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St George/Bank of Melbourne Home Loan: from 1.79% 2 Yrs Fixed, 2.24% Variable (Expired) No Annual Fee & $3000 Bank Cashback


St George / Bank of Melbourne has extended the $3,000 cashback offer

$3,000 bank cashback (>$250k)

85%LVR $1 LMI for first home borrowers (<$850k)

Owner occ 60LVR (+0.05% for 80LVR)

2 year fixed 1.79% CPR 3.33%
3 year fixed 1.98% CPR 3.35%
Variable from 2.44% to 2.59% CPR 2.80 - 2.95% offset
Variable from 2.24% CPR 2.26% basic no annual fee

Investor 60LVR (+0.05% for 80LVR)

2 year fixed 2.19% CPR 3.84%
Variable from 2.69% CPR 2.73% offset
Variable 2.59% CPR 2.61% basic no annual fee

Other lenders up to $6000 cashback other lenders

$3,000 ING - per application (>$500k loan size but can owe less) - variable no fee from 2.24%, fixed 2yr 1.89%.
$3,000 St George/Bank of Melbourne, fixed 2yr 1.79%, 85%LVR no LMI. $395 package offset annual fee
$3,000 Westpac, variable from 1.99% no annual fee
$3,000 - $6,000 (up to) PURCHASE OR REFI Citibank, fixed 2yr 1.89%, 3yr 1.99%

PLUS up to 0.4% ie $4000 broker rebate per loan (on top of bank cashback, available via broker only, not via the bank)

In ADDITION to bank rebates, we have 0.3% - 0.4% broker rebate (based on net of offset/redraw ie balance owing) for ANY bank or product. (Loans >$250k paid as eGift cards from any retailer of your choice 50/50 at 2 and 24 months after settlement).

For example:
$300k x 0.3% = $900 Broker rebate
$500k x 0.3% = $1,500 Broker rebate
$1m x 0.4% = $4,000 Broker rebate

Contact Us for this offer

Please email [email protected] at first instance and we will reply ASAP.
Missed calls and OzB messages may get delayed.
If you don't get email reply within 24-48hrs (some emails go into our spam), pls call us or text us.

Bundle Property Home Loans
Please email [email protected] at first instance and we will reply ASAP.
T: (02) 9698 7186
M: 0422354868
ACL 445947

Related Stores

St.George Bank
St.George Bank
Bundle Property Home Loans
Bundle Property Home Loans


  • +2

    2.24% for new loans. 2.39% for existing customer (after requesting a review).

    Later St George.

    • i got 2.24 after asking, after a terrifying process with them.

      • Refinancing away gets me 2.29% and $3288 cash back.
        Even if they’d gone to 2.24% the lack of a cash back would see me leave.

        To be fair to them, they did pay match a cash back to keep me with them 9 months ago.

    • +1

      I'm paying 2.6, time to give them a call.

      • Also be prepared to refinance away. A $3k cashback and a lower rate is a pretty sweet deal. For basic redraw and a respectable LVR there are good options out there. HSBC $3288 and 2.29%. BOQ $3k and 2.19% but more fees (application and monthly).

        Getting st george to pay you to stay also sweet. Tictoc and Athena doing 1.89% and 1.99% respectively. But no free money. For me the cashback puts me ahead for a good few years vs the lowest available rate.

  • +1

    Just got another loan with STG, their process was horrible, and gave me anxiety, i only stuck with them due to loyalty with my other loans.

    New home owners, beware of the process from pre-approvals to formal approvals.

    • why what was the issue- did you buy or auction?

      • pre-approval took 48 days.
        Then they gave us a wrong pre-approval
        6 days later, the senior assessor came back with an approval TWICE the pre-approval.

        We bought the place, but the whole formal approval/unconditional approval, took 25 days.

        Broker told me i was unlucky in this whole procedure.

        • I think that is standard St George.

          I applied with St George for a pre-approval in August. Still waiting….

          Broker told me they are hopeless but so are the rest of the big banks

          • @TheGuru: not true.

            During the auction time, i was pissed ABOUT stg, so i opted to get another pre-approval from NAB (which was what my broker suggested in the first place), came back in 17 days; and higher approval.

            My friends went to the smaller banks it came back within the week and cba was actually the quicker one of the big4.

            I would of never went with STG, if it wasn't for my other loans + loyalty. You are in for a ride when it comes to the unconditional loan, my advice is to somehow buy before auction and grab a cooling off if possible. But then again, could be me.

  • Hi, What is Investor IO rate for 80% LVR?

  • Any reviews with this mortgage broker?

  • +1

    BankSA has been a tererible process. Just refinancing with them, their ESIGN platform was not loading properly and required access to my location otherwise wouldn't work.
    Do not recommend them.
    BankSA and St.George are the same.

    • yeah, we couldn't even submit our desginated account for shortfall/surplus.. aha

  • +1

    1.79% great rates.
    horrible customer service. you will only know when things goes sideways.

    • Yeah took 4 months, simple refinance

  • If I borrow and fully repay the next day. Am I still eligible for the $3000 cashback

    • Unlikely, StGeorge don't pay the bonus until several months after the loan commences.

      However, if your loan is variable with offset account, you could possibly "repay" into the offset account on day 2. The loan is still open, but you aren't paying interest, so close the loan after the bonuses pay out. But go through the terms and conditions with a fine-tooth comb to check this is okay.

      • I got paid $4000 cashback by St George within 1 week of settlement. This was around 2 months back.

        • My mistake, I was thinking of the broker bonus. But also check the terms of the StGeorge deal, to see if there are any "claw-back" provisions if the loan is closed before some specified time has elapsed.

      • Thanks for the advise

      • This depends on the account you have and how you set it up.
        I don't have an offset with them but overpay on my mortgage (essentially the same thing, however).. any monies I pay in before my monthly payment date sits in limbo … I don't have access to it nor does it offset any interest. On my payment date, it then gets swept to my overpayment.

        I did not realise this and for this reason, want to move but not sure, since I went through a broker and got the cash back, whether I need to stay with them for a period of time.

        • +1

          Cash back offers can have "claw back" provisions, where you may have to pay back the cashback if you leave early. There are also "break costs" if any part of your loan has a fixed term and you leave before that term is up. And there are always fees to close down a loan and start a new loan.

          If you don't understand the "legalese" of your loan contract, a quick call to the broker you used should clear it up, just ask them if there are any penalties for leaving now. If the broker isn't helpful, I suggest you talk to the people at your local politician's office. They are very helpful people, and will probably be able to recommend someone to check over your loan contract.

          Also be aware that lenders can see how long you've had your current loan for, and will be reluctant to agree to a new loan if it hasn't been at least two years since your last loan.

          • @Russ: Which banks have claw back clauses for their cashbacks?

            • @El-Rhi: I'm not experienced in this area, but it appears clawback clauses apply to cashback from the broker. Possibly they may affect cashback from the banks, as some banks appear to have their home loan division as a separate company, and the bank merely facilitates the loan.

              Clawback is mentioned quite a lot in home-loan deals:

  • Awful process with SG- submitted my application first week in Oct 2020 and my loan settled 18 Feb 2021, no reason.

  • +1

    I had a horrible experience when i swapped over to St George -

    I ended up switching back after 3 months with them.

    They covered all my fees off switching back and gave me back the yearly fee along with overcharged interest.

    You really need to examine their figures.

    Their loans department is overseas which is why it can take up to 3 months to get anywhere.

    CBA and others are based in Australia

  • Just a word of warning. We went through Len Bundles broker for a home loan previously… the "bank cash back" that was promised in their previous ozbargain posts is misleading. They only give it back in giftcards which you have to pick a retailer for… not cash!

    • Branch lender said it gets paid into the offset account they create for you… But takes up to 60 days… They never said anything about gift cards !?

      • +1

        Sushi is probably referencing the extra broker cashback mentioned in the post

        In ADDITION to bank rebates, we have 0.3% - 0.4% broker rebate (based on net of offset/redraw ie balance owing) for ANY bank or product. (Loans >$250k paid as eGift cards from any retailer of your choice 50/50 at 2 and 24 months after settlement).

    • were they quite prompt though?

  • anyone used their broker service for auction? do they take a while or just same as if i applied directly to the bank?

  • I had applied and got refinanced with St George recently. Just so you all know, I was paying 1780pcm for a 2.49 ING loan (484k) but after refinance 1.89(430k) and 2.54(60k) with STG I am paying 1795. This is excluding the yearly package fee. Now I am no finance guy and probably just thought a lower interest rate will make my monthly repayments less. So make sure you ask for what will be your repayments will be before making the decision. Cashback will definitely help I suppose.

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