Banks offer $1000 cash back as competition for loans heats up

Bank of Melbourne, St George and BankSA customers can cash in on a new offer of $1000 designed to deepen loyalty ties. 

The offer extends to broker clients who sell their home and then return to the bank for a new loan within six months, before January 1, 2015. 

The client will receive $1000 cash back for returning to the bank, but to qualify for the bonus the customer must have a transactional account and must direct debit their payments from the account. 

A representative from St George Bank told The Adviser the cash bonus was designed to boost customer loyalty. 

“There is a lot of competition from other lenders to attract new customers and we’re committed to removing any reason our customers may have for moving their business,” they said. 

“We want to encourage customers to continue to bank with us. We’ve always been focused on making sure we have some of the best home loan offers available and are giving the best service to our customers.”


News & Resources