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 70%

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 70%

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 70%-90%

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

  • Owner Occupier (Principal & Interest)

    LVR < 70%

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

  • Owner Occupier (Principal & Interest)

    LVR 90%-95%

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

  • Owner Occupier (Interest Only)

    LVR < 70%

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

  • Owner Occupier (Interest Only)

    LVR 70%-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

3.13% p.a.

3.19% p.a.

$0.00

IMB Bank Budget Home Loan

3.13% p.a.

3.19% p.a.

$0.00

3.03% p.a.

3.09% p.a.

$0.00

IMB Bank Budget Home Loan

3.03% p.a.

3.09% p.a.

$0.00

3.48% p.a.

3.54% p.a.

$0.00

IMB Bank Budget Home Loan

3.48% p.a.

3.54% p.a.

$0.00

3.33% p.a.

3.21% p.a.

$0.00

IMB Bank Budget Home Loan

3.33% p.a.

3.21% p.a.

$0.00

3.43% p.a.

3.31% p.a.

$0.00

IMB Bank Budget Home Loan

3.43% p.a.

3.31% p.a.

$0.00

3.48% p.a.

3.54% p.a.

$0.00

IMB Bank Budget Home Loan

3.48% p.a.

3.54% p.a.

$0.00

3.78% p.a.

3.66% p.a.

$0.00

IMB Bank Budget Home Loan

3.78% p.a.

3.66% p.a.

$0.00

Mozo Review   IMB Bank Budget Home Loan Review

Last updated: 21 November 2019.

What's hot:
  • Rates from 3.03% (3.09% comparison rate*) for owner occupiers

  • Free extra repayments and redraw

  • Zero ongoing fees

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 home loan. With interest rates as low as 3.03% (3.09% comparison rate*) for owner-occupiers with at least a 30% 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 Home Loan has a number of competitive variable interest rates starting from just 3.03% (3.09% comparison rate*) for borrowers with a deposit of at least 30%.

Having said that, there are a number of other 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. 

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 competitive low rate offer for higher deposits will get great bang for their buck with IMB Bank's Budget Home Loan. 

Any catches?

Aside from the higher LVR (70%) requirement for the lowest interest rate tier, borrowers will also need to remember that the loan does come with a $449.00 application fee and $350.00 legal fee.

Details

Rates and fees information correct as at 27 January 2020. 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
  • 3.13% p.a.

  • n/a

  • n/a

  • n/a

  • 3.19% 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

  • 70.00%

  • 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 27 January 2020. 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
  • 3.03% p.a.

  • n/a

  • n/a

  • n/a

  • 3.09% 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

  • 70.00%

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 27 January 2020. 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
  • 3.48% p.a.

  • n/a

  • n/a

  • n/a

  • 3.54% 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

  • 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 27 January 2020. 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
  • 3.33% p.a.

  • n/a

  • n/a

  • n/a

  • 3.21% 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

  • 70.00%

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 27 January 2020. 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
  • 3.43% p.a.

  • n/a

  • n/a

  • n/a

  • 3.31% 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

  • 70.00%

  • 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 27 January 2020. 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
  • 3.48% p.a.

  • n/a

  • n/a

  • n/a

  • 3.54% 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

  • 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 27 January 2020. 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
  • 3.78% p.a.

  • n/a

  • n/a

  • n/a

  • 3.66% 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

  • 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
7.9/10
Price
7.4/10
Features
6.6/10
Customer service
8.0/10
Convenience
7.6/10
Trust
7.9/10

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 3 months 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 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 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 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.

    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 6 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 6 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.

See IMB Bank home loans

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$799

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2.84% p.a. variable

2.84% p.a.

$0

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2.84% p.a. variable

2.80% p.a.

$0

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3.09% p.a. variable

3.09% p.a.

$0

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Star Essentials Home Loan

2.74% p.a. variable

2.77% p.a.

$596

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Discount Variable Home Loan

3.07% p.a. variable

3.12% p.a.

$750

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UHomeLoan - Discount Offer

2.84% p.a.

2.84% p.a.

$0

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2.88% p.a.

2.90% p.a.

$520

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Macquarie

Macquarie

Basic Home Loan

3.09% p.a.

3.09% p.a.

$0

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Newcastle Permanent

Newcastle Permanent

Real Deal Home Loan

3.19% p.a.

3.23% p.a.

$0

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Athena

Athena

Variable Home Loan

2.84% p.a.

2.80% p.a.

$0

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Budget Home Loan

3.13% p.a.

3.19% p.a.

$799

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Essentials Variable

3.04% p.a.

3.06% p.a.

$520

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Discount Variable Home Loan

3.07% p.a.

3.12% p.a.

$750

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Fixed Home Loan

2.99% p.a.
fixed 3 years

3.27% p.a.

$520

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UHomeLoan (Fixed)

2.84% p.a.
fixed 3 years

3.59% p.a.

$395

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Fixed Rate

2.99% p.a.
fixed 3 years

3.72% p.a.

$450

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2.89% p.a.
fixed 3 years

3.96% p.a.

$0

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Fixed Rate Loan (Home Advantage)

2.99% p.a.
fixed 3 years

3.59% p.a.

$150

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3.79% p.a.
fixed 3 years

3.47% p.a.

$520

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Fixed Rate Loan (Home Advantage)

2.99% p.a.
fixed 3 years

3.59% p.a.

$150

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2.79% p.a.
fixed 3 years

3.13% p.a.

$840

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2.88% p.a.

2.90% p.a.

$0.00

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UHomeLoan - Discount Offer

2.84% p.a.

2.84% p.a.

$0.00

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Athena

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Variable Home Loan

2.84% p.a.

2.80% p.a.

$0.00

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Macquarie

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Basic Home Loan

3.09% p.a.

3.09% p.a.

$0.00

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ZIP Home Loan

3.08% p.a.

3.10% p.a.

$0.00

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Bank of Sydney

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BOSBasic Home Loan

2.96% p.a.

3.01% p.a.

$0.00

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Mortgage House

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Red Home Loan - Early Bird Special

2.89% p.a.

2.93% p.a.

$0.00

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Discount Variable Home Loan

3.07% p.a.

3.12% p.a.

$0.00

*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.