ubank now offering $5,000 cashback to new home loan customers

Digital lender ubank, a subsidiary of NAB, is now offering new home loan customers and refinancers up to $5,000 when they sign up — among the most generous cashback offers from lenders we track.

Chief lending product officer at ubank, Kanishka Raja, said the bank has seen a 78% increase in digital home loan applications, as Australians scramble to beat inflation by getting a better deal on their mortgages.

The cashback offer is available to eligible customers who apply for a new loan or refinance their existing one by 28 February 2023 and settle by 30 April 2023.

Customers borrowing between $250,000 and $1 million will receive $4,000 cash back while those taking out loans higher than $1 million will get $5,000 in their pocket.

Importantly, all loans must have a loan-to-value ratio of 80% or less to be eligible, and the offer does not extend to those refinancing from within the NAB Group.

If you’re wondering how ubank’s current offerings compare to other home loans on the market, we’ve highlighted just a few products and their features below.

For a look at other offers, browse our home loan comparison page, where you'll be able to filter your search by rate and type.