Refinancing › Are refinance cashback offers worth it?

Are refinance cashback offers worth it?

Sometimes, but a cashback is only worthwhile if the loan behind it is competitive. A large cashback attached to a higher rate can cost you more over time than a smaller or no cashback on a sharper rate. Compare the whole deal.

Written by Ross McFarlane, Licensed Mortgage Broker (Credit Representative 526725). About the author

Why this matters

Cashbacks are designed to grab attention, and they can be genuinely useful, but the headline number is not the whole story. The rate and fees over the years you hold the loan usually matter far more than a one off payment, so the cashback should be the tiebreaker, not the decision.

The key points

A cashback only helps if the underlying loan is competitive.
A big cashback on a high rate can cost more long term.
Compare the rate and fees, not just the cashback.

Free, no obligation

See if refinancing stacks up for you

Answer a few quick questions and we can compare your loan against a panel of more than 70 lenders. No cost, no obligation.

Check Your Options

A few quick questions, no obligation.

What is your goal?

Buy a home or investment property First home, next home, or adding to your portfolio Build a house or develop land New build, renovation, duplex, or subdivision project Lower my current repayments Better rate, release equity, or restructure existing debt Finance an established commercial property Business premises or commercial investment asset

Tell us a bit more about the plan

How do you earn your income?

Standard salary or wage Full-time, part-time, or casual employment (PAYG) Self-employed or business owner Sole trader, company director, or contractor

How is your credit score?

This helps us match you to the right lender from the start.

Healthy No issues that I am aware of A few small marks A couple of late payments, now caught up Not sure, or it is complicated We work with specialist lenders for these situations

Last step. Where should we send your options?

Your information is private and we will never share it.

First Name

Last Name

Email Address

Australian Mobile Number

By submitting, you agree to be contacted by one of our team of licensed mortgage brokers. No obligation. No spam.

You're all set.

We've received your details. One of our friendly brokers will reach out within 1 business day to help guide you through your options.

More refinancing questions

Back to the full Refinancing guide

Last reviewed: June 2026

General information only. This page provides general information about home loans and is not financial or credit advice, a quote, or a guarantee, and your personal circumstances have not been considered. Lending policies, interest rates, fees and eligibility vary by lender and change over time. Always confirm your own situation with a licensed mortgage broker or lender before acting. Ross McFarlane (Credit Representative 526725) is an authorised Credit Representative of Australian Associated Advisers Pty Ltd t/a Keylend, Australian Credit Licence 392169.