed Rate

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Cashback
    Interest rate
    4.89 % p.a.
    Fixed 2 years
    Comparison rate
    5.62 % p.a.
    Initial monthly repayment
    $2,651
    Go to site
    • $2,000 cashback for new loans (T&Cs apply)
    • Up to $10,000 extra repayments annually
    • One free residential valuation per application
  • Promoted

    Unloan Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    Interest rate
    5.24 % p.a.
    Variable
    Comparison rate
    5.15 % p.a.
    Initial monthly repayment
    $2,758
    Go to site
    • RATE CUT NOW LIVE!
    • The first home loan with an increasing discount (conditions apply)
    • No application or banking fees
  • Promoted

    Lite Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    Interest rate
    5.54 % p.a.
    Variable
    Comparison rate
    5.56 % p.a.
    Initial monthly repayment
    $2,852
    Go to site
    • Earn Virgin Money Points every month
    • No ongoing home loan fees
    • Make additional repayments and redraw at no extra cost
  • Promoted

    Fixed Rate Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 5% min deposit
    Interest rate
    5.29 % p.a.
    Fixed 2 years
    Comparison rate
    5.67 % p.a.
    Initial monthly repayment
    $2,773
    Go to site
    • 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.
  • Promoted

    Basic Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    • Cashback
    Interest rate
    5.63 % p.a.
    Variable
    Comparison rate
    5.65 % p.a.
    Initial monthly repayment
    $2,880
    Go to site
    • ME Home Loans has confirmed a rate cut of 0.25% p.a. effective 30 August
    • $3,000 cashback when refinancing $700k+ (T&Cs apply)
    • Unlimited free redraw and extra repayments
  • Promoted

    Fixed Rate Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • Interest only
    • 20% min deposit
    Interest rate
    5.29 % p.a.
    Fixed 2 years
    Comparison rate
    5.72 % p.a.
    Initial monthly repayment
    $2,773
    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

  • Discount Fixed Rate

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Cashback
    Interest rate
    4.89 % p.a.
    Fixed 2 years
    Comparison rate
    5.62 % p.a.
    Initial monthly repayment
    $2,651
    Go to site
    • $2,000 cashback for new loans (T&Cs apply)
    • Up to $10,000 extra repayments annually
    • One free residential valuation per application

  • Optimum Fixed Rate Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    Interest rate
    4.99 % p.a.
    Fixed 1 year
    Comparison rate
    5.99 % p.a.
    Initial monthly repayment
    $2,681
    Go to site
    • No application, establishment or monthly fees
    • Make extra repayments up to $20,000 per year
    • Free redraw facility to access additional funds

  • Fixed Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 5% min deposit
    • Redraw available
    • Cashback
    Interest rate
    5.09 % p.a.
    Fixed 2 years
    Comparison rate
    5.69 % p.a.
    Initial monthly repayment
    $2,712
    Go to site
    • Get up to $4,000 cashback (T&Cs apply)
    • Up to 12 months repayments in advance without penalties
    • Split loan available

  • Unloan Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    Interest rate
    5.24 % p.a.
    Variable
    Comparison rate
    5.15 % p.a.
    Initial monthly repayment
    $2,758
    Go to site
    • RATE CUT NOW LIVE!
    • The first home loan with an increasing discount (conditions apply)
    • No application or banking fees

  • Variable Home Loan 90

    • Owner occupier
    • Principal & Interest
    • 10% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.29 % p.a.
    Variable
    Comparison rate
    5.33 % p.a.
    Initial monthly repayment
    $2,773
    Go to site
    • RATE CUT NOW LIVE!
    • No monthly or ongoing fees
    • Option to add an offset for 0.10% p.a.

  • Fixed Rate Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 5% min deposit
    Interest rate
    5.29 % p.a.
    Fixed 2 years
    Comparison rate
    5.67 % p.a.
    Initial monthly repayment
    $2,773
    Go to site
    • 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
    5.29 % p.a.
    Fixed 2 years
    Comparison rate
    5.72 % p.a.
    Initial monthly repayment
    $2,773
    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

  • Discount Great Rate Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    • Cashback
    Interest rate
    5.49 % p.a.
    Variable
    Comparison rate
    5.50 % p.a.
    Initial monthly repayment
    $2,836
    Go to site
    • Get up to $3,000 cashback when you apply online (T&Cs apply)
    • No paperwork or payslips required (see site for details)
    • Low variable rate

  • OMG Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Redraw available
    Interest rate
    5.49 % p.a.
    Variable
    Comparison rate
    5.52 % p.a.
    Initial monthly repayment
    $2,836
    Go to site
    • BCU Bank Home Loans has confirmed a rate cut of 0.25% p.a. effective 2 September
    • No ongoing annual fees
    • Pre-approval valid for 3 months

  • Flex Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.53 % p.a.
    Fixed 2 years
    Comparison rate
    5.86 % p.a.
    Initial monthly repayment
    $2,848
    Go to site
    • Multiple offset accounts available
    • Free extra repayments
    • Easy redraw facility

  • Lite Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    Interest rate
    5.54 % p.a.
    Variable
    Comparison rate
    5.56 % p.a.
    Initial monthly repayment
    $2,852
    Go to site
    • Earn Virgin Money Points every month
    • No ongoing home loan fees
    • Make additional repayments and redraw at no extra cost

  • Budget Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    • Cashback
    Interest rate
    5.54 % p.a.
    Variable
    Comparison rate
    5.57 % p.a.
    Initial monthly repayment
    $2,852
    Go to site
    • IMB Bank Home Loans has confirmed a rate cut of 0.25% p.a. effective 26 August
    • Get up to $4,000 cashback (T&Cs apply)
    • Split loan available

  • Everyday Home Loan

    • Owner occupier
    • Principal & Interest
    • Interest only
    • 20% min deposit
    • Redraw available
    Interest rate
    5.54 % p.a.
    Variable
    Comparison rate
    5.59 % p.a.
    Initial monthly repayment
    $2,852
    Go to site
    • Access unlimited free redraw on extra repayments
    • No monthly account keeping fees
    • Option to split your loan (fee applies)

  • Loaded Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.59 % p.a.
    Variable
    Comparison rate
    5.88 % p.a.
    Initial monthly repayment
    $2,867
    Go to site
    • Earn Virgin Money Points at settlement and every month
    • 100% interest offset
    • Weekly, fortnightly or monthly repayment flexibility
Showing 15 results from 395 home loans. Use the filters to see more

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Whether you’re looking to purchase a new home or refinance your existing loan, our friends at Aussie can help!

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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.

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