Internet BankingInternet Banking is an electronic means of accessing your account information and conducting your banking online. You can access transaction information as well as transfer funds and pay bills using Bank of Melbourne Internet Banking.
Interest Free DaysIf you have interest free days on your card account, you are not charged interest on purchases, interest charges (if any) or on our fees listed on a statement if you always pay the full closing balance (excluding the balance of any cash advances) on a statement by the due date. There is no interest free period for cash advances.
Interest Offset facilityAn Interest Offset Facility is an arrangement with the Bank that allows you to offset the interest you would earn on your savings account against interest you pay on your loan account. The interest charged to your home loan is calculated on the difference between the home loan balances less the balance in your savings account. The benefit is the same as if you had paid the savings into your home loan but without the money leaving your transaction account!
InvestmentThe purchase of an asset (like real estate) in order to produce capital gain on resale or to earn income or both.