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

Why choose Advantage Package?

Save when you package a home loan, credit card and transaction account

Discount on interest rates
Save up to 0.90 p.a. off our standard variable rate home loan with Advantage Package for loans of $750,000 of more2
All-in-one package
Combine a home loan, credit card, and transaction account to create your all-in-one package.

You also get...

$0 Home loan establishment fee

$0 Monthly home loan administration fee

$0 Annual credit card fee

$0 monthly transaction account-keeping fee

when you link your Complete Freedom account

$0 Monthly full offset service fee

Special offer


Cash back*

Receive $1,500 cash back* when you refinance to an new Owner Occupied, Principal & Interest or Investment home loan under the Advantage Package.  Annual Package fee of $395 applies with a minimum loan size of $250k. Excludes refinances from Bank of Melbourne, Westpac, St. George, BankSA, RAMS and Portfolio Loans. Offer ends 28 February 2019.

* Credit criteria, fees and charges apply. Based on Bank of Melbourne’s credit criteria, residential lending is not available for Non-Australian Resident borrowers. New home loan applications received from 1 September 2018 to 28 February 2019 and settled by 30 April 2019 for refinance purposes where foreign income is not required for serviceability. Offer current as at 1 September 2018. Offer may be varied or withdrawn at any time and not available in conjunction with any other special offers. Excludes refinances from Westpac, St.George Bank, BankSA, Bank of Melbourne and RAMS and Portfolio Loans. Advantage Package Terms and Conditions apply and are available in the Important information section below. $395 annual package fee applies. Only one cash back paid per main applicant. Multiple applications submitted by the same main applicant are not eligible. Applicants must have a Bank of Melbourne transaction account linked to the home loan at the time of settlement. Applicants’ home loan repayments must be direct debited from this transaction account. The cash back will be paid into this account within 60 days after settlement. Tax consequences may arise from this promotion for investors and customers should seek independent advice on any taxation matters.


Owner occupier

  • 4.59% p.a

    Standard Variable Rate
    with Advantage Package
    Principal & Interest repayment3

  • 4.99% p.a Comparison rate4

Residential Investment

  • 5.17% p.a

    Standard Variable Rate
    with Advantage Package
    Principal & Interest repayments3   

  • 5.55% p.a Comparison rate4

Annual Fees

  • $395 This single fee covers up to 5 home or investment loans1.

How it works

You don’t have to know each product you want before you apply online. Our home loan experts can help you find the right mix for you.
 Choose a Home Loan
Choose a Credit Card
Choose a Bank Account
Apply online

The Detail

Conditions, fees and credit criteria apply. Before making a decision, it’s best to read the terms and conditions.
Residential Loan Agreement
General Terms and Conditions.
Loan Accounts
Charges for specific services and accounts.
Advantage package
Terms and Conditions.
Portfolio Loan Agreement
General Terms and Conditions.

Start your journey online

Learn how much you could borrow, without knowing the loan type.
Receive indicative approval in under 10 minutes.
A home loan expert will call to talk you through your options.

Talk to us

Conditions, fees and credit criteria apply. Before making a decision, it’s best to read the terms and conditions:

Residential Loan Agreement - General Terms and Conditions (PDF 914KB)

Loan Accounts - Charges for specific services and accounts (PDF 1MB)

Portfolio Loan Agreement - General Terms and Conditions (PDF 8MB)

Bank of Melbourne Advantage Package - Terms and Conditions (PDF 1MB)

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.

  1. The Advantage Package will support up to 10 Portfolio sub-accounts in a Package and up to 5 sequence loans (e.g. loans with Flexible Choice). Note when Lenders Mortgage Insurance (LMI) applies, only single sequence loan or Portfolio Loans can be Packaged.

  2. This is a promotional offer available on applications received under the Advantage Package. Offer current as of 19 September 2016. Offer is not available for loan refinances of existing St.George Bank, BankSA, and Bank of Melbourne home loans. Advantage Package Conditions of Use apply and are available upon request. Advantage Package annual fee, currently $395, is payable from an eligible Bank of Melbourne transaction account.

  3. Rate includes 0.75% p.a Advantage Package Limited Time Special Discount, applicable for loans with total borrowing amounts of $250,000 to $499,999. These special interest rate discounts are only available for Standard Variable Rate and Portfolio Variable Rate Advantage Package Home Loans. These are current offers and may be withdrawn at any time. These special interest rate discounts are instead of, and cannot be taken in addition to the standard Advantage Package discounts. If you apply after the end of this offer the standard Advantage Package discounts which will apply are available at

  4. The comparison rate is based on a loan of $150,000 over a 25 year term.  After the fixed rate period expires the interest rate will revert to the applicable Standard Variable rate based on loan category and repayment type. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.