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Home loan cashback deals for March 2021

Home loan cashback deals for March 2021

2021 has gotten off to an action-packed start for both investors and owner-occupiers. With housing prices continuing to rise across Australia, borrowing activity increasing and mortgage interest rates simultaneously falling, many borrowers are starting to experience a fear of missing out

But there’s more than just low rates you may miss out on if you’re not doing your research. There are currently a range of deals on offer for new mortgage customers, including cashback perks, bonus credit card rewards points and reduced LMI.

Let’s explore some of the home loan deals on offer for March 2021.

What deals are on offer this month?

Cashback deals

Once again, the majority of cashback deals on offer are for refinancers, with 17 of 24 cashback offers from lenders available to refinancers only. Some lenders are offering cashback deals to first home buyers as well, but refinancers are primarily being targeted by home loan lenders through these deals.

Depending on your loan size, cashback deals can range between $1,000 and $5,000. A lender may offer it to you in the form of cash in your bank account, as a gift card or it may be subtracted from your home loan balance or upfront fees. The latter of which may potentially be able to help refinancers reduce some of the costs associated with refinancing.

Company
Product

Real Deal Home Loan

Real Time Rating™

4.03

/ 5
Interest Rate

2.87

% p.a

Variable

Comparison Rate*

2.91

% p.a

Repayment

$1,402

monthly

Real Time Rating™

4.03

/ 5
Go to site

Cashback

Refinance and get up to $3,000 cashback. $2,000 cashback on loans ≥$250K; bonus $1,000 cashback on loans ≥$500K. LVR ≤90%. Limited time offers extended. T&Cs apply. ~ Ends in 3 months
Company
Product

Premium Plus Package Variable Rate

Real Time Rating™

3.00

/ 5
Interest Rate

3.44

% p.a

Variable

Comparison Rate*

3.83

% p.a

Repayment

$1,492

monthly

Real Time Rating™

3.00

/ 5
Go to site

Cashback

Refinance and get up to $3,000 cashback. $2,000 cashback on loans ≥$250K; bonus $1,000 cashback on loans ≥$500K. LVR ≤90%. Limited time offers extended. T&Cs apply. ~ Ends in 3 months
Company
Product

Real Deal Home Loan

Real Time Rating™

3.65

/ 5
Interest Rate

3.07

% p.a

Variable

Comparison Rate*

3.11

% p.a

Repayment

$1,434

monthly

Real Time Rating™

3.65

/ 5
Go to site

Cashback

Refinance and get up to $3,000 cashback. $2,000 cashback on loans ≥$250K; bonus $1,000 cashback on loans ≥$500K. LVR ≤90%. Limited time offers extended. T&Cs apply. ~ Ends in 3 months
Company
Product

Premium Plus Package Fixed Rate

Real Time Rating™

2.01

/ 5
Interest Rate

5.09

% p.a

Fixed - 2 years

Comparison Rate*

4.83

% p.a

Repayment

$1,770

monthly

Real Time Rating™

2.01

/ 5
Go to site

Cashback

Refinance and get up to $3,000 cashback. $2,000 cashback on loans ≥$250K; bonus $1,000 cashback on loans ≥$500K. LVR ≤90%. Limited time offers extended. T&Cs apply. ~ Ends in 3 months
Company
Product

Back to Basics Home Loan Special Offer

Real Time Rating™

4.49

/ 5
Interest Rate

2.72

% p.a

Variable

Comparison Rate*

2.73

% p.a

Repayment

$1,379

monthly

Real Time Rating™

4.49

/ 5
Go to site

Cashback

Receive $3,000 cash when you take out a Suncorp Bank home loan of $750K or more with LVR <=90%. Apply by 30 November 2022, settle by 28 February 2023. Unless withdrawn prior. T&Cs & eligibility criteria apply. ~ Ends in 5 months
Company
Product

Back to Basics Home Loan Special Offer

Real Time Rating™

4.14

/ 5
Interest Rate

2.95

% p.a

Variable

Comparison Rate*

2.96

% p.a

Repayment

$1,415

monthly

Real Time Rating™

4.14

/ 5
Go to site

Cashback

Receive up to $4,000 cash when you take out an eligible Suncorp Bank home loan. Receive either $3K by taking out a Suncorp Bank home loan of $750K+ or $4K by taking out a Suncorp Bank home loan of $1m+ with LVR ≤90%. Apply by 30 November 2022, settle by 28 February 2023. Unless withdrawn prior. T&Cs & eligibility criteria apply. ~ Ends in 5 months
Company
Product

Fixed Rate Home Loan

Real Time Rating™

1.50

/ 5
Interest Rate

5.19

% p.a

Fixed - 2 years

Comparison Rate*

5.08

% p.a

Repayment

$1,787

monthly

Real Time Rating™

1.50

/ 5
Go to site

Cashback

Refinance and get up to $3,000 cashback. $2,000 cashback on loans ≥$250K; bonus $1,000 cashback on loans ≥$500K. LVR ≤90%. Limited time offers extended. T&Cs apply. ~ Ends in 3 months
Company
Product

First Home Loan

Real Time Rating™

3.68

/ 5
Interest Rate

2.99

% p.a

Variable

Comparison Rate*

3.03

% p.a

Repayment

$748

monthly

Real Time Rating™

3.68

/ 5
Go to site

Cashback

Get up to $4,000 cashback when you refinance ~ Ends in 3 months
Company
Product

Package

Real Time Rating™

3.29

/ 5
Interest Rate

3.12

% p.a

Variable

Comparison Rate*

3.37

% p.a

Repayment

$780

monthly

Real Time Rating™

3.29

/ 5
Go to site

Cashback

Receive $3,288 when you refinance min of $250k
Company
Product

Home Loan Package

Real Time Rating™

4.02

/ 5
Interest Rate

2.69

% p.a

Variable

Comparison Rate*

3.12

% p.a

Repayment

$1,375

monthly

Real Time Rating™

4.02

/ 5
Go to site

special

$5,000 First Home Buyers Grant on eligible loans
Company
Product

Home Loan Package

Real Time Rating™

3.02

/ 5
Interest Rate

3.04

% p.a

Variable

Comparison Rate*

3.46

% p.a

Repayment

$760

monthly

Real Time Rating™

3.02

/ 5
Go to site

special

$5,000 First Home Buyers Grant on eligible loans
Company
Product

Discount Home Loan

Real Time Rating™

4.11

/ 5
Interest Rate

2.68

% p.a

Variable

Comparison Rate*

3.13

% p.a

Repayment

$1,373

monthly

Real Time Rating™

4.11

/ 5
Go to site

Cashback

Receive a cashback of $3000 ~ Ends in 3 months
Company
Product

AMP Bank Professional Package Investment (Interest Only) (< $500k)

Real Time Rating™

3.08

/ 5
Interest Rate

3.34

% p.a

Variable

Comparison Rate*

3.54

% p.a

Repayment

$835

monthly

Real Time Rating™

3.08

/ 5
Go to site

Cashback

Receive up to $5,000 cashback for a limited time available for new refinance home loan applications ~ Ends in about 2 months
Company
Product

Reward Me Variable Rate Home Loan

Real Time Rating™

3.80

/ 5
Interest Rate

3.04

% p.a

Variable

Comparison Rate*

3.20

% p.a

Repayment

$1,429

monthly

Real Time Rating™

3.80

/ 5
Go to site

Cashback

$2500 cashback when you refinance. ~ Ends in about 2 months
Company
Product

Reward Me Variable Rate Home Loan

Real Time Rating™

2.77

/ 5
Interest Rate

3.34

% p.a

Variable

Comparison Rate*

3.29

% p.a

Repayment

$835

monthly

Real Time Rating™

2.77

/ 5
Go to site

Cashback

$2500 cashback when you refinance. ~ Ends in about 2 months
Company
Product

Package

Real Time Rating™

4.10

/ 5
Interest Rate

2.87

% p.a

Variable

Comparison Rate*

3.30

% p.a

Repayment

$1,402

monthly

Real Time Rating™

4.10

/ 5
Go to site

Cashback

Receive $3,288 when you refinance min of $250k
Company
Product

Package

Real Time Rating™

4.00

/ 5
Interest Rate

2.92

% p.a

Variable

Comparison Rate*

3.35

% p.a

Repayment

$1,410

monthly

Real Time Rating™

4.00

/ 5
Go to site

Cashback

Receive $3,288 when you refinance min of $250k
Company
Product

Special Residential

Real Time Rating™

4.07

/ 5
Interest Rate

2.89

% p.a

Variable

Comparison Rate*

2.95

% p.a

Repayment

$1,406

monthly

Real Time Rating™

4.07

/ 5
Go to site

Cashback

Refinance your home or investment property and get $3000 as cashback*
Company
Product

Package

Real Time Rating™

3.90

/ 5
Interest Rate

2.97

% p.a

Variable

Comparison Rate*

3.40

% p.a

Repayment

$1,418

monthly

Real Time Rating™

3.90

/ 5
Go to site

Cashback

Receive $3,288 when you refinance min of $250k
Company
Product

AMP Bank Professional Package Home Loan (Principal and Interest) ($100k+) (Owner Occupied)

Real Time Rating™

3.99

/ 5
Interest Rate

3.04

% p.a

Variable

Comparison Rate*

3.44

% p.a

Repayment

$1,429

monthly

Real Time Rating™

3.99

/ 5
Go to site

Cashback

Receive up to $5,000 cashback for a limited time available for new refinance home loan applications ~ Ends in about 2 months
Company
Product

Special Residential

Real Time Rating™

3.98

/ 5
Interest Rate

2.94

% p.a

Variable

Comparison Rate*

3.00

% p.a

Repayment

$1,413

monthly

Real Time Rating™

3.98

/ 5
Go to site

Cashback

Refinance your home or investment property and get $3000 as cashback*
Company
Product

Special Residential

Real Time Rating™

3.88

/ 5
Interest Rate

2.99

% p.a

Variable

Comparison Rate*

3.05

% p.a

Repayment

$1,421

monthly

Real Time Rating™

3.88

/ 5
Go to site

Cashback

Refinance your home or investment property and get $3000 as cashback*
Company
Product

AMP Bank Professional Package Home Loan (Principal and Interest) ($100k+) (Owner Occupied)

Real Time Rating™

3.89

/ 5
Interest Rate

3.09

% p.a

Variable

Comparison Rate*

3.49

% p.a

Repayment

$1,437

monthly

Real Time Rating™

3.89

/ 5
Go to site

Cashback

Receive up to $5,000 cashback for a limited time available for new refinance home loan applications ~ Ends in about 2 months
Company
Product

Special Residential

Real Time Rating™

2.87

/ 5
Interest Rate

3.34

% p.a

Variable

Comparison Rate*

3.40

% p.a

Repayment

$835

monthly

Real Time Rating™

2.87

/ 5
Go to site

Cashback

Refinance your home or investment property and get $3000 as cashback*
Company
Product

Home Package Plus

Real Time Rating™

3.71

/ 5
Interest Rate

2.89

% p.a

Variable

Comparison Rate*

3.30

% p.a

Repayment

$1,406

monthly

Real Time Rating™

3.71

/ 5
Go to site

special

Home Package Plus Annual Fee reimbursed for the life of the loan.
Company
Product

Package

Real Time Rating™

3.77

/ 5
Interest Rate

2.92

% p.a

Variable

Comparison Rate*

3.35

% p.a

Repayment

$1,410

monthly

Real Time Rating™

3.77

/ 5
Go to site

Cashback

Receive $3,288 when you refinance min of $250k
Company
Product

Variable Rate Home Loan

Real Time Rating™

3.96

/ 5
Interest Rate

2.89

% p.a

Variable

Comparison Rate*

2.91

% p.a

Repayment

$1,406

monthly

Real Time Rating™

3.96

/ 5
Go to site

Cashback

$2000 Refinance Cashback ~ Ends in 8 months

Reduced LMI

Lenders mortgage insurance (LMI) can be one of the biggest costs associated with a home loan, and if you’ve not saved a deposit of at least 20 per cent, you may find yourself paying tens of thousands of dollars in LMI. For first home buyers, particularly in Sydney or Melbourne, a 20 per cent deposit can mean saving hundreds of thousands of dollars, which can be unrealistic for many.

St George, however, is offering to reduce the cost of LMI to $1 if you’re an eligible first home buyer with a 15 per cent deposit, looking for an owner-occupier home loan, and planning on making principal and interest repayments.

According to St. George, the eligibility requirements include:

  • “Be a first home buyer applying for your first home loan for your first property
  • Apply for a home loan with St. George from Monday 13 July 2020
  • Your home loan has an LVR up to 85 per cent at the time of formal approval
  • Loan size must not be over $850,000
  • For joint applications, only one applicant needs to be a first home buyer
  • Only one property financed per application.”

Qantas frequent flyer points

It’s not just home loan perks you may be able to snatch up. You may be able to earn bonus Qantas frequent flyer points when you sign up for a home loan.

Macquarie Bank and Qudos Bank currently offer a home loan sign-up deal that rewards borrowers with Qantas Points. These points may be available at the time of approval or released over your loan term.

Plus, you won’t need to spend on eligible purchases to earn these reward points bonuses.

LenderQantas Frequent flyer (QFF) points bonusInterest rateComparison rateOffer
Macquarie Bank Basic Flyer Home LoanUp to 170,000 QFF points when you borrow $600k2.54%2.54%10k QFF points for every $100k loan drawn, 1000 QFF points per month for the life of the loan, 25,000 QFF points on the third and fifth anniversary of your loan.
Qudos Bank Qantas Points Home Loan150 QFF for every $1000 of loan balance, no minimum loan balance.2.84%2.84%Earn 150 Qantas Points for every $1,000 on your loan balance p.a., credited monthly. No minimum loan balance – earn points for the life of your loan.

Source: RateCity.com.au. Data accurate as of 10/03/2021.

Keep in mind that there is more to a home loan than a deal being offered to you, and it’s always important to compare the interest rates, fees and features of a loan before applying. For more information on whether one of the above loans may suit your finances, consider using our Home Loan Calculator to see how potential repayments could fit in your budget.

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This article was reviewed by Personal Finance Editor Mark Bristow before it was published as part of RateCity's Fact Check process.

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