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™ | Interest Rate  2.87 % p.a Variable | Comparison Rate* 2.91 % p.a | Repayment $1,402 monthly | Real Time Rating™ | 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™ | Interest Rate 3.44 % p.a Variable | Comparison Rate* 3.83 % p.a | Repayment $1,492 monthly | Real Time Rating™ | 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™ | Interest Rate 3.07 % p.a Variable | Comparison Rate* 3.11 % p.a | Repayment $1,434 monthly | Real Time Rating™ | 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™ | Interest Rate 5.09 % p.a Fixed - 2 years | Comparison Rate* 4.83 % p.a | Repayment $1,770 monthly | Real Time Rating™ | 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™ | Interest Rate 2.72 % p.a Variable | Comparison Rate* 2.73 % p.a | Repayment $1,379 monthly | Real Time Rating™ | 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™ | Interest Rate 2.95 % p.a Variable | Comparison Rate* 2.96 % p.a | Repayment $1,415 monthly | Real Time Rating™ | 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™ | Interest Rate 5.19 % p.a Fixed - 2 years | Comparison Rate* 5.08 % p.a | Repayment $1,787 monthly | Real Time Rating™ | 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™ | Interest Rate 2.99 % p.a Variable | Comparison Rate* 3.03 % p.a | Repayment $748 monthly | Real Time Rating™ | Go to site | Cashback Get up to $4,000 cashback when you refinance ~ Ends in 3 months |
Company | Product Package Real Time Rating™ | Interest Rate 3.12 % p.a Variable | Comparison Rate* 3.37 % p.a | Repayment $780 monthly | Real Time Rating™ | Go to site | Cashback Receive $3,288 when you refinance min of $250k |
Company | Product Home Loan Package Real Time Rating™ | Interest Rate 2.69 % p.a Variable | Comparison Rate* 3.12 % p.a | Repayment $1,375 monthly | Real Time Rating™ | Go to site | special $5,000 First Home Buyers Grant on eligible loans |
Company | Product Home Loan Package Real Time Rating™ | Interest Rate 3.04 % p.a Variable | Comparison Rate* 3.46 % p.a | Repayment $760 monthly | Real Time Rating™ | Go to site | special $5,000 First Home Buyers Grant on eligible loans |
Company | Product Discount Home Loan Real Time Rating™ | Interest Rate 2.68 % p.a Variable | Comparison Rate* 3.13 % p.a | Repayment $1,373 monthly | Real Time Rating™ | 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™ | Interest Rate 3.34 % p.a Variable | Comparison Rate* 3.54 % p.a | Repayment $835 monthly | Real Time Rating™ | 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™ | Interest Rate 3.04 % p.a Variable | Comparison Rate* 3.20 % p.a | Repayment $1,429 monthly | Real Time Rating™ | 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™ | Interest Rate 3.34 % p.a Variable | Comparison Rate* 3.29 % p.a | Repayment $835 monthly | Real Time Rating™ | Go to site | Cashback $2500 cashback when you refinance. ~ Ends in about 2 months |
Company | Product Package Real Time Rating™ | Interest Rate 2.87 % p.a Variable | Comparison Rate* 3.30 % p.a | Repayment $1,402 monthly | Real Time Rating™ | Go to site | Cashback Receive $3,288 when you refinance min of $250k |
Company | Product Package Real Time Rating™ | Interest Rate 2.92 % p.a Variable | Comparison Rate* 3.35 % p.a | Repayment $1,410 monthly | Real Time Rating™ | Go to site | Cashback Receive $3,288 when you refinance min of $250k |
Company | Product Special Residential Real Time Rating™ | Interest Rate 2.89 % p.a Variable | Comparison Rate* 2.95 % p.a | Repayment $1,406 monthly | Real Time Rating™ | Go to site | Cashback Refinance your home or investment property and get $3000 as cashback* |
Company | Product Package Real Time Rating™ | Interest Rate 2.97 % p.a Variable | Comparison Rate* 3.40 % p.a | Repayment $1,418 monthly | Real Time Rating™ | 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™ | Interest Rate 3.04 % p.a Variable | Comparison Rate* 3.44 % p.a | Repayment $1,429 monthly | Real Time Rating™ | 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™ | Interest Rate 2.94 % p.a Variable | Comparison Rate* 3.00 % p.a | Repayment $1,413 monthly | Real Time Rating™ | Go to site | Cashback Refinance your home or investment property and get $3000 as cashback* |
Company | Product Special Residential Real Time Rating™ | Interest Rate 2.99 % p.a Variable | Comparison Rate* 3.05 % p.a | Repayment $1,421 monthly | Real Time Rating™ | 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™ | Interest Rate 3.09 % p.a Variable | Comparison Rate* 3.49 % p.a | Repayment $1,437 monthly | Real Time Rating™ | 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™ | Interest Rate 3.34 % p.a Variable | Comparison Rate* 3.40 % p.a | Repayment $835 monthly | Real Time Rating™ | Go to site | Cashback Refinance your home or investment property and get $3000 as cashback* |
Company | Product Home Package Plus Real Time Rating™ | Interest Rate 2.89 % p.a Variable | Comparison Rate* 3.30 % p.a | Repayment $1,406 monthly | Real Time Rating™ | Go to site | special Home Package Plus Annual Fee reimbursed for the life of the loan. |
Company | Product Package Real Time Rating™ | Interest Rate 2.92 % p.a Variable | Comparison Rate* 3.35 % p.a | Repayment $1,410 monthly | Real Time Rating™ | Go to site | Cashback Receive $3,288 when you refinance min of $250k |
Company | Product Variable Rate Home Loan Real Time Rating™ | Interest Rate 2.89 % p.a Variable | Comparison Rate* 2.91 % p.a | Repayment $1,406 monthly | Real Time Rating™ | 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.
| Lender | Qantas Frequent flyer (QFF) points bonus | Interest rate | Comparison rate | Offer |
| Macquarie Bank Basic Flyer Home Loan | Up to 170,000 QFF points when you borrow $600k | 2.54% | 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 Loan | 150 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.
