Home loan refinance cashback offers & deals
While we finally saw rate cuts in the first six months of 2025, many Aussies may still be shopping around for a more competitive home loan, and many banks and lenders offer incentives to customers who’re looking to refinance. Here we round up a selection of the latest home loan deals and sign-up offers from lenders on our database.

While we finally saw rate cuts in the first six months of 2025, many Aussies may still be shopping around for a more competitive home loan, and many banks and lenders offer incentives to customers who’re looking to refinance. Here we round up a selection of the latest home loan deals and sign-up offers from lenders on our database.
February of 2025 saw the Reserve Bank of Australia (RBA) cut the cash rate for the first time in more than four years, and the central bank cut rates again in May, offering a measure of relief to variable home loan rate borrowers.
It remains unclear how many more rate cuts we will see in 2025, but Aussies already seem to be in a refinancing mood, with the number of home loan refinances following the February rate cut at an 18-month high.
If you’re shopping around for a cheaper rate, then you may be interested in some of the sign-up deals lenders on our database have on offer for new customers, particularly those that come with bonus refinance cashback.
That said, while special offers can be attractive for some customers, it’s generally not worth signing up for a particular product solely for a special deal. The fundamental aspects of the loan, such as its interest rate, fees and features, are still important considerations.
Compare Home Loans with Canstar
If you’re currently considering a home loan, the comparison table below displays some of the loans offering Cashback, Points and Offers. It shows variable and 1,2,3,4 &5-year fixed rate home loans on our database that are available for homeowners looking to refinance. This table is sorted by products from our Online Partners, then by Star Rating (highest to lowest), followed by provider name (alphabetically). Products shown are principal and interest home loans available for a loan amount of $500,000 in NSW with an LVR of 80% , 70% or 60% or less of the property value. Consider the Target Market Determination (TMD) before making a purchase decision. Contact the product issuer directly for a copy of the TMD. Use Canstar’s home loans comparison selector to view a wider range of home loan products. If a “more details” or “go to broker” button is shown, the provider is one of Canstar’s Online partners. Canstar may earn a fee for referrals.
The comparison rate for all home loans and loans secured against real property are based on secured credit of $150,000 and a term of 25 years.
^WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
Up to $4,000 when you take out a IMB home loan. Minimum loan amounts and LVR restrictions apply. Offer available until further notice. See provider website for full details. Exclusions, terms and conditions apply.
Up to $2,500 when you refinance with a Greater Bank home loan. Minimum loan amounts and LVR restrictions apply. Offer available until further notice. See provider website for full details. Exclusions, terms and conditions apply.
Up to $4,000 when you take out a IMB home loan. Minimum loan amounts and LVR restrictions apply. Offer available until further notice. See provider website for full details. Exclusions, terms and conditions apply.
Earn $2,000 when you refinance with a Tiimely Home home loan. Minimum loan amounts and LVR restrictions apply. Offer available until further notice. See provider website for full details. Exclusions, terms and conditions apply.
$2,000 when you take out a Tiimely Home home loan. Minimum loan amounts and LVR restrictions apply. Offer available until further notice. See provider website for full details. Exclusions, terms and conditions apply.
Canstar may earn a fee for referrals from its website tables, and from Sponsorship or Promotion of certain products. Fees payable by product providers for referrals and Sponsorship or Promotion may vary between providers, website position, and revenue model. Sponsorship or Promotion fees may be higher than referral fees. Sponsored or Promoted products are clearly disclosed as such on website pages. They may appear in a number of areas of the website such as in comparison tables, on hub pages and in articles. Sponsored or Promoted products may be displayed in a fixed position in a table, regardless of the product’s rating, price or other attributes. The table position of a Sponsored or Promoted product does not indicate any ranking or rating by Canstar. For more information please see How We Get Paid.
Canstar is an information provider and in giving you product information Canstar is not making any suggestion or recommendation about a particular product. If you decide to apply for a home loan, you will deal directly with a financial institution, not with Canstar. Rates and product information should be confirmed with the relevant financial institution. Home Loans in the table include products that are available for somebody borrowing 80%, 70% or 60% or less of the total loan amount. For product information, read our detailed disclosure, important notes and additional information. *Read the comparison rate warning. The results do not include all providers and may not compare all the features available to you.
Home Loan products displayed above that are not “Sponsored or Promoted” are sorted as referenced in the introductory text followed by Star Rating, then lowest Comparison Rate, then alphabetically by company. Canstar may receive a fee for referral of leads from these products.
When you click on the button marked “Enquire” (or similar) Canstar will direct your enquiry to a third party mortgage broker. If you decide to find out more or apply for a home loan, you can provide your details to the broker. You will liaise directly with the broker and not with Canstar. When you click on a button marked “More details” (or similar), Canstar will direct your enquiry to the product provider. Canstar may earn a fee for referral of leads from the comparison table above. See How We Get Paid for further information.
Best home loan cashback offers and deals
Home loan cashback offers typically involve a bank or lender offering you an incentive to take out one of its products. You may receive this in cash, or it can be taken out of the fees you’d otherwise be charged. You may also receive it in the form of gift cards for certain stores or brands.
Here’s a selection of home loan providers on our database offering some form of cashback offer or rebate at the time of writing, but please note that any of these offers may be withdrawn by the provider at any time.
Before committing to a particular home loan or lender, it’s a good idea to read the Key Facts Sheet (KFS), Target Market Determination (TMD) and other applicable product documentation. You may also want to confirm the full details of any particular offer with the lender before you make an application.
ANZ – $2000 refinance cashback
ANZ is offering $2,000 cashback when you refinance an eligible home loan of $250,000 and up. The offer is available for loans with an LVR of up to 80%, and the applicant must have an ANZ Access Advantage, ANZ One Offset or ANZ Plus account in the name of the borrower or borrowers at the time of drawdown to receive this offer. Further eligibility requirements and T&Cs apply.
Expires: Offer valid until further notice.
Greater Bank – Up to $2,500 cashback
Up to $2,500 cashback available on eligible new home and investment property purchases, as well as refinancing from other lenders. $2,000 cashback is available for loans of $250,000 or more with LVR of less than or equal to 80%, and $2,500 cashback is available for loans of $500,000 or more with LVR of less than or equal to 80%. Further eligibility requirements and T&Cs apply.
Expires: Offer valid until further notice.
IMB Bank – Up to $4,000 refinance cashback
$2,000 cashback on eligible home loan refinances to IMB with a loan amount of $250,000 to $499,000, $3,000 on refinances with a loan amount of $500,000 to $749,000 and $4,000 on refinances with a loan amount of more than $750,000. LVR for all loans must be 80% or less. The offer is valid until further notice. There is a limit of one cashback per eligible application per 12-month period. Exclusions and T&Cs apply.
Expires: Offer valid until further notice.
ME Bank – $3,000 refinance cashback
ME is offering $3,000 cashback to refinancers who take out a home loan of at least $700,000 with a maximum LVR of 80%. The offer is open to owner occupiers and investors who settle within 120 days of the application date. The offer is not available on refinances from ME or from other lenders within the Bank of Queensland Group, including BOQ and Virgin Money Australia. Offer excludes construction loans and owner-occupied loans with interest-only repayments. T&Cs apply and further eligibility requirements may also apply.
Expires: Offer valid until further notice.
Newcastle Permanent – Up to $3,000 refinance cashback
$2,000 cashback on eligible home loan refinances to Newcastle Permanent with a loan amount of $250,000 to $499,000, or $3,000 on refinances with a loan amount of $500,000 and above. LVR for all loans must be 80% or less. The offer is valid until further notice and excludes refinances from Greater Bank, part of NGM Group. There is a limit of one cashback per eligible application per 12-month period. Exclusions and T&Cs apply.
Expires: Offer valid until further notice.
Reduce Home Loans – Up to $3,000 cashback
Reduce home loans is offering $2,000 cashback on eligible purchases and refinances between $250,000 and $499,000 and $3,000 cashback on eligible purchases and refinances of $500,000 and over. Loans must have a Loan to Value Ratio (LVR) of less than or equal to 80% (including any capitalised fees & charges). Applications must be made by 20 September, 2025 and settled by 30 November, 2025. Exclusions and T&Cs apply.
Expires: Applications must be made by 20 September, 2025 and settled by 30 November, 2025.
Regional Australia Bank – $2,000 cashback
Regional Australia Bank is offering $2,000 cash back for loans of $300,000 and over. The offer applies to new eligible home loans with an LVR of 80% or lower. Applications must be made by 30 September, 2025 and funded by 31 December, 2025. The cash back amount will be paid to your eligible Community Partnership Account within 90 days of the loan being funded. Exclusions and T&Cs apply.
Expires: Applications must be received by and approved by 30 September, 2025 and funded by 31 December, 2025.
First home loan offers and deals
ANZ – $3,000 first home buyer cashback
A $3,000 cashback bonus is available to help with the costs of buying a first home. The bonus is available for first home buyers who purchase or construct a property with an eligible ANZ home loan of $250,000 or more. Drawdown must be within 180 days of application. T&Cs apply and further eligibility criteria may also apply.
Expires: Available until further notice.
Source: The information was taken from the website of lenders as at 1 July 2025. All offers may be subject to change or withdrawal at any time.
Are refinance cashback offers worth it?
If you feel that the rates and fees on your current home loan are too much, or if you’re ready for a change, then you might be considering refinancing, and a refinance cashback deal can seem like a nice incentive.
Keep in mind, though, that banks and lenders offer these deals because they want to attract your business, so before committing, it is important to do some research and find out if you are actually going to be getting a good deal.
Ultimately, it may not be worth picking a lender and its product just because the sign-up offer looks good. After all, $1,000 cashback when you take out your loan may not ultimately prove to be good value if you are paying an interest rate higher than you could find elsewhere.
As a hypothetical example, according to Canstar’s home loan repayment calculator, over the life of a $600,000 principal and interest loan repaid over 30 years with monthly repayments, a borrower would pay $824,798 in total interest with an interest rate of 7.00%, and $695,029 with an interest rate of 6.00%. That extra percentage point may not seem significant, but over 30 years, it can mean a difference of $129,769 in interest.
The fees charged and the features that come with the loan (e.g. an offset account, or being able to make extra repayments without penalty) could also play a part in determining whether a loan with a cashback offer for signing up is likely to be a good deal overall.
It is a good idea to do your own research, compare different home loan products and lenders, and decide which home loan is best for you based on what you need, even if it doesn’t have a sign-up offer attached.
How to find the best home loan cashback offers?
When weighing up potential home loan cashback offers and trying to find a suitable one for you, it may help to weigh up the pros and cons of each offer. Some potential upsides of refinance cashback offers can include:
- The bonus cash can cover the costs of switching you loan: There are costs associated with switching home loans, and the cash back you receive from your new provider could be helpful in covering this.
- An incentive to shop around: If you’ve been with the same home loan provider for a while and are feeling like you’re paying too much, a cashback offer can provide an incentive to switch.
- Bonus cash to spend on whatever you want: If the costs associated with breaking your current home loan are minimal, and you find a new provider with a loan that suits your needs, then the bonus cashback can be a nice boost.
It’s important to keep in mind some potential downsides though:
- Costs of breaking your current loan: Breaking out of a home loan can be costly, especially if you are leaving a variable rate loan early, and depending on your current provider, the break fees you’re charged could be more expensive than the cashback you receive.
- Risk of switching to an unsuitable product: Before you take up a cashback offer, it’s worth weighing up the interest rate of the new home loan, as well as the fees and charges associated, as you may find the loan is not as competitive as others on the market.
- Strict eligibility criteria: The eligibility criteria for refinance cashback can be strict, so it’s important to make sure you’ll actually qualify before committing to a new home loan provider.
What is the average monthly mortgage repayment in Australia?
If you’re wondering how your mortgage stacks up, Canstar crunched the numbers based on Australian Bureau of Statistics (ABS) lending indicators and found that the average mortgage repayment in Australia might sit at around $4,223 a month. This assumes an interest rate of 6.53%, based on the current average variable rate on Canstar’s database, and a loan amount of $600,000. If you haven’t updated your home loan in a while, or if you think your repayments are creeping above average, refinancing to a cheaper rate may be one potential solution to save.
How to apply for a cashback home loan?
The process of applying for a home loan refinance is similar to that of applying for any other home loan. Canstar has a checklist of things to do when applying for a home loan, but in general, once you have done your research and found a suitable home loan option, you will either be able to apply with the new lender online, at a branch, or by visiting a mortgage broker.
When you apply, you will be expected to provide information including:
- Your personal details (ID, passport, etc)
- Details of your employment status
- Details of your earnings, typically including payslips
- Bank and credit card statements
- A breakdown of your assets and liabilities
- A breakdown of your household expenses
- Details of your current home loan and property
Whether you are a first home buyer, refinancing or buying your next home, Canstar’s Home Loan Star Ratings and Awards can help you get an overall picture of which home loans – including fixed and variable loans for owner-occupiers and investors – may offer outstanding value.
If you are thinking about refinancing an existing home loan and want to get an idea of which loans you may be eligible for, Canstar’s eligibility checker tool can help you understand your options and connect you with a mortgage broker.
The comparison rate for all home loans and loans secured against real property are based on secured credit of $150,000 and a term of 25 years.
^WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
Up to $4,000 when you take out a IMB home loan. Minimum loan amounts and LVR restrictions apply. Offer available until further notice. See provider website for full details. Exclusions, terms and conditions apply.
Canstar may earn a fee for referrals from its website tables, and from Sponsorship or Promotion of certain products. Fees payable by product providers for referrals and Sponsorship or Promotion may vary between providers, website position, and revenue model. Sponsorship or Promotion fees may be higher than referral fees. Sponsored or Promoted products are clearly disclosed as such on website pages. They may appear in a number of areas of the website such as in comparison tables, on hub pages and in articles. Sponsored or Promoted products may be displayed in a fixed position in a table, regardless of the product’s rating, price or other attributes. The table position of a Sponsored or Promoted product does not indicate any ranking or rating by Canstar. For more information please see How We Get Paid.
Main image source: zstock/Shutterstock.com
This article was reviewed by our Editor-in-Chief Nina Rinella before it was updated, as part of our fact-checking process.

Alasdair Duncan is Canstar's Content Editor, specialising in home loans, property and lifestyle topics. He has written more than 500 articles for Canstar and his work is widely referenced by other publishers and media outlets, including Yahoo Finance, The New Daily, The Motley Fool and Sky News. He has featured as a guest author for property website homely.com.au.
In his more than 15 years working in the media, Alasdair has written for a broad range of publications. Before joining Canstar, he was a News Editor at Pedestrian.TV, part of Australia’s leading youth media group. His work has also appeared on ABC News, Junkee, Rolling Stone, Kotaku, the Sydney Star Observer and The Brag. He has a Bachelor of Laws (Honours) and a Bachelor of Arts with a major in Journalism from the University of Queensland.
When he is not writing about finance for Canstar, Alasdair can probably be found at the beach with his two dogs or listening to podcasts about pop music. You can follow Alasdair on LinkedIn.
The comparison rate for all home loans and loans secured against real property are based on secured credit of $150,000 and a term of 25 years.
^WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
Try our Home Loans comparison tool to instantly compare Canstar expert rated options.
The comparison rate for all home loans and loans secured against real property are based on secured credit of $150,000 and a term of 25 years.
^WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.