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Lender Cashback Offer - Terms and Conditions

  1. This Lender Cashback Offer (“Offer”) is provided by Greater Bank, part of Newcastle Greater Mutual Group Ltd ACN 087 651 992 of 307 King Street Newcastle NSW 2300 (“Greater Bank”).
  2. This Offer commences 8 November 2023 and closes 31 December 2023 (“Offer Period”).
  3. The Offer is open only to Australian residents aged 18 years and over who satisfy the criteria in clauses 4 and 5, and otherwise meet these terms and conditions (“Eligible Borrower”).
  4. Under the Offer, where an application for an Eligible Loan (defined in clause 5) is received by Greater Bank, approved during the Offer Period and the loan is funded by 31 March 2024, depending on the loan amount, either one of the following payment amounts (“Cashback Payment”) will be paid to the Eligible Borrower(s), subject to these terms and conditions:
    • a payment of $2,000, for loans of $250,000 to $499,999; or
    • a payment of $3,000 for loans of $500,000 or more.
  5.  To be considered an Eligible Loan, all the following criteria must be met (“Eligible Loan”):
    • The loan is a Greater Bank branded loan. For clarity, this does not include Newcastle Permanent (also part of Newcastle Greater Mutual Group Ltd) branded loans;
    • The loan is refinancing a residentially secured home loan from another financial institution (excluding Newcastle Permanent);
    • The loan has a Loan to Value Ratio (“LVR”) less
      than or equal to 80%; and
    • For a:
      • a. $2,000 Cashback Payment, the loan results in new borrowings with Greater Bank (excluding Newcastle Permanent) of $250,000 or more; or
      • b. $3,000 Cashback Payment, the loan results in new borrowings with Greater Bank (excluding Newcastle Permanent) of $500,000 or more.
  6. Where there are joint borrowers, only one Cashback Payment will be paid per Eligible Loan irrespective of the number of joint borrowers.
  7. A borrower is eligible for a Cashback Payment only once during the Offer Period. Once an Eligible Loan application is received no further loans which include that borrower, jointly or individually, will be eligible for a Cashback Payment.
  8. The Cashback Payment will be deposited to a Greater Bank deposit account within 60 days after settlement date. The borrower(s) must hold an open Greater Bank deposit account in the same name(s) as the Eligible Loan as at the time of payment to be eligible to receive the Cashback Payment.
  9. A deposit account does not include a term deposit or loan product. If you have multiple Greater Bank accounts, Greater Bank will determine which account will receive the Cashback Payment. The borrower(s) cannot nominate an account.
  10. The borrower(s) home loan application in conjunction with this Offer will be subject to Greater Bank’s usual credit assessment and approval processes.
  11. Any person who participates in the Offer acknowledges it is made subject to these terms and conditions and will be deemed to have accepted these terms and conditions.
  12. Fees and charges apply to home loans taken out under this Offer. Refer to the Lending fees and charges brochure or your loan agreement for details.
  13. The borrower(s) cannot transfer or assign their right to the Offer to any other person.
  14. Loans that receive a Cashback Payment areineligible for any other Greater Bank and Newcastle Permanent branded promotional payments.
  15. Greater Bank accepts no responsibility for any tax implications that may arise from the Cashback Payment. The borrower(s) should seek their own independent advice in this regard.
  16. Participation in the Offer is deemed acceptance of these terms.
  17. These terms and conditions do not form part of your loan agreement.
  18. Greater Bank reserves the right to, at any time, withdraw or extend the Offer or otherwise vary these terms and conditions

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