Choose the version of this loan that suits you best
Availability | Loan type | LVR | Min loan amount | Max loan amount | |
---|---|---|---|---|---|
|
Owner Occupier | Principal & Interest | < 70% | $150,000 | |
|
Owner Occupier | Principal & Interest | 70%-80% | $150,000 | |
|
Owner Occupier | Principal & Interest | 80%-95% | $150,000 | |
|
Owner Occupier | Interest Only | < 60% | $150,000 | |
|
Owner Occupier | Interest Only | 70%-80% | $150,000 | |
|
Investor | Principal & Interest | < 70% | $150,000 | |
|
Investor | Principal & Interest | 70%-80% | $150,000 | |
|
Investor | Principal & Interest | 80%-90% | $150,000 | |
|
Investor | Interest Only | < 70% | $150,000 | |
|
Investor | Interest Only | 70%-80% | $150,000 | |
|
Investor | Interest Only | 80%-90% | $150,000 |
This packaged deal from Bank of Melbourne gives owner occupiers rates starting at 6.59% p.a. (7.65% p.a. comparison rate*) on 1-year terms, plus a number of handy features such as a redraw facility and offset account.
The Bank of Melbourne Fixed Rate Home Loan provides borrowers with a degree of flexibility that’s not all that common among fixed offerings. Rates range from 6.59% p.a. (7.65% p.a. comparison rate*), available on 1-year terms, and 6.69% p.a. (7.42% p.a. comparison rate*), available on 5-year terms.
There are different rates depending on the LVR tier you're on. The tiers are:
As for the features, you’ll be able to make repayments weekly, fortnightly or monthly, and if you want to pay down your loan faster, extra repayments are free up to $30,000. There’s also a free redraw facility, in case you decide those extra repayments would be better back in your hands, and an offset account to help you save on interest.
As part of the package deal, you’ll be able to bundle your home loan, credit card and transaction account. Fees such as establishment fee on your home loan and the annual fee on your credit card will be waived.
This loan could suit borrowers who are looking to take advantage of fixed rates and prefer to keep all their banking products in one manageable bundle.
Borrowers will have to budget for the $395 yearly service fee. While this product offers a number of helpful features, like an offset account and redraw facility, there are limits and conditions which apply.
n/a |
|
n/a |
|
n/a |
|
n/a |
|
6.59% (7.65%*) |
|
6.49% (7.55%*) |
|
6.59% (7.50%*) |
|
6.59% (7.44%*) |
|
6.69% (7.42%*) |
|
n/a |
|
n/a |
|
7.39% p.a. |
$0.00 |
|
$0.00 |
|
$0.00 |
|
$100.00 |
|
n/a |
|
$395.00 yearly |
|
$350.00 |
$150,000 |
|
none |
|
none |
|
70.00% |
Weekly, Fortnightly, Monthly |
|
yes - free up to $30,000 |
|
yes |
|
yes - free |
|
$0.00 |
|
yes |
|
yes - partial only |
|
none |
|
Fixed Rate Lock feature fee is the higher of 0.15% of loan amount or $500, capped at $1000 for loans up to $2M. Rate Lock fee is 0.15% of loan amount for loans above $2M |
|
none |
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
n/a |
|
n/a |
|
n/a |
|
n/a |
|
6.69% (7.75%*) |
|
6.59% (7.65%*) |
|
6.69% (7.60%*) |
|
6.69% (7.54%*) |
|
6.79% (7.52%*) |
|
n/a |
|
n/a |
|
7.49% p.a. |
$0.00 |
|
$0.00 |
|
$0.00 |
|
$100.00 |
|
n/a |
|
$395.00 yearly |
|
$350.00 |
$150,000 |
|
none |
|
70.00% |
|
80.00% |
Weekly, Fortnightly, Monthly |
|
yes - free up to $30,000 |
|
yes |
|
yes - free |
|
$0.00 |
|
yes |
|
yes - partial only |
|
none |
|
Fixed Rate Lock feature fee is the higher of 0.15% of loan amount or $500, capped at $1000 for loans up to $2M. Rate Lock fee is 0.15% of loan amount for loans above $2M |
|
none |
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
n/a |
|
n/a |
|
n/a |
|
n/a |
|
6.99% (8.04%*) |
|
6.89% (7.94%*) |
|
6.99% (7.89%*) |
|
6.99% (7.83%*) |
|
7.09% (7.81%*) |
|
n/a |
|
n/a |
|
7.79% p.a. |
$0.00 |
|
$0.00 |
|
$0.00 |
|
$100.00 |
|
n/a |
|
$395.00 yearly |
|
$350.00 |
$150,000 |
|
none |
|
80.00% |
|
95.00% |
Weekly, Fortnightly, Monthly |
|
yes - free up to $30,000 |
|
yes |
|
yes - free |
|
$0.00 |
|
yes |
|
yes - partial only |
|
none |
|
Fixed Rate Lock feature fee is the higher of 0.15% of loan amount or $500, capped at $1000 for loans up to $2M. Rate Lock fee is 0.15% of loan amount for loans above $2M |
|
none |
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
n/a |
|
n/a |
|
n/a |
|
n/a |
|
6.89% (8.20%*) |
|
6.79% (8.07%*) |
|
6.89% (7.99%*) |
|
6.89% (7.90%*) |
|
6.99% (7.87%*) |
|
n/a |
|
n/a |
|
7.98% p.a. |
$0.00 |
|
$0.00 |
|
$0.00 |
|
$100.00 |
|
n/a |
|
$395.00 yearly |
|
$350.00 |
$150,000 |
|
none |
|
none |
|
60.00% |
Monthly |
|
yes - free up to $30,000 |
|
yes |
|
yes - free |
|
$0.00 |
|
yes |
|
yes - partial only |
|
none |
|
Fixed Rate Lock feature fee is the higher of 0.15% of loan amount or $500, capped at $1000 for loans up to $2M. Rate Lock fee is 0.15% of loan amount for loans above $2M |
|
none |
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
n/a |
|
n/a |
|
n/a |
|
n/a |
|
6.99% (8.30%*) |
|
6.89% (8.17%*) |
|
6.99% (8.09%*) |
|
6.99% (8.00%*) |
|
7.09% (7.97%*) |
|
n/a |
|
n/a |
|
8.08% p.a. |
$0.00 |
|
$0.00 |
|
$0.00 |
|
$100.00 |
|
n/a |
|
$395.00 yearly |
|
$350.00 |
$150,000 |
|
none |
|
70.00% |
|
80.00% |
Monthly |
|
yes - free up to $30,000 |
|
yes |
|
yes - free |
|
$0.00 |
|
yes |
|
yes - partial only |
|
none |
|
Fixed Rate Lock feature fee is the higher of 0.15% of loan amount or $500, capped at $1000 for loans up to $2M. Rate Lock fee is 0.15% of loan amount for loans above $2M |
|
none |
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
n/a |
|
n/a |
|
n/a |
|
n/a |
|
6.69% (8.04%*) |
|
6.49% (7.88%*) |
|
6.69% (7.83%*) |
|
6.69% (7.73%*) |
|
6.79% (7.70%*) |
|
n/a |
|
n/a |
|
7.82% p.a. |
$0.00 |
|
$0.00 |
|
$0.00 |
|
$100.00 |
|
n/a |
|
$395.00 yearly |
|
$350.00 |
$150,000 |
|
none |
|
none |
|
70.00% |
Weekly, Fortnightly, Monthly |
|
yes - free up to $30,000 |
|
yes |
|
yes - free |
|
$0.00 |
|
yes |
|
yes - partial only |
|
none |
|
Fixed Rate Lock feature fee is the higher of 0.15% of loan amount or $500, capped at $1000 for loans up to $2M. Rate Lock fee is 0.15% of loan amount for loans above $2M |
|
none |
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
n/a |
|
n/a |
|
n/a |
|
n/a |
|
6.79% (8.14%*) |
|
6.59% (7.98%*) |
|
6.79% (7.92%*) |
|
6.79% (7.83%*) |
|
6.89% (7.79%*) |
|
n/a |
|
n/a |
|
7.92% p.a. |
$0.00 |
|
$0.00 |
|
$0.00 |
|
$100.00 |
|
n/a |
|
$395.00 yearly |
|
$350.00 |
$150,000 |
|
none |
|
70.00% |
|
80.00% |
Weekly, Fortnightly, Monthly |
|
yes - free up to $30,000 |
|
yes |
|
yes - free |
|
$0.00 |
|
yes |
|
yes - partial only |
|
none |
|
Fixed Rate Lock feature fee is the higher of 0.15% of loan amount or $500, capped at $1000 for loans up to $2M. Rate Lock fee is 0.15% of loan amount for loans above $2M |
|
none |
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
n/a |
|
n/a |
|
n/a |
|
n/a |
|
7.09% (8.43%*) |
|
6.89% (8.28%*) |
|
7.09% (8.22%*) |
|
7.09% (8.12%*) |
|
7.19% (8.08%*) |
|
n/a |
|
n/a |
|
8.22% p.a. |
$0.00 |
|
$0.00 |
|
$0.00 |
|
$100.00 |
|
n/a |
|
$395.00 yearly |
|
$350.00 |
$150,000 |
|
none |
|
80.00% |
|
90.00% |
Weekly, Fortnightly, Monthly |
|
yes - free up to $30,000 |
|
yes |
|
yes - free |
|
$0.00 |
|
yes |
|
yes - partial only |
|
none |
|
Fixed Rate Lock feature fee is the higher of 0.15% of loan amount or $500, capped at $1000 for loans up to $2M. Rate Lock fee is 0.15% of loan amount for loans above $2M |
|
none |
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
n/a |
|
n/a |
|
n/a |
|
n/a |
|
6.79% (8.30%*) |
|
6.54% (8.12%*) |
|
6.79% (8.05%*) |
|
6.79% (7.94%*) |
|
6.89% (7.89%*) |
|
n/a |
|
n/a |
|
8.11% p.a. |
$0.00 |
|
$0.00 |
|
$0.00 |
|
$100.00 |
|
n/a |
|
$395.00 yearly |
|
$350.00 |
$150,000 |
|
none |
|
none |
|
70.00% |
Monthly |
|
yes - free up to $30,000 |
|
yes |
|
yes - free |
|
$0.00 |
|
yes |
|
yes - partial only |
|
none |
|
Fixed Rate Lock feature fee is the higher of 0.15% of loan amount or $500, capped at $1000 for loans up to $2M. Rate Lock fee is 0.15% of loan amount for loans above $2M |
|
none |
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
n/a |
|
n/a |
|
n/a |
|
n/a |
|
6.89% (8.40%*) |
|
6.64% (8.22%*) |
|
6.89% (8.15%*) |
|
6.89% (8.04%*) |
|
6.99% (7.99%*) |
|
n/a |
|
n/a |
|
8.21% p.a. |
$0.00 |
|
$0.00 |
|
$0.00 |
|
$100.00 |
|
n/a |
|
$395.00 yearly |
|
$350.00 |
$150,000 |
|
none |
|
70.00% |
|
80.00% |
Monthly |
|
yes - free up to $30,000 |
|
yes |
|
yes - free |
|
$0.00 |
|
yes |
|
yes - partial only |
|
none |
|
Fixed Rate Lock feature fee is the higher of 0.15% of loan amount or $500, capped at $1000 for loans up to $2M. Rate Lock fee is 0.15% of loan amount for loans above $2M |
|
none |
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
n/a |
|
n/a |
|
n/a |
|
n/a |
|
7.19% (8.69%*) |
|
6.94% (8.51%*) |
|
7.19% (8.44%*) |
|
7.19% (8.33%*) |
|
7.29% (8.28%*) |
|
n/a |
|
n/a |
|
8.51% p.a. |
$0.00 |
|
$0.00 |
|
$0.00 |
|
$100.00 |
|
n/a |
|
$395.00 yearly |
|
$350.00 |
$150,000 |
|
none |
|
80.00% |
|
90.00% |
Monthly |
|
yes - free up to $30,000 |
|
yes |
|
yes - free |
|
$0.00 |
|
yes |
|
yes - partial only |
|
none |
|
Fixed Rate Lock feature fee is the higher of 0.15% of loan amount or $500, capped at $1000 for loans up to $2M. Rate Lock fee is 0.15% of loan amount for loans above $2M |
|
none |
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
When mortgage rates went up we contacted the bank to explore details. The person who guided us through was amazing. She was able to answer lots of questions, see our mortgage and make suggestions to save money, help us consolidate some debts, and negotiated a good interest rate. We can redraw without penalty, and i feel confident that if i needed to refinance again, that StGeorge/Bank Of Melbourne would see me through each step. High praise from a customer experience expert like me!
Read full reviewWhen mortgage rates went up we contacted the bank to explore details. The person who guided us through was amazing. She was able to answer lots of questions, see our mortgage and make suggestions to save money, help us consolidate some debts, and negotiated a good interest rate. We can redraw without penalty, and i feel confident that if i needed to refinance again, that StGeorge/Bank Of Melbourne would see me through each step. High praise from a customer experience expert like me!
Great service and always willing to help us out, negotiate a better fee or whats on offer. Cant complain about anything and we have come from a long CommBank history so were initially apprehensive about changing.
Read full reviewGreat service and always willing to help us out, negotiate a better fee or whats on offer. Cant complain about anything and we have come from a long CommBank history so were initially apprehensive about changing.
They care for their customers, a more personalised bank like the were big4 in the 1980/90s. They have a can do approach, easy to get through to & always willing to assist. Being ex bankers (both me & husband of 2 major banks). We found that’s operations have changed dramatically since our days, staff are only knowledgeable in their field without understanding all the background leading to it, whereas in our days (we’re only in our 50s) we started at the bottom of the banking chain, through ledgers, telling, processing, personal bankers & then moved up to senior positions having all the background knowledge. Having closed a business in 2015 we were left with home loan & business loan which our bank could not refinance (ANZ) nor could the others of the big 4. The refinance with BOM was straight forward & have never looked back, their service is still outstanding 5 years on Have since encouraged two of our sons to approach BOM for their first home loan, even though it’s not their bank, they did & were very content with the service, they are now loyal customers, our 3rd son will do same next year without a second thought.
Read full reviewThey care for their customers, a more personalised bank like the were big4 in the 1980/90s. They have a can do approach, easy to get through to & always willing to assist. Being ex bankers (both me & husband of 2 major banks). We found that’s operations have changed dramatically since our days, staff are only knowledgeable in their field without understanding all the background leading to it, whereas in our days (we’re only in our 50s) we started at the bottom of the banking chain, through ledgers, telling, processing, personal bankers & then moved up to senior positions having all the background knowledge. Having closed a business in 2015 we were left with home loan & business loan which our bank could not refinance (ANZ) nor could the others of the big 4. The refinance with BOM was straight forward & have never looked back, their service is still outstanding 5 years on Have since encouraged two of our sons to approach BOM for their first home loan, even though it’s not their bank, they did & were very content with the service, they are now loyal customers, our 3rd son will do same next year without a second thought.
We had multiple applications and Bank Of Melbourne came through with the fastest approval and the best rate.
Read full reviewWe had multiple applications and Bank Of Melbourne came through with the fastest approval and the best rate.
Wont let us get out of a fixed term loan.
Read full reviewWont let us get out of a fixed term loan.
Home Value Loan
6.09% p.a. variable
6.09% p.a.
Fixed Rate
6.59% p.a.
fixed 3 years
7.06% p.a.
Mortgage Simplifier
6.14% p.a. variable
6.17% p.a.
Flex Home Loan
6.24% p.a. variable
6.48% p.a.
Elevate
6.09% p.a. variable
6.20% p.a.
SMSF Home Loan (Variable)
6.99% p.a. variable
7.00% p.a.
Fixed Rate Loan (with Orange Advantage)
5.99% p.a.
fixed 3 years
6.12% p.a.
Elevate
6.09% p.a.
6.20% p.a.
Mortgage Simplifier
6.14% p.a.
6.17% p.a.
Flex Home Loan Fixed
5.99% p.a.
fixed 3 years
6.41% p.a.
Fixed Rate Loan (with Orange Advantage)
5.99% p.a.
fixed 3 years
6.12% p.a.
Fixed Rate
6.59% p.a.
fixed 3 years
7.06% p.a.
Flex Home Loan Fixed
5.99% p.a.
fixed 3 years
6.41% p.a.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.