4 cashback home loan offers to ease the pain of RBA rate hike
Mortgage repayments are going up after the RBA decision, but that doesn't mean savings aren't to be had.
The RBA lifted the cash rate to 3.85%, meaning variable home loan rates and repayments are about to lift too.
That's not ideal when 35% of borrowers already admit to struggling to pay their mortgage.
But if a rate change signals anything, it's that it's probably time to take a look at your home loan.
Thankfully, several lenders are offering cashback deals at the moment. You can use this bonus for anything, including using it for a mortgage repayment or sticking it in to your offset.
Here are 4 of the best deals on offer right now:
1. Unloan
The offer: $1,000 e-Visa card
Who it's for: Refinancers
Best product: Unloan's Variable Home Loan has a Finder Score of 9.7.
What else to think about: There's no offset account with Unloan products. You need to apply for the loan before 28 February 2026 and settle by 16 May 2026 to be eligible for the offer.
Interested?
Take a look at the full range of Unloan products which could score you $1,000
2. Greater Bank
The offer: Up to $3,000
Who it's for: Refinancers and first home buyers
Best product: Greater Bank's Ultimate Home Loan has a Finder Score of 9.4
What else to think about: For loans of between $250,000 and $499,999 you can get $2,000. Loans above $500,000 are eligible for $3,000. Excludes refinances from Greater Bank itself and Newcastle Permanent.
3. IMB
The offer: Up to $3,000
Who it's for: Refinancers and purchasers
Best product: IMB's Essentials Home Loan has a Finder Score of 9.5.
What else to think about: Watch out for loan application fees. For loans of between $250,000 and $499,999 you can get $2,000. Loans above $500,000 are eligible for $3,000. The cashback is only available once you've kept your loan for 12 months.
4. Newcastle Permanent
The offer: Up to $3,000
Who it's for: Refinancers and purchasers
Best product: Newcastle Permanent's Premium Plus Package Home Loan has a Finder Score of 9.5.
What else to think about: Watch out for application fees and ongoing fees. For loans of between $250,000 and $499,999 you can get $2,500. Loans above $500,000 are eligible for $3,000. Excludes refinances from Newcastle Permanent itself and Greater Bank.
What to remember when comparing cashback home loans
Cashbacks can be a great perk when choosing a new home loan, but it should not be the entire reason you switch. Make sure you compare whether the rate is a good one and that there are no high fees dragging your savings down.
Take a look at our full guide on comparing cashback home loans.
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