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IMB Bank Budget Home Loan

Advertiser disclosure

The details shown below are for an owner occupier taking out a principal & interest loan between $75,000 and $5,000,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest loan between $75,000 and $5,000,000 with an LVR below 95%

The details shown below are for an owner occupier taking out a interest only loan between $75,000 and $5,000,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a interest only loan between $75,000 and $5,000,000 with an LVR below 90%

The details shown below are for an investor taking out a principal & interest loan between $75,000 and $5,000,000 with an LVR below 90%

The details shown below are for an investor taking out a interest only loan between $75,000 and $5,000,000 with an LVR below 90%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $75,000 $5,000,000

  • Owner Occupier (Principal & Interest)

    LVR 80%-95%

    Loan: $75,000 $5,000,000

  • Owner Occupier (Interest Only)

    LVR < 80%

    Loan: $75,000 $5,000,000

  • Owner Occupier (Interest Only)

    LVR 80%-90%

    Loan: $75,000 $5,000,000

  • Investor (Principal & Interest)

    LVR < 90%

    Loan: $75,000 $5,000,000

  • Investor (Interest Only)

    LVR < 90%

    Loan: $75,000 $5,000,000

Rate
2.48% p.a.
Comparison Rate
2.54% p.a.
Service fee
$0.00
Upfront fee
$799
Rate
2.68% p.a.
Comparison Rate
2.74% p.a.
Service fee
$0.00
Upfront fee
$799
Rate
2.78% p.a.
Comparison Rate
2.66% p.a.
Service fee
$0.00
Upfront fee
$799
Rate
2.98% p.a.
Comparison Rate
2.86% p.a.
Service fee
$0.00
Upfront fee
$799
Rate
2.78% p.a.
Comparison Rate
2.84% p.a.
Service fee
$0.00
Upfront fee
$799
Rate
3.08% p.a.
Comparison Rate
2.96% p.a.
Service fee
$0.00
Upfront fee
$799

Mozo editorial review IMB Bank Budget Home Loan - last updated: 2 July 2021

binocular icon
What's hot
  • Variable rates from 2.48% (2.54% comparison rate*)
  • Free extra repayments and redraws
  • No ongoing fees
What's not
  • Minimum redraw amount of $500
Mozo snapshot

If you're on the hunt for a competitive variable interest rate for your home then take a look at IMB Bank’s Budget Home Loan. With interest rates as low as 2.48% (2.54% comparison rate*) for owner occupiers with a deposit of at least 20%, and no ongoing fees, this loan could start you off on the right foot. It also comes with additional features such as free extra repayments, a free redraw facility and a split rate option.

key icon
Key features

Interest rates are one of the most important aspect of your home loan, so you'll be pleased to know that the IMB Bank Budget Home Loan has a number of competitive variable interest rates for both owner occupiers and investors starting from just 2.48% (2.54% comparison rate*) for owner occupier borrowers with a deposit of at least 20%. 

Whether you’re wanting to purchase your first apartment, or you're looking to refinance an existing home loan, the wide $75,000 - $5,000,000 loan limit could give you the opportunity to get the home you need. Plus the IMB Bank Budget home loan lets you choose between weekly, fortnightly and monthly repayment terms.

If you want to pay off your loan faster by making extra repayments, you’ll be able to do so for free. And if you need to get that money back for some extra help on a rainy day, you can do so at no extra cost, though there is a minimum redraw amount of $500.

With the IMB Bank Budget home loan you’re also able to take advantage of a split rate option, so you can have both the consistency of a fixed rate and the flexibility of a variable rate.

snapshot
Who is it good for

Owner occupiers who've saved up a 20% deposit can snag the lowest rates with this home loan. If you're a refinancer, keep in mind that you can't switch an existing IMB loan to this loan.


question icon
Any catches

Don't forget that while there are no ongoing fees, the Budget Home Loan does come with a few one-off costs including a  $449 application fee, a $323.74 legal fee and a $350 discharge fee.

Details

Rates and fees information correct as at 31 July 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

2.48% p.a.

n/a

n/a

n/a

2.54% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$449.00

$350.00

n/a

n/a

n/a

$0.00

$350.00

Other financial bits

$75,000

$5,000,000

none

80.00%

Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

no

yes - free

$500.00

yes

no

none

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 31 July 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

2.68% p.a.

n/a

n/a

n/a

2.74% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$449.00

$350.00

n/a

n/a

n/a

$0.00

$350.00

Other financial bits

$75,000

$5,000,000

80.00%

95.00%

Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

no

yes - free

$500.00

yes

no

An IMB transaction account must be opened with the loan to be eligible for this interest rate.

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 31 July 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

2.78% p.a.

n/a

n/a

n/a

2.66% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$449.00

$350.00

n/a

n/a

n/a

$0.00

$350.00

Other financial bits

$75,000

$5,000,000

none

80.00%

Features

Owner Occupier

Interest Only

Weekly, Fortnightly, Monthly

yes - free

no

yes - free

$500.00

yes

no

none

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 31 July 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

2.98% p.a.

n/a

n/a

n/a

2.86% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$449.00

$350.00

n/a

n/a

n/a

$0.00

$350.00

Other financial bits

$75,000

$5,000,000

80.00%

90.00%

Features

Owner Occupier

Interest Only

Weekly, Fortnightly, Monthly

yes - free

no

yes - free

$500.00

yes

no

none

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 31 July 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

2.78% p.a.

n/a

n/a

n/a

2.84% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$449.00

$350.00

n/a

n/a

n/a

$0.00

$350.00

Other financial bits

$75,000

$5,000,000

none

90.00%

Features

Investor

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

no

yes - free

$500.00

yes

no

none

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 31 July 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

3.08% p.a.

n/a

n/a

n/a

2.96% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$449.00

$350.00

n/a

n/a

n/a

$0.00

$350.00

Other financial bits

$75,000

$5,000,000

none

90.00%

Features

Investor

Interest Only

Weekly, Fortnightly, Monthly

yes - free

no

yes - free

$500.00

yes

no

none

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 IMB Bank home loans rated by the Mozo community?

Overall
7.8/10
Price
7.4/10
Features
6.7/10
Customer service
8.0/10
Convenience
7.6/10
Trust
7.9/10

Latest reviews of IMB Bank Budget Home Loan

About IMB Bank

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.