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$4288 Home Loan Refinance Cashback, Offset Variable Rate from 5.43% (CR 5.81%), 2-Yr Fixed from 5.79% (CR 7.83%) @ Bank of China

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$4288 Home Loan Refinance Cashback, Offset Variable Rate from 5.43% (CR 5.81%), 2-Yr Fixed from 5.79% (CR 7.83%) @ Bank of China
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AssociatedMortgage Broker @ Lending Clinic on 01/07/2023 - 08:10 bankofchina.com (1001 clicks)
Last edited 26/07/2023 - 12:46 by 1 other user

Hello OzBargainers,

Hope you're all doing well.

Bank of China has extended their cashback offer until the end of September, and is offering super competitive deals, whether you want variable rate or fixed rate.

  • $4288 cashback for refinance and $2000 for property purchase, paid within 2 months of settlement.
  • Apply by 30 September 2023 and settle by 31 December 2023.
  • Minimum loan size $250,000.
  • LVR not more than 80%.
  • Repayment direct debit must be from the Bank of China bank account/offset account, and a branch visit is required to open it.
  • Excludes foreign income earners.
  • Excludes customers who received a cashback from Bank of China in the last 12 months.

Some of the popular offers:

Loan Type Variable Rate (LVR <=70%) Variable Rate (LVR 80%) 2-Year Fixed Rate
Owner Occupied (Principal & Interest) 5.43% (CR 5.81%) 5.53% (CR 5.91%) 5.79% (CR 7.83%)
Investment (Principal & Interest) 5.93% (CR 6.30%) 6.03% (CR 6.40%) 6.09% (CR 8.13%)
Investment (Interest Only) 6.23% (CR 6.60%) 6.33% (CR 6.70%) 6.19% (CR 8.15%)
  • Indicative fees: $395 annual fee for variable rate loan ($190 for fixed rate loan if not split with variable), free valuation for property value <=$1m, legal fee/disbursements at cost, Rate Lock fee $700 for fixed rate (optional)
  • Offset account available with the variable rate loan, at no extra charge

We also work with other banks, such as the following:

  • ANZ: $4000 refinance cashback & $3000 first home buyer cashback, variable rates from 5.75% (CR 5.75%)
  • Bank of Queensland: $3000 refinance cashback, variable rates from 5.84% (CR 5.99%)
  • ME Bank: $2000-$4000 refinance cashback per property, variable rates from 5.93% (CR 5.95%)
  • St.George/Bank of Melbourne/BankSA: $2000 refinance cashback, variable rates from 5.72% (CR 6.06%)

Kind regards,

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

Financial Cashback Home Loan Investment Loan Loan Refinance

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closed Comments

  • hopper on 01/07/2023 - 08:16
    +34

    Just came for comments

    • Neoika on 01/07/2023 - 08:30
      +6

      Why not offer 4.43% and $5288 cashback so that China gets all the homeloans refinced to? It seems to be a good way to obtain all the data.

      • Spamazon on 01/07/2023 - 08:34
        +2

        They have your data anyway.

      • Frozensage on 01/07/2023 - 09:59
        +1

        ppl are all very precious about your data, just looking at all the comments on instagram and facebook

    • M and O on 01/07/2023 - 08:42

      same here

    • Whatisthatvelvet on 01/07/2023 - 09:39
      +1

      Would have been my exact comment

    • star-ggg on 01/07/2023 - 11:23
      +3

      I wonder how many Ozbargainers railing against BoC have a HSBC 2% cashback account.

    • gbnbb10 on 05/07/2023 - 01:15

      After today's no rate change, why doesn't anybody here discuss about IMB Bank who are offering 5.49% 2yr fixed, 5.69% variable (Cashback Payment for loans between $250,000 and $500,000 is $2,000, and Cashback Payment for loans $500,000 and over is $4,000. Borrowers are eligible for one Cashback Payment in a 12-month period)

  • Wizard on 01/07/2023 - 08:32
    +4

    Throw in a Bing Chilling and we have a deal.

  • mooreshady on 01/07/2023 - 08:32
    +1

    Not bad considering cash back elsewhere is pretty low or no

  • Nintendo on 01/07/2023 - 08:32
    +1

    Hmmm, interesting…

  • Moostyle on 01/07/2023 - 08:33
    +2

    I wouldn't be comfortable having anything accessible from a state-owned bank

    • duodeta on 01/07/2023 - 09:19
      -6

      Like Commbank?

      • Luckypenguin on 01/07/2023 - 10:31
        +3

        Where have you been for the last twenty years?

    • TightAl on 01/07/2023 - 11:07
      -2

      Lmao loser mentality.

    • Fuzor on 12/07/2023 - 01:03

      State owned is always better than private and a big reason I use Red energy/Lumo energy as my utility retailer. Governments bail public out when Porter Davis goes down, Governments bail industries out when General Motor goes bankrupt, Governments gives handouts when gas/electricity companies tries to kill you with crazy rates. Now there's gonna be a State Electricity Commission brought back in after so many years of capitalism at work giving us record billing inflation and the utility fat cats record profit.

  • Slo20 on 01/07/2023 - 08:45
    +1

    and a branch visit is required to open it.

    Only 2 branches whole of QLD. Be sure to check if there’s one near you before applying.

    • GS9891 on 23/07/2023 - 14:11

      In the exact same general locations as the only two HSBC branches in all of QLD lmao, good old Sunnybank.

  • avitherock on 01/07/2023 - 08:45

    How long do I have to keep the loan with them?

    • virtualds on 01/07/2023 - 08:48
      +4

      Until you get cashback. Then move somewhere else

      • avitherock on 01/07/2023 - 10:35

        Do brokers have any rule about keeping the loan alive for a certain period?

        • zonra on 01/07/2023 - 11:07

          Most would claw back brokerage fee if you don’t keep the loan for at least 6-12 months. Check the fine print when you engage them.

          • avitherock on 01/07/2023 - 12:11

            @zonra: @Mortgage Broker please confirm

            • AssociatedMortgage Broker @ Lending Clinic on 01/07/2023 - 12:23
              +3

              @avitherock: We don't charge clawback fee but we do need to pay the clawback to the bank. Hence we prefer customers who will stay longer term, at least 12 months, and ideally 24 months. For short-term refinancers, we tend to suggest applying directly to the bank, and perhaps we can help after they get tired of refinancing and want to settle down :)

              • avitherock on 03/07/2023 - 17:53

                @Mortgage Broker: @Mortgage Broker - can you please advise how to apply directly with BOC?

                • AssociatedMortgage Broker @ Lending Clinic on 03/07/2023 - 17:56

                  @avitherock: Can call or visit the branch. I don’t think they have an online application link.

  • worker on 01/07/2023 - 08:52

    Sometimes the deal is just not worth it.
    BOC is very suspicious.

    https://www.dailymail.co.uk/news/article-11056565/Bank-China…

    • bemybubble on 01/07/2023 - 08:54
      +21

      Thank you for negging with such a reliable source

    • playaz91 on 01/07/2023 - 08:59
      +7

      Ah yes the daily mail, great source of info.

      • abc on 01/07/2023 - 09:35
        +4

        Daily Fail

  • bobbie34567 on 01/07/2023 - 08:58
    +5

    Might as well, they already own all our farms and companies..

    • tunzafun001 on 01/07/2023 - 11:08
      +1

      And minor things …like entire power supply grids .

  • Wt133 on 01/07/2023 - 09:09
    +10

    I wouldn’t trust BOC with the increasing number of defaults on mortgages. I also don’t want to support a communist country and enable more foreign property investors coming in and buying up.

      • incipient on 01/07/2023 - 11:32
        +4

        Their economy - day to day - is fairly capitalist, while their strategy is strongly mercanalist. Their government however is purely authoritarian communism.

        • MaxHashrate on 01/07/2023 - 12:18
          -1

          Imagine calling them capitalist and communist at the same time.

          Geez lmao

          • incipient on 01/07/2023 - 13:20
            +1

            @MaxHashrate: Imagine not understanding day to day economics can be different to how a government operates strategically. Big oof.

            • MaxHashrate on 01/07/2023 - 14:40
              -3

              @incipient: Lmao U are the one calling a govt fairly capitalist and communist at the same time. Not me.

              Perhaps read more books.

              • incipient on 01/07/2023 - 14:44
                -1

                @MaxHashrate:

                Their economy - day to day - is fairly capitalist

                government however is purely authoritarian communism

                you're not one with the reading are you?

                Anyway, off topic enough I think haha =P

                • MaxHashrate on 01/07/2023 - 15:49

                  @incipient: Lol that's state capitalism which is what I said.

                  Saying what U said is like me saying U are a fairly uneducated intellectual lmao

      • Swing on 02/07/2023 - 23:57

        Communism is never going to work, it's fundamentally flawed and unlikely to succeed, even china knows that, so officially identifies itself as practicing socialism with chinese characteristics.

    • TightAl on 01/07/2023 - 11:10
      -1

      Because only chinse foreign investors invest in Australia. Lmao
      With this logic, you should become the PM. Perhaps you should bank with Goldman Sachs or JP Morgan and fund more WMD adventures

    • dcep on 01/07/2023 - 11:34
      +3

      what's up with banks on increasing number of defaults on mortgages ?

      if banks fail , your mortgage gets sold to another banks and you continue with repayments or refinance away …

      else you get your home for free if nobodys owning your mortgage debt

      • Wt133 on 01/07/2023 - 19:28
        -2

        I’m sure when the war with Taiwan goes down people with BOC will have an excellent time

        • dcep on 01/07/2023 - 21:56

          Yeah maybe Australia will sanction / seize / freeze BoC assets , so ppl with BoC gets their home for free.

          • Wt133 on 01/07/2023 - 23:33
            -1

            @dcep: Ha I doubt that will happen.

            • Alistair79 on 03/07/2023 - 10:46
              +1

              @Wt133: Yeah! More likely the Chinese army would be sent into Australian suburbs to secure individual properties…

  • chickennix on 01/07/2023 - 09:21

    With these cashback deals.. do you receive the payment directly or does it simply come off your mortgage?

    • Nintendo on 01/07/2023 - 09:35
      -1

      I guess off mortgage

    • stockastics on 01/07/2023 - 09:37
      +1

      Direct payment

    • Whatisthatvelvet on 01/07/2023 - 09:53
      +1

      All I've received have been paid into linked savings account

    • lafriel on 01/07/2023 - 09:54
      +1

      Direct payment as cash into your bank account, tax free.

      If you're not spending the money immediately, I would recommend parking it into your offset or loan account to reduce interest, and only taking it out when needed.

    • Drogo on 01/07/2023 - 10:25
      -1

      100%

  • bennybaubles on 01/07/2023 - 09:48
    +3

    Not sure why there’s so much hate on the CCR. I’d fully trust them to own my home and in times of need possibly work out a payment plan.Their track record on human rights and compassion speaks for itself.

    • Drogo on 01/07/2023 - 10:26

      I needed a laugh. Thankyou

    • dealhunter52 on 01/07/2023 - 10:35

      😂😂

    • awaiko on 01/07/2023 - 11:02
      +1

      Had me going in the first half…!

    • bemybubble on 03/07/2023 - 20:57
      +1

      Are we related?

      • bennybaubles on 09/07/2023 - 20:03
        +1

        You’re my younger sibling who has trouble spelling their name😀

  • Frozensage on 01/07/2023 - 09:59
    +6

    If this was bank of england then no one would have any issues right?

    • worker on 01/07/2023 - 10:02
      -1

      I think many would agree that any type of foreign ownership is no good, no matter the country.

      • cheapskate101 on 01/07/2023 - 14:32

        That's all the big 4 in Australia… But ownership by other white English speaking countries. So I guess that's ok. Right?

    • TightAl on 01/07/2023 - 11:11
      -1

      It's the quiet racist that don't say a word in real life that like to bicker online.
      They'd perfer to bank with an American bank because they've been the beacon of peace for the last 20 years LMAO

      • Wizard on 01/07/2023 - 12:08
        +1

        China comunist = Bad.
        Usa democracy = good

    • Luckypenguin on 01/07/2023 - 13:07
      +1

      Central banks do home loans, now?!?

      • cheapskate101 on 01/07/2023 - 14:33
        +1

        People's bank of China is the central bank not Bank of China. I think.

  • Sidor on 01/07/2023 - 10:20
    +5

    Will they approve loan if you are uyghur?

    • Loki556 on 01/07/2023 - 10:22
      +5

      You could get free accommodation

      • incipient on 01/07/2023 - 11:34
        +2

        Wow. Dark.

    • dealhunter52 on 01/07/2023 - 10:40
      +4

      They might invite you for a short visit on mainland to do some paperwork. Nothing sinister and definitely no internment/re-education.

    • TightAl on 01/07/2023 - 11:11
      -6

      Imagine believing the Uyghur lies in 2023 lmao.
      Ded

      • dealhunter52 on 01/07/2023 - 12:07
        +2

        Fortunately, we don't have censored media. There is literally mountain of evidence, including satellite images, leaked state documents and victim testimonies.

        CNN
        The Guardian
        VOX
        NBC
        BBC
        Al Jazeera
        HRW ORG

        • TightAl on 01/07/2023 - 12:17
          -6

          If chinese want to unalive Uyghurs, why have their numbers almost doubled in the last 10 years?
          Must be doing a horrible job lmao. Try again

          • dealhunter52 on 01/07/2023 - 12:28
            +4

            @TightAl: Did you count them yourself or did you take CCP's word for it?

            Seems I'm arguing with a CCP bot which is pointless. I suggest reading 1984 by George Orwell to undo all the brainwashing.

            • TightAl on 01/07/2023 - 12:29
              -1

              @dealhunter52: Haha well obviously you counted them, I'll trust you thanks LoL logic.

              Imagine being scared of the chinese bogeyman who hasn't invaded anyone, incited fake wars, doesnt have 500 bases around the world. You better off yourself is thats your fear lmao.

              • eman resu on 01/07/2023 - 12:42
                +2

                @TightAl: I liked China more when it was owned by the East India company

              • bennybaubles on 01/07/2023 - 13:28
                +3

                @TightAl: I’d be scared of the tanks if I was a student protesting against the fascist regime in Tiananmen Square.

                • TightAl on 01/07/2023 - 13:54

                  @bennybaubles: Oh I love history, you mean like Rabbit Proof fence, or when Australia wiped out most of the indigenous? Or when they were crossed breed?

                  History <3

                  • bennybaubles on 01/07/2023 - 14:42
                    +1

                    @TightAl: The only problem with that argument is that China is continuing the oppression to this day.

                    • TightAl on 01/07/2023 - 16:08

                      @bennybaubles: Ohh tall poppy syndrome ok got you bro. Maybe goto NT and see how the indigenous tribes feel about the govt. They might tell you the same thing 🫠

                      They've alleviated hundreds of million out of famine and poverty. But ok.

      • Wizard on 01/07/2023 - 12:09
        +4

        You are a ccp bot biased to ccp by your commentary narrative.

        • TightAl on 01/07/2023 - 12:17
          +2

          You're a bootlicker shhh deploy to Iraq and Afghanistan thanks

          • Wizard on 01/07/2023 - 12:46

            @TightAl: Get out of Australia if you dont like our values.

            • TightAl on 01/07/2023 - 12:48
              +5

              @Wizard: Lmao the indigenous probably say the same to you. Good one.

    • Frozensage on 01/07/2023 - 12:02
      +1

      The question is would ANZ look less favourably if you were an aboriginal?

  • Loki556 on 01/07/2023 - 10:26

    Would government guarantees on deposit accounts extend to bank of China? I would think yes, as I am sure you would be dealing with Australian entity.

  • JuryWheel on 01/07/2023 - 10:40
    +1

    $395 annual fee is v.steep these days…

    • TightAl on 01/07/2023 - 11:12
      +2

      Normal for package products I think

  • tunzafun001 on 01/07/2023 - 11:09
    +2

    Can I get the US loan ….. Never pay a cent…and declare we aren't defaulting…

    Anyone got a nuke I can borrow?

  • star-ggg on 01/07/2023 - 11:18

    Anyone bank with them? How's their online platform in terms of user friendliness?

  • jcarl on 01/07/2023 - 11:27

    Hyuge bargain

  • hopper on 01/07/2023 - 11:41

    This with xiaomi smart home setup while using huawei phone is a DEADLY combo

  • bloomingheck on 01/07/2023 - 12:44
    +3

    Can Taiwanese apply? Asking for a friend.

    • tg on 01/07/2023 - 14:02

      I cannot see how BOC can tell that your friend is Taiwanese unless your friend uses "Republic of China" passport as the Primary ID in the application.

      • bloomingheck on 01/07/2023 - 15:59

        https://en.wikipedia.org/wiki/Taiwan_passport#/media/File:Republic_of_China_(Taiwan)_Passport_2020.svg

        Valid form of ID?

  • freedomofspeech on 01/07/2023 - 13:19

    China…

    • Loki556 on 01/07/2023 - 14:13
      +1

      Here is one for you - ongoing market competition with China is the the ONLY way freedom of speech and though will be maintained in the West. The “decoupling” will just lead to more curtailing of freedoms in the name of the fight against the enemy.

      The most democratic period in recent history was 1995-2001 when the West had no enemy to fight.

  • DrScavenger on 01/07/2023 - 14:13
    +6

    People negging just because it's China smh.

    I'm sure they show the same diligence to American banks s/

    • bloomingheck on 01/07/2023 - 16:01
      +3

      Maybe because American banks don't belong to the US Government, and the US Government don't have social credit system? Just a thought

      • TightAl on 01/07/2023 - 16:06
        -1

        Social credit system is literally a myth lmao. Imagine being that gullible

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