JPMorgan Chase, the largest US bank
by market capitalisation, has introduced an innovative mortgage
cash-back programme offering customers the chance to recoup a
portion of their annual home loan payments either in the form of a
cash rebate or a reduction on loan payments.

The programme, which applies to customers with
a Chase mortgage who arrange for monthly payments to be deducted
from their Chase current account, will return 1 percent of
customers’ scheduled monthly principal and interest mortgage
payments.

The offer will be rolled out under the Chase
Exclusives brand, which also offers eligible customers a series of
rewards programmes and other loan discounts.

“Chase Exclusives make a Chase checking
account a smart choice for consumers because we provide special
offers on mortgage, credit cards, savings accounts and debit
cards,” said Michael Cleary, chief marketing officer for Chase
retail banking.

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By GlobalData