$2,888 Cashback on Home Refinance/Purchase, O.Oc 5.18% (CR 5.38%), Inv. I/O 5.38% (CR 5.58%) + 0.10% Broker CB @ Bank of China

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$2,888 Cashback on Home Refinance/Purchase, O.Oc 5.18% (CR 5.38%), Inv. I/O 5.38% (CR 5.58%) + 0.10% Broker CB @ Bank of China
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AssociatedMortgage Broker @ Lending Clinic on 04/11/2025 - 11:51 bankofchina.com (339 clicks)
Last edited 04/11/2025 - 18:55 by 1 other user

Hello Everyone,

Thank you for your support so far.

Bank of China has announced a new home loan offer for November, now offering the following:

  • $2,888 cashback and first-year annual fee waiver when borrowing at least $400K, to refinance or purchase a property.
  • Variable rates: 5.18% owner-occupied P&I, 5.38% investment for either P&I or Interest Only repayment.
  • Fixed rates: 4.99% 1-year or 2-year owner-occupied P&I, 5.09% 1-year or 2-year investment P&I.
  • Settlement must be by 31 December 2025.

Other T&C's from the bank:

  • Special Rates, Discounts and Cash Rebates are available for loan applications received 3 November 2025 to 31 December 2025, and exclude Construction Loans.
  • Promotional rates and cash rebates offers are available for loan applications fully assessed on Australian-sourced Income with an LVR ≤ 80%.
  • Applicants are entitled to only one Cash Rebate in any 12 month period. For joint applicants one Cash Rebate applies jointly and all applicants must be eligible for the Cash Rebate to be paid, and Loan amount is equal to or more than $400K.
  • The first-year annual fee waiver applies to external refinanced or new purchase eligible loans if the borrower sets up a Bank of China account for direct debit of loan repayments.
  • Cash rebates offer applies for home loan applications with new security property to Bank of China.
  • No special offers for LMI applications.
  • Any changes will be updated accordingly at any time without notice during this promotion period.

The Bank of China offer can be combined with our Broker Cashback offer below:

  • Broker cashback of 0.10% of the effective loan balance (net of funds in offset account).
  • Half of the broker cashback will be paid after 12 months, the other half after 24 months, if you still have the loan.
  • Please quote this offer when you contact us.

Other bank cashback offers we have:

  • ANZ: $3,000 first home buyer cashback (min loan $250K)
  • ME Bank: $3,000 refinance cashback (min loan $700K) per property

Please reach out if we can be of assistance.

Kind regards,

Arman Soetanto
M: 0431 825 128
E: contact@lendingclinic.com.au
W: www.lendingclinic.com.au
Lending Clinic Pty Ltd (Credit Representative Number 511270) is authorised under Australian Credit Licence Number 384704

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Comments

Search through all the comments in this post.
  • RR88 on 04/11/2025 - 12:59
    +6

    $8,888 cash back and i will consider it

    • mwahahaha on 04/11/2025 - 13:44
      +2

      Asian to asian pricing?

      • Dr Fruit on 04/11/2025 - 16:37
        +2

        True Asian heavies do 888/8888 cashback on coin flip

  • Lolitsjoel on 04/11/2025 - 13:27
    +1

    What’s rate for 70%LVR at anz?

    • AssociatedMortgage Broker @ Lending Clinic on 04/11/2025 - 13:44

      Negotiated rates may depend on loan size and some other factors, but should be able to get 5.31%-5.43% variable rates for owner-occupied loan.

  • bs0 on 04/11/2025 - 13:41

    Currently have 5.09% variable with Westpac, IP.

    • carlJack on 04/11/2025 - 13:48
      +3

      how did you get 5.09%?

      • bs0 on 05/11/2025 - 07:13

        Same loan since I first mortgaged in about 2022. Westpac has consistently matched the rate drops.

    • AssociatedMortgage Broker @ Lending Clinic on 04/11/2025 - 13:49
      +1

      One of the lucky loans from 1-2 years ago, right? Haven't seen 5.09% for new loans recently.

    • tnarg on 04/11/2025 - 16:19

      Yep im on 5.1 with Westpac Variable

      • carlJack on 04/11/2025 - 19:16

        with offset?

        • tnarg on 04/11/2025 - 20:35

          Full offset and multi accounts

  • star-ggg on 04/11/2025 - 13:46

    Application fees? CB for one property only per application?

    • AssociatedMortgage Broker @ Lending Clinic on 04/11/2025 - 13:51

      Bank of China doesn't charge application fee, but they pass on their solicitor's legal fee at cost (usually around $500). Property valuation is covered by the bank if the property value is <=$1m, otherwise it's charged at cost. Cashback from Bank of China is 1 per client within 12 months (ME Bank can offer $3k cashback per property, if refinancing at least $700k for that property).

      • star-ggg on 04/11/2025 - 13:52

        do they always do a property valuation? What if my LVR is 50%?

        • AssociatedMortgage Broker @ Lending Clinic on 04/11/2025 - 13:53

          Yes property valuation is always done. But it's likely to be desktop valuation and the cost is usually small (and it's paid by the bank if the property value is <=$1m).

          • star-ggg on 04/11/2025 - 14:00

            @Mortgage Broker: how long is time from application submission to settlement now?

            • AssociatedMortgage Broker @ Lending Clinic on 04/11/2025 - 14:10

              @star-ggg: Currently they're pretty quick, we're seeing approvals in 1-2 weeks. Settlement in around a month is possible as of now.

          • san87 on 04/11/2025 - 15:43

            @Mortgage Broker: How much does a desktop valuation cost if the property price is over $1 million and the LVR is 50%? Is there any additional cost?

            • AssociatedMortgage Broker @ Lending Clinic on 04/11/2025 - 16:04

              @san87: It's likely to be around $200 but it can vary.

  • jabroni on 04/11/2025 - 13:53
    +1

    isnt their variable 5.08% thats what im on right now

    • AssociatedMortgage Broker @ Lending Clinic on 04/11/2025 - 13:54
      +1

      Current offer is 5.18% (for new loans starting today). They change offers from time to time and have been passing on the RBA rate cuts in full for the existing loans.

  • freekay on 04/11/2025 - 14:09

    What's the annual fee?

    • AssociatedMortgage Broker @ Lending Clinic on 04/11/2025 - 14:10
      +1

      $190 if you don't need offset account, $395 with offset, first year waived in either case.

  • Gowrie29 on 04/11/2025 - 16:03
    +1

    Help a numerically challenged Ozbargainer out.

    The broker cashback at 0.1%, for 800k, is that 800,000 X 0.01 or 0.001?

    • AssociatedMortgage Broker @ Lending Clinic on 04/11/2025 - 16:05
      +1

      It'll be 0.001 ($800 cashback for $800k loan)

  • bumpyhead on 04/11/2025 - 18:18
    +1

    not a bad deal, only concern is whether it is easy to discharge without hassle?

    • AssociatedMortgage Broker @ Lending Clinic on 04/11/2025 - 18:55

      I don't see any problem with discharge, just need to submit the form as soon as you know you want to refinance or sell the property (so you have plenty of time)

  • nicolascage on 04/11/2025 - 20:41

    I’m with BoC, I got in on their previous deal which offered $3k cashback.

    Their app is kinda shitty. There’s no Apple Pay. And you can only Osko transfer $1K.

    Some positives are the lower rate and the daily accrued interest that can be seen in the app.

    • san87 on 04/11/2025 - 21:15

      How do you transfer large amounts? Also, do you know what the total refinancing costs were?

      • nicolascage on 13/11/2025 - 00:23

        Just standard transfer but it’s not instant

    • star-ggg on 04/11/2025 - 23:28
      +1

      So there's no point having an offset with them? That's a really bad offset account if you can't transfer large amounts in and out instantly.

      • nicolascage on 13/11/2025 - 00:29

        Why is that? How often do you need to transfer large amounts to your offset?

        • star-ggg on 13/11/2025 - 00:41
          +1

          When I want to buy shares today not 24hrs later.

    • AssociatedMortgage Broker @ Lending Clinic on 09/11/2025 - 12:25
      +1

      Just thought I'd mention that it's possible to transfer $50k via normal transfer (arrives the next day). The $1k limit is only for Osko (instant transfer).

  • bravemeow on 10/11/2025 - 10:16

    Applicants are entitled to only one Cash Rebate in any 12 month period.

    I’m trying to confirm the eligibility.

    For example, if someone refinanced to BoC in November 2024 and received the Cashback in December 2024, then refinanced to another bank in July 2025, would they be eligible to refinance back to BoC in December 2025 and receive the Cashback again?

  • TEER3X on 15/11/2025 - 14:58

    Current interest rate is 5.39% with a redraw account, why would I choose not to refinance?

    Seems like a no brainer, or am I missing something?

  • Iwantthebestprice on 16/11/2025 - 00:30

    Hi OP, is BOc 80% LVR requirement? Or happy with 90% and still eligible for cashback?

    • AssociatedMortgage Broker @ Lending Clinic on 16/11/2025 - 08:37

      Maximum 80% LVR

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