Home Loan Cashback
How does Cashback work?
Let's look at an example.
After 12 months, John has repaid $30,000 of a $320,000 home loan in monthly payments of $2,500 ($2,130 minimum monthly repayment, plus $370/month extra). In the below table, you can see the result of what John now has access to through cashback.
Based on a scenario with a 30 year term and a variable interest rate of 7.00% p.a. and a repayment frequency of monthly, with principal and interest repayments.
How do I access Cashback?
1) Register your home loan for Online Cashback
If you’d like to access Online Cashback, you’ll need to register your home loan for this feature, as well as being a registered Internet Banking user. Please note that you must complete separate forms for each home loan you’re requesting Online Cashback for.
How to register your home loan:
- Download a copy of the Registration Form.
- Complete and print the application form. NB: terms and conditions will automatically print and form part of the registration process.
- All Borrowers and Guarantors on the nominated loan must sign the registration form.
- Return page 2 of the registration form via e-mail to ECS@suncorp.com.au, or drop it into your local branch.
As a registered Internet Banking user, you’ll receive a secure message advising the outcome of the Online Cashback registration request. If you do not receive a secure message within ten working days of submitting your registration form, please contact us on 13 11 75.
2) Download a Cashback Withdrawal Request form
If you are not already registered for Internet Banking, you can still access Cashback by downloading the Cashback Withdrawal Request form.
- You will need to download Adobe Acrobat Reader to view this file.
Once you’ve printed and completed the form, please ensure all Borrowers and Guarantors have signed it, then return it to us via email to Loans.Maintenance.Cashback@suncorp.com.au, fax to (07) 3031 2247 or in person at any Suncorp Bank branch.
It then takes approximately 2-3 working days to process your request.
1 You need to apply for Cashback. Terms and Conditions apply. Minimum withdrawal amount is $1000. One free Cashback transaction per calendar month. The Cashback Fee will be charged then refunded to your account. A Cashback Fee applies for subsequent transactions. Cashback is not available on Bridging Loans or Fixed Rate Home Loans.
Home Loans are provided by Suncorp-Metway Ltd ABN 66 010 831 722 Australian Credit Licence 229882 (“Suncorp Bank”) to approved applicants only. Terms, conditions, fees and charges apply and are available upon request.