Citibank has extended their cashback offer to 31 May 2022 and loan is to be settled by 31 Aug 2022.
10 May Update: The fixed rates quoted below have changed following the decision to increase the official interest rate by the Reserve Bank. The variable rates remain valid for the time being.
Great cashback and great variable rates for both refinance AND purchase applications. Note that there is only one cashback per customer, irrespective of the number of properties.
Cashback’s conditions are:
- $3,000 cashback offer where the amount is less than $750,000
- $4,000 cashback offer where home loan amount is $750,000 or more.
- $6,000 cashback offer where home loan amount is $1,000,000 or more
- Applicable for new purchase and refinance applications
- Minimum refinance and or purchase home loan amount of $350,000
- Repayment type can be principal and interest and/or interest only
- Only one cashback offers per eligible home loan capped to one cashback offer per applicant within a 12 month period from the last settlement date to the current application submission date.
- Eligible Citi home loan products: Basic Variable, Standard Variable, Standard Offset and Standard Fixed
- For new purchase and refinance applications submitted prior to 31 May 2022 and loan is to be settled by 31 Aug 2022.
Rates highlight:
Owner occupied P&I with comparison rate (CR)
2 years fixed 3.09% CR 2.83% at 80% LVR
3 years fixed 3.49% CR2.74% at 80% LVR
Basic Variable 1.99% CR 2.04% at 80% LVR
Standard Variable with Offset 2.29% CR 2.45% at 80% LVR
Investment P&I with comparison rate (CR)
2 years fixed 3.39% CR 3.17% at 80% LVR
3 years fixed 3.79% CR 3.08% at 80% LVR
Basic Variable 2.21% CR 2.26% at 80%
Standard Variable with Offset 2.64% CR 2.79% at 80%
Other refinancing rebates available:
ING - Get up to $3,000 cashback when you refinance your home loan before 31 March 2022 T&Cs apply.
BOQ - Get up to $3,000 cashback when you refinance your home loan before 15 April 2022 T&Cs apply.
MYSTATE - Get up to $3,000 cashback when you refinance your home loan until 28 Feb 2022 T&Cs apply.
ME - Get up to $3,000 cashback when you refinance your home loan until 30 May 2022 T&Cs apply
There are other rebates not listed above and we can show them to you as part of our analysis.
Comparison Rates
Each comparison rate is based on $150,000 over 25 years. These comparison rates apply only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Comparison rates for Interest Only Fixed Rate home loans are based on an initial Interest Only period equal in length to the fixed rate period. Comparison rates for Interest Only Variable home loans are based on an initial 5-year Interest Only period.
Broker Rebate Terms and Conditions
We are offering a $500 upfront cashback for loan greater than $500k (excluding offset and redraw) for any fixed term loan of 2 years or more. $1,000 upfront cashback for loans $1M and above (excluding offset and redraw) for any fixed term loan of 2 years or more.
Maximum of 1 cashback per household.
Let’s chat for a no-obligation meeting via Calendly booking or call me directly.
James Sim - Senior Mortgage Broker
M: 02 8319 4862 / 0487 000 098
E: [email protected]
W: https://www.nectarmortgages.com.au/project/james-sim/ or http://jamessimbroker.com.au
Australian Credit License number 387856
Is Citi the only bank that offers cashback for new mortgages?