Big Bank special offers for Home Loan re-financers

There are big incentives for re-financers, including bonus points, super-low rates and rebates.

So, you’ve got equity in your home thanks to the property boom and you’re thinking of re-financing?

Here are some of the standout special offers from the Big Banks right now.

For re-financers, NAB is offering 350,000 NAB Rewards Points, Westpac is offering a $1250 rebate, and CBA has a low rate of 4.00% p.a.

9Saver Tip: Click on the special offers below for more info or compare dozens of cheap Home Loans at ratecity.com.au*

Examples of current re-finance special offers from the Big Banks:

NAB is currently offering 350,000 NAB rewards points  + 4.21% p.a. Comparison Rate for re-financers when you take out a package with a NAB home loan of $250k+, NAB Rewards Credit Card and a NAB Transaction Account. (Rate includes $600 application fee.) Click here for more info*.

CommBank is offering a lower 4.00% p.a. Comparison Rate for re-financers, plus no application fee and no monthly loan service fees. Click here for more info*.

Westpac has a $1250 re-finance rebate + 4.82% Comparison Rate when you re-finance a loan over $250k and take out a loan-credit card-savings account package. (Rate includes annual package fee of $395.) Click here for more info.

NAB package* CommBank* Westpac package
350k Rwds Pts 4.00% Comp’n Rate $1250 rebate
4.21% Comp’n Rate No ongoing fees 4.82% Comp’n Rate
$250k+ loan Redraw facility $250k+ loan

What Interest Rate will you get?

Warning: Working out what rate you can get from the Big 4 is not easy. There’s a reason about half of their Home Loans go through brokers. But here is a guide to get you started.

Basically, the Big Banks offer home loans starting with a ‘5’ that you can reduce to a ‘4’ and sometimes a ‘3’ by taking out one of their ‘packages’ and/or taking out a large loan (e.g. $750,000+).

Right now, as the table of advertised rates below** shows, ANZ is advertising the lowest standard variable rates – but bear in mind that almost nobody actually pays the advertised rate for the reasons explained above. You have to read all the fine print or ask a broker to help you.

STANDARD VARIABLE COMP’N RATE STANDARD VARIABLE COMP’N RATE
Principal & Interest Interest Only
ANZ 5.30% 5.52%
Westpac 5.38% N/A
NAB 5.37% 5.58%
CBA 5.36% 5.58%
* In highlighting particular offers we are not making specific recommendations as this article does not cover all available products and may not compare all features relevant to you. Any advice provided is general in nature and does not take account of your needs, objectives or financial situation. Individuals should consider their own circumstances, and if in doubt seek appropriate advice, before proceeding.

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