Refinance cashback · November 2026
10 of 25 lenders, up to $4,000.
6 lenders are paying a cashback to move your loan, and 4 more pay members only. The first to close is Police Bank’s, for applications by 13 November 2026.
We read each lender’s own offer page on 3 November 2026. A cashback is not a reason to take a dearer rate; the sum that decides that is on the refinance page.
If you're with a big four bank
None of CommBank, ANZ, Westpac or NAB is paying a refinance cashback right now, so the offers below are all from other lenders.
If you're refinancing anyway
10 lenders are paying, up to $4,000. 4 of them only to members.
If an offer is about to close
The next one to close is Police Bank’s, for applications by 13 November 2026. Each row shows its own date.
If the rate is worse
A cashback is paid once; a rate difference is paid every month. The section below works out when one outweighs the other.
The headline amount, the smallest loan that qualifies, the LVR cap, and the last day to apply.
| Lender | Cashback | Min loan | Max LVR | Apply by |
|---|---|---|---|---|
| IMB Bank | $4,000+ | $250,000 | 80% | Until withdrawn |
| ME Bank | $3,000+ | $700,000 | 80% | 7 December 2026 |
| Greater Bank | $3,000+ | $250,000 | 80% | Until withdrawn |
| Newcastle Permanent | $3,000+ | $250,000 | 80% | Until withdrawn |
| Great Southern Bank | $3,000+ | $400,000 | 90% | 1 February 2027 |
| Police Bank | $3,000+* | $300,000 | 80% | 13 November 2026 |
| BankVic | $3,000+* | $350,000 | 80% | Until withdrawn |
| Bank of Queensland | $2,000 | $250,000 | 80% | 28 February 2027 |
| Beyond Bank | $2,000* | $250,000 | Not published | 31 December 2026 |
| Credit Union SA | $2,000* | $300,000 | 80% | Until withdrawn |
| CommBank | None | — | — | — |
| ANZ | None | — | — | — |
| Westpac | None | — | — | — |
| NAB | None | — | — | — |
| St.George | None | — | — | — |
| Bank of Melbourne | None | — | — | — |
| Bankwest | None | — | — | — |
| ING | None | — | — | — |
| Ubank | None | — | — | — |
| Macquarie | None | — | — | — |
| BankSA | None | — | — | — |
| Suncorp Bank | None | — | — | — |
| Bendigo Bank | None | — | — | — |
| AMP Bank | None | — | — | — |
| Woolworths Team Bank | None | — | — | — |
Lender names link to the page we read, or to our page on that lender where there is one. The row with a green dot is the biggest offer. A “+” means the amount steps with the loan size; the tiers are under each lender below. An asterisk marks a mutual whose offer is open to its members only.
Check what refinancing would save on your own loanOpens the chat with this question filled in
A cashback is a one-off payment against a loan that runs for decades, so the comparison is between the lump sum and the rate difference compounding behind it. On a $600,000 loan, a rate 0.20 percentage points above the best available costs about $1,200 a year. A $2,000 cashback covers that for twenty months and then the dearer rate is yours for the rest of the term. The cashback that is worth having sits on a rate within a few points of the best on the panel; the rate monitor shows where each lender sits, and the refinance page does the sum for the balances people ask about.
What the cashback is good for is the switching cost. Leaving a lender costs a discharge fee, two titles office fees and the new lender’s setup fee, which together run to $700 to $1,500. A cashback of that size on a competitive rate makes the switch free, and that is the honest case for it. The discharge pages have each lender’s fee where they publish one.
Read the terms for three things: the minimum loan, because most offers start at $250,000 and step up; the LVR cap, because 80% is common and a loan above it is out; and the clawback, because several lenders take the cashback back if you discharge within a year or two. Investors and interest-only loans are excluded more often than the headline suggests.
One sentence from each lender’s own offer page, then who qualifies and who doesn’t.
CommBank — no offer
“Earn 100,000 Yello Points when you apply online and settle an eligible home loan.”
ANZ — no offer
“Available for eligible First Home Buyers who purchase or construct their first property and take out an Eligible ANZ Home Loan of $250,000 or more.”
Westpac — no offer
“Life-of-loan discount of 2.09% p.a. on a new Flexi First Option home loan on P&I repayments for LVR up to 80%.”
NAB — no offer
“Tailored fixed rate. Fixed rate (2 years) 6.81% p.a. Comparison rate 7.28% p.a.”
St.George — no offer
“Excludes internal refinances and switches within the Westpac Group, which includes Westpac, St.George, Bank of Melbourne and BankSA.”
Bank of Melbourne — no offer
“1.82% p.a. discount off our Basic home loan variable rate.”
Bankwest — no offer
“Refinancing is the process of switching banks to take out a new mortgage to replace your existing one.”
ING — no offer
“Use our refinance calculator to compare rates and find out how much you could save by refinancing your home loan with one of ING's variable rate Home Loans.”
Ubank — no offer
“Move to a home loan that's better for you”
Bank of Queensland — $2,000
“Special limited time $2,000 cashback offer only available for new refinance applications received between 28 August 2026 and 28 February 2027 through a BOQ branch and settle within 120 days of the loan application date.” Eligible: clear Path, Economy or Fixed Rate loans, owner-occupier or investor, refinanced from another lender, through a BOQ branch. Excluded: loans coming from the BOQ Group (BOQ, BOQ Specialist, ME, Virgin Money), anyone paid a BOQ Group cashback in the last 12 months, and owner-occupied interest-only. Paid within 60 days of settlement, into the first borrower's BOQ transaction account; settlement must be within 120 days of applying. Direct applications only.
Macquarie — no offer
Macquarie’s refinance page carries no cashback wording at all.
BankSA — no offer
“This offer is only available for new Owner Occupier Basic Home Loan applications with Principal and Interest repayments received from 24/11/2023.”
Suncorp Bank — no offer
“Suncorp Bank is no longer accepting applications for Home Loans”
ME Bank — $3,000
“A $3,000 cash back offer is available on refinances of an existing home loan from another financial institution to ME Bank with a minimum new lending of $700,000 and a loan to value ratio (LVR) of up to 80%.” $3,000 on new lending of $700,000 or more at up to 80% LVR; a separate $2,000 offer on $400,000 or more between 80% and 95% LVR with LMI. Eligible: refinance from another lender on any ME product, owner-occupier or investor, with a SpendME transaction account; a purchase and refinance together can be combined to reach the minimum. Excluded: loans coming from ME or the BOQ Group, anyone paid a BOQ Group cashback in the last 12 months, and owner-occupied interest-only. The two offers can't be combined. Paid within 60 days of settlement, into a SpendME account; settlement must be within 120 days of applying.
Bendigo Bank — no offer
“Refinance with a bank you can feel better about”
AMP Bank — no offer
“Get more out of your home loan when you refinance with us.”
IMB Bank — $4,000
“$2,000 for loans $250k - $499k, $3,000 for loans $500k - $749k, $4,000 for loans $750k+. Offer is for Eligible Purchase Applications or Eligible Refinance Applications made from 15/05/26 until Offer is withdrawn.” $2,000 on $250,000 to $499,999; $3,000 on $500,000 to $749,999; $4,000 on $750,000 or more. Eligible: refinance from another lender, or a purchase, on the Budget, Essentials or Fixed Rate loans (not the 1 Year Fixed), owner-occupier or investor. Excluded: existing IMB loans, commercial, SMSF, reverse mortgage, construction and bridging loans, and anyone given a discretionary rate instead. One cashback per borrower per 12 months, and half of it is clawed back if you discharge within 12 months. Paid within 60 days of settlement into an IMB transaction account; a refinance must settle within 120 days of IMB accepting the application.
Greater Bank — $3,000
“Online Cashback of $2,500 for eligible home loans $250-$499k or $3,000 for loans ≥$500k. Offer may be varied or withdrawn at any time.” Applying online: $2,500 on $250,000 to $499,999, $3,000 on $500,000 or more. Through a Greater Bank lender: $2,000 and $2,500. Eligible: purchase or refinance from another lender, owner-occupier or investor, principal and interest (interest-only allowed on investment), applying direct. Excluded: loans coming from Greater Bank or Newcastle Permanent, business, construction and bridging loans; the online offer also excludes guarantor loans, more than two borrowers and non-PAYG income. One cashback per borrower per 12 months across the group. Paid within 60 days of settlement online, or 30 days through a lender, into a Greater Bank account. Direct applications only.
Newcastle Permanent — $3,000
“$2,500 cashback for loans $250-$499k or $3,000 for loans ≥$500k. If eligible, cashback payment will be made within 60 days of the loan settlement date (loan must still be open at time of payment).” $2,500 on $250,000 to $499,999; $3,000 on $500,000 or more. Eligible: purchase or refinance from another lender, owner-occupied principal and interest, applying online. Excluded: loans coming from Greater Bank, guarantor loans, more than two borrowers and non-PAYG income. One group cashback per 12 months, and it can't be combined with other promotions. Paid within 60 days of settlement into a Newcastle Permanent deposit account, with the loan still open. Direct applications only.
Great Southern Bank — $3,000
“Great Southern Bank will pay a Cashback Payment of $2,000 for Eligible Loans between $400,000 and $699,999 and a Cashback Payment of $3,000 for Eligible Loans of $700,000 or more.” $2,000 on $400,000 to $699,999; $3,000 on $700,000 or more. Eligible: refinance from another lender, or an investment loan, applying direct. Excluded: home Guarantee Scheme loans, internal refinances, top-ups, business loans, lines of credit, bridging, and anything through a broker. Paid within 90 days of settlement. Direct applications only. Must settle by 30 June 2027.
Police Bank — $3,000 (members only: police and their families)
“Offer Period: 28 Oct 2026 to 13 Nov 2026 (inclusive).” $2,000 on $300,000 to $499,999; $3,000 on $500,000 or more. Eligible: new-to-bank refinances on the Police Value or Goldrate variable-rate loans, owner-occupier or investor, principal and interest. Excluded: any loan with a fixed-rate component, internal refinances, all interest-only, construction and bridging, pre-approvals, company and trust borrowers, and other promotions. Needs an Easy Access account with three salary credits, once per member, and no further cashback for the same borrowers for 12 months. Paid within eight weeks of settlement into a Police Bank account; settlement within 90 days of applying.
BankVic — $3,000 (members only: police, emergency, health and government workers and their families)
“To qualify for the $3,000 cashback offer, your new loan must be drawn down or funded for an amount of at least $350,000.” $3,000 per mortgaged property; $4,000 for current police, or retired police who are already members. Eligible: refinance or purchase, owner-occupier or investor, including construction once fully drawn. Excluded: internal refinances and rewrites, and it can't be combined with another BankVic cashback. Anyone paid a BankVic cashback before may not be eligible. Paid within eight weeks of settlement into a BankVic account; settlement within 180 days of unconditional approval.
Woolworths Team Bank — no offer
“This Offer is available between 27 July 2026 and 30 September 2026 (“Offer Period”).”
Beyond Bank — $2,000 (members only: existing Beyond Bank salary-packaging members, by invitation)
“This is a limited time offer. Applications must be received between 9 July 2026 and 31 December 2026 (inclusive) and home loan must settle before 31 March 2027.” Eligible: owner-occupier and investor loans on any Beyond Bank product, for existing Beyond Bank salary-packaging members invited by Beyond Bank, applying online, by phone or in branch. Excluded: bridging, construction and Land Rent Scheme loans. One per borrower per 12 months, and it can't be combined with another offer. The separate community-organisation offer closed to applications on 30 October 2026. Paid within 30 days of settlement, into a Beyond Bank Mortgage Offset or Purple Transactor account. Direct applications only. Must settle by 31 March 2027.
Credit Union SA — $2,000 (members only: the South Australian education community)
“Find out if our $2,000 home loan cashback is the best option for you. Borrowing a minimum of $300,000 (new borrowings). Borrowing with a loan to value ratio (LVR) of 80% or less.” Eligible: purchase or refinance from another lender, owner-occupied or investment principal and interest, investment interest-only, or the 3-year fixed. Excluded: construction, bridging and 5% Deposit Scheme loans, and owner-occupied interest-only. One per household. Paid at settlement. Direct applications only.
IMB Bank, at $4,000 ($2,000 on $250,000 to $499,999; $3,000 on $500,000 to $749,999; $4,000 on $750,000 or more), as at 3 November 2026. Bank of Queensland, ME Bank, Greater Bank, Newcastle Permanent, Great Southern Bank, Police Bank, BankVic, Beyond Bank and Credit Union SA are also paying. The biggest cashback is rarely the cheapest loan: the table on the refinance page shows what a quarter of a percent is worth over the life of the loan, and it is usually more than the cashback.
Only if the loan behind it is competitive. A $2,000 cashback on a rate 0.20 percentage points higher than the best available costs you about $1,200 a year on a $600,000 loan, so the cashback is gone inside two years and the loan is dearer for the other twenty-eight. Take the cashback when the rate is also within a few points of the best on the panel, and treat it as covering your switching costs — discharge fee, titles office fees, the new lender's setup fee — which is about what it does.
Yes, and lenders know people do it. Two things stop it being free money. Each refinance costs $700 to $1,500 in discharge, registration and setup fees, and a loan discharged inside a year or two may forfeit the cashback under the lender's clawback clause. Every application also lands on your credit file. The people who churn cashbacks and come out ahead are the ones on large loans who track the rate, not just the payment.
It varies by lender: Bank of Queensland pays within 60 days of settlement, into the first borrower's BOQ transaction account; settlement must be within 120 days of applying; ME Bank pays within 60 days of settlement, into a SpendME account; settlement must be within 120 days of applying; IMB Bank pays within 60 days of settlement into an IMB transaction account; a refinance must settle within 120 days of IMB accepting the application; Greater Bank pays within 60 days of settlement online, or 30 days through a lender, into a Greater Bank account; Newcastle Permanent pays within 60 days of settlement into a Newcastle Permanent deposit account, with the loan still open; Great Southern Bank pays within 90 days of settlement; Police Bank pays within eight weeks of settlement into a Police Bank account; settlement within 90 days of applying; BankVic pays within eight weeks of settlement into a BankVic account; settlement within 180 days of unconditional approval; Beyond Bank pays within 30 days of settlement, into a Beyond Bank Mortgage Offset or Purple Transactor account; Credit Union SA pays at settlement. It goes into a transaction account with the new lender, not against the loan, and most offers require that account to be open before settlement.
CommBank: no. ANZ: no. Westpac: no. NAB: no. CommBank, Westpac and NAB withdrew theirs in 2023 when the refinance war cooled, and ANZ's last switching cashback closed to applications on 30 September 2025. The offers that remain are at the smaller banks and mutuals in the table.
Does CommBank have a refinance cashback offer?
CommBank has no refinance cashback at the moment. CommBank's own page says: "Earn 100,000 Yello Points when you apply online and settle an eligible home loan." Checked 3 November 2026.
Does Westpac have a refinance cashback offer?
Westpac has no refinance cashback at the moment. Westpac's own page says: "Life-of-loan discount of 2.09% p.a. on a new Flexi First Option home loan on P&I repayments for LVR up to 80%." Checked 3 November 2026.
Does ANZ have a refinance cashback offer?
ANZ has no refinance cashback at the moment. ANZ's own page says: "Available for eligible First Home Buyers who purchase or construct their first property and take out an Eligible ANZ Home Loan of $250,000 or more." Checked 3 November 2026.
Does NAB have a refinance cashback offer?
NAB has no refinance cashback at the moment. NAB's own page says: "Tailored fixed rate. Fixed rate (2 years) 6.81% p.a. Comparison rate 7.28% p.a." Checked 3 November 2026.
Does St.George have a refinance cashback offer?
St.George has no refinance cashback at the moment. St.George's own page says: "Excludes internal refinances and switches within the Westpac Group, which includes Westpac, St.George, Bank of Melbourne and BankSA." Checked 3 November 2026.
Does Bankwest have a refinance cashback offer?
Bankwest has no refinance cashback at the moment. Bankwest's own page says: "Refinancing is the process of switching banks to take out a new mortgage to replace your existing one." Checked 3 November 2026.
Does Macquarie have a refinance cashback offer?
Macquarie has no refinance cashback at the moment. Macquarie's refinance page carries no cashback wording. Checked 3 November 2026.
Does ME Bank have a refinance cashback offer?
Yes. $3,000 ($3,000 on new lending of $700,000 or more at up to 80% LVR; a separate $2,000 offer on $400,000 or more between 80% and 95% LVR with LMI) on loans of $700,000 or more at up to 80% LVR, for applications by 7 December 2026. ME Bank's own page says: "A $3,000 cash back offer is available on refinances of an existing home loan from another financial institution to ME Bank with a minimum new lending of $700,000 and a loan to value ratio (LVR) of up to 80%." Eligible: refinance from another lender on any ME product, owner-occupier or investor, with a SpendME transaction account; a purchase and refinance together can be combined to reach the minimum. Excluded: loans coming from ME or the BOQ Group, anyone paid a BOQ Group cashback in the last 12 months, and owner-occupied interest-only. The two offers can't be combined. Paid within 60 days of settlement, into a SpendME account; settlement must be within 120 days of applying. Checked 3 November 2026.
Does Bank of Queensland have a refinance cashback offer?
Yes. $2,000 on loans of $250,000 or more at up to 80% LVR, for applications by 28 February 2027. Bank of Queensland's own page says: "Special limited time $2,000 cashback offer only available for new refinance applications received between 28 August 2026 and 28 February 2027 through a BOQ branch and settle within 120 days of the loan application date." Eligible: clear Path, Economy or Fixed Rate loans, owner-occupier or investor, refinanced from another lender, through a BOQ branch. Excluded: loans coming from the BOQ Group (BOQ, BOQ Specialist, ME, Virgin Money), anyone paid a BOQ Group cashback in the last 12 months, and owner-occupied interest-only. Paid within 60 days of settlement, into the first borrower's BOQ transaction account; settlement must be within 120 days of applying. Checked 3 November 2026.
Does IMB Bank have a refinance cashback offer?
Yes. $4,000 ($2,000 on $250,000 to $499,999; $3,000 on $500,000 to $749,999; $4,000 on $750,000 or more) on loans of $250,000 or more at up to 80% LVR, until withdrawn. IMB Bank's own page says: "$2,000 for loans $250k - $499k, $3,000 for loans $500k - $749k, $4,000 for loans $750k+. Offer is for Eligible Purchase Applications or Eligible Refinance Applications made from 15/05/26 until Offer is withdrawn." Eligible: refinance from another lender, or a purchase, on the Budget, Essentials or Fixed Rate loans (not the 1 Year Fixed), owner-occupier or investor. Excluded: existing IMB loans, commercial, SMSF, reverse mortgage, construction and bridging loans, and anyone given a discretionary rate instead. One cashback per borrower per 12 months, and half of it is clawed back if you discharge within 12 months. Paid within 60 days of settlement into an IMB transaction account; a refinance must settle within 120 days of IMB accepting the application. Checked 3 November 2026.
Does Suncorp Bank have a refinance cashback offer?
Suncorp Bank has no refinance cashback at the moment. Suncorp Bank's own page says: "Suncorp Bank is no longer accepting applications for Home Loans" Checked 3 November 2026.
Checked 3 November 2026 against each lender’s own offer page, linked in the table; re-read monthly and on every expiry date above. Offers are withdrawn and changed without notice, so confirm with the lender before you rely on a row. A cashback is a promotion, not credit advice.
A broker at 1st Street sees every lender’s offer the same day, including the ones that are broker-only, and knows which rate is behind each one.
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