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Bank of Melbourne today announced cuts to its 1, 3, 4 and 5-year fixed rate home loans, including a very competitive 3-year fixed rate of 4.95% per annum under the Advantage Package.

The new rates, effective from 21 May, 2013, are available for a limited time. They follow a recent reduction in Bank of Melbourne’s standard variable home loan rate to 6.15% per annum.

In addition to providing very competitive home loan rates, Bank of Melbourne continues to provide flexibility to customers, with the ability to combine a fixed and variable loan under our Advantage Package.

Bank of Melbourne Chief Executive Scott Tanner said home buyers and investors could choose from a range of home loan offers to fulfil their lifestyle needs and cater to their individual circumstances.

“This is a great time for Victorians in the market for a home loan to come and visit Bank of Melbourne. We are committed to providing Victorians with outstanding value and service and a home loan that’s right for them,” Mr Tanner said.

“Quite simply, Victorians will receive a great deal on a home loan when they come to Bank of Melbourne.”

The new fixed home loan rates, effective from 21 May, 2013, are for new customers as well as existing customers switching into a new fixed rate.

The following fixed home loan rates are as follows, once the Advantage Package discount of 0.15% per annum is applied:

Old Rate

New Rate

1-year

5.15% per annum

4.99% per annum

2-year

unchanged

4.99% per annum

3-year

5.29% per annum

4.95% per annum

4-year

5.64% per annum

5.49% per annum

5-year

5.69% per annum

5.49% per annum

For more information about the Advantage Package and full terms and conditions relating to all Bank of Melbourne’s home loans please visit bankofmelbourne.com.au, visit a Bank of Melbourne branch or contact 13 22 66.