Score 300,000 bonus Qantas Points through ANZ’s latest home loan promotion
Boost your points balance and go in the running to win $500,000 off your loan.
ANZ has announced a new home loan promotion that gives eligible applicants 300,000 bonus Qantas Points.
The new promotion will see you earn the bonus Qantas points within 90 days of loan settlement.
It's available to refinancers, investors and first home buyers applying for a new home loan of over $300,000 and to those applying through an accredited broker. To be eligible, you'll need to apply by 31 August 2019 and settle your loan by 31 January 2020.
In addition to the bonus Qantas Points offer, applicants will also automatically go into the draw to win $500,000 off their home loan. There are five of these prizes in total and the winners will be notified 18 February 2020.
You don't need to be a Qantas Frequent Flyer member to be eligible for this offer as you'll receive instructions to join for free after the loan settles.
What home loans are eligible for this promotion?
Three of ANZ's home loans are eligible for this promotion. Each one has slightly different rates, fees and features:
- The ANZ Simplicity Plus Loan. This is a basic variable rate home loan with no offset account, but it comes with a redraw facility and the ability to make extra repayments at any time with no extra costs. Rates for this loan start as low as 3.38% p.a. with a comparison rate of 3.42% p.a. for owner-occupiers borrowing 80% or less of the property value.
- The ANZ Fixed Rate Loan. As the name suggests, this loan offers a range of fixed-rate terms, including one, two, three and five years. Rates for this loan start as low as 3.18% p.a. with a comparison rate of 4.60% p.a. for a 2 year fixed rate on an owner-occupier loan with the ANZ Breakfree package (which comes with a $395 annual fee).
- The ANZ Standard Variable Rate Loan. This home loan has a variable rate, offset account, redraw facility and allows extra repayments with no extra fees.
What can you do with 300,000 Qantas Points?
You can use 300,000 Qantas Points for a wide range of flights, which you can see below. Note that as of 18 September 2019, premium seat redemptions using Qantas Points will rise by up to 15% as part of the overhaul to the program announced in June.
- Four return flights from Melbourne to Tokyo - 252,000 points plus $1,059.36 in taxes, fees and charges
- Four return flights from Sydney to Fiji (Nadi) - 144,000 points plus $1201.36 in taxes, fees and charges
- Two return flights from Sydney to New York - 220,800 points plus $675.28 in taxes, fees and charges
- Three return flights from Sydney to Johannesburg - 225,600 points plus $1087.02 in taxes, fees and charges
- Three return flights from Sydney to Auckland - 216,000 points plus $658.02 in taxes, fees and charges
- One return flight from Sydney to London - 256,000 points plus taxes, fees and charges
- Two return flights from Sydney/Brisbane/Melbourne to Denpasar (Bali) - 200,000 points plus taxes, fees and charges
- Four return flights from Sydney/Melbourne/Brisbane to Perth - 288,000 points plus taxes, fees and charges
- Two return flights from Melbourne to Tokyo - 288,000 points plus taxes, fees and charges
- One return flight from Perth to Dubai flying Emirates - 216,000 points plus taxes, fees and charges
- Two return flights from Sydney to Christchurch flying Emirates - 216,000 points plus fees and charges
What should I be aware of before applying?
A points offer on a mortgage can be an attractive offer, but you need to make sure the loan is competitive and suitable for your situation.
To figure out if this offer would present good value to you, you can follow our example below and input your own figures.
In our example, our hypothetical borrower qualifies for the ANZ Simplicity Plus with an interest rate of 3.38% p.a. and a different home loan without a bonus points offer with an interest rate of 3.25% p.a.
In this example, if our borrower chooses the ANZ home loan, they would effectively pay an extra $10,320.06 in interest over 30 years on a $400,000 loan.
Given that our rule of thumb is to aim for $20 of value for every 1,000 Qantas Points you redeem, in this case it means our hypothetical borrower would pay $10,320.06 for $6,000 of points value.
You can calculate the maths for your own situation using our free home loan calculator and a comparison of the latest home loans rates before applying to ensure you get the right deal. Be sure to also include fees in your comparison to get a good idea of the difference in value between the loans.
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