Up To 250,000 Velocity Points On Unloan Home Loans

Velocity Frequent Flyer has launched a new partnership with Unloan, a digital mortgage provider backed by Commonwealth Bank, and the headline offer is substantial. For a limited time, eligible borrowers can earn up to 250,000 bonus Velocity Points when taking out a new Unloan home loan.

The bonus is tiered based on your settled loan amount:

• 50,000 points: loans up to $249,999
• 100,000 points: loans $250,000 to $499,999
• 150,000 points: loans $500,000 to $999,999
• 250,000 points: loans $1,000,000 or more

Given the size of typical mortgages, many borrowers will fall into the upper tiers, making this one of the more generous points-earning opportunities on home loans. That said, the long-running Qantas Money Home Loan promotion may offer better value over time, offering 100,000 Qantas Points per year. If you keep your loan for several years, this can quickly surpass Unloan’s one-off Velocity Points bonus, though Unloan still wins for a larger upfront points boost.

Who Is Eligible?

This offer applies to new Unloan home loans that have not previously been financed through Unloan, including both owner-occupier and investment properties. Existing Unloan customers can still qualify, but only when taking out a new loan for a different property.

There’s no cap on how many times you can earn the bonus, so multiple eligible loans across different properties can each earn Velocity Points.

Velocity Points can be used to book Qatar Business Class

How To Earn Velocity Points With Unloan

To receive your Velocity Points, you must link your membership after applying but before settlement.

1. After submitting your application, log in to your account via the Uloan App or at app.unloan.com.au.
2. Locate the Velocity tile on the homescreen.
3. Tap ‘Add Details’ then enter your Velocity number.
4. Velocity Points should be credited up to 60 days after your loan is settled.

Note that the Velocity tile is only available up until settlement for your loan. If you’re having issues, reach out to Unloan either via online chat, email or request a call back.

Don't Select Unloan Just For Points

While the Velocity Points offer is compelling, Unloan doesn’t always sit at the very bottom of the market. As of 31 March 2026, its variable rate is competitively advertised as 5.69% p.a. (5.60% comparison rate) for owner-occupiers.

Some of the sharpest rates in Australia often come from smaller lenders you might not know, like in1bank, which are currently around 5.08% to 5.50% p.a. The big four banks are higher, with the Westpac headline rate starting at 5.79% p.a.

In that context, Unloan sits somewhere between the lowest-cost challengers and the big four, meaning the Velocity Points could come at the cost of a slightly higher rate. With a choice as important as a home loan, it is best to compare the product first and take the points as a welcome sweetener.

Summing Up: My Take

A bonus of up to 250,000 Velocity Points can translate to significant value, potentially covering multiple Business Class flights or upgrades. However, with a decision as large as a home loan, the interest rate, fees, and flexibility should remain your primary focus.

If Unloan’s product stacks up on those fundamentals, the Velocity Points bonus is a strong sweetener rather than the main reason to apply.