BankVic Refinance Cashback | Apply here for $3,000

What is BankVic Refinance Cashback?

BankVic's refinance cashback is a financial incentive offered to borrowers who switch their existing home loan to BankVic. The bank provides a lump sum payment to eligible customers who meet specific conditions, such as a minimum loan amount and property type. BankVic currently has two refinance cashback offers: one for $3,000 and one for $2,000. This cash is credited to your account after settlement, and you can save it or spend it how you like, with no strings attached.

How to Qualify for BankVic Refinance Cashback?

Here are the eligibility criteria for BankVic $3,000 refinance cashback offer:

• Maximum LVR of 80%
• Minimum loan amount of $350,000
• You must be switching from a lender other than BankVic
• You must be a police member or emergency worker
• You must not have received a cashback from BankVic for this property in the past

Here are the eligibility criteria for BankVic $2,000 refinance cashback offer:

• Maximum LVR of 80%
• Minimum loan amount of $200,000
• You must be switching from a lender other than BankVic
• You must be an eligible healthcare worker
• You must not have received a cashback from BankVic for this property in the past
  

How to Apply for BankVic Refinance Cashback

Refinancing your home loan to BankVic and claiming the cashback offer involves several key steps. To ensure a smooth process, follow these steps carefully:

1. Check Eligibility Requirements – Review BankVic's current refinance cashback offer to ensure you meet the criteria, such as the minimum loan amount, and loan-to-value ratio (LVR) requirements.
2. Compare Loan Options – Assess BankVic's home loan products to determine the best fit for your financial situation, considering factors like interest rates, loan features (e.g., offset accounts, redraw facilities), and repayment flexibility.
3. Consult a Mortgage Broker – Working with a mortgage broker like Eden Emerald Mortgages can simplify the process by providing expert advice, handling paperwork, and negotiating the best loan terms on your behalf. They can also see if there are better cashback refinancing offers available.
4. Gather Required Documents – Prepare necessary documents, including proof of income (payslips, tax returns), existing loan statements, credit history, and property details, to streamline the application process.
5. Submit the Application to BankVic – Complete and submit your refinance application. Ensure all details are accurate to avoid delays. 
6. Property Valuation and Credit Assessment – BankVic will conduct a property valuation and assess your financial position to determine loan approval and cashback eligibility.
7. Receive Loan Approval and Settlement – Once approved, BankVic will provide loan documents for signing, and your existing loan will be paid out, officially transferring your mortgage to BankVic.
8. Cashback Payment Process – After settlement, BankVic will credit the $3,000 cashback amount to your nominated account within 8 weeks.

Following these steps and working with a broker like Eden Emerald Mortgages ensures a smooth transition, as we handle the paperwork and liaise with the new lender and your existing lender. The best part is that using the services of EE Mortgages is 100% free for you, (we are paid compensation by the lender, not the borrower).

To speak to us, simply fill out the form here to get in touch.

Conclusion

BankVic's refinance cashback offer can be an attractive option for homeowners looking to switch lenders and reduce mortgage expenses. While the $3,000 cashback provides short-term financial relief, borrowers must carefully consider the long-term benefits and costs of refinancing. Consulting with a mortgage broker like EE Mortgages can help you decide whether BankVic is the right lender for you, and to guide you through the entire refinancing process.