Refinance Cashback Home Loan Offers - Updated October 2021!

Who doesn’t like a great deal! With record low interest rates in Australia’s history, banks are fiercely competing with each other to attract new customers everyday. This means low interest rates with great features as well as cashback offers when you refinance!

Update (4 Oct 21): Redzed has ended their cashback offer. Westpac Group has extended their cashback offers.
Update (3 Sep 21): Most lenders have extended their cash back offers!

Australia's best home loan and refinance cashback offers - October 2021

Below is the latest list (as of October 2021) of lenders that are currently offering cashback for refinancing. We sorted it by lenders who are offering the most.

BEWARE! Not all lenders are equal when it comes to assessing your personal financial circumstances and valuing the property you own!

It is best to work with an experienced cash back mortgage broker like Reservoir Finance to ensure you have the highest chance of getting a loan (and cashback) along with the best rates and loan products that suit your circumstances! We also do not charge upfront fees to 99% of our clients!

Reservoir Finance Exclusive Cashback
(on top of the lender cashback offers below!)

home loans for doctors cashback promotion

Medical Professionals
Up to $2000 cashback

Apply by 30 Jun 21 with Reservoir Finance.
Minimum Loan Amount = $250,000
One Cashback per customer.
Medical Professionals only – Learn more here

T’s and C’s apply

Lender Cash Back Offers - October 2021

citibank logo white bg

Citibank - Up to $4000 cashback

Apply by 31 Oct 21. Settle by 31 Jan 22.
Minimum Amount = $750,000
One Cashback per applicant
Challenges – High credit scores preferred

rams-logo-1

RAMS - Up to $4000 cashback

Apply by 30 Sep 21. Settle by 30 Nov 21.
Minimum Amount = $250,000
One Cashback per customer
Challenges – No attractive niches

reservoirfinancelenders-westpac

Westpac - Up to $3000 cashback

Apply by 30 Nov 21. Settle by 31 Jan 22.
Minimum Amount = $250,000
One Cashback per application.
Challenges – Difficult valuation

ANZ-logo-logotype

ANZ - Up to $3000 cashback

Apply by 23 Nov 21. Settle by 22 Jan 22.
Minimum Amount = $250,000.
One Cashback per person
Challenges – Long loan processing time

mystatebank logo

MyStateBank - Up to $3000 cashback

Apply by 31 Oct 21. Settle by 31 Jan 22.
Minimum Amount = $250,000
One Cashback per applicant.
Challenges – Simple deals only

greatsouthernbanklogo

Great Southern Bank - Up to $3000 cashback

Apply by 31 Oct 21. Settle by 31 Jan 22.
Minimum Amount = $250,000
One Cashback per applicant.
Challenges – Longer processing time

reservoirfinancelenders-ing

ING - Up to $3000 cashback

Apply by 31 Dec 21. Settle by 31 Mar 22.
Minimum Amount = $500,000
One Cashback per customer.
Challenges – Not suited for all types of home buyers

bank of queensland logo cashback

Bank of Queensland - Up to $5000 cashback

Apply by 31 Oct 21. Settle by 28 Jan 22.
Minimum Amount = $250,000.
One Cashback per person
Challenges – No attractive niches

virginmoneyresized

Virgin Money - Up to $3000 cashback

Apply by 30 Nov 21. Settle by 27 Feb 22.
Minimum Amount = $300,000
One cashback per customer
Challenges – Not an Authorised Deposit-taking Institute

stgeorgelogo2

St George - Up to $3000 cashback

Apply by 30 Nov 21. Settle by 28 Feb 22.
Minimum Amount = $250,000.
One Cashback per applicant
Challenges – Difficult valuation

suncorp logo

Suncorp - Up to $3000 cashback

Apply by 30 Nov 21. Settle by 28 Feb 22.
Minimum Amount = $750,000.
One Cashback per applicant
Challenges – Tough credit assessment

BoM-resized3

Bank of Melbourne - Up to $3000 cashback

Apply by 30 Nov 21. Settle by 28 Feb 22.
Minimum Amount = $250,000
One Cashback per applicant
Challenges – Long loan processing time

banksalogo

BankSA - Up to $3000 cashback

Apply by 30 Nov 21. Settle by 28 Feb 22.
Minimum Amount = $250,000
One Cashback per applicant
Challenges – Long loan processing time

reservoirfinancelenders-bankwest

Bankwest - Up to $2000 cashback

Apply by 25 Feb 22. Settle by 30 Apr 22.
Minimum Amount = $250,000
One Cashback per person
Challenges – High credit scores preferred

nab resized

NAB - Up to $2000 cashback

Settle by 31 Oct 21.
Minimum Amount = $250,000
One cashback per applicant
Challenges – High credit scores preferred

cba resized

CommBank - Up to $2000 cashback

Apply by 31 Dec 21. Settle by 31 Mar 22.
Minimum Amount = $250,000
One cashback per applicant
Challenges – Long loan processing time

ME Bank logo

ME Bank - Up to $3000 cashback

Apply by 29 Oct 21. Settle by 31 Dec 21.
Minimum Amount = $250,000
One Cashback per customer.
Challenges – Not suited for all types of home buyers

amp logo

AMP - Up to $3000 cashback

Apply by 31 Oct 21. Settle by 22 Dec 21.
Minimum Amount = $500,000
One cashback per applicant
Challenges – Not suited for all types of home buyers

Are cash back mortgages a good idea? Will I save money?

Cash back mortgages are generally a good idea when you select the right lender for your circumstances. It can save you thousands of dollars in both the short term and long term. For example, if you are on a home loan with a high interest rate and no offset, refinancing to a lender who offers cashback, 100% offset account and lower interest rates will save you a lot of money! Also, it is good to be always asking yourself, “how will lenders make that money back”? In general, they rely on the laziness of borrowers who do not seek to refinance and may charge higher interest rates in the future. If you are working with a diligent mortgage broker such as Reservoir Finance, we will be keeping track of the market very closely. If we find other lenders offering better deals, we will reach out and present you with some offers to consider. This also depends on your personal circumstances as you might be seeking to refinance a home loan today, but tomorrow if you are planning to sell, the type of loan you have can affect how much money you may need to spend (such as break fees for a fixed home loan).

What other offers are there?

Cashbacks aren’t the only types of promotions that banks offers. Other lender promotions include: When you stack this with exclusive promotions from Reservoir Finance might offer (such as our free property reports, no fees and free assessments of your personal circumstances), you can be saving even more money and be well equipped to navigate the Australian financial system to achieve your goals!

Are you a cash back mortgage broker? Can you help guide me for the best loan?

Yes! Reservoir Finance is a mortgage broker who specialises in working with cash back lenders such as the ones listed above. We seek to partner with Australians to help them achieve their financial goals and dreams. We are a values based online mortgage broker who always puts our clients first. This is why we do not charge any fees unlike other mortgage brokers (less than 1% of our applications attract any fees). When you work with us, we will be transparent and honest with you, especially if you are stretching beyond your means to service a loan. We encourage a unique philosophy of responsible borrowing (not lending) which means leveraging responsibly to increase your wealth.

Contact us today using the form below or call us for an obligation free assessment of your eligibility for loans and we will also provide you with some options for your to move forward with your home ownership, business or investing journey.


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