NAB offers cashback incentive to woo new home loan customers

Posted: 2 February 2017 12:25 pm

NAB CashbackThe big four bank is offering new borrowers $1,500 cashback.

National Australia Bank (NAB) is offering a cash incentive to new home loan customers who also combine a “Banking Bundle” with their home loan. To be eligible for the cashback a new applicant needs a minimum loan amount of $250,000 and also have or apply for a NAB credit card and a NAB transaction account before the loan is drawn down.

This isn’t the first time NAB has used an extra incentive to draw new home loan customers. Last year the bank offered new home loan customers who also became banking customers 250,000 frequent flyer points.

“We look forward to launching more initiatives throughout the year,” NAB general manager of broker distribution Steve Kane said.

NAB joins a growing list of lenders offering upfront cash incentives to draw new home loan customers into the bank. St.George offers a similar cashback incentive to borrowers who refinance to the bank’s Advantage Package Home Loan as does BankSA and Bank of Melbourne.

The offer is available with a range of NAB home loan products.

Image: Nils Versemann / Shutterstock

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