How it all works
PayRewards adds 0.30% p.a. to your interest rate while your participation in the PayRewards Program remains active. In return, you could earn 25,000 points a year for every $100,000 balance on your loan. Change your mind? Switch it off in RedZed Connect, call or email us. The 0.30% comes off, and any points already credited to your nominated PayRewards account stay there. Those points remain governed by pay.com.au's terms and conditions.
Eligibility and Costs
Eligibility: To be eligible for the program, you must: have a current pay.com.au membership; have or apply for RedZed home loan or commercial loan, loan must not be in default or have applied for hardship. Commercial SMSF loans and RedZed Specialist Solutions loans are not eligible. Cost: An additional 0.30% p.a. to your interest rate while your participation in the PayRewards Program remains active.
How many PayRewards Points could you earn?
Calculate the net rewards you can earn on your loan balance, every year.
Your loan
You could earn
+200,000
PayRewards Points a year
PayRewards is an optional add-on, that adds 0.30% p.a. on top of your rate.
Assumptions and disclaimer
Earned points displayed is the maximum number earned on that balance.
As your loan balance decreases the number of points earnt will decrease in line.
PayRewards is an option add-on that adds 0.30%p.a to your interest rate and increases your repayments.
Already with RedZed?
Put your loan to work earning points.
- Log in.
If you’re already a pay.com.au member, head to RedZed Connect to sign up for the PayRewards Program.
- Switch it on.
Complete the short online application. We’ll assess it and if approved we will send you new terms. If you agree, 0.30%p.a is added to your interest rate and your eligible loan can start earning points.
- Earn on your loan balance.
Points are calculated daily on your eligible loan balance and credited to your pay.com.au account monthly.
New to RedZed?
A new home loan or non-SMSF commercial loan? Let’s get points into the picture.
1. Have a chat.
Speak to your broker or the RedZed team about an eligible home or commercial loan with the PayRewards Program.
2. Add the points.
Download the PayRewards application form, sign and return it with your loan application and we’ll assess it together.
3. Earn every month.
If approved, once your loan settles and the Program is activated, points are calculated daily on your eligible loan balance and credited to your pay.com.au account monthly.
So, what’s PayRewards?
It’s the rewards program from pay.com.au, where businesses earn points paying suppliers, bills, even the ATO. Now eligible RedZed loans can earn them too. You’ll need a free pay.com.au account. Already have one? Come and talk to us.
Fly somewhere that isn’t a site visit.
Transfer your points to Qantas, Virgin Australian Business Flyer, Singapore Airlines KrisFlhyer, Emirates Skywards and more. Economy, business or first. You’ve earned the legroom.
Check in. Actually switch off.
Turn points into stays with Accor Live Limitless, IHG One Rewards, Marriott Bonvoy and Hilton Honors. Leave the laptop in the bag. Or don’t. It’s your holiday.
Something for you. For a change.
Swap points for a digital prepaid Mastercard or gift cards from 100+ brands, including JB Hi-Fi, Coles, Amazon and, yes, Bunnings.
And much, much more.
Wine from Australian estates. Electronics. Experiences. Thank the team or treat a client. Got something else in mind? Ask the pay.com.au team.
Frequently Asked Questions
While your participation is active, RedZed calculates your Rewards Amount each day using your unpaid daily loan balance.
The Rewards Amount is calculated as:
Unpaid daily loan balance × 0.25% ÷ 365
RedZed pays the applicable Rewards Amount to pay.com.au for the purpose of issuing PayRewards points to your nominated PayRewards account.
Yes. PayRewards can be selected separately for eligible loans or loan splits, so you may be able to participate on some eligible loans or splits and not others.
Yes, but if you're still applying for your loan, let your broker or RedZed know as soon as possible.
Changing your PayRewards selection during the application process may affect your interest rate, repayments, assessment, approval or loan documents.
Yes. You can cancel your participation in the PayRewards Program at any time through RedZed Connect or by contacting RedZed. Once your participation ends, the additional 0.30% p.a. will be removed from your interest rate and you will stop earning new PayRewards points on your eligible loan balance.
Any points already credited to your nominated PayRewards account will remain in that account and continue to be governed by pay.com.au's terms and conditions.
For questions about your RedZed loan or PayRewards registration, contact your broker or RedZed.
For questions about your pay.com.au membership or rewards account, contact pay.com.au through its usual support channels.