30 Cashback Loans this September, 2022
Last updated on September 23rd, 2022
On the first Tuesday of September, the Reserve Bank of Australia once again raised interest rates for a fourth month. Because of this, it is no surprise that you’re looking to switch to a lower-rate home lender. In addition, you may also be looking at possible cashback deals to make your refinancing process more valuable.
After their September policy meeting, the RBA raised its cash rate by 50 basis points, bringing it to 2.35%. This is the most drastic tightening ever since the early 90s. This comes after an accumulated 225 basis of points of hikes since May.
If you are looking for refinancing, you’re in for a good treat this month. There are a total of 30 cashback loans being offered. Moreover, two are specific to new purchases plus other benefits for which you may qualify.
September Cashback Deals
As many as 30 lenders are offering cash back home loan deals to eligible clients this September. Note that cashback deals can come in the following forms:
- Deposited money in your account
- Reduced principal owing
- Gift cards
There’s a wide range of cashback loans up for grabs. These can range from $1,000 to $10,000 and is dependent on the size of your home loan.
These cashback deals are specifically aimed at refinancers. Because once you’ve chosen, the deal can help you cover the fees for switching. It can also provide an additional budget for new appliances or even home upgrades.
You may explore some of the deals available to you via the chart below:
| Lender | Additional Information |
| HSBC | Up to $3,288 cashback available when you refinance from a financial institution other than HSBC Bank Australia. based on an application received in full by 31 October 2022 and settled by 31 December 2022. The offer is only available once per customer and a minimum refinance amount of $250,000 applies. The offer is available for refinances to eligible HSBC home loan products. HSBC says the offer excludes construction loans, bridging loans and principal increases, as well as loans to non-residents and non-natural persons (such as trusts and companies). Check with HSBC for full T&Cs. Expires: 31/10/2022.
|
| UBank | $3,000 cashback for eligible new customers (including refinancers) who apply for an owner-occupier or investor loan of at least $250,000, or $4,000 cashback for a loan amount of at least $1,000,000 by 30 November 2022. The maximum LVR for this offer is 80%. Eligibility criteria, exclusions and other T&Cs apply.
Expires: 30/11/2022.
|
| AMP | AMP is offering up to $5,000 cashback for eligible new refinance home loan applications received by 30 September 2022 and settled by 31 December 2022. This offer is available on variable Professional Package, AMP First, Essential and Basic Home Loan products only, with a minimum refinance amount of $250,000 for a $2,000 cashback bonus, and a minimum of $1 million for $5,000 cashback. The cashback must be paid into an AMP bank offset account or AMP Access account, and will be paid within 60 days of the settlement date. If you do not have one of these accounts at the time of settlement, the money will be paid into your home loan account. T&Cs apply.
Expires: 30/09/2022.
|
| Bank of Melbourne | $4,000 cashback when you apply to refinance by 31 October 2022 and settle by 31 January 2023. The offer is available for owner-occupier (P&I repayments) and residential investment loans with a loan-to-value ratio (LVR) of up to 80%. The offer is available on Bank of Melbourne’s Advantage Package home loans, with a $395 annual fee, and its Basic Home Loans, which have no annual fee. The offer is available for refinances of $250,000 and up, and is available only once per primary applicant within a 12-month period. The offer excludes refinances from within the Westpac Group. T&Cs apply.
Expires: 31/10/2022.
|
| Bank SA | $4,000 cashback when you apply to refinance by 31 October 2022 and settle by 31 January 2023. The offer is available for owner-occupier (P&I repayments) and residential investment loans with an LVR of up to 80%. The offer is available on BankSA’s Advantage Package home loans, with a $395 annual fee, and its Basic Home Loans, which have no annual fee. The offer is available for refinances of $200,000 and up, and is available only once per primary applicant within a 12-month period. The offer excludes refinances from within the Westpac Group. T&Cs apply.
Expires: 31/10/2022.
|
Find out which cashback offer you are eligible for by comparing 35+ lenders and banks.
Click here and complete your details to find out which Cashback offer you qualify for >
Lower Lender’s Mortgage Insurance
Cashback deals are also available to you if you’re a first home buyer. Some of these may come in a different form rather than cash in your account.
One of which is a waived Lender’s Mortgage Insurance (LMI). LMI is paid when a home buyer deposits an amount below 20% of the property’s value. You may know this already, but LMI is one of the most expensive upfront costs when you buy a property.
If you’re an eligible first home buyer, you may want to consider the offers below from lenders this month:
- George: If you’re a first home buyer, a 15% deposit will entitle you to just $1 LMI.
- BOQ: If you’re an owner-occupier or an investor first home buyer, you may be eligible for their $1 LMI. Do note that approvals are only limited to those making a minimum of 15% deposit for home loans up to $1 million.
- UBank: You may be eligible for only a loan-to-value ratio of 85% without paying LMI.
Special Offer: Qantas frequent flyer points
If you like to travel, consider the Qantas Points Home Loan from Qudos Bank. You may earn up to 200,000 QFF points when you apply for a new loan from 01/04/22-30/06/22 and settle by 30/09/22.
Make the most out of your refinancing process. Let Makes Cents help you pick the best home loan for you.
Nowadays, being smart about your finances is a must. Refinancing can be tedious, but you can make the best out of the refinancing process when you find great cashback loans.
Compare home loans from over 35 lenders on our website now and take advantage of cashback offers.
