IMB Bank Budget Home Loan

This product is available in different versions. Pick the right version for you here.

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 90%

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 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 < 90%

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

  • Owner Occupier (Principal & Interest)

    LVR 90%-95%

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

  • Owner Occupier (Interest Only)

    LVR < 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

3.31% p.a.

3.37% p.a.

$0.00

IMB Bank Budget Home Loan

3.31% p.a.

3.37% p.a.

$0.00

3.61% p.a.

3.67% p.a.

$0.00

IMB Bank Budget Home Loan

3.61% p.a.

3.67% p.a.

$0.00

3.61% p.a.

3.49% p.a.

$0.00

IMB Bank Budget Home Loan

3.61% p.a.

3.49% p.a.

$0.00

3.66% p.a.

3.72% p.a.

$0.00

IMB Bank Budget Home Loan

3.66% p.a.

3.72% p.a.

$0.00

3.96% p.a.

3.84% p.a.

$0.00

IMB Bank Budget Home Loan

3.96% p.a.

3.84% p.a.

$0.00

Mozo Review   IMB Bank Budget Home Loan Review

Last updated: 19 August 2019.

What's hot:
  • 3.31% interest rate (3.37% comparison rate*) for owner-occupiers

  • Free extra repayments and redraw

What's not:
  • Minimum $500 redraw

Mozo snapshot:

If you're on the hunt for a low variable interest rate for your new home then take a look at IMB Bank’s Budget Special home loan. With interest rates as low as 3.31% (3.37% comparison rate*) for owner-occupiers with at least a 10% deposit, and no upfront fees, getting this loan starts you off on the right foot. It also comes with features such as free extra repayments and a redraw facility, as well as a split rate option.

Key features:

Interest rates are one of the most important aspect of your home loan, and the IMB Bank Budget Special home loan has a competitive variable interest rate of 3.36% (3.39% comparison rate*) on offer. This special offer also comes with no annual or application fees.

Having said that, there are a number of IMB Bank Budget home loan rate tiers available that differ depending on how much you have saved as a deposit, what kind of borrower you are and what kind of repayments you’re making. 

 - Owner-occupiers, LVR 90%-95%, principal and interest repayments - 3.61% interest rate (3.67% comparison rate*)

 - Owner-occupiers, LVR lower than 90%, principal and interest repayments - 3.31% interest rate (3.37% comparison rate*)

 - Owner-occupiers, LVR lower than 90%, interest only repayments - 3.61% interest rate (3.49% comparison rate*)

 - Investors, LVR lower than 90%, principal and interest repayments - 3.66% interest rate (3.72% comparison rate*)

 - Investors, LVR lower than 90%, interest only repayments - 3.96% interest rate (3.84% comparison rate*)

If you opt for one of these, there’s a $449 application fee and a $350 legal fee to budget for.

Whether you’re wanting to purchase your first apartment, or you're looking to upscale into a seaside villa, the wide $75,000 - $5,000,000 loan limits, will give you a good 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 save on interest 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 for no extra costs, as long as you redraw a minimum 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.

Who it's good for:

Owner occupiers who are able to take advantage of the special offer will get the best bang for their buck with this loan, as it will mean avoiding upfront fees that accompany other versions of the loan.

Any catches?

While the loan does allow you to have a maximum LVR of 95% in some cases, remember that as with any home loan, if you’re borrowing more than 80% of the property price, you’ll need to pay mortgage lender insurance, which could add thousands to your bill.

You'll also need to open an IMB transaction account with the loan to be eligible for the 3.31% interest rate.

Details

Rates and fees information correct as at 17 October 2019. 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
  • 3.31% p.a.

  • n/a

  • n/a

  • n/a

  • 3.37% 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
  • 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 17 October 2019. 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
  • 3.61% p.a.

  • n/a

  • n/a

  • n/a

  • 3.67% 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

  • 90.00%

  • 95.00%

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 17 October 2019. 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
  • 3.61% p.a.

  • n/a

  • n/a

  • n/a

  • 3.49% 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
  • 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 17 October 2019. 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
  • 3.66% p.a.

  • n/a

  • n/a

  • n/a

  • 3.72% 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 17 October 2019. 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
  • 3.96% p.a.

  • n/a

  • n/a

  • n/a

  • 3.84% 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

  • 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 customer rating
7.8/10
Price
7.4/10
Features
6.6/10
Customer service
7.9/10
Convenience
7.5/10
Trust
7.8/10

Latest reviews of IMB Bank Budget Home Loan

  • Overall
    8/10
    Would recommend

    Personal service. Great rate

    Personal service. Great rate

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

    Tracey | Western Australia

    reviewed almost 4 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...

    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

    John | New South Wales

    reviewed about 4 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.

    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

    Julie | Australian Capital Territory

    reviewed about 6 years ago

  • Overall
    10/10
    Home loan

    I find them very helpful and would refer to anyone.

    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

    Name not supplied | New South Wales

    reviewed about 6 years ago

  • Overall
    9/10
    Great rate and great internet banking

    Excellent rates, friendly staff and easy internet banking.

    Excellent rates, friendly staff and easy internet banking.

    Price
    9/10
    Features
    7/10
    Customer service
    7/10
    Convenience
    9/10
    Trust
    9/10

    Amanda | New South Wales

    reviewed almost 7 years ago

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.

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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.