Bank of Melbourne Standard Variable Home Loan

The details shown below are for an owner occupier taking out a principal & interest loan of at least $10,000 with an LVR below 95%

The details shown below are for an owner occupier taking out a interest only loan of at least $10,000 with an LVR below 80%

The details shown below are for an investor taking out a principal & interest loan of at least $10,000 with an LVR below 90%

The details shown below are for an investor taking out a interest only loan of at least $10,000 with an LVR below 80%

Choose the version of loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 95%

    Loan: $10,000

  • Owner Occupier (Interest Only)

    LVR < 80%

    Loan: $10,000

  • Investor (Principal & Interest)

    LVR < 90%

    Loan: $10,000

  • Investor (Interest Only)

    LVR < 80%

    Loan: $10,000

5.34% p.a.

5.51% p.a.

$10.00 monthly

Bank of Melbourne Standard Variable Home Loan

5.34% p.a.

5.51% p.a.

$10.00 monthly

5.93% p.a.

6.09% p.a.

$10.00 monthly

Bank of Melbourne Standard Variable Home Loan

5.93% p.a.

6.09% p.a.

$10.00 monthly

5.92% p.a.

6.08% p.a.

$10.00 monthly

Bank of Melbourne Standard Variable Home Loan

5.92% p.a.

6.08% p.a.

$10.00 monthly

6.46% p.a.

6.62% p.a.

$10.00 monthly

Bank of Melbourne Standard Variable Home Loan

6.46% p.a.

6.62% p.a.

$10.00 monthly

Details

Rates and fees information correct as at 18 October 2018.

Rates
  • 5.34% p.a.

  • n/a

  • 0 Months

  • none

  • 5.51% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $600.00

  • $0.00

  • $0.00

  • $100.00

  • none

  • $10.00 monthly

  • $350.00

Other financial bits
  • $10,000

  • none

  • none

  • 95.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • yes

  • yes - fees apply

  • $0.00

  • yes

  • yes

  • none

  • 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.

Details

Rates and fees information correct as at 18 October 2018.

Rates
  • 5.93% p.a.

  • n/a

  • 0 Months

  • none

  • 6.09% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $600.00

  • $0.00

  • $0.00

  • $100.00

  • none

  • $10.00 monthly

  • $350.00

Other financial bits
  • $10,000

  • none

  • none

  • 80.00%

Features
  • Owner Occupier

  • Interest Only

  • Monthly

  • yes - free

  • yes

  • yes - fees apply

  • $0.00

  • yes

  • yes

  • none

  • 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.

Details

Rates and fees information correct as at 18 October 2018.

Rates
  • 5.92% p.a.

  • n/a

  • 0 Months

  • none

  • 6.08% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $600.00

  • $0.00

  • $0.00

  • $100.00

  • none

  • $10.00 monthly

  • $350.00

Other financial bits
  • $10,000

  • none

  • none

  • 90.00%

Features
  • Investor

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • yes

  • yes - fees apply

  • $0.00

  • yes

  • yes

  • none

  • 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.

Details

Rates and fees information correct as at 18 October 2018.

Rates
  • 6.46% p.a.

  • n/a

  • 0 Months

  • none

  • 6.62% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $600.00

  • $0.00

  • $0.00

  • $100.00

  • none

  • $10.00 monthly

  • $350.00

Other financial bits
  • $10,000

  • none

  • none

  • 80.00%

Features
  • Investor

  • Interest Only

  • Monthly

  • yes - free

  • yes

  • yes - fees apply

  • $0.00

  • yes

  • yes

  • none

  • 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.

Customer Reviews

How are Bank of Melbourne home loans rated by the Mozo community?

Overall customer rating
7.2/10
Price
7.0/10
Features
6.8/10
Customer service
7.4/10
Convenience
7.3/10
Trust
7.0/10

Latest reviews of Bank of Melbourne Standard Variable Home Loan

  • Overall
    9/10
    Great

    Great, open till 5 pm weekdays

    Great, open till 5 pm weekdays

    Price
    8/10
    Features
    9/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    9/10

    Debra | Victoria

    reviewed almost 3 years ago

  • Overall
    6/10
    Flexible home loans and great customer service

    The Bank Of Melbourne offered a home loan with less than 10% deposit so gave me a chance to get...

    The Bank Of Melbourne offered a home loan with less than 10% deposit so gave me a chance to get my foot into the property market. However the rates are on the higher end of home loans available. They also waved the first years credit card fees. Customer service is good to, answer and return calls promptly and follow up frequently.

    Price
    6/10
    Features
    6/10
    Customer service
    7/10
    Convenience
    7/10
    Trust
    7/10

    Debbie | Victoria

    reviewed almost 3 years ago

  • Overall
    9/10
    Great products and services.

    Really like the rates, they are competitive within the industry, however, what sets them apart is...

    Really like the rates, they are competitive within the industry, however, what sets them apart is the customer service they provide. In our experience they have gone above and beyond to make sure we have been taken care of the entire time we have been with them. One thing that is hard is the number of branches in the suburbs is limited and I find we have to drive a distance if we want to meet face to face.

    Price
    8/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    6/10
    Trust
    10/10

    Micah | Victoria

    reviewed almost 3 years ago

  • Overall
    10/10
    Above and beyond, always better!

    I am a single mum and the Bank of Melbourne bent over backwards to help me succeed in purchasing...

    I am a single mum and the Bank of Melbourne bent over backwards to help me succeed in purchasing my first home :)

    Price
    9/10
    Features
    9/10
    Customer service
    9/10
    Convenience
    10/10
    Trust
    10/10

    Karli | Victoria

    reviewed about 3 years ago

  • Overall
    3/10
    Worst customer service, not efficient. Delays.

    1st Lender manager mentioned an amount in pre-approval is never given to me. Before land...

    1st Lender manager mentioned an amount in pre-approval is never given to me. Before land settlement 1st lender manager left BOM and no one knows about my file and that delayed my settlement by 1 week. Land settlement done by 2nd lender manager. After land settlement again my lender manager changed. I have to resubmit all documents again to my 3rd new Lender manager . Also this time my branch changed due to lender manager is from that branch. I have to explain once again everything to 3rd lender manager. But this time 3rd lender Manager reduced my borrowing capacity by 30K. And when I submitted my house construction contract for final approval they took more than 2 weeks to give me result if it is approved or not.

    Price
    6/10
    Features
    7/10
    Customer service
    3/10
    Convenience
    3/10
    Trust
    3/10

    Abc | Victoria

    reviewed about 3 years ago

Bank of Melbourne

About Bank of Melbourne

Formerly St.George in Victoria, The Bank of Melbourne provides a banking alternative to customers with its large range of products in home, personal and business banking. Based in Victoria the Bank of Melbourne offers its customers bank accounts, credit cards, term deposits, private banking services, home loans and personal loans.

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*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.