We are offering a Refinance Cashback of $2,000 to customers who refinance their home loan from another financial institution to CommBank.

Applications must be submitted by Saturday 31 December 2022, with loans funded by Friday 31 March 2023. Minimum refinance amount $250,000. This offer is not available for Bridging Loans. Limit of one $2,000 cashback per borrowing entity and per customer over a 12-month period.

Eligibility

• Owner Occupied Home Loans; and
• All Investment Home Loans.

Criteria

• Offer available on eligible home loans funded on and from 1 January 2020 (except for Owner Occupied Interest Only home loans, which are eligible if funded on or from 7 April 2020.
• Customers must refinance their eligible Home/Investment Home Loan from an Other Financial Institution (OFI), i.e. other than Commonwealth Bank or Bankwest.
• The refinance amount from the OFI must be $250,000 or more. New money and Top Up applications are not included in the $250,000.
• Refinancing of an existing Commonwealth Bank or Bankwest Home/ Investment Home Loan is not eligible for this offer.
• Limit of one $2,000 cashback payment per borrowing entity and per customer over a 12 month period.
• We will credit the $2,000 cashback amount only to a CommBank Transaction Account within 90 days of loan funding.
• We will not combine the $2,000 cashback offer with our MAV fee waiver.

Process

• Customers with eligible applications will be credited the cashback payment to their Commonwealth Bank transaction account within 90 days of loan funding. You no longer need to complete a request in the Home Loan Pricing Tool (HLPT) for the customer to receive the $2,000 OFI Refinance Cashback offer.

Rate Lock: $500 Offer

To support our customers, we recently introduced a new Rate Lock Offer, where we are offering customers a discounted Rate Lock Fee of $500 per account (normally $750) from 1 February 2022 until 30 September 2022. Full offer details are available on CommBroker.

Please note and share with the customer that the Rate Lock fee already paid by the customer is not refundable if the customer changes their mind, does not proceed with the application, or changes the product type or term.

Please note: Rate Lock is not available on Home Seeker, switching, splitting, top ups or repayment change applications.