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

By Jasmine Gearie · · 5 min read
Fact Checked
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A young family leaving their house.

If you’re looking to refinance your home loan, there are a number of lenders that reward you for switching.

One way this happens 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 to IMB Bank.

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

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

Cashback home loans

IMB Bank

  • IMB Bank Budget Home Loan | Receive $4,000 cashback when you refinance a home loan of $750,000 or more. Get $3,000 cashback for loans between $500,000 and $749,000, or $2,000 for loans between $250,000 and $499,000. Must have an LVR <80% (T&Cs apply).

ANZ

  • 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

  • ANZ Plus Home Loan Variable | Receive $2,000 cashback when you refinance an eligible non-ANZ home loan of $250,000 or more. Must be before 31 March, 2025 (T&Cs apply).

ME

  • ME Basic Home Loan | Receive $2,000 cashback when you refinance a home loan of between $400,000 and $700,000, or $3,000 cashback when you refinance a home loan worth more than $700,000. Only available to borrowers with an LVR <80% who settle within 120 days (T&Cs apply).

BankVic

  • BankVic Special Offer Variable Home Loan | Police and emergency service workers can receive $2,000 cashback when refinancing an existing home loan of $200,000 or more. Only available to borrowers with an LVR <80% (T&Cs apply).

Greater Bank

  • Greater Bank Discount Great Rate Home Loan | Receive $2,000 cashback when you refinance a home loan of $250,000 or more, or $2,500 cashback when you refinance a home loan of $500,000 or more. Must have an LVR <80% (T&Cs apply)

Newcastle Permanent

Qantas Points earning home loans

Qantas Money

Qudos Bank

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? To help you start comparing we’ve wrapped up some competitive cashback offers below.

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

    Unloan Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    Interest rate
    5.74 % p.a.
    Variable
    Comparison rate
    5.65 % p.a.
    Initial monthly repayment
    $2,915
    Go to site
    • RATE CUT NOW LIVE!
    • The first home loan with an increasing discount (conditions apply)
    • No application or banking fees
  • Promoted

    Variable Home Loan 90

    • Owner occupier
    • Principal & Interest
    • 10% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.79 % p.a.
    Variable
    Comparison rate
    5.83 % p.a.
    Initial monthly repayment
    $2,931
    Go to site
    • RATE CUT NOW LIVE!
    • No monthly or ongoing fees
    • Option to add an offset for 0.10%
  • Promoted

    OMG Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Redraw available
    Interest rate
    5.74 % p.a.
    Variable
    Comparison rate
    5.77 % p.a.
    Initial monthly repayment
    $2,915
    Go to site
    • No ongoing annual fees
    • Pre-approval valid for 3 months

  • Basic Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 30% min deposit
    • Redraw available
    Interest rate
    5.55 % p.a.
    Fixed 2 years
    Comparison rate
    5.85 % p.a.
    Initial monthly repayment
    $2,855
    Go to site
    • No ongoing fees
    • Free redraw from your loan using Macquarie Online.
    • No application or account management fees

  • Offset Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 30% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.55 % p.a.
    Fixed 2 years
    Comparison rate
    6.08 % p.a.
    Initial monthly repayment
    $2,855
    Go to site
    • Open up to 10 offset accounts
    • No fee to redraw or split into multiple loan accounts
    • Variable and fixed rates available

  • Fixed Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 5% min deposit
    • Redraw available
    • Cashback
    Interest rate
    5.69 % p.a.
    Fixed 2 years
    Comparison rate
    6.00 % p.a.
    Initial monthly repayment
    $2,899
    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
    5.74 % p.a.
    Variable
    Comparison rate
    5.65 % p.a.
    Initial monthly repayment
    $2,915
    Go to site
    • RATE CUT NOW LIVE!
    • The first home loan with an increasing discount (conditions apply)
    • No application or banking fees

  • Simple Home Loan Variable

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Redraw available
    Interest rate
    5.74 % p.a.
    Variable
    Comparison rate
    5.74 % p.a.
    Initial monthly repayment
    $2,915
    Go to site
    • No application, ongoing or monthly fees
    • Make additional repayments at any time
    • Access your money via internet banking at any time

  • OMG Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Redraw available
    Interest rate
    5.74 % p.a.
    Variable
    Comparison rate
    5.77 % p.a.
    Initial monthly repayment
    $2,915
    Go to site
    • No ongoing annual fees
    • Pre-approval valid for 3 months

  • Fixed Rate Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 5% min deposit
    Interest rate
    5.74 % p.a.
    Fixed 2 years
    Comparison rate
    5.96 % p.a.
    Initial monthly repayment
    $2,915
    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.
Showing 8 results from 417 home loans. Use the filters to see more

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.

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