Cashback vs one of the lowest rate loans - how they stack up on a $600k mortgage

Based on an owner-occupier with 25 years remaining

Note: calculations are estimates for illustrative purposes only. Amounts will vary depending on a borrower’s personal circumstances and future changes to mortgage rates. Rates listed above are the lowest advertised home loan rates for owner occupiers paying principal and interest that qualify for the cashback offer. Lowest variable rate is based on the average of the lowest five variable rates for owner-occupiers, excludes introductory rates and green loans, assuming a $500 upfront fee. Excludes ongoing fees, but includes switch fees. Assumes variable mortgage rates change inline with CBA’s current cash rate forecast Police Bank rate is for current and retired employees of an Australian Police Force or Police organisation, uniformed or civilian.
Source: Canstar.com.au