Which lenders have the best refinancing deals in Australia?

The strongest refinancing deals in Australia typically come from Macquarie, ING, UBank, ANZ Plus and Bank Australia, offering low rates and minimal fees. Westpac Group, ANZ and CBA regularly offer cashback refinance promotions for eligible customers.

Which lenders offer the biggest refinance cashback offers?

Westpac, St.George, BankSA and Bank of Melbourne frequently offer large cashback incentives for refinancers, often ranging from $2,000 to $4,000. ANZ and CBA run periodic cashback campaigns depending on borrower profile and loan size.

How much can you save by refinancing in 2025?

Borrowers may save between $1,800 and $6,500 per year depending on rate reductions, cashback offers and fee differences. Savings depend on loan size, location, lender pricing and borrower profile.

How does Matcheroo AI find the best refinance deal?

Matcheroo AI compares refinance rates, cashback offers, fees, LMI impacts, approval speed, borrowing power and property location to identify the lender offering the lowest total cost and the highest savings for each borrower.

Best Refinancing Deals in 2025: Compare Rates & Cashback Offers (Australia)

With interest rates stabilising and major banks competing more aggressively, 2025 is shaping up to be one of the strongest years for refinance opportunities across Australia. Borrowers in Sydney, Melbourne, Brisbane, Perth and Adelaide are switching lenders to lock in better rates, reduce repayments, consolidate debt or access cashback incentives.

This guide compares the best refinancing deals in Australia, including rate specials, cashback offers and which lenders are giving borrowers the highest savings. Matcheroo AI then identifies the lender that offers the best refinance deal for your exact profile, suburb and income.

Best Refinance Rates in Australia (2025 Snapshot)

These reflect the most competitive trends across major cities and regional markets.

Macquarie Bank — Typically Among the Lowest Rates

Ultra-competitive variable and fixed rates
No monthly fees
Very low upfront costs
Fast settlement (great for urgent refinances)

ING — Strong for Low-Fee Refinances

Low ongoing fees
Competitive variable rates
Great for simple PAYG borrowers
Very popular across Melbourne & Brisbane

UBank — Sharp Digital Rates

Some of the lowest digital-only rates
Simple criteria, fast approvals
Best for refinancers with clean credit

ANZ Plus — Digital Refinance Leader

Strong pricing
Fast documentation collection
Great for NSW & VIC borrowers wanting smooth processing

Bank Australia — Low-Fee Ethical Option

Transparent pricing
Low fees
Popular among Victorian refinancers

Best Cashback Refinance Offers (2025)

Cashbacks change frequently — Matcheroo AI always checks live offers — but these trends remain true:

Westpac / St.George / BankSA / Bank of Melbourne

$2,000–$4,000 cashbacks (for eligible refinances)
Strong for NSW & VIC borrowers
Often the most generous among the Big 4

ANZ

Periodic cashback campaigns
Good for borrowers with stable profiles

Commonwealth Bank (CBA)

Targeted cashback offers
Very strong for high-confidence approvals

Non-Banks (Pepper, Bluestone, La Trobe)

Sometimes offer cashback-equivalent fee waivers rather than direct cash

Note: Cashback offers come and go frequently, so borrowers should compare total savings, not just the upfront incentive.

Who Should Consider Refinancing in 2025?

✔ Borrowers who fixed at high rates in 2023–2024

✔ Anyone with a variable rate above current market pricing

✔ Borrowers wanting to consolidate debts

✔ Households needing lower repayments

✔ Investors wanting sharper rates across portfolios

✔ Self-employed borrowers who recently improved financials

Across Sydney, Melbourne and Brisbane, thousands of homeowners are exiting old “loyalty penalty” rates and saving $200–$500+ per month.

How Much Can You Save by Refinancing?

Savings depend on the lender, rate, LVR and fee structure — but common outcomes include:

$1,800–$6,500 per year saved on interest
$2,000–$4,000 cashback bonuses
Lower fees and lower LMI exposure
Faster approval + better loan structure
Debt consolidation reducing repayments significantly

Refinancing is one of the easiest ways to improve financial position quickly.

How Matcheroo AI Finds the Best Refinancing Deals

Matcheroo AI analyses:

Your current lender rate
Borrowing capacity changes
Fees vs cashback trade-offs
State-based pricing variations
LMI implications
Loan purpose (refinance vs cash-out)
Property type + suburb
Self-employed vs PAYG impact

Then it identifies the lender with:

🟩 The lowest refinance rate

🟩 The best cashback offer

🟩 The lowest total fees

🟩 The fastest approval pathway

🟩 The highest 12-month savings

Borrowers regularly save thousands by selecting the correct refinance lender.

Summary — Best Refinancing Deals in Australia (2025)

🥇 Macquarie — Lowest overall fees + strong rates

🥈 ING — Best low-fee refinance lender

🥉 UBank — Sharpest digital-only rates

⭐ ANZ Plus — Best digital refinance experience

⭐ Westpac Group — Best cashback offers

⭐ CBA — Best for complex borrowers

Matcheroo AI ensures borrowers nationwide — from Sydney’s Eastern Suburbs to Melbourne’s Inner North, Brisbane’s bayside, Perth’s west coast and regional Australia — always find the best refinance rate and cashback offer available.

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