For changing home page banner links please do the following:
1. Open the Magento admin panel
2. Go to the “CMS > Manage Pages” page
3. Select “Home Page”
4. And in the “Content” field find the html code with the banner link. The Content box contains the HTML code of the middle column of your home page. If you want to link the banner to a category, you can simply set the category name.
5. Save the changes