Home Loan Cashback Deals, July 2026
Current cashback offers across the Australian panel, sorted by comparison rate. A cashback is a one-off payment for taking out or refinancing a loan, currently up to $4,000, but the rate matters more over time. Refreshed daily.
RBA cash rate 4.35%(effective 17 Jun 2026)|Rates updated |929 products|85+ Australian lenders
Editor's Pick · Ratesniffers Editorial Team
Top Home Loan Rates in July 2026
Reviewed by the Ratesniffers Editorial Team, July 2026
The sharpest home loan rates that also pay a cashback. A cashback suits refinancers who will hold the loan a few years, long enough to bank the cash before any rate premium catches up. Refreshed daily, no commercial filtering.
Type
Lender & product
Rate p.a.
Comp. rate p.a.*
Max LVR
Variable rate
Greater Bank LimitedDiscounted Great Rate Home Loan - Variable Owner Occupied
5.94%
5.95%
—
Fixed rate
IMB Bank2 year Fixed Rate Home Loan
6.24%
6.31%
95%
Discounted Great Rate Home Loan - Variable Owner Occupied
Owner-occupierVariableP&IRedrawExtra repayments$2,500 cashback
Interest
5.94%p.a.
14d ago
Comparison*
5.95%p.a.
Monthly repayment
$2,978
LVR —
OnlineME Bank EconoME Home Loan
Owner-occupierVariableP&IRedrawExtra repayments$3,000 cashback
Cashback eligibility
- Min loan $700,000
- Max LVR 80%
- Aggregate split refi loans to meet $700k minimum (same customer, same submission)
- Mixed refi + purchase apps eligible — one $3k per application
- Excludes BOQ Group refis + recipients of BOQ refi cashback in last 12 months
- Offer ends 28 Aug 2026 · lender T&Cs
Interest
5.99%p.a.
Comparison*
6.03%p.a.
Monthly repayment
$2,995
LVR 70–80%
ANZ Simplicity PLUS
Owner-occupierVariableP&IRedrawExtra repayments$3,000 cashback
Interest
6.01%p.a.
Comparison*
6.05%p.a.
Monthly repayment
$3,001
LVR 70–80%
Economy Variable Home Loan
Owner-occupierVariableP&IRedrawExtra repayments$2,000 cashback
Interest
6.03%p.a.
Comparison*
6.07%p.a.
Monthly repayment
$3,007
LVR 70–80%
Essentials Home Loan
Owner-occupierVariableP&IOffsetRedrawExtra repayments$4,000 cashback
Interest
6.04%p.a.
Comparison*
6.08%p.a.
Monthly repayment
$3,011
LVR 71–80%
*Important Information and Comparison Rate 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 based on a loan of $150,000 over a term of 25 years.
The information provided on this site is general in nature and does not take into account your objectives, financial situation or needs. Before acting on any information, consider whether it is appropriate for you and read the relevant Credit Guide and lender disclosures.
What is a home loan cashback?
A cashback is a one-off cash payment a lender gives you for taking out or refinancing a home loan, usually paid within a month or two of settlement. As of 8 July 2026, Ratesniffers is tracking cashback offers from $2,000 to $4,000 across 5 lenders. It is a marketing incentive, so the real question is whether the cashback beats a sharper rate over the life of the loan.
Which lenders offer cashback right now?
As of 8 July 2026, the lenders with a live cashback offer on the Ratesniffers panel are Greater Bank Limited, ME Bank - ME Go, ANZ, Bank of Queensland Limited, IMB Bank. Cashback deals change often, so the table above always reflects what is current, ranked by comparison rate so you can see the true cost alongside the cash.
Is a cashback home loan worth it?
Only when the cashback outweighs any rate premium. The test: work out the extra interest a higher-rate cashback loan costs over the years you will actually hold it, then compare it to the cash. On a $500,000 loan a rate 0.15% higher costs about $750 a year, so a $3,000 cashback is used up in roughly four years. Today the lowest rate that includes a cashback is 5.94% p.a., versus 5.89% for the sharpest rate overall, so compare the two before deciding. Frequent refinancers tend to come out ahead on cashback; long-term holders usually do better on the lower rate. Estimate your own case with the refinance savings calculator.
Cashback home loan questions, answered
What is a home loan cashback?
A cashback is a one-off cash payment a lender gives you for taking out or refinancing a home loan with them, typically paid a few weeks after settlement. Amounts on the Australian market usually run from $2,000 to $4,000. It is a marketing incentive, so it is worth weighing against the rate, because a slightly higher rate can cost more over time than the cashback returns.
Which lenders offer home loan cashback right now?
As of 8 July 2026, Ratesniffers is tracking cashback offers from 5 lenders: Greater Bank Limited, ME Bank - ME Go, ANZ, Bank of Queensland Limited, IMB Bank. Offers range from $2,000 to $4,000 and change frequently, so the live table above always shows what is current.
Is a cashback home loan worth it?
Only if the cashback outweighs any rate premium. Work out the extra interest the cashback loan costs over the time you will realistically hold it, then compare that to the cashback. On a $500,000 loan, a rate that is 0.15% higher costs about $750 a year, so a $3,000 cashback is eaten up in roughly four years. If you refinance often, cashback can win; if you hold the loan long term, the sharper rate usually does.
How does refinance cashback work?
Most cashback offers are aimed at refinancers switching an existing loan from another lender. You apply, settle the refinance, meet the offer's conditions (a minimum loan size and loan-to-value ratio are common), and the lender pays the cashback into your account, usually within 30 to 60 days. Watch for clawback clauses that let the lender recover the cashback if you leave within a set period.
Do I pay tax on a home loan cashback?
For an owner-occupier, a cashback is generally treated as a reduction in borrowing cost rather than assessable income, so it is usually not taxed. For an investment loan the treatment can differ. This is general information, not tax advice, so confirm your own position with an accountant.
Next: compare refinance rates (where most cashback offers apply), see the cheapest rates overall, or read the guide on whether cashback deals are worth it.