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Top Home Loan FAQs

Portfolio Loan

Use the equity in your home to make other investments and build assets

  • Portfolio Loan is a flexible line of credit that combines your personal and investment finances into one home loan
  • Create up to 10 sub-accounts2 under your Portfolio Loan to suit your investment and lifestyle needs
  • Apply to borrow up to 90% of your home’s value to make other investments and build assets – such as shares, investment properties or even a new car1
  • Deposit your income directly into your Portfolio Loan, so every dollar will work to save you interest.
Apply online

A Bank of Melbourne home loan expert will contact you at your preferred time.

Flexible loan to build wealth

  • A flexible line of credit, where you could borrow up to 90% of the value of your secured property1 to purchase your home and make other investments.

Package and save!

You could get discounted interest rates and fees with Bank of Melbourne Advantage Package - a package deal for your home loan, credit card and transaction account5.

10 sub-accounts

  • Open up to 10 sub-accounts2 for your investment or lifestyle needs (eg. 1 for an investment property, 1 for shares etc). Use different ownership structures to help you manage tax and finances. Each sub-account issues separate monthly statements.

Choice of fixed or variable interest rates

Loan term & repayments

  • Portfolio Loan is an ongoing line of credit, with no set repayment term and flexible repayments
  • Choose to pay as often as you like, but at least monthly
  • Interest applies only to the outstanding balance.

Property, vacant land and building

  • Available for property or vacant land purchase
  • The variable rate portion of a Portfolio Loan can be used for building.

Great features!

Features include 24/7 access to your funds via ATMs, EFTPOS, Internet, Mobile and Phone Banking3, rate lock, Visa Debit card and more!

For your business

Compare

Fees
Save when you package your home loan, selected credit card and transaction account with Advantage Package, an annual package fee of $395 applies.
Establishment fee
  • $7004

Or
Additional sub-account fee
  • $100 per additional sub-account
Your choice of a monthly account administration fee or an annual fee Monthly fee

Or

Annual fee

  • $200 per annum for all sub-accounts
Other fees and charges apply. See a complete list of fees for loan accounts.
Interest rates
Balances   Variable Rate
All Balances    p.a.
Get an Advantage Package^ special discount on Balances $250,000+
Balances Advantage Package^ Limited Time Special Discount Standard Variable Rate with Advantage Package^ Limited Time Special Discount
$250,000 - $499,999  p.a  p.a
$500,000 +  p.a  p.a
Get an Advantage Package^ discount on Balances $100,000+
Balances Standard Advantage Package^ Discount Variable Rate with standard Advantage Package^ Discount
$100,000 - $149,999  p.a. p.a.
$150,000 - $249,999  p.a. p.a.
$250,000 - $499,999 p.a. p.a.
$500,000 - $749,999 p.a. p.a.
$750,000 - $999,999 p.a. p.a.
$1 Million + p.a. p.a.
Portfolio Loan Fixed Rate sub-accounts
Term Annual rate
1 year fixed  p.a.
2 year fixed  p.a.
3 year fixed  p.a.
4 year fixed  p.a.
5 year fixed  p.a.

All the features you need
Repayments
  • Frequency
    • Choose to pay as often as you like, but at least monthly
    • Interest applies only to the outstanding balance.
  • Additional payments
Package and save!
24/7 access to funds
Use up to 10 sub-accounts to build your wealth
  • Open up to 10 sub-accounts to suit your investment and lifestyle needs
  • Your primary sub-account must be on a variable interest rate and all other sub-accounts may be on a fixed or variable interest rate
  • All sub-accounts can be used for an investment property or investing in shares
  • Sub-accounts may have different ownership structures to help you manage your tax and finances, but a sub-account holder must be one or more of the Portfolio Loan borrowers and any remaining borrowers must be guarantors to that sub-account
Easy reporting

Separate monthly statements for each sub-account to make managing investments easy.
Increase your loan amount

Call us on 1300 000 266 or visit any Bank of Melbourne branch.
Choice of fixed or variable interest rates
Lock in a fixed rate

Rate lock lets you secure an advertised Fixed Rate on fixed rate sub-accounts for up to 90 days before your Portfolio Loan settles or the interest rate period on your current Bank of Melbourne home loan ends.6
Visa Debit Card

Link a Visa Debit card to your Portfolio Loan and shop securely wherever your Visa Debit card is accepted using money from your Portfolio Loan.
Portfolio Loan and your business

Apply online

Apply online. It takes just 15 minutes!

Enquire online

Enquire now and a Bank of Melbourne home loan expert will call at your preferred time.

Call us

1300 000 266. To talk with a Bank of Melbourne home loan expert, say “New Mortgage” when prompted.

Visit a branch

Find your nearest branch.

What you'll need to apply


Tips

 

How to apply

The Detail

Conditions, fees and credit criteria apply.

Before making a decision, it’s best to read the terms and conditions:

Please read these documents and keep a copy. You can request a paper copy at a branch.

The advice on our website is prepared without knowing your personal financial circumstances. Before you act on this or any advice, please consider if it’s right for you. If you need help, call 1300 000 266.

1 Property value as determined by Bank of Melbourne. Generally, Lender’s Mortgage Insurance is required on loans above 80% of the value of the property offered as security.
2 A sub-account holder must be one or more of the Portfolio Loan borrowers. The remaining borrowers on the Portfolio Loan must be guarantors on that sub account. Any Portfolio Loan borrower who is not a sub-account holder of a particular sub-account must guarantee that sub-account.
3 Subject to systems availability.
4 Other upfront fees and costs may apply.
5 Advantage Package annual fee of $395 applies, other fees may be payable.  The fee savings apply for the duration of the package. Contact Bank of Melbourne to see if you are eligible to receive Advantage Package benefits.
6 Rate lock requests are subject to our approval. Fees apply.
^Savings estimated are indicative only and will vary depending on individual circumstances and loan amount. Interest rates are subject to change. The following interest rate discounts are only available in Advantage Package. Standard interest rate discount, for loans between $100,000 and $149,999, of 0.25% p.a. discount will be applied; for loans between $150,000 to $249,999, 0.50% p.a. discount will be applied; for loans greater than $250,000, 0.70% p.a. discount will be applied. No discount applies for loans below $100,000. Special interest rate discounts for loans between $250,000 and $499,999, for new packaged loans and loan amounts applied for between 8 February 2012 and 31 March 2012, 0.90% p.a. discount will be applied. For loans greater than $500,000, for new packaged loans and loan amounts applied for between 8 February 2012 and 31 March 2012, 1% p.a. discount will be applied. Special rate discounts include the standard Advantage Package discount of 0.70% p.a. discount and do not apply to internal refinances and are not transferrable between loans; for loans greater than $250,000, 0.70% p.a. discount will be applied. No discount applies for loans below $100,000. Advantage Package annual fee, currently $395, is payable from an eligible Bank of Melbourne transactional account.