Note: On some rebounders the noise is not coming from the springs but from the resonance from the rebounder. Some rebounders are lightweight. Just 5 extra pounds of steel can make a rebounder resonate less. The Cellerciser is the heaviest metal rebounder at 39 pounds, the Reboundair is about 33 pounds.
The right way to oil a rebounder takes 2 people if you want to keep it from squeaking. The trick is to have someone sit on the rebounder near the spring you are going to oil. Once you put the oil on it have the person just bounce up and down. Do NOT do all the springs at once as the oil will drip and won't go into the underside of the spring hook into the frame. This take a little bit longer. Well, actually, about 15 minutes to do this. Most people just put a drop of oil on each side of the spring and takes about 1 to 2 minutes. This is not the right way to oil the spring. And most people use WD-40. I do not recommend this. There is only one oil that I have found to really work if you don't want to be constantly oiling the rebounder.
If you don't have a friend you can use a screw driver to lift each spring up just high enough to let the oil drip under the spring hook. Again, do not use WD-40, this is what most people have around their house and I do not recommend this.
Note: put a towel down under the rebounder when you oil it. Or even a cardboard box. The manufacturers will not replace your carpet when you find out the next day there are 36 dark marks on your white carpet.
This is not the oil to use on a rebounder.
A good rebounder needs to be oiled just twice a year to keep the springs from squeaking. With some oils you need to apply several coats to keep the friction away that causes the sound. With a high quality oil, you only need one coat.
Compare the top Lymphatic Rebounders
New Zealand Lymphaciser VS CELLERCISER VS JUMPSPORT