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In a move to benefit as many home buyers and owners as possible, customer owned bank BCU has released a cashback offer with a notable difference. New and existing customers who take out an eligible new home loan with BCU can earn up to $5,000 cashback per loan, calculated as 0.75% of the value of new loan amount.

The offer will be available for a limited time for each eligible new loan a customer takes out with BCU, creating an opportunity for customers with multiple investment properties to receive multiple cashback payments.

BCU have extended the more typical cashback offer to include the following eligible circumstances:

  • home loan refinances from other financial institutions
  • new home loans for established properties and construction loans
  • fixed or variable rate home loans
  • owner-occupied or investment home loans.

In announcing the unique new offer, BCU’s Senior Retail Distribution Manager, Adam Cross, said the combination of BCU’s highly competitive home loan rates and the cashback offer would provide exceptional value to a range of different

“As a customer-owned bank, we are not here to make profits for third party shareholders and are able to return as much profit as possible through our competitive product offering,” said Mr Cross.

“By calculating the cashback amount each customer can receive as a percentage of their new loan balance, we’re able to create a unique offering without a one size fits all approach.

“Whether a first home buyer, investor or looking to refinance, each customers’ situation and cashback amount is assessed and determined individually.

“Being able to help customers achieve their financial dreams sooner than they may have expected is something we at BCU are all really proud of.”

For more information, including full terms and conditions visit bcu.com.au.

Lending must be new to BCU (refinances of existing BCU and P&N Bank loans are excluded from this offer). Credit products issued by Police & Nurses Limited (BCU) ABN 69 087 651 876 AFSL/Australian Credit Licence 240701.