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Rate Lock

Lock in an advertised Fixed Rate

Rate Lock enables you to secure the advertised rate on a Bank of Melbourne Fixed Rate Home Loan, up to 90 days before your new Fixed Rate Home Loan settles or the interest rate period on your current Bank of Melbourne Fixed Rate home loan ends. Once secured this rate is known as the 'locked rate'.1

This way, for a fee, you are protected from the possibility of rising interest rates. If the advertised rate for your chosen fixed rate period falls below your 'locked rate' on your settlement date, you'll be given the lower of the current advertised fixed rate and your 'locked rate'.

How to apply

When you apply for a home loan you can choose Rate Lock as a feature on all our Fixed Rate home loans.

If you're an existing home loan customer and you'd like to lock in a fixed rate, For more information, speak to one of our home loan experts on 13 22 66 or drop by a Bank of Melbourne branch.

The Detail


The information on our website is prepared without knowing your personal financial circumstances. Before you act on this general information, please consider if it's right for you. If you need help, call 13 22 66.

1. Rate lock requests are subject to our approval. Fees apply.