Up to $9k Cashback with Citibank for 2 Refinances and/or Purchases (up to $5k Cashback for 1 Application) @ Loan Base


Rates from 1.99% 2 Year Fixed (Comp 2.92%)


As we are a Premium Select Broker with Citibank, we can offer $4k cashback per property (maximum 2, requires 2 applicants). This means we can actually offer a $8k cashback if there are 2 applicants and 2 properties. We also have access to 2 day SLA priority processing.

Additionally, for any of the Citibank deals, if your utilised lending (net of offset and redraw) exceeds $750k, we are offering an additional $1k in cashback on settlement if you mention this OzBargain deal. Some conditions apply (see bottom of this post for details).

This makes the total available cashback on the below deals up to $9,000 if you have 2 properties, 2 applicants, and more than $750k of utilised lending.

Please find our eligible Citibank offers below.

Note minimum lending of $350k per application - includes topups, excludes cashouts on unencumbered properties.

Home Loans P&I

  • 1.99% for 2 years fixed for home loans (Comp 2.92%)
  • 2.09% for 3 years fixed for home loans (Comp 2.94%)
  • 2.29% for basic variable rate (Comp 2.34%)
  • 2.59% for variable with offset (Comp 2.99%)

Investment Loans P&I

  • 2.39% for 3 years fixed for investment loans (Comp 3.23%)
  • 2.49% for 2 years fixed for investment loans (Comp 3.29%)
  • Updated - 2.59% for basic variable (Comp 2.64%)
  • Updated - 2.49% for basic variable (Comp 2.54%) – when secured with an Owner Occupied property
  • Updated - 2.79% for standard variable with offset (Comp 2.94%)
  • Updated - 2.69% for standard variable with offset (Comp 2.84%) – when secured with an Owner Occupied property

Interest Only for Investment

  • 2.59% for 3 years fixed (Comp 3.50%)
  • 2.69% for 2 years fixed (Comp 3.57%)
  • 2.89% for basic variable (Comp 2.94%)
  • 2.79% for basic variable (Comp 2.84%) – when secured with an Owner Occupied property
  • 3.19% for standard variable (packaged with offset) (Comp 3.34%)
  • 3.09% for standard variable (packaged with offset) (Comp 3.24%) – when secured with an Owner Occupied property

Applicable Fees for the above fixed loans:

  • $250 upfront fee
  • $350 annual fee

Applicable Fees for the above variable loans:

  • $649 upfront
  • $8 / month if there is an offset account (otherwise $0 ongoing fees)


We also have access to a number of highly competitive offers via other lenders on our panel.

The cashback offers do not apply for the following:

Home Loans P&I Package

  • 2.29% for variable with offset (Comp 2.66%)

Investment Loans P&I Package

  • 2.54% for variable with offset (Comp 2.90%)
  • 2.29% for variable with offset when secured by an owner-occupied property, can still retain tax deductibility if structured correctly (Comp 2.66%)

Interest Only Loans

  • 2.69% for variable with offset for owner occupied, or for investment secured by an owner occupied property (Comp 3.06%)
  • 2.84% for variable with offset, for either investment or owner occupied (Comp 3.07%)


Please reach out to one of our two senior brokers to discuss the above offers. If you are going to e-mail, please cc in both brokers to receive the most timely service as we are extremely busy at present.

Leo Gonzales - Senior Broker

E: [email protected]
Book time into their calendar: https://calendly.com/loanbase-leo/initial

Andrew Loucas - Senior Broker

E: [email protected]
Book time into their calendar: https://calendly.com/loanbase-andrew/quickchat

Our Online Platform

Alternatively, you can register on our platform to review your options or to chat online with our team - https://loanbase.com.au/compare-home-loans-fva - note that SMS verification will be required.

The landing page linked above will not mention the $1k additional Loan Base cashback, please mention this Oz Bargain offer when speaking with our brokers to qualify.

About Us

We're one of Australia's leading online brokerages, having recently won numerous industry accolades including 2020 Finalist status from the Australian Broking Awards, and 2 Excellence awards from the AMA's for Digital Strategy and Young Gun of the Year. Our premium online platform streamlines the entire mortgage process from start to finish, and our focus on customer service ensures you receive outstanding support from our team of brokers.

Qualifying criteria for the $4k Citibank Cashback
  • The $4,000 cashback is ONLY available through Premium Select Status Brokers
  • Via Citibank, we can offer $4k cashback per property (maximum 2, requires 2 applicants & 2 applications)
  • This means we can actually offer $8k cashback if there are 2 applicants and 2 properties.
  • Total lending per application must be a minimum of $350k; this includes top-ups to $350k (but not cashout against an unencumbered property)
  • Loan to Value ratio must be less than or equal to 80%
Qualifying criteria for the Loan Base Cashback
  • You must mention this Oz Bargain offer to qualify for this cashback.
  • If you proceed with an application for one of the quoted Citibank products and successfully settle total utilised lending (net of offset or redraw) of more than $750k, we will provide you with a $1,000 cashback after settlement.
  • This cashback offer is only available for applications submitted onwards from October 28th 2020
  • Maximum of 1 cashback per household (e.g. per couple)

Comparison Rates

Any quoted comparison rate is only true for the example given and may not include all fees and charges. Different terms, loan amounts or fees may result in a different comparison rate. Comparison rates are based on a loan amount of $150,000 over a loan term of 25 years.

Note that comparison rates can be misleading depending on your loan size, as the assumed $150k loan size means that fees have an outsized impact on the comparison rate calculation. This is why we include a "true rate" in the solution proposal we provide you with, as this factors in your actual total lending instead of the arbitrary $150k. Comparison rates also assume that the revert rate (in the case of fixed loans) will be the actual rate you remain on upon fixed expiry, where usually we would negotiate a new fixed term or variable rate discount with your lender on your behalf.

Mod: Removed duplicate from title.

Company Details

Loan Base Pty Ltd (ABN 95 162 141 915) · Australian Credit Licence Number 508 308
Head Office: Level 1, 1-5 Link Road, Zetland, NSW, 2017. Phone: 1300 512 377.

Related Stores

Citibank Australia
Citibank Australia


  • Nice write up but looks like it might be the same product as per below.


    but less rebates from broker only 750k+


      Hey dasher, the rates in that offer are higher and the lender cashback is lower.

      Our offer is for a $4k lender cashback per application (max 2) from Citibank (qualifying criteria is > $350k lend).

      Plus we're offering $1k cashback from us for deals > $750k utilised lend.

  • scenario: Can I refinance my current mortgage and take the 4K rebate and then pay it out. currently only owe $71.00 but the redraw facility is available to $105k…?just up it to $350k…..? Maybe the fees kill the $4k rebate?
    Although I am looking at purchasing another property too which is more than $350k but it seems like every week a better deal comes out….?

    • yea i don't think a broker will entertain that idea based purely on clawback.


      Hi mickyboy, whilst I believe you may technically qualify for the lender cashback under that scenario (since there is a refinance involved and it is not a pure cashout/equity release against an unencumbered property), it could be difficult to obtain approval for such a large uncontrolled cashout with Citibank credit.

      Furthermore, since this offer is only available through Premium Select Citibank brokers and brokers are only paid commission on utilised lending (not redraw or offset balances) and are subject to clawback provisions (100% clawback applies for full discharges within 12 months of settlement), it might also be difficult for you to find a broker that could assist you with your application without charging a significant fee to cover their service.

      With that said, your total refinancing costs would likely only be around $1,000, so it's definitely a creative idea to try to game the system! If you needed lending of >$350k for your purchase, that would be an easier way to qualify - whilst many lenders are offering refinance cashbacks at the moment, I'm yet to see one higher than $4k per property or with rates as low as this and very few are offering cashbacks for purchases.


  • When does this offer expire?


      The Loan Base cashback offer is available for the next 7 days, we may extend this depending on interest.

      The Citibank cashback offer is available until the 31st of December, but could be withdrawn earlier at their discretion.

      Let me know if you have any more questions!


  • Post for the first time in a while!
    My Mortggage broker from loanmarket.com.au contacted CitiBank to confirm this product and it was interesting to find that CitiBank itself is not aware of this offer or rates!
    Don’t understand what’s going here?


      Hi TheMills, it's an exclusive deal for Premium Select Brokers (I believe there's only a handful in the country).

      • I don’t know how it works among Banks and Mortggage brokers but I strongly believe that banks should not be doing this as at the end of the day they want new customers! Also, what is the definition of premium broker? How can a broker be premium which doesn’t make more profit! Everybody in the market is to make money!


          Hi TheMills, broker status is usually based on a number of factors including the quality of submissions (e.g. how comprehensive an application is in terms of included documents, prequalification around servicing and so on), deal quality (e.g. low LVR, higher loan amounts, higher income borrowers), conversion rates of submission through to settlement, and overall settlement volume.

          Hope that helps!

        • They become premium by writing too many deals to citi bank. So that way citi makes the money on volume.


            @GuyfromMelbourne: Just a note to add that we have premium status with a few lenders, due to a combination of submission quality, deal type (we focus on larger deals and property investors), and volume.

  • Hi Op, what is the maximum you can get in cashback for 2 properties and 1 applicant?


      Hi GuyfromMelbourne, for the Citibank deals we can do $5k ($4k from Citibank, $1k from us).

      However, if you're happy to use two different lenders, 1 for each property, we could do $4k from Citibank, $4k from another lender, and $1k from us ($9k total) - pending clarifying total utilised lending of course.

      • That doesn't make sense. Is it 4K per property? I know the other 4k you are suggesting is with Westpac group but I am not interested in that one.

        Are you suggesting that no matter 1 property or 2 properties the max is 4K cashback from CITI?


          The cashback is per primary applicant, not per property. However if you have 2 applicants and 2 properties, we can do 2 cashbacks (1 per primary applicant).

          Hence I was saying if we do 2 different applications with 2 different lenders, you can get 2 cashbacks.

  • Interesting. Can you pm what kind of paperwork is required .

  • For those not in a rush, it seems highly likely the RBA will drop rates next week. Whether any banks will pass this on is anyone's guess:

    "The next RBA Board meeting and Official Cash Rate announcement will be on the 3rd of November 2020.

    As at 28 October, the ASX 30 Day Interbank Cash Rate Futures November 2020 contract was trading at 99.940, indicating a 84% expectation of an interest rate decrease to 0.00% at the next RBA Board meeting"


      We're well placed to take advantage of any forthcoming rate cuts, so don't hesitate to reach out now if you would like to explore your options and be prepared.

  • Are there any exit fees from your end(not from bank's end) if the customer refinances in less than 1 year? Assuming the loan is variable?

    • +1 vote

      Since a 100% clawback would apply for any discharges within the first 12 months of settlement, we would not look to assist clients who intend to refinance within a 12 month period. However we do not charge any exit fees or pass on clawback ourselves.

  • I still have 2 years left on a 4.09% fixed rate. @$387k and $100k variable.

    I guess my payout figure would be significant ($10k plus).

    There's probably little that can be done for me, right?


      Hi 31mop, it might be worth calling up your lender to find out the payout figure. Usually the payout figure is approximately equivalent to what you would save by refinancing with your current lender to their best available comparable fixed rate. Therefore, you may still come out ahead by the cashback, and potentially any difference between their best rate and the best rate in our offer.

      Once you have the payout figure, feel free to PM us or reach out, and one of our team can prepare a proposal for you that quantifies the potential savings.

  • Interested. Could you pls PM with required docs? Are you going to entertain a refinance request if I took a HL only 3 months ago?

  • Is this deal live and ready to go?

  • Damn Leo,

    This makes the 6k cash back with St George meh

  • Hi mate. how much cash back for a property that is under joint ownership and an investment that is under one person's name. Thanks


      Hi stockastics, it's best if I get one of our brokers to speak with you as it depends a little on the structure. If we can lodge the refinance under two different primary applicants (e.g. the primary applicant for the joint ownership as different to the one under one person's name) then we can do $4k + $4k from the lender plus $1k from us. Feel free to PM me with your details and I can get one of our team to reach out.

  • Op, not a fan of the way you are advertising this. One person can ONLY get 5k max..leave it at that. Mods should fix it.

    Saying 9k is deceptive. Might as well say 41k rebate for 10 applicants or 401k for 100 applicants (when obviously each applicant is better off getting the full 5k each).

    What you are really saying is 'lose 1k by applying for this deal together'.

    Lastly, as you say in the comments. Applicants should seek multiple lenders to indeed get the full 9k EACH.


      Hi tunzafun001, most of our clients are couples - as we clarify in the post, a couple with 2 refinances/purchases can get $8k + $1k for a total of $9k.

      The $1k cashback from us is limited to one per household/couple so $5k each would not be possible in your example.

      Also, as per our comments, as we are a broker we can also provide single applicants (not as common as couples in our experience) with $9k if they are happy for us to split the apps between two lenders.

      We also note that it is "Up to $9k cashback" which is a factual statement. I don't believe this offer to be misleading, but apologise if you feel this way.

      • Nowhere in your deal title does it say the deal is for TWO people. It comes across as per person for multiple properties. This isnt the case. Change the title.

        You say it's a $1000 rebate per household, but it requires two properties to get the full 9k. So thats two households right there.

        So if you are looking at refinancing two properties, why would you group them together? Two properties, two seperate applications = $5k each.

        So again, the deal is 'apply together, lose $1000'.

        I haven't negged the deal, as i think the $4k plus the $1k is great, and this is what you should be Advertising. Getting $4k (or an extra $4k isn't a 'deal' as you can get that from multiple places outside this deal anyway).

        Lastly, I didn't mention about dealing with Citibank Customer service (blurrghhh!). Maybe look at Westpac with a rate review.



          Thanks for the comment. I can understand where you’re coming from, and in future we’ll definitely keep this in mind for the post topic. FYI - we actually cannot edit the topic any more as it is now locked.

          On the $1k cashback from us, our intention is for this to be on a per client basis, not a per property basis. In the case of a couple, the couple is the “client”, as any jointly owned properties would need to be lodged in both clients’ names - we would just have a different “primary” applicant to qualify for the $4k lender cashback twice. I hope that makes sense.



          Hi tunzafun, just circling back to this. We actually received new guidance from Citibank that we can offer this cashback to one client with two properties (i.e. $8k total) :)

    • The details are clearly advertised in the post; no one is going to be getting a mortgage without reading all the deets.

  • How does it work when I have money paid in to the redraw account of my current variable home loan? Do I withdraw all the money from my current bank's redraw account before refinancing? Then add that back in to the offset/redraw account after the refinance is settled?


      Hi fufufu, if the loan is completely paid down it's not really something we would be able to assist with, as we have a minimum $350k of utilised lending as a threshold for refinances that we process. The reason for this is that we would not get paid a commission for such a refinance. In your case it would be best approaching a lender directly. Apologies we cannot assist you further.

      • It's not fully paid off, I'm talking 10% of a large loan. I just want to know how it works when u already have money in redraw. I don't want to lose the ability use the redraw amount for emergency.


          Ah no worries, sorry for the misunderstanding. In that case, we can refinance based on the loan limit including redraw rather than loan balance - any surplus at settlement can then be transferred to your bank account or offset. Feel free to PM me if you’d like one of our brokers to get in touch.

  • Awesome, thanks have emailed you - these offers getting crazy, makes sense to break if you have a fixed ending soon with these offers!

  • Seems Mr Loan Base is now MIA after his quick barrage of messages. He's not responding to my PMs

  • HI Rep, I was planning to refinance with Finance House Pty Ltd they have ACL# as 389328, as they have advertised here before. But when I did a lookup on them, registered company comes as CONNECTIVE CREDIT SERVICES PTY LTD. Do you think its a scam?

    • +1 vote

      Hi NalB, they are probably a credit representative of Connective (an aggregator), and as such don’t have their own credit license. That doesn’t make them a scammer, but I can’t comment on them otherwise.

      We’ve got our own credit license, which is why if you look ours up you would see our company name listed.

  • Hi rep I wish to refinance but my loan size is below 300k. I am particularly interested in St George bank as they are offering 4k cash rebate.
    Are you able to help?


      Hi arctan, feel free to PM me details and I'll see if I can link you up with someone who can assist. We don't really work on deals smaller than $350k ourselves, but do have connections with brokers who do.

  • What’s the rate for a 12-month fixed interest only on an investment property? (I tried looking for it but no joy).


      Hi Lunarboogie, Citibank's current promotional 12 month fixed interest only investment rate is 2.69% pa - please let us know if you would like to discuss this further with one of our brokers.

  • I have multiple loans, and currently with CBA, and likely to move as their offers are sub par. I can apply for a $10k loan top up from CBA (which would bring about a new set of valuations free of charge). Some of these loans are regional and valuations can be expensive. Would these new valuations from CBA carry across to a new lender (ie Citibank). Basically saving me paying $250+ for new valuations.


      Hi tunzafun001 - unfortunately all lenders would need to complete their own valuation. Citibank does not explicitly charge for valuations, however, as valuation fees up to $500 are generally included in their application/settlement fees (which vary based on whether you are applying for the mortgage plus package or a basic/standard loan). Please let us know if you would like to discuss your situation and possible options with one of our brokers.

      • I'd need 4 valuations, $500 probably wouldn't cover 2. Also a mix of owner occ and investment loans. CBA came up with some 'loop hole' and did all loans at OO rates. Maybe because the majority value was OO, can't remember. So would be looking to do the same again.

        • +1 vote

          So even with the $500 cap on valuations, you'll easily come out ahead with $5k cashback.

          Alternatively, we have a number of lenders that have competitive offers and don't charge for valuation fees, so could consider them for your potential refinance in addition to the Citibank offers.

          Finally, we could submit a pricing request on your behalf to check the best fixed rates CBA could offer you to switch products and remain with them.

          Regarding the investment / owner occupied pricing, we would need to have a chat to better understand your situation. We have a few lenders who price based on security (so any lending secured by your home is priced at owner occ rates, even if it is investment purpose) and one who prices based on predominant purpose (so if 51% of your lending or more in an application is for owner occupied purpose, the whole loan is priced at owner occupied rates).

          The only other method I'm aware of to access owner occupied rates on investment debt is to refinance your investment property/ies as a holiday home/s. In this case we can't count rent or negative gearing towards servicing, but some lenders will offer owner occupied rates on this lending.

          I think ultimately it’s worth speaking with one of our brokers to compare your options and work out the best one for you regardless. Feel free to PM me contact details and I can organise for someone to call you.

  • A noob here. Can someone explain how much I end up spending for moving my loan to Citibank. What are the fees I would need to consider while moving my mortage?

    I currently have $400k (loan) + $25K (redraw) and want the same setup with Citibank. Is this poissble? TIA.


      Hey starlightshine, no problem at all - we all start as noobs after all :-)

      Assuming none of your current lending is fixed, you'd typically be looking at:
      1.) Discharge fee to current lender = Approx. $350 (depending on your lender)
      2.) Upfront fees to Citibank = Can range from $250 - $649 for a standard refinance, depending on which option you select (package or standard).
      3.) State government mortgage registration and de-registration fees = Vary based on which state the property is located in, but are generally around $300.

      Therefore total fees to refinance to Citibank would likely cost approximately $900 - $1,300. This means that with a $4,000 cashback you'll easily be coming out ahead.

      Should be no problem in moving your loan + redraw across to Citibank, providing you have enough equity in your property.

      Let us know if you'd like one of our brokers to contact you to discuss your options and prepare a free, no obligation proposal for you!


      • Chris, Is this offer directly via Citibank or through a Mortgage broker? Is there a lock in period with this loan if we are going thru the broker?


          Hi Starlightshine,

          This offer actually isn't available through Citibank directly or through the vast majority of mortgage brokers - it is only available to Citibank "Select" brokers, of which there are only a handful in the country.

          Since we are select brokers, we'd be able to assist you if you like. There is no lock in period for this offer, but we are only seeking to work with people who intend to hold their loan for at least 12-18 months in order to mitigate our clawback risk.


  • I have just recently refinanced with Virgin (2 months back) - will I be OK to re-finance again with Citibank on 1 year fixed rate - loan amount 405K ~ 70% ~ 75% LVR


      Hi bluebluebird,

      Sounds like it would be ok; however I should check - did you get your loan through a broker or directly with Virgin?

      If you refinanced through a broker, I should let you know that that broker will likely have 100% of their commission clawed back if you discharge within the first 12 months.

      Therefore, in this case (unless you were unhappy with them), it might be worth reaching out to the broker who did your Virgin refi first out of good faith; just to see how they can help you out.

      Otherwise, please let us know if you'd like for one of our brokers to contact you to qualify you for this refinance deal.


  • Is there a redraw facility for Citi's OO PI 2.29%?
    Where does 2.66% comp. come from for 2.29% variable with offset (w/o cashback)? Can you give more info re. fees for that one?


      Hi leon99,

      I can confirm that there is an unlimited redraw facility on the 2.29% basic variable product.

      The comparison rate on this product is 2.34% and consists of the standard upfront fees of $649 and discharge fee of $350 (no ongoing fees).

      Please let us know if you have any other questions or would like to speak to one of our brokers.


      • Thanks Chris. Any charges for online redraw? Is there a loading for a high-density property?

        • +1 vote

          Hi leon99, no charges for online redraw and no loading for high-density properties - the only restriction here is that Citi won't go above 65% loan-to-value ratio (LVR) for high density properties.

  • Hi Chris,

    Can you be on package for variable?

    Understanding is on package it is
    250 + 350 = 600 fee.. Instead of 649.

    Additionally can you let me know what paperwork there is to complete. Do you know if apartment in 2016 nsw is capped at an LVR?

    • Also want to ask what you mean by 2 applications. Like 2 loans? Person a with loan a and person b with loan b? If loan a and loan b is greater than 750k, when it is elegible?


        Hi shadow131,

        I don't believe Citi is permitting the 2.29% basic variable rate for variable rates on their package.

        Note, however, that the $350 package fee is an annual fee, rather than a one off upfront fee, so it generally works out cheaper to avoid the package, unless you specifically want a Citibank credit card as well.

        In terms of paperwork to complete, we would need a number of supporting documents depending on your circumstances, so it is best to speak to a broker to confirm if you are interested in applying.

        Citibank's general LVR cap on apartments in category 1 locations (without lender's mortgage insurance applying) is 80%, but if the apartment is considered "high density" or has only recently been constructed, then this LVR cap reduces to 65%, so it depends on the apartment building.

        With respect to two applications, we would need to submit two separate applications secured by two different properties with at least two applicants total in order to qualify for two $4,000 lender cashbacks (i.e. this would not be possible if you only have one security property or want to have your lending cross-secured).

        In order to qualify for the Loan Base cashback, $750k combined total utilised lending across two loans would qualify you for this offer.

        Please let me know if you have any other questions or would like to speak to one of our brokers.


  • Any revised rate due to RBA lowering the rate by 0.15?


      Hi bluebluebird, nothing as yet. We will definitely update this thread if anything changes.

  • Sockpuppeting detected, store will be banned but deal will stay published due to interest.

  • Hi Chris,
    When will this deal end? I am planning to get home loan in Jan/Feb.


      Hi makeahit, this deal technically ends December 31st, if not withdrawn earlier by Citibank. That said, feel free to reach out to us when you are closer to purchase and we will let you know what we have available at the time - there may be a new similar offer from Citibank, or another lender.

  • Hi Chris,

    Does Citi allow unlimited redraws from the fixed loan?



      Unfortunately not, there are limitations on additional repayments and redraw for fixed rate loans. However, we could split the loan so that a portion is variable with unlimited redraw, to give you the best of both worlds.

  • So what is the latest rate for Citibank with the $4K cashback - on 1 year and 2 years OO Fixed Rate?


      Hi bluebluebird, please feel free to PM me with your loan details (i.e. loan size and property value), and I'll let you know the best available rates for your scenario.