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Why choose a Standard Variable Rate Home Loan?


Make unlimited additional repayments to pay off your loan sooner, with no break costs to pay in the event of early repayment.

Offset account

Full interest offset facility to help you save on interest on your home (fees apply).


Redraw funds from any extra payments you have made, when you need it2.

Option to split your loan

Make part of your loan a fixed interest rate and part a variable interest rate.

Family Pledge

You could use the equity in a family member's home to guarantee part of your home loan. Learn more

Take a break from repayments

You may be able to pause or reduce your repayments for a set period (keep in mind after the break your repayments may be higher for the rest of your loan term).2

New Owner Occupier Loans

  • 3.19% p.a

    Standard Variable Rate
    with Advantage Package.1
    Principal & Interest repayments.4
    LVR+ above 60% up to 80%

  • 3.62% p.a

    Comparison rate*

New Residential Investment Loans

  • 3.77% p.a Standard Variable Rate
    with Advantage Package1
    Principal & Interest repayments.4
    LVR+ above 60% up to 80%
  • 4.18% p.a

    Comparison rate*


  • $600 Establishment Fee3
  • $10 Monthly administration fee
  • OR
  • $0 with Advantage Package1

Start your application online

Learn how much you could borrow.
Receive indicative approval in under 15 minutes.
A home loan expert will call you once you have submitted your application to talk through next steps.

Compare home loans & rates

Got insurance?

Home and Contents Insurance helps you get back on your feet if your home or personal belongings are affected in an unforeseen event. Plus save up to 25%.^^

The Detail

Credit criteria, fees and charges apply. Interest Rates are subject to change. Based on St.George credit criteria, residential lending is not available for Non-Australian resident borrowers.

Before making a decision, it’s best to read the terms and conditions:

Residential Loan Agreement – General Terms and Conditions (PDF 1MB)

Loan Accounts – Charges for specific services and accounts (PDF 841KB)

Advantage Package - Terms and Conditions (PDF 112KB)

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. Tax consequences may arise from promotions for investors and customers should seek independent advice on any taxation matters.

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.

  1. 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 (PDF 112KB), and consider if the product is right for you.

  2. Redraw and repayment reduction or pause requests are subject to bank approval. Fees apply.

  3. Other upfront fees and costs may apply

  4. Rate includes 1.30% p.a. standard Advantage Package discount, applicable for loans with total borrowing amounts above $100,000.

+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.

^^Quote and buy online and save 15% off your annual premium for the first year with promotional code COVER. Plus, save a further 10% when you combine home and contents located at the same address under one policy. Home and Contents Insurance is issued by Westpac General Insurance Limited ABN 99 003 719 319 (except workers compensation cover where applicable). Bank of Melbourne – a Division of Westpac Banking Corporation ABN 33 007 457 141 (the Bank) distributes the insurance, but does not guarantee the insurance.