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Bank of Melbourne personal loan reviews

Bank of Melbourne
Bank of Melbourne's overall rating for personal loans

(as rated by the Mozo community)

7.1 / 10

based on 29 reviews

Price

Features

Customer service

Convenience

Trust

Featured personal loan from Bank of Melbourne

Recent Bank of Melbourne personal loan reviews

Bank of Melbourne

Bank of Melbourne Personal Loan review

Overall rating   8 / 10

Great bank.

Good bank for personal loans.

Full review

Good bank for personal loans.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   6 / 10

Less

Ashleigh, Victoria, reviewed about 4 hours ago

Bank of Melbourne

Bank of Melbourne Unsecured Personal Loan (Fixed) Unsecured Personal Loan review

Overall rating   8 / 10

Good customer service.

Most of the staff are very helpful.

Full review

Most of the staff are very helpful.

    Price   5 / 10

    Features   7 / 10

    Customer service   8 / 10

    Trust   8 / 10

Less

Amanda, Victoria, reviewed 6 days ago

Bank of Melbourne

Bank of Melbourne Secured Personal Loan (Fixed) Secured Personal Loan review

Overall rating   7 / 10

They really helped us when we were struggling

I like this bank because when we needed help we got the help we needed. The pricing is also ok.

Full review

I like this bank because when we needed help we got the help we needed. The pricing is also ok.

    Price   5 / 10

    Features   4 / 10

    Customer service   8 / 10

    Convenience   9 / 10

    Trust   8 / 10

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Alexander, Victoria, reviewed about 1 year ago

Bank of Melbourne

Bank of Melbourne Unsecured Personal Loan (Fixed) Unsecured Personal Loan review

Overall rating   10 / 10

Can't recommend them more highly

They are great to deal with.

Full review

They are great to deal with.

    Price   6 / 10

    Features   6 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Danny, Victoria, reviewed almost 4 years ago

Bank of Melbourne

Bank of Melbourne Get Set Loan review

Overall rating   7 / 10

Good customer service

Easy to approach and talk to about different loans

Full review

Easy to approach and talk to about different loans

    Price   5 / 10

    Features   5 / 10

    Customer service   8 / 10

    Convenience   7 / 10

    Trust   6 / 10

Less

Mark, Victoria, reviewed almost 4 years ago

Bank of Melbourne

Bank of Melbourne Secured Personal Loan (Fixed) Secured Personal Loan review

Overall rating   10 / 10

Good customer service

Awesome bank.

Full review

Awesome bank.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Jason, Western Australia, reviewed about 4 years ago

Bank of Melbourne

Bank of Melbourne Secured Personal Loan (Fixed) Secured Personal Loan review

Overall rating   10 / 10

Good service and will go ahead

Give it with trust and no paperwork.

Full review

Give it with trust and no paperwork.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Puneet, Victoria, reviewed over 4 years ago

Bank of Melbourne

Bank of Melbourne Personal Loan review

Overall rating   1 / 10

Terrible

Banked a lot of years, no customer service .

Full review

Banked a lot of years, no customer service .

    Price   2 / 10

    Features   2 / 10

    Customer service   1 / 10

    Convenience   2 / 10

    Trust   0 / 10

Less

Sue, Victoria, reviewed over 4 years ago

Bank of Melbourne

Bank of Melbourne Secured Personal Loan (Fixed) Secured Personal Loan review

Overall rating   6 / 10

Ok ok overall

It's good pricing but customer support is a mess. Long call times and they continuously transfer to other departments

Full review

It's good pricing but customer support is a mess. Long call times and they continuously transfer to other departments

    Price   8 / 10

    Features   7 / 10

    Customer service   4 / 10

    Convenience   4 / 10

    Trust   7 / 10

Less

Jas, Victoria, reviewed over 4 years ago

Bank of Melbourne

Bank of Melbourne Unsecured Personal Loan (Fixed) Unsecured Personal Loan review

Overall rating   10 / 10

Awesome

Awesome

Full review

Awesome

    Price   9 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Jason, Victoria, reviewed over 4 years ago

Bank of Melbourne

Bank of Melbourne Unsecured Personal Loan (Fixed) Unsecured Personal Loan review

Overall rating   8 / 10

Will always stay with this bank

Great customer service, not waiting for hours, lovely people to deal with, Australian call centre.

Full review

Great customer service, not waiting for hours, lovely people to deal with, Australian call centre.

    Price   6 / 10

    Features   6 / 10

    Customer service   10 / 10

    Convenience   8 / 10

    Trust   5 / 10

Less

Shannan, Victoria, reviewed over 4 years ago

Bank of Melbourne

Bank of Melbourne Personal Loan review

Overall rating   5 / 10

Transparency

At first they were very helpful but when nearly to the end they will push their own products like insurances. I feel that once I did not take their offer I got given the cold shoulder.

Full review

At first they were very helpful but when nearly to the end they will push their own products like insurances. I feel that once I did not take their offer I got given the cold shoulder.

    Price   5 / 10

    Features   5 / 10

    Customer service   6 / 10

    Convenience   4 / 10

    Trust   4 / 10

Less

Roxanne, Victoria, reviewed over 4 years ago

Bank of Melbourne

Bank of Melbourne Personal Loan review

Overall rating   1 / 10

Customer service quick

The information (lack of) in paying off and closing off the loan was terrible as 4 times the loan account was NOT closed off and I was charged admin fees 3 to 4 months after the loan had been paid off. After asking 3 to 4 times if there was...

Full review

The information (lack of) in paying off and closing off the loan was terrible as 4 times the loan account was NOT closed off and I was charged admin fees 3 to 4 months after the loan had been paid off. After asking 3 to 4 times if there was anything I needed to pay off and the answers given (no) each time... VERY unhappy with them.

    Price   2 / 10

    Features   1 / 10

    Customer service   0 / 10

    Convenience   4 / 10

    Trust   0 / 10

Less

Trent, Victoria, reviewed over 4 years ago

Bank of Melbourne

Bank of Melbourne Personal Loan review

Overall rating   1 / 10

All banks are pricks

I think all the big banks are all the same

Full review

I think all the big banks are all the same

    Price   2 / 10

    Features   2 / 10

    Customer service   0 / 10

    Convenience   1 / 10

    Trust   0 / 10

Less

Thomas, , reviewed almost 5 years ago

Bank of Melbourne

Bank of Melbourne Personal Loan review

Overall rating   6 / 10

Helpful and good

One who helps at any stage of life and is best at my part

Full review

One who helps at any stage of life and is best at my part

    Price   4 / 10

    Features   10 / 10

    Customer service   5 / 10

    Convenience   6 / 10

    Trust   8 / 10

Less

Paramjit singh, , reviewed almost 5 years ago

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

Personal loan comparisons on Mozo - rates updated daily

  • Symple Loans Personal Loan (Variable, Unsecured)

    Symple Loans Personal Loan (Variable, Unsecured)

    interest rate

    5.75% p.a.to 19.99% p.a.

    comparison rate*

    6.89% p.a.to 23.07% p.a.based on $30,000
    over 5 years

    fees

    $300.00upfront
    and
    $10.00/month

    Go to site

    More info

    Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 5.75% would cost $35,490.18 including fees.

    • Interest rate: 5.75% p.a.to 19.99% p.a.
    • Comparison rate*: 6.89% p.a.to 23.07% p.a.based on $30,000
      over 5 years
    • Upfront fee: $300
    • Monthly fee: $10.00
    • Exit fee: $0.00
    • Late payment fee: $35.00
    • Repayment options: Monthly
    • Early repayment penalty: $0.00
    • Minimum loan amount: $5,000.00
    • Maximum loan amount: $50,000.00
    • Minimum loan term: 1 Year
    • Maximum loan term: 7 Years
    • Security required: Unsecured
    • Other benefits:
    Need more information?
    Go to site

    More info

  • Harmoney Unsecured Personal Loan (Fixed)

    Harmoney Unsecured Personal Loan (Fixed)

    • Up to $70,000, unsecured. Fast, easy & 100% online
    • No hidden fees or early repayment penalties with Australasia's leading marketplace lending website
    • You're unique, so is your interest rate

    interest rate

    6.99% p.a.to 28.69% p.a.

    comparison rate*

    7.69% p.a.to 29.55% p.a.based on $30,000
    over 5 years

    fees

    $500.00upfront
    and
    $0.00/month

    Go to site

    More info

    Terms from 1 to 5 years. Representative example: a 5 year $30,000 loan at 6.99% would cost $36,133.67 including fees.

    • Up to $70,000, unsecured. Fast, easy & 100% online
    • No hidden fees or early repayment penalties with Australasia's leading marketplace lending website
    • You're unique, so is your interest rate
    • Interest rate: 6.99% p.a.to 28.69% p.a.
    • Comparison rate*: 7.69% p.a.to 29.55% p.a.based on $30,000
      over 5 years
    • Upfront fee: $500
    • Monthly fee: $0.00
    • Exit fee: $0.00
    • Late payment fee: $15.00
    • Repayment options: Weekly, Fortnightly, Monthly
    • Early repayment penalty: $0.00
    • Minimum loan amount: $2,000.00
    • Maximum loan amount: $70,000.00
    • Minimum loan term: 1 Year
    • Maximum loan term: 5 Years
    • Security required: Unsecured
    • Other benefits: Application fee is $200 for loans under $5,000.
    Overall rating

    8.3

    Based on 4 Harmoney personal loan reviews

    Need more information?
    Go to site

    More info

  • Featured product

     

    Latitude Low Rate Personal Loan (Fixed, Secured)

    Latitude Low Rate Personal Loan (Fixed, Secured)

    • Available to new Latitude personal loan customers only
    • Applicants must be mortgage holders or homeowners
    • Applicants need an excellent credit score to apply

    interest rate

    9.99% p.a.

    comparison rate*

    11.22% p.a.based on $30,000
    over 5 years

    fees

    $250.00upfront
    and
    $13.00/month

    Go to site

    More info

    Terms from 2 to 7 years. Representative example: a 5 year $30,000 loan at 9.99% would cost $39,265.82 including fees.

    • Available to new Latitude personal loan customers only
    • Applicants must be mortgage holders or homeowners
    • Applicants need an excellent credit score to apply
    • Interest rate: 9.99% p.a.
    • Comparison rate*: 11.22% p.a.based on $30,000
      over 5 years
    • Upfront fee: $250
    • Monthly fee: $13.00
    • Exit fee: $0.00
    • Late payment fee: $35.00
    • Repayment options: Weekly, Fortnightly, Monthly
    • Early repayment penalty: $300 in first half of loan, $0 in second half.
    • Minimum loan amount: $20,000.00
    • Maximum loan amount:
    • Minimum loan term: 2 Years
    • Maximum loan term: 7 Years
    • Security required: Residential Property, Various, Vehicle
    • Other benefits:
    Overall rating

    4.7

    Based on 191 Latitude personal loan reviews

    Need more information?
    Go to site

    More info

  • OurMoneyMarket Low Rate Personal Loan (Excellent Credit) (Fixed, Unsecured)

    OurMoneyMarket Low Rate Personal Loan (Excellent Credit) (Fixed, Unsecured)

    interest rate

    8.00% p.a.

    comparison rate*

    8.21% p.a.based on $30,000
    over 5 years

    fees

    $150.00upfront
    and
    $0.00/month

    Go to site

    More info

    Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 8.00% would cost $36,647.51 including fees.

    • Interest rate: 8.00% p.a.
    • Comparison rate*: 8.21% p.a.based on $30,000
      over 5 years
    • Upfront fee: $150
    • Monthly fee: $0.00
    • Exit fee: $0.00
    • Late payment fee: $35.00
    • Repayment options: Weekly, Fortnightly, Monthly
    • Early repayment penalty: $0.00
    • Minimum loan amount: $2,001.00
    • Maximum loan amount: $50,000.00
    • Minimum loan term: 1 Year
    • Maximum loan term: 7 Years
    • Security required: Unsecured
    • Other benefits:
    Need more information?
    Go to site

    More info

  • MOZO EXPERTS CHOICE AWARDS 2019

    RateSetter Unsecured Personal Loan (Variable)

    RateSetter Unsecured Personal Loan (Variable)

    • Low rates for borrowers with good credit
    • 1 min rate estimate, simple online application
    • No exit fees, no early repayment fees

    interest rate

    6.89% p.a.

    comparison rate*

    8.89% p.a.based on $10,000
    over 3 years

    fees

    $299.00upfront
    and
    $0.00/month

    Go to site

    More info

    Terms from 1 to 5 years. Representative example: a 3 year $10,000 loan at 6.89% would cost $11,396.66 including fees.

    • Low rates for borrowers with good credit
    • 1 min rate estimate, simple online application
    • No exit fees, no early repayment fees
    • Interest rate: 6.89% p.a.
    • Comparison rate*: 8.89% p.a.based on $10,000
      over 3 years
    • Upfront fee: $299
    • Monthly fee: $0.00
    • Exit fee: $0.00
    • Late payment fee: $30.00
    • Repayment options: Monthly
    • Early repayment penalty: $0.00
    • Minimum loan amount: $2,001.00
    • Maximum loan amount: $45,000.00
    • Minimum loan term: 1 Year
    • Maximum loan term: 5 Years
    • Security required: Unsecured
    • Other benefits:
    Overall rating

    5.0

    Based on 1 RateSetter personal loan reviews

    Need more information?
    Go to site

    More info

*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. 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.

Want more? Compare all 220 personal loans in the Mozo comparison engine.

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*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. 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.

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