Signup Bonus Home Loans

Home Loans with sign up bonuses

Rates and Fees verified correct on October 26th, 2016

Take advantage of signup bonuses being offered by home loan lenders and save on what matters.

Unless you’ve been extremely frugal and have saved up enough money to buy a property outright, at some point in your life you are probably going to need a mortgage. Luckily, the home loan market is a competitive one and lenders are offering an increasing amount of deals and bonuses when you sign up with them. These are referred to signup bonuses and they can save you money on interest, reduce your fees, allow you to package financial services or reward you with cash or prizes.

There’s a range of these bonuses on offer, so be sure to compare and find the deal that appeals most to you. Keep in mind that this loan will be with you for a long time, so these signup bonuses should only sweeten the deal or act as a tie-breaking feature when you are comparing your home loan options.

Compare home loans with signup bonuses

Rates last updated October 26th, 2016
Loan purpose
Offset account
Loan type
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Product nameInterest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment
Bank of Queensland Fixed Rate Home Loan - 3 Year Fixed Rate Discount Rate $150k+ <80% LVR (Owner Occupier)
Special offer for new lending of $150k or more & under 80% LVR, this offer has been extended. $1,500 gift card offer available, terms and conditions apply.
3.59% 4.28% $300 $10 monthly ($120 p.a.) 80% More info
St.George Fixed Rate Advantage Package -  2 Year Fixed Rate (Owner Occupier)
A discounted package rate for owner occupiers with the ability to package a Qantas rewards earning Amplify credit card. $1,000 cash back available for refinancers, conditions apply.
3.75% 5.03% $0 $395 p.a. 95% More info
BankSA Advantage Package Home Loan - $250k to $499,999 (Special Discount) (Owner Occupier, P&I)
Borrow from $150000 up to $249999. $1,500 cash back offer available to refinancers, conditions apply.
4.49% 4.89% $0 $395 p.a. 90% More info
Queenslanders Credit Union Fixed Rate - 2 Years Fixed Special Offers (P&I)
Borrow from $50000 up to $3000000. $1,000 cash back available when you move your home loan to Queenslanders Credit Union. This offer is available for a limited time only! Terms and conditions apply.
3.82% 4.42% $595 $0 p.a. 97% More info
Bank of Melbourne Advantage Package Home Loan - $250k - $499,999 (Special Discount) (Owner Occupier, P&I)
Advantage Package home loan with $0 application fee. Refinancers have $1,500 cash back offer available, conditions apply.
4.47% 4.87% $0 $395 p.a. 95% More info
SCU Basic Home Loan
A basic home loan with a low interest rate and a redraw facility available. Take out a new SCU loan and enjoy $500 cash back, terms and conditions apply.
4.49% 4.54% $200 $0 p.a. 95% More info
Credit Union SA Home Loan Package - Variable $500k+ (Owner Occupier)
Cashback and other offers available to teachers who take out a new loan or refinance from another lender.
4.39% 4.77% $0 $395 p.a. 80% More info
Northern Inland Credit Union Smart Variable Home Loan - Owner Occupier
This loan is a flexible home loan packed with smart features for purchasing or refinancing a home or investment property. Refinancing cash back offer of $1,000 available, conditions apply.
5.33% 5.37% $0 $0 p.a. 95% More info
homeloanHQ Rate Lock Loan
Part fixed part variable home loan with redraw facility. $600 cashback offer available, conditions may apply.
4.01% 4.04% $0 $120 p.a. 80% More info

Lenders can offer a huge range of signup bonuses that you can take advantage of, including:

  1. Fee reduction or waived fees

This signup bonus is a popular offer from lenders and involves them offering a reduction in fees for a limited time, such as no annual fee or no account-keeping fees for the first year. They may even waive some of the fees for the life of the loan. Lenders often require you to sign up online or before a certain date in order to take advantage of this kind of offer.

Current offer: Pay no application fee when you take up the HSBC Home Value Loan Resident Owner Occupier Only.

  1. Special gift

This is also a common offer from lenders that involves a special gift or cashback offer when you sign up for the loan. Although this does not help you save money on the loan directly, it can offset the costs of signing up for a loan or refinancing. This type of signup bonus should be considered just that, a bonus, because it has little to do with the actual loan.

Current offer:Abode Home Loans is offering a $100 Coles Myer gift card to new customers who apply for a new home loan over $150,000.

  1. Limited time discounted rates

This type of bonus involves the lender discounting the interest rates on the loan for a certain amount of time. These discounted rates can save you a decent amount of money in the early stages of your loan and as such are quite a generous offer from lenders.

Current offer: UBank is offering an upfront discount of 0.25% p.a. on their variable rate UHomeLoan and if you keep the loan for three years you'll enjoy a loyalty discount of 0.10% p.a..

  1. Exclusive rate offer

This is also a lucrative offer from lenders when you sign up to a loan. It involves a special low rate which can either be for the life of the loan or for a certain amount of time. For example, you could choose a fixed rate home loan which rewards you with a lower rate for the more years you choose to fix for.

Current offer: Borrowers can get up to 0.89% p.a. discount off the ING DIRECT Orange Advantage Home Loan if they keep their loan-to-value ratio (LVR) below 90% discounts only available to new owner occupier customers.

  1. Package your financial products

This type of signup bonus can benefit both you and the lender by allowing you to package things like credit cards, savings accounts and offset accounts with your home loan account. You can save by paying a combined annual fee for all products you've chosen to package, as well as enjoy the convenience of having all of your finances in the one location. You'll usually get an interest rate discount on your loan too.

Current offer: NAB Choice Package with their Tailored Home Loan (variable or fixed rate) or the NAB FlexiPlus Mortgage.

  1. Free or complimentary rewards or products

This is a type of signup bonus that may extend over the life of the loan. These type of bonuses encourage you to sign up and then continue to reward you for doing things like making repayments. Again, this type of bonus has little to do with the actual loan and will not help you actually save money, so should just be looked at as an added incentive.

Current offer: The Macquarie Bank Basic Flyer Home Loan lets you earn Qantas Rewards points as a signup bonus, plus gives you the ability to earn points for making repayments.

How to compare home loans with signup bonuses

When comparing home loans with signup bonuses, there are a few things you should keep in mind.

  • Savings. You should consider whether the loan actually helps you save money, or whether you will just receive an added bonus for signing up to the loan.
  • Period of offer. You should also keep in mind how long the offer will last for. For instance, if the loan offers a special rate for the first year, is the revert rate still an affordable option for you?
  • Other features of the loan. The signup offer should not be the only reason you are choosing a certain home loan. You need to take into account all the features offered by the loan and whether they suit your needs and situation.

Marc Terrano

A passionate publisher who loves to tell a story. Learning and teaching personal finance is his main lot at Talk to him to find out more about home loans.

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HSBC Home Value Loan - Resident Owner Occupier only

Enjoy the low variable rate with $0 ongoing fee and borrow up to 90% LVR.

ME Bank Basic Home Loan - LVR <=80% Owner Occupier

A low variable rate loan with no application or ongoing fees.

CUA Fresh Start Basic Variable Home Loan - Owner Occupier

A basic mortgage available only to customers who switch their everyday banking to CUA.

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