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Refinance to an Advantage Package Home Loan and get up to 12 months of electricity on us, capped at $3,000.^


For Victorian residents with Owner Occupied, Principal and Interest repayments only. Minimum loan size of $250k and $395 annual package fee applies. Excludes internal refinances or switches from Westpac, St.George Bank, BankSA, Bank of Melbourne and RAMS.

Applications submitted via in branch, online or by phone on 13 22 66 between 1 July and 31 August 2018 with loan settled by 30 September 2018. To receive complimentary electricity, customers must sign up to Red Energy.

Get the reassurance of our trusted electricity supplier, red energy

100% local service
Every one of their customer solutions team is based in Melbourne.
100% matched renewable energy**
**Red Energy promises that for every unit of electricity you buy from Red Energy, Snowy Hydro Limited will match it by generating one unit of electricity from a renewable source.
100% Australian
Red Energy is owned by Snowy Hydro, so they’re 100% Australian.



Get on your way with our Advantage Package

Your $395 annual package fee gives you...

Discounted interest rates on your home loan

No home loan establishment fee

No monthly home loan admin fee

No monthly transaction account keeping fee

No annual credit card fee if you take up one of our selected credit cards


Taking up this offer and moving electricity providers is completely up to you, however this offer is only available with Red Energy Pty Ltd so you will need to become a Red Energy Pty Ltd customer in order to receive your complimentary electricity.


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)

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.

Advantage Package Terms and Conditions of Use and $395 annual package fee applies. Interest rate discount for packaged loans is based on loan type and amount.

^Offer is available to Victorian residents only who apply and settle a new Owner Occupied home loan, with Principal and Interest repayments as taken as part of the Advantage Package with a minimum loan size of $250,000. Offer is valid for applications submitted in branch, online or by phone on 13 22 66 between 1 July 2018 and 31 August 2018 and loan settled by 30 September 2018 for refinance purposes only. Excludes internal refinances or switches from Westpac, St.George Bank, BankSA, Bank of Melbourne and RAMS, refinances that require foreign income for serviceability. Not available to company and trust account holders. Electricity is supplied by Red Energy Pty Ltd and is not transferable or exchangeable for cash and is not available in conjunction with any other Red Energy or Bank of Melbourne promotion or discount offer. The offer is limited to an individual property address and must be used for the property for which the eligible home loan has financed.  Only one offer per property address and the eligible property must be a customer of Red Energy Pty Ltd. Complimentary electricity charges are capped at $3,000 or 12 months whichever is the sooner. Red Energy will determine the applicable charges based on location and metering configuration. Complimentary energy is not available to customers who Red Energy is unable to supply or bill as the result of certain meter or tariff configuration. The offer must be activated within 30 days of home loan settlement. Red Energy terms and conditions apply.