A cashback is a one-off payment, usually conditional on a minimum loan amount and a maximum LVR, and it lands weeks after settlement rather than at approval. Weigh it against the ongoing rate, because a loan priced a little higher can cost more over a few years than the cashback hands back. Every loan here is an owner-occupier variable loan on principal and interest, from 6.09%This is our lowest starting rate for these products. Other factors may change rates once you filter your results. See sorting and ranking for more info. p.a. (6.10% comparison rate) with Greater Bank's Discounted Great Rate Home Loan - Variable Owner Occupied.
Rates checked against every provider’s own published dataWe show all of the product information we are able to access. For banking products that is each provider’s public Consumer Data Right (CDR) Product Reference Data endpoints, published under the Consumer Data Standards (CDS) maintained by the Data Standards Body. Where a provider does not publish a field, or a row is an editorial selection, we say so. on 19 Oct 2026
Borrowing $500,000 over 30 years at the lowest advertised shown:
Monthly repayment from
$3,027/mo
Total repaid
$1,089,628
Total interest
$589,628
Estimate only, based on the lowest advertised interest rate shown and assuming equal monthly repayments. Actual repayments depend on your rate, fees and loan terms.
A low cost home loan option, the Budget Home Loan has a discount off IMB’s standard variable rate… for the life of the loan, so you’ll always pay less. No monthly fees, unrestricted additional…
A simple home loan doesn't mean you have to compromise on its features. With our Economy Home Loan, you'll enjoy an ongoing low variable interest rate with free redraw and flexible repayment options.
The IMB Essentials Home Loan allows you to save on your home loan without compromising on features. $0 IMB Establishment Fee, 100% Offset account and Life of Loan Discounted Rate.
ANZ Simplicity PLUS is our basic variable rate home loan that still gives you the ability to make… extra repayments to pay it off sooner. ANZ Simplicity PLUS Home Loans are available for periods…
Our most flexible home loan with plenty of features to help suit your needs. You can offset your loan, pay it off early or access extra repayments you've made. Plus, you won't pay any ANZ set up or…
Rates and fees are sourced from each provider’s CDR Product Reference Data where the provider publishes it.
Comparison rate warning and base criteria
Base criteria: repayment figures shown in this table are calculated on a loan of $500,000 over 30 years. Repayment estimates use each loan’s advertised interest rate, with the comparison rate shown beside it as a guide to total cost. These figures are examples only. They are not a quote, and they may not include all fees and charges.
*Warning: the comparison rate shown is calculated by the lender on its own standard example, usually a $150,000 loan over 25 years. This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
About this table: we publish this table so you can research credit products, by bringing together in one place the banking data lenders publish under the Consumer Data Right. Using that data, we have tried to show products that match this table’s title. This table does not compare all products, and there may be products with a lower rate in the market that are not shown here. Do your own research to find a product that suits your needs and financial goals. See how we choose products for tables like this.
Products are selected for relevance to the table and to the filters applied. They are not suggestions or recommendations, and the order they appear in is not a ranking of suitability.
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Rates, fees and charges are subject to change without notice. Before acting on any information shown here, you should confirm the rates, fees, charges and product information with the provider. For clarity, where we have used the terms “lowest” or “best”, these relate solely to the rates of interest offered by the provider and not to any other factor. The application of these terms to a particular product is subject to change without notice if the provider changes their rates.
This table does not compare every feature that may be relevant to you. Changing the filters will surface further relevant products. See how we sort and rank products and how we make money.
This information is general in nature. It does not take into account your objectives, financial situation or needs, and it is not a recommendation to apply for or hold any particular product. You should read the provider’s Key Facts Sheet, Target Market Determination and credit contract terms before deciding. CompareThat compares products. We do not arrange, approve or process applications.
What are home loan cashback offers?
A cashback offer is a lump sum a lender pays you, often a few thousand dollars, for taking out a new loan or refinancing to them. It’s a marketing incentive to win your business, and it can help cover switching costs. But a cashback says nothing about the loan’s ongoing value.
What a cashback is worth
Sometimes. A cashback can be genuinely useful if the loan’s rate and fees are also competitive. It becomes a bonus on top of a deal that already stacks up. The risk is being lured by the headline payment into a loan with a higher rate, where the extra interest over a year or two quietly outweighs the one-off cash.
Beyond the cashback
The comparison rate, ongoing fees and conditions matter as much: minimum loan size, maximum LVR, and clawback clauses that make you repay the cashback if you leave within a set period. A large cashback on an uncompetitive rate rarely works out cheaper over the years you keep the loan.
How cashback home loans compare
Rate and fees over the time the loan is kept usually outweigh the cashback. Loans can be compared side by side, and the full market, including refinance options, is on the home loans hub.
Expert view
“The cash is paid once. The rate is paid every month. The comparison rate over the years a loan is actually kept, and any clawback clause, come first. A cashback only decides it when everything else is close.”
JP
Jordan Pearce
Senior finance writer, CompareThat
Glossary
The key terms you’ll meet when comparing these products, reading product disclosures or talking to a provider.
Term
What it means
Cashback
A lump sum a lender pays you for taking out or refinancing to a new loan, used as an incentive to win your business.
Clawback
A clause requiring you to repay a cashback (or part of it) if you leave the loan within a set period after settlement.
Comparison rate
A single rate that combines the advertised interest rate with most fees and charges, so loans can be compared on a like-for-like basis.
Fixed rate
An interest rate locked for a set term, so repayments stay the same regardless of market movements, usually with limited extra repayments or offset.
Interest-only
A repayment type where you pay only the interest for a period; the loan balance does not reduce and the rate is often higher.
Lenders Mortgage Insurance (LMI)
A one-off insurance premium that protects the lender, usually charged when you borrow more than 80% of a property’s value.
Loan-to-value ratio (LVR)
The size of your loan expressed as a percentage of the property’s value. A 20% deposit gives an 80% LVR.
Offset account
A transaction account linked to your loan; its balance is offset against the loan, reducing the interest you are charged.
Principal and interest (P&I)
A repayment type that pays down both the amount borrowed and the interest, reducing the balance over the life of the loan.
Redraw
A facility that lets you access extra repayments you have made above the minimum, if you need the money back later.
Variable rate
An interest rate that can move up or down with the market, usually paired with more features such as offset and unlimited extra repayments.
Common questions
How much cashback can I get on a home loan?+
Offers vary, but cashbacks are often a few thousand dollars for a new or refinanced loan, and larger offers usually need a bigger loan. The amount and conditions differ by lender and change over time.
Is a home loan cashback taxable?+
The ATO has not published a ruling on home loan cashbacks. Answers on the ATO Community forum, which are not binding, have not treated a cashback on the home you live in as income, and the position for an investment loan is less settled, so the lender's paperwork matters. This is general information, and a tax professional can advise on a specific case.
What conditions come with cashback offers?+
Common conditions include a minimum loan amount, a maximum LVR, settlement by a deadline, and a clawback that requires you to repay the cashback if you leave within a set period.
Can refinancers get cashback?+
Many cashback offers specifically target refinancers, since lenders compete hard for borrowers with equity and a repayment history. The rate being switched to matters more over time than the cashback.
Does a cashback mean a higher rate?+
Not always, but it can. Some lenders fund a cashback with a higher rate or fees, so the comparison rate over the time the loan is kept says more than the upfront cash.
The Numbers Behind This Market
What this market is paying or charging on average right now, and the official figures behind it.
We are not a lender, broker or bank. Product data comes straight from each provider’s own Consumer Data Right feed (Australia’s official open banking system) and is refreshed daily, so what you see reflects published rates and fees, not a sales pitch.
✓Not a credit provider: we do not lend, arrange loans or take applications.
✓Sourced from each provider’s CDR Product Reference Data, refreshed daily.
✓Payment can change where a product appears, never which products we show.
✓General information, not credit advice. CompareThat compares; it does not recommend.
Rates and fees are sourced from each provider’s CDR Product Reference Data as of the date shown. They are general information only. Not credit advice. CompareThat is not a credit provider. Payment can change where a product appears, never which products we show.
