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Home Loan Interest rates
View our latest interest rates for a range of Bank of Melbourne home loans to suit your needs. Compare our variable and fixed interest rates for owner occupiers and investors.
For new Owner Occupier (Principal & Interest), Advantage Package Home Loans*, $395 annual package fee applies. LVR+ above 60% up to 80%. If you’re an existing Bank of Melbourne Home Loan customer, find out how to manage your home loan.
2.04% p.a. 1 year fixed rate |
3.51% p.a. Comparison rate1 |
1.84% p.a. 2 year fixed rate |
3.38% p.a. Comparison rate1 |
1.93% p.a. 3 year fixed rate |
3.30% p.a. Comparison rate1 |
1.94% p.a. 4 year fixed rate |
3.21% p.a. Comparison rate1 |
T&C's apply. See comparison rate warning.
Getting the most from your home loan is easy when you understand how to use the features of your mortgage to your advantage. Read more
Find out how much you may be able to borrow and the potential costs involved in buying a home.
See how much you may need to pay back each week or month.
Work out how much you could pay in stamp duty and other fees.
Discover what you need to know about the property trends in your suburbs or the estimated value of a property you’re looking to buy.
See at a glance how fees, features and loan purposes differ by product.
View and compare all of our current home loan interest rates.
Estimate how much you could borrow by entering your income and expenses
There are some great ways to save on your home loan.
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 information on our website is prepared without knowing your personal financial circumstances. Before you act on this, please consider if it’s right for you. If you need help, call 13 22 66.
Fixed rate home loan: The Bank will apply the fixed rate that is available at the loan settlement date or the date the fixed rate period commences. At the end of the fixed rate period the interest rate will convert to the applicable variable home loan interest rate.
*Advantage Package Terms and Conditions apply. A $395 annual package fee applies and is payable from an eligible Bank of Melbourne transaction account. An Advantage Package discount has been included in the advertised eligible rate. The discount and fee savings apply for the duration of the package. Before deciding to acquire a Bank of Melbourne transaction account, read the terms and conditions, and consider if the product is right for you.
1 Comparison Rate: The comparison rate is based on a loan of $150,000 over a term of 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
+LVR stands for the initial loan to value ratio at loan approval. LVR is the amount of your loan compared to the banks valuation of your property offered to secure your loan expressed as a percentage. Home loan rates for new loans are set based on the initial LVR and don’t change because of changes to the LVR during the life of the loan. Any applicable LVR discount has been included in the advertised eligible rate.
#Basic Home Loan Promotional Rate: This offer is only available for new Basic Home Loan applications received from 9/03/2021. Discount applies to our Basic Home Loan offer for the life of the loan. Excludes internal refinances and switches within the Westpac Group, which includes Westpac, St.George, Bank of Melbourne, BankSA and RAMS. This offer may be varied or withdrawn at any time. Interest rates subject to change.
The output or result of these calculators:
a. is subject to the assumptions which are subject to change;
b. is prepared without knowing your personal financial circumstances. Before you act on the output of the calculators, please consider if it’s right for you. If you need more information, please call 13 22 66. We recommend that you consult your financial adviser before taking out a loan;
c. does not represent either a quote or pre-qualification for a loan;
d. may not be taken into account if you apply for a loan with us as we will make our own calculations. When assessing ability to service a loan, Bank of Melbourne may use an interest rate that is higher than the current interest rate for the loan requested.
The interest rates used in the calculator:
a. are current, as indicated on our home loan interest rate pages
b. are Bank of Melbourne's standard interest rates and include any package or promotional discounts; and
c. are subject to change.
d. LVR above 60% up to 80%