Dear OzBargainers,
Hope this post finds everyone well.
NAB has notified us that their REFINANCE rebate offer is ending on 30 June 2023. This offer will continue to be available to customers who apply by 30 June 2023 and drawdown by 30 September 2023.
For Refinances NAB is offering a cashback amount. Please see the breakdown below:
• $2,000 cashback for a new refinanced home loan of $250,000 or more.
• The primary applicant must have a NAB transaction account open at the time of drawdown in order to receive payment of the Cash Bonus and this will be paid automatically within 90 days of drawdown.
• The offer is available to individual applicants who are owner-occupiers or investors and excludes refinances of First Home Loan Deposit Scheme loans, non-residents, businesses, trusts and other non-natural persons as borrowers.
• The offer is only available on refinances from another financial institution (excluding NAB, UBank, Citi Australia, Medfin or Advantedge home loans) and is not available for refinances into UBank, Citi Australia, Medfin or Advantedge home loans.
Please see below for NAB's current variable rates Loan:
Owner Occupied (Redraw Only):
• P&I Variable - 5.89% (Comp Rate: 5.93%) for LVR 80% or less
Owner Occupied (Offset with $8 monthly service fee):
• P&I Variable LVR 60% - 7.07% (Comp Rate: 7.15%)
• P&I Variable LVR 80% - 7.27% (Comp Rate: 7.35%)
We would like to inform you about the fees that may apply:
• Monthly fee - $8 (applies only to offset accounts)
• Discharge fee - $350
We offer several other products, here are some examples:
• ANZ - 5.79% variable rate for Owner Occupied: Up to $4,000 cashback from the bank + 0.60% of the balance cash rebate from us
• Bank of Melbourne - 5.24% variable rate for Owner Occupied: Up to $4,000 cashback from the bank + 0.60% of the balance cash rebate from us
• Suncorp - 5.54% variable rate for Owner Occupied: Up to $4,000 cashback from the bank + 0.60% of the balance cash rebate from us
• Westpac - 5.24% variable rate for Owner Occupied: Up to $3,500 cashback from the bank + 0.60% of the balance cash rebate from us
If you need an estimate of the applicable rates, please don't hesitate to call or email us with the following information:
• Owner Occupied / Investment;
• Principal & Interest / Interest Only;
• Loan Amount;
• Property Value;
In addition to the NAB cashback, With Cashback, as your mortgage broker, offer extra cashback to our customers (withcashback.com.au). The cashback amount from us will be 0.60% of the loan balance. Here are some examples:
• $3,000 cashback for a home loan of $500,000
• $6,000 cashback for a home loan of $1,000,000
Our cashback will be paid to you at the following intervals from the settlement date:
• After Year 1: First 50% of the cashback to your nominated bank account.
• After Year 2: Remaining 50% of the cashback to your nominated bank account.
To summarize, if you are refinancing a $1 million loan, you will receive: $2,000 (from NAB) + $6,000 (from With Cashback) = $8,000 in total.
Feel free to contact us at:
Phone: 1300 685 008
Email: [email protected]
Website: www.withcashback.com.au
With Cashback Pty Ltd ACN 620 888 502 is registered with the Australian Securities and Investment Commission as an Authorized Representative number 502385 under FreedomLend Pty Ltd ACN 604 868 957, Australian Credit License 498325.
I cannot understand the rate difference here
Owner Occupied (Redraw Only):
• P&I Variable - 5.89% (Comp Rate: 5.93%) for LVR 80% or less
Owner Occupied (Offset with $8 monthly service fee):
• P&I Variable LVR 60% - 7.07% (Comp Rate: 7.15%)
• P&I Variable LVR 80% - 7.27% (Comp Rate: 7.35%)