Skip to main content Skip to accessibility page Skip to search input

Bank of Melbourne today announced that it will decrease its standard variable home loan rate, providing Victorians with highly competitive rates.

Our standard variable rate has decreased to 6.40% per annum, effective from 17 December 2012.

In addition, customers still have time to take advantage of Bank of Melbourne’s promise to beat any advertised equivalent home loan rate of the Big 4 if they take out a new home loan by 21 December.

Chief Executive, Scott Tanner said Bank of Melbourne was proud to be bringing real competition to banking by consistently offering Victorians a better deal.

“Bank of Melbourne is committed to providing a superior banking service to customers whilst also delivering some of the most competitive rates and products in the market,’’ Mr Tanner said.

“On average, Bank of Melbourne has been 15 basis points better than the majors, based on a $300,000 loan over the last 12 months.*

“We are also proud that CANSTAR recently awarded Bank of Melbourne’s Advantage Package a 5-Star rating, its highest possible score.”

Bank of Melbourne currently has a great set of offers in the market which will continue to deliver great value to Victorians.

“In addition to a competitive deal Bank of Melbourne customers can expect friendly and helpful service when they visit one of our branches or speak to one of our people on the phone,” said Mr Tanner.

“We are committed to taking the hassle out of banking by offering extended opening hours at certain branches, ensuring our small business customers have access to specialist bankers and providing smart and convenient mobile banking solutions.”

For more information about our Advantage Package and full terms and conditions relating to each of these offers, please visit a Bank of Melbourne branch, contact 13 22 66 or visit

The Detail

* Comparison based on $300,000 loan and average packaged loan rates of Westpac, ANZ, CBA and NAB