With increased competition in the home loan market NAB announced that they are happy to extend the the $2000 Refinance cashback offer until the 31 December 2019.
How do you qualify for this NAB $2000 refinance bonus?
- The refinance bonus is only available on refinances from another financial institution (excluding UBank and Advantedge)
- Must have an owner-occupier or investor new purchase or credit extension home loan of $250,000 or more with NAB
- It can be either principal and interest or interest-only repayment schedules
- Customer must have a personal NAB transaction account open in order to receive payment of the offer (this will be paid automatically). The payment will be made within 90 days of drawdown
- Excludes all NAB lines of credit, non-resident borrowers, BICOE (Constructions Loans, a home loan that lets you draw down your funds as the building project progresses and you need money to pay the builders) loans and NAB Portfolio facilities.
Can you qualify for more than one $2000 offer?
During this time an individual will only be eligible for one bonus (and not both the Refinance Bonus and the Home Buying Bonus) if the loan relates to the same property/security. However, if a customer takes out a second loan for a separate property after having already received a bonus within these dates, they will be eligible for another bonus if the eligibility criteria are met.
How and when will the $2000 be paid?
The customer is required to hold a personal NAB transaction account and continue holding it for the next 90 days post drawdown. The payment will be made automatically within the 90 days of drawdown to this personal NAB account.
If a customer does not have a transaction account, they will receive an SMS reminder (at one month and two month) to create one.
If the customer has an existing transaction account, the bonus will be credited to the account with the highest balance.
Other important information about the NAB $2000 refinance bonus offer
- The customer is required to hold a personal NAB transaction account and continue holding it for the next 90 days post drawdown. The nominated NAB transaction account must be open at the time the $2000 is to be credited to the account
- The refinanced NAB home loan is drawn down between Monday 15 April 2019 and Tuesday 31 December 2019
