ubank now offering $5,000 cashback to new home loan customers
Digital lender ubank, a subsidiary of NAB, is now offering new home loan customers and refinancers up to $5,000 when they sign up — among the most generous cashback offers from lenders we track.
Chief lending product officer at ubank, Kanishka Raja, said the bank has seen a 78% increase in digital home loan applications, as Australians scramble to beat inflation by getting a better deal on their mortgages.
The cashback offer is available to eligible customers who apply for a new loan or refinance their existing one by 28 February 2023 and settle by 30 April 2023.
Customers borrowing between $250,000 and $1 million will receive $4,000 cash back while those taking out loans higher than $1 million will get $5,000 in their pocket.
Importantly, all loans must have a loan-to-value ratio of 80% or less to be eligible, and the offer does not extend to those refinancing from within the NAB Group.
If you’re wondering how ubank’s current offerings compare to other home loans on the market, we’ve highlighted just a few products and their features below.
For a look at other offers, browse our home loan comparison page, where you'll be able to filter your search by rate and type.
* 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.
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