IMB Bank has ample experience in helping Australians realise their property dreams with its extensive range of home loan products from variable and fixed to package and line of credit home loans.
IMB has been providing banking services to Australians for more than 135 years and continues to grow its branch network throughout Sydney, ACT and Melbourne and boasts over 3,000 ATMs. It also has a network of mobile lending specialists who will come to you and help you with the home loan application process.
On this page, you’ll find a rundown on IMB’s home loan offerings as well as some helpful tips on what features you should consider when choosing an IMB home loan.
Rates and fees verified as correct at 19 August, 2017. Other information correct at the time of writing.
The Fixed Home Loan from IMB is a wise choice for any owner occupiers and investors who budget around how much their loan repayments will be each month. The fixed rate is available on loans starting from $10,000 and borrowers are allowed to make up to 12 months of repayments in advance free of charge with the opportunity to redraw these extra funds via internet and mobile banking at a later date. The term of the loan also varies depending on whether you’re an owner occupier or investor, for instance if you’re an owner occupier you can secure a fixed rate for a period of 1 year up to 5 years, while investors have to choose between 1, 3, or 5 year terms. There is a monthly service fee to consider.
| Product | Fixed 3 year rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 4.49% p.a. | 5.35% p.a. | $6.00 monthly | $769 | ||
| 3.99% p.a. | 4.81% p.a. | $6.00 monthly | $769 | ||
| 4.54% p.a. | 4.95% p.a. | $6.00 monthly | $769 |
IMB has an an extensive selection of variable home loans on offer from which you can choose depending on how much you need to borrow. For instance, IMB’s Accelerator Home Loan is available on loans from $75,000 while the Standard Variable Home Loan is for loans of $10,000 or more. IMB’s variable home loans are fitted with very flexible repayment terms including additional repayment flexibility, free internet and mobile banking redraws and most have a choice between weekly, monthly and fortnightly repayments. Some variable loan options including the Accelerator, Essentials and Standard Variable even have a 100% offset account to help to save interest over the term of your loan.
| Product | Rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 3.84% p.a.variable for 24 months and then 4.69% p.a. | 4.59% p.a. | $0.00 | $769 | ||
| 3.97% p.a. | 4.02% p.a. | $0.00 | $769 | ||
| 4.39% p.a. | 4.44% p.a. | $0.00 | $769 | ||
| 3.79% p.a. | 3.84% p.a. | $0.00 | $769 | ||
| 4.68% p.a. | 4.73% p.a. | $0.00 | $769 | ||
| 4.19% p.a. | 4.19% p.a. | $0.00 | $0 | ||
| 4.41% p.a. | 4.43% p.a. | $0.00 | $324 | ||
| 4.19% p.a.variable for 12 months and then 4.94% p.a. | 5.03% p.a. | $10.00 monthly | $769 | ||
| 5.76% p.a. | 5.81% p.a. | $0.00 | $769 | ||
| 5.19% p.a. | 5.24% p.a. | $0.00 | $769 |
For loans over $150,000, consider the IMB fixed rate Platinum Home Loan Package. Although there is an annual fee to consider, if you have an Everyday Unlimited transaction account or a Platinum or Rewards MasterCard with IMB, fees will be waived on those. The package also includes a range of features to help you pay off your loan in a way that suits your budget and lifestyle, including unlimited free extra repayments, a free redraw facility with a minimum of $500 and the option to split your loan between fixed and variable rates.
| Product | Fixed 3 year rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 4.39% p.a. | 5.17% p.a. | $395.00 yearly | $324 | ||
| 3.89% p.a. | 4.88% p.a. | $395.00 yearly | $324 | ||
| 4.39% p.a. | 5.01% p.a. | $395.00 yearly | $324 |
For a little extra flexibility of loans over $150,000, why not check out the variable rate Platinum Home Loan Package from IMB. Like the fixed rate alternative, there is an annual fee, but in return, fees on your Platinum or Rewards MasterCard or your Everyday Unlimited transaction account will be waived. The variable rate package offers all the same great features that the fixed rate does, with the added bonus of an offset account to help you save on your home loan. You can choose to make payments in weekly, fortnightly or monthly installments.
| Product | Rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 4.91% p.a. | 5.31% p.a. | $395.00 yearly | $324 | ||
| 4.79% p.a. | 5.19% p.a. | $395.00 yearly | $324 | ||
| 4.69% p.a. | 5.09% p.a. | $395.00 yearly | $324 | ||
| 4.54% p.a. | 4.94% p.a. | $395.00 yearly | $324 | ||
| 4.44% p.a. | 4.85% p.a. | $395.00 yearly | $324 | ||
| 4.69% p.a. | 5.09% p.a. | $395.00 yearly | $324 |
The IMB Equity Line Advantage is available on loans starting from $20,000 (up to $1,000,000) and allows you to borrow up to 90% of the property value. The Equity Line Advantage Loan from IMB has a bundle of competitive features including additional repayment flexibility and a choice of monthly, fortnightly or weekly repayments. Plus, you’ll be able to save a bucketload on interest payments since your salary will be directly deposited into your Equity Line Advantage home loan. When you need to draw out cash, you’ll have 24/7 access to your home loan via internet and mobile banking, phone banking, credit card and branch, however transaction fees may apply.
| Product | Rate | Comparison Rate* | Service fee | Upfront fee |
|---|---|---|---|---|
| 5.39% p.a. | n/a | $0.00 | $769 | |
| 5.39% p.a. | n/a | $0.00 | $769 |
| Offset accountOffset account | Saving on interest is a breeze with a 100% offset account featured with IMB’s Accelerator, Essential and Standard Variable home loans. |
| IMB Bridging FinanceIMB Bridging Finance | IMB’s Bridging Finance is exclusively available to personal borrowers for up to 12 months and on loan amounts starting from $20,000. With IMB Bridging Finance, you don’t have to make any repayments on your new loan until your existing property is sold. |
| Additional repayments Additional repayments | Extra repayment flexibility is a handy feature to have when you want to get debt free sooner. The variable home loan options with IMB allow unlimited additional repayments whereas if you choose a fixed home loan you’ll only be able to make repayments for up to 12 months in advance without incurring charges. |
| Free redrawsFree redraws | In case you need to draw out any extra funds to cover your day to day living expenses, IMB’s variable, fixed and package home loans allow free redraws via internet and mobile banking. |
| Mobile lending specialistMobile lending specialist | Is applying for your home loan a little daunting? IMB have an extensive network of mobile lending specialists that will come to you at a time of your convenience to walk you through the entire application process. |
With interest rates at a record low, it’s now more imperative than ever to compare home loan providers and products on factors other than price. Our rate and review service asks real customers to rate IMB home loans on everything from convenience and features to customer service and trustworthiness.
* Overall rating based on reviews in the past 12 months.
As far as banks go, it would take a very good offer to make me change to another provider.
As far as banks go, it would take a very good offer to make me change to another provider.
Geoff (NSW), reviewed 5 months ago
The main pro of our home loan with IMB is our mortgage consultant. He's a mobile lender and is always on call. When queried, he gives us the most accurate and up-to-date information needed to make us at ease with any of our financial concerns....
The main pro of our home loan with IMB is our mortgage consultant. He's a mobile lender and is always on call. When queried, he gives us the most accurate and up-to-date information needed to make us at ease with any of our financial concerns. Being mobile comes in handy since the main con is that there are limited branches of this building society.
Therese (NSW), reviewed over 1 year ago
Tracey (WA), reviewed over 1 year ago
Good customer service but lacking in communication reply rates
Good customer service but lacking in communication reply rates
Neil (NSW), reviewed over 1 year ago
Personalised service like a small bank with big bank options.
Personalised service like a small bank with big bank options.
Patricia (NSW), reviewed over 1 year ago
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‡ Results from this calculation are estimates only as individual lenders apply different formulas. Actual repayments will depend on your individual circumstances and interest rate changes.
† Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.
If you want to apply for a home loan with IMB, you’ll need to complete an online application form.
Should you need assistance at any stage of the process, you can contact an IMB Bank loan specialist who can assist you in completing the application over the phone.
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