Bank of Queensland · refinance cashback
Apply by 28 February 2027.
Bank of Queensland pays $2,000 when you refinance to it from another lender. You need at least 20% equity in the property. Who qualifies and the catch are below.
From Bank of Queensland’s offer terms, read 11 October 2026.
How much
$2,000 on loans of $250,000 or more.
Which loans
Clear Path, Economy or Fixed Rate loans, owner-occupier or investor, refinanced from another lender, through a BOQ branch. Direct applications only.
Not eligible, and the catch
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.
When it’s paid
Within 60 days of settlement, into the first borrower's BOQ transaction account; settlement must be within 120 days of applying.
From the page we read, so you can check us.
Bank of Queensland
“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.”
A cashback is a one-off payment against a loan that runs for decades. On a $600,000 loan, a rate 0.20 percentage points above the best available costs about $1,200 a year, so $2,000 is spent inside 20 months and the dearer loan is yours for the rest of the term. Where Bank of Queensland’s rates sit against every lender we track is on the rate monitor, and the refinance page does the sum for the balances people ask about.
What it does cover is the cost of leaving your current lender: a discharge fee, two titles office fees and Bank of Queensland’s setup fee, together $700 to $1,500. The discharge pages have each lender’s form and fee, including BOQ’s.
Who else is paying, as at 11 October 2026.
No cashback as at 11 October 2026: Bank of Melbourne, ING, Ubank, BankSA, Bendigo Bank, AMP Bank, Woolworths Team Bank.
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." Checked 11 October 2026.
Clear Path, Economy or Fixed Rate loans, owner-occupier or investor, refinanced from another lender, through a BOQ branch. Not eligible: 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. The offer is for direct applications only.
Within 60 days of settlement, into the first borrower's BOQ transaction account; settlement must be within 120 days of applying. It goes into a BOQ transaction account, not against the loan. Check the terms for a clawback: several lenders take the cashback back if the loan is discharged within a year or two.
Applications must be in by 28 February 2027. Lenders extend and withdraw these without notice; the date here is from Bank of Queensland's own page on 11 October 2026.
Only if the rate behind it is competitive. On a $600,000 loan a rate 0.20 percentage points above the best available costs about $1,200 a year, so a $2,000 cashback is spent inside 20 months and the dearer loan is yours for the rest of the term. Use it to cover the switching costs on a rate that is already good, not to justify a rate that isn't.
Yes. ME Bank pays up to $3,000, IMB Bank pays up to $4,000, Greater Bank pays up to $3,000, Newcastle Permanent pays up to $3,000, Great Southern Bank pays up to $3,000, Police Bank pays up to $3,000, BankVic pays up to $3,000 as at 11 October 2026. The full table is on the cashback page.
Checked against Bank of Queensland’s own page on 11 October 2026. Offers are withdrawn and changed without notice; if something here doesn’t match what they’ve told you, theirs is right and we’d like to know. A cashback is a promotion, not credit advice.
A broker at 1st Street can tell you what rate sits behind the offer, and whether another lender beats it once the cashback is spent.
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