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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
2.61% p.a.
Comparison Rate
2.67% p.a.
Service fee
$0.00
Upfront fee
$773
Rate
2.78% p.a.
Comparison Rate
2.84% 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
3.08% p.a.
Comparison Rate
2.96% p.a.
Service fee
$0.00
Upfront fee
$799
Rate
3.08% p.a.
Comparison Rate
3.14% p.a.
Service fee
$0.00
Upfront fee
$799
Rate
3.38% p.a.
Comparison Rate
3.26% p.a.
Service fee
$0.00
Upfront fee
$799

Mozo editorial review IMB Bank Budget Home Loan

Last updated: 16 December 2020.

binocular icon
What's hot
  • Variable rates from 2.61% (2.67% 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 2.61% (2.67% 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 2.61% (2.67% 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 19 January 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
  • 2.61% p.a.

  • n/a

  • n/a

  • n/a

  • 2.67% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $449.00

  • $323.74

  • 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 19 January 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

  • 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 19 January 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

  • 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 19 January 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

  • 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 19 January 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

  • 3.14% 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 19 January 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
  • 3.38% p.a.

  • n/a

  • n/a

  • n/a

  • 3.26% 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
7.8/10

Latest reviews of IMB Bank Budget Home Loan

  • Overall 10/10
    Easy access to online app.

    Totally awesome great customer service and very helpful. Rates are very low. Recommend to anyone.

    Read full review

    Totally awesome great customer service and very helpful. Rates are very low. Recommend to anyone.

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Christopher, New South Wales reviewed about 1 year ago
  • Overall 8/10
    Would recommend

    Personal service. Great rate

    Read full review

    Personal service. Great rate

    Price
    9/10
    Features
    9/10
    Customer service
    9/10
    Convenience
    9/10
    Trust
    9/10
    Less
    Tracey, Western Australia reviewed about 5 years ago
  • Overall 5/10
    Over twenty years with them

    I gave this harsh review for one reason. I had banked with the IMB since I was a child. When I took over a Transport company in my twenties, I continued to use them for every service they could provide. I can say that for over twelve months I had all my incoming finances landing there, over 30K/mth. A lot of this was outgoing business expenses but I was earning very good money. I was utterly shattered when they rejected my application for a home loan, over twenty years with them and I was treated like a number. Anyway, I did get my home loan from another bank, and they have the pleasure of earning interest from my financial activities.

    Read full review

    I gave this harsh review for one reason. I had banked with the IMB since I was a child. When I took over a Transport company in my twenties, I continued to use them for every service they could provide. I can say that for over twelve months I had all my incoming finances landing there, over 30K/mth. A lot of this was outgoing business expenses but I was earning very good money. I was utterly shattered when they rejected my application for a home loan, over twenty years with them and I was treated like a number. Anyway, I did get my home loan from another bank, and they have the pleasure of earning interest from my financial activities.

    Price
    7/10
    Features
    7/10
    Customer service
    3/10
    Convenience
    5/10
    Trust
    2/10
    Less
    John, New South Wales reviewed over 5 years ago
  • Overall 6/10
    Personal service, real people, good products.

    The IMB still gives you the old fashioned service whilst being a modern organisation.

    Read full review

    The IMB still gives you the old fashioned service whilst being a modern organisation.

    Price
    6/10
    Features
    4/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    6/10
    Less
    Julie, Australian Capital Territory reviewed over 7 years ago
  • Overall 10/10
    Home loan

    I find them very helpful and would refer to anyone.

    Read full review

    I find them very helpful and would refer to anyone.

    Price
    7/10
    Features
    7/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Mozo community reviewer, New South Wales reviewed over 7 years ago
Thumbnail icon for IMB Bank

About IMB Bank

IMB is one of Australia's largest building society servicing the lower east coast of Australia. IMB's better value banking offers its customers lower cost banking and secure services. IMBs' face-to-face facilities allow them to offer a more personalised service in taking care of the IMB community. IMB offers a range of products including insurance, business banking, term deposits, saving & transaction accounts and home & personal loans.

See IMB Bank home loans

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2.19% p.a. variable

2.19% p.a.

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2.04% p.a.
fixed 3 years

2.73% p.a.

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Basic Home Loan (Fixed)

2.19% p.a.
fixed 3 years

2.53% p.a.

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1.99% p.a.
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2.20% p.a.

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2.17% p.a. variable

2.20% p.a.

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Smart Booster Home Loan

1.99% p.a.variable for 12 months and then 2.48% p.a. variable

2.47% p.a.

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UBank

UHomeLoan (Fixed)

1.95% p.a.
fixed 3 years

2.27% p.a.

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Athena

AcceleRATES Variable Home Loan

2.19% p.a. variable

2.19% p.a.

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Virgin Money

Reward Me Fixed Rate Home Loan

2.04% p.a.
fixed 3 years

2.73% p.a.

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Macquarie

Basic Home Loan (Fixed)

2.19% p.a.
fixed 3 years

2.53% p.a.

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86 400

Neat Home Loan

2.19% p.a. variable

2.20% p.a.

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Suncorp

Fixed Home Loan (Home Package Plus)

1.99% p.a.
fixed 3 years

2.90% p.a.

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Well Home Loans

Well Balanced

2.17% p.a. variable

2.20% p.a.

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Smart Booster Home Loan

1.99% p.a.variable for 12 months and then 2.48% p.a.

2.47% p.a.

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UBank

UHomeLoan - Discount Offer

2.34% p.a.

2.34% p.a.

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Athena

AcceleRATES Variable Home Loan

2.19% p.a.

2.19% p.a.

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Macquarie

Basic Home Loan

2.64% p.a.

2.64% p.a.

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86 400

Neat Home Loan

2.19% p.a.

2.20% p.a.

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Well Home Loans

Well Balanced

2.17% p.a.

2.20% p.a.

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Basic Variable Home Loan

2.49% p.a.

2.49% p.a.

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Suncorp

Back to Basics

2.54% p.a.

2.55% p.a.

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Fixed Home Loan

1.99% p.a.
fixed 3 years

2.70% p.a.

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UBank

UHomeLoan (Fixed)

1.95% p.a.
fixed 3 years

2.27% p.a.

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Virgin Money

Reward Me Fixed Rate Home Loan

2.04% p.a.
fixed 3 years

2.73% p.a.

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Macquarie

Basic Home Loan (Fixed)

2.19% p.a.
fixed 3 years

2.53% p.a.

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Well Home Loans

Well Balanced Fixed

2.04% p.a.
fixed 3 years

2.17% p.a.

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Suncorp

Fixed Home Loan (Home Package Plus)

2.19% p.a.
fixed 3 years

3.03% p.a.

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Fixed Rate Home Loan (Package)

1.99% p.a.
fixed 3 years

3.62% p.a.

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Fixed Rate

2.09% p.a.
fixed 3 years

3.01% p.a.

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Smart Booster Home Loan

1.99% p.a.variable for 12 months and then 2.48% p.a.

2.47% p.a.

$0.00

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UBank

UHomeLoan - Discount Offer

2.34% p.a.

2.34% p.a.

$0.00

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Athena

AcceleRATES Variable Home Loan

2.19% p.a.

2.19% p.a.

$0.00

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86 400

Neat Home Loan

2.19% p.a.

2.20% p.a.

$0.00

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Well Home Loans

Well Balanced

2.17% p.a.

2.20% p.a.

$0.00

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Yard

Variable Home Loan Special

2.09% p.a.

2.12% p.a.

$0.00

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Real Deal Home Loan

2.59% p.a.

2.63% p.a.

$0.00

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GMCU

Basic Variable

2.33% p.a.variable for 24 months and then 3.82% p.a.

3.71% p.a.

$8.00 monthly

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.