Bank of Melbourne personal loans

3.7
Based on 32 Bank of Melbourne personal loan product reviews.
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Alongside St.George and BankSA, the Bank of Melbourne falls under the umbrella of big four bank Westpac. Through this lender you’ll enjoy great accessibility with over 100 branches scattered across Victoria and an ATM network that is part of Australia’s largest regional banking network. When it comes to personal loans, the Bank of Melbourne has an unsecured personal loan or a secured loan which requires you to put up your car as security for the loan. 

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Last updated 30 October 2024 Important disclosures and comparison rate warning*

Bank of Melbourne personal loans

  • Unsecured Personal Loan

    • Fixed
    Interest rate from
    7.49 % p.a.
    to
    20.59 % p.a.
    Comparison rate from
    8.54 % p.a.
    to
    21.59 % p.a.
    Based on $30,000 over 5 years
    Upfront fee
    $250
    Link not supplied

  • Secured Personal Loan

    • Fixed
    Interest rate from
    6.49 % p.a.
    to
    12.99 % p.a.
    Comparison rate from
    7.69 % p.a.
    to
    14.14 % p.a.
    Based on $30,000 over 5 years
    Upfront fee
    $250
    Link not supplied

  • Unsecured Personal Loan

    • Variable
    Interest rate from
    7.49 % p.a.
    to
    20.59 % p.a.
    Comparison rate from
    8.54 % p.a.
    to
    21.59 % p.a.
    Based on $30,000 over 5 years
    Upfront fee
    $250
    Link not supplied

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Bank of Melbourne personal loan ratings

Overall customer rating for Bank of Melbourne personal loans

3.7
Based on 32 product reviews.

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* WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. 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.

^See information about the Mozo Experts Choice Personal Loan Awards

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