Cashback Home Loans and Home Loan Cashback Offers, October 2026

Current lender cashback, rebates and fee offers

As at 4 October 2026, the current lender campaign register contains 14 home-loan offers. Cash offers range from $1,000 to $3,000, alongside fee waivers, fee refunds and pricing concessions. Offers can change or be withdrawn without notice, so confirm eligibility and full terms before applying.

Offer register last checked 4 October 2026. Comparison rates and product eligibility still determine whether an offer is good value for a particular loan.

What is a refinance cashback?

A refinance cashback is a one-off payment a lender makes when you move an existing home loan to them, usually paid into your account within a couple of months of settlement. As at 4 October 2026, the verified offer register lists cash offers from $1,000 to $3,000, each with its own loan size, LVR and settlement conditions.

Which lenders are paying cashback in October 2026?

As at 4 October 2026, the lenders with a current cash offer in the register are ANZ, Bank of China, BCU, Credit Union SA, ME, People First Bank, P&N Bank. The table above shows each offer's recorded conditions and end date. Two patterns run through the whole register:

• Most cash offers are for refinances only, or for refinances and purchases, and sit at or under 80% LVR. Borrowers with less than 20% equity mostly fall outside them, with one LMI-linked exception listed above.
• Every cash offer sets a minimum loan size, currently from $250,000 up to $700,000 in the register. A smaller loan does not qualify no matter how sharp the rate.

Fee waivers, rate discounts and annual-fee refunds are listed in the same table but are not cashback. They lower the cost of the loan rather than paying money out, so weigh them through the comparison rate instead.

Who qualifies for a refinance cashback?

Eligibility is set offer by offer, but the conditions that appear most often in the register are:

• A minimum loan amount. The register's floors currently run from $250,000 to $700,000.
• A maximum LVR, almost always 80%. That means at least 20% equity in the property at the new lender's valuation, not your own estimate.
• Loan purpose. Many offers are refinance only; some also cover purchases; some exclude construction or internal switches from the same lender.
• Settlement by a fixed date. An offer with a listed end date usually needs the loan to settle, not just be approved, before that date.
• Membership or employment tests for the mutual lenders' rebates (essential services, education, specific employer groups).

Cashback is separate from the lender's credit assessment. Meeting the offer terms does not mean the application is approved, and a lender can decline the loan or offer a different product tier that the cashback does not attach to.

Does the lender take the cashback back if I leave?

Some offer terms include a clawback: if the loan is discharged, refinanced away or paid out within a set period after settlement, the lender can recover part or all of the cashback. Where a clawback exists, it is in the offer terms, not in the comparison rate, so read the terms for the specific offer before relying on the cash.

Leaving also has its own costs. The outgoing lender charges a discharge fee, the state charges mortgage registration and discharge fees, and a fixed-rate loan can carry break costs that run to thousands of dollars. The guide on the hidden costs of refinancing lists them.

How does a cashback interact with the rate?

A cashback is paid once. The interest rate is paid every month for as long as you hold the loan. That is the whole trade. A lender can afford to pay a cashback because a slightly higher ongoing rate recovers it over time, so the test is the same every time:

1. Take the difference in comparison rate between the cashback loan and the sharpest comparable loan you would otherwise choose.
2. Multiply by the loan balance to get the extra interest per year.
3. Divide the cashback by that figure. The result is the number of years before the cash is used up.

If you will realistically hold the loan longer than that, the sharper rate wins. If you refinance regularly and can meet the conditions each time, the cashback can win. The refinance savings calculator nets the cashback and switching costs off against interest saved so the comparison is a single number.

Worked methodology, not a quote: on a $500,000 balance, every 0.10% of rate difference is about $500 a year in interest. A cashback of $3,000 against a rate that is 0.15% higher is therefore used up in roughly 4 years. Rates and offers change, so run your own figures on the live table.

Cashback or a sharper rate: a decision checklist

• Under 20% equity? Most cash offers are closed to you. Compare low deposit home loans on rate instead.
• Loan under the register's minimum? The cashback does not apply. Compare on comparison rate.
• Fixed rate with more than a year to run? Get the break cost in writing first; it can exceed the cashback.
• Planning to hold the loan for five years or more? A lower comparison rate usually beats a one-off payment.
• Planning to refinance again within two years? Check the clawback period before counting the cash.
• Self-employed or credit-impaired? Cashback offers are generally written for full-documentation, clean-file applications. See low doc and self employed home loans and refinancing with bad credit.

Cashback home loan questions, answered

Next: compare refinance home loan rates where most of these offers apply, see how to judge the best home loan rate for your situation, browse comparison scenarios, or read the cashback catch. Talk it through on a free call at book a call.