The Virgin Money Reward Me Home Loan
An awesome option for homebuyers who want to take their rewards points earning to the next level, the Reward Me Home Loan from Virgin Money is currently offering double Velocity Points on settlement, plus the chance to win 1 million Velocity Points on application.
The Reward Me Home Loan offers you the chance to supercharge your points balance, giving you Velocity points on settlement, on each three year anniversary, and at monthly intervals. On top of that, you have the opportunity to save money and earn further rewards on other Virgin products, while taking advantage of competitive interest rates and no application fees on your home loan.
- Receive double Velocity Points on settlement
- Enter to win 1 million Velocity Points
- Competitive interest rates
- Choice of fixed rate or variable rate
- Interest rates based on loan amount & loan-to-value ratio
- Enjoy 10% discount on Virgin Australia domestic flights
- Earn further Velocity Points on bundled Virgin Money products
- To be eligible for double Velocity Points on settlement, apply by 30 November 2018 and settle by 28 February 2019.
- Interest rates from 3.64% p.a. (3.78% p.a. comparison rate)
- Application Fee: $0
- Settlement Fee: $150
- Home Loan Fee: $10 per month
- Other fees and charges may apply (see Virgin Money’s Lending and Deposits Guide to Fees and Charges on this loan for more).
Double Velocity Points Offer
Perhaps one of the most appealing features on the Reward Me Home Loan is its potential to provide Velocity Points to homeowners, simply for paying down their home loan. After all, if you have a home loan, you have to make home loan repayments. So why not get rewarded for them?
If you take out a Reward Me Home Loan, you can earn Velocity Points at three main levels. You can earn points on settlement, you earn points monthly, and you will receive points every three years you are a continuous Reward Me Home Loan customer, when your loan balance remains above $50,000.
However, you can boost your points earning to receive DOUBLE Velocity Points on settlement, if you apply by 30 November 2018, and settle by 28 February 2019. So, instead of receiving 1,000 Velocity Points for every full $10,000 drawn at settlement, you will receive 2,000 Velocity Points.
As an example, if you take out a home loan of $500,000, you would receive 100,000 Velocity Points at settlement alone. All you need to do is apply, be approved and settle by the due dates on the offer, and your Velocity account will be credited up to 60 days after settlement with those 100,000 points. Bear in mind the number of points you receive will depend on your loan amount.
1 Million Velocity Points Competition
If you like the sound of having 100,000 Velocity Points in your account, you’re sure to be tempted by 1 million. This offer is pretty simple. All you need to do is apply for the Reward Me Home Loan by 31 October 2018, and you'll go into the draw to win 1 million Velocity Points. Be sure to provide your Velocity Membership number by 23 November 2018. T&Cs apply.
Velocity: The Basics
One of Australia’s most popular frequent flyer programs, the Velocity Frequent Flyer program allows members to earn Velocity points on travel purchases and everyday spending on their Velocity-linked credit card, or through other Virgin products, such as the Reward Me Home Loan.
Members can then redeem the points they earn as they choose. That could mean using their points on travel, for flights, flight upgrades or hotel stays, or alternatively, using their points to buy merchandise or gift cards from the Velocity Rewards Store, or fuel at BP.
There are four levels of Velocity membership, with each level determining the types of benefits members receive when they travel. To progress from entry-level membership to Silver, Gold and Platinum membership, members must earn Status Credits.
Status Credits can be earned when flying with Virgin Australia and its partners, and when shopping using Velocity flybuys-linked credit cards at Coles, Coles Online, Liquorland or First Choice Liquor.
As a Platinum or Gold member, you will receive benefits that include airport lounge access, Priority Check-in, Priority Boarding and additional baggage allowance. You can also take advantage of complimentary membership to premium tiers of Virgin’s car hire and accommodation partners.
Allowing you to earn points fasters, as a Platinum, Gold or Silver member, you will earn a Velocity Points bonus when you fly on eligible fares with Virgin Australia, Etihad Airways and Delta Air Lines, plus when you book with selected Velocity accommodation, car hire, insurance and travel partners.