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What we ask:

A few questions about you – your income and expenses.

What you get:

An estimate of your borrowing potential with a Bank of Melbourne Unsecured Personal Loan and a calculation of what your repayments would be - weekly, fortnightly, monthly and annually.



We consider anyone under 18 who is living with you as a dependent.



Additional income may include overtime, bonuses, rent, pension, family allowances, share dividends, investment interest or other income streams.



Additional expenses include rent, mortgage, credit card and other loan repayments as well as any other expenses you may share.

Additional expenses include rent, mortgage, credit card and other loan repayments as well as any other expenses you may share.

How to apply

The Detail

Credit criteria, fees, charges, terms and conditions apply.

We are only providing you with factual information and not any advice. It is your decision whether this product is right for you. Please read the Personal Loans Terms and Conditions, Loan Account Fees and Charges and Internet and Phone Banking Terms and Conditions before deciding. If you need help, call 13 22 66.

Personal Loan Borrowing Power Calculator disclaimer and assumptions

1. The output of this calculator is subject to the calculator assumptions set out below and is subject to change. Any calculation made by you using this Borrowing Power calculator is intended as a guide only.  It is for illustrative purposes only and is based on the accuracy of the information provided.  The calculator does not take establishment fees, stamp duty or other government charges into account.  The calculation does not constitute an offer of finance from Bank of Melbourne. Your borrowing power amount may be different when you complete a loan application and all the details relevant to our lending criteria are captured and verified. The calculations should not be relied on for the purpose of making a decision whether to apply for a personal loan.

For unsecured personal loans please note personalised pricing means your loan interest rate may vary depending on our credit assessment and the detail you provide us in your application. As a result, the interest rate we offer you may vary from the interest rate represented on this page and will be presented to you on your loan offer contract.

Personal Loan Borrowing Power Calculator assumptions

Length of month
All months are assumed to be of equal length. In reality, many loans accrue on a daily basis leading to a varying number of days' interest dependent on the number of days in the particular month.

Number of weeks & fortnights in a year
One year is assumed to contain exactly 52 weeks or 26 fortnights. This implicitly assumes that a year has 364 days rather than the actual 365 or 366.

Rounding of amount of each repayment

In practice, repayments are rounded to at least the nearer cent. However the calculator uses the unrounded repayment to derive the amount of interest payable at points along the graph and in total over the full term of the loan. This assumption allows for a smooth graph and equal repayment amounts.

Interest Rate
The interest rates represented on this page are Bank of Melbourne’s standard interest rates and exclude any package or promotional discounts and are subject to change. Please note for relevant that our personalised pricing means your unsecured personal loan interest rate may vary from the interest rate represented on this page.

2. Comparison rates help you understand the true cost of a loan. The comparison rate is based on a Personal Loan with a loan amount of $30,000 and a term of 5 years. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan..

3. For the purposes of the Secured Loan, any motor vehicle offered as security must not be more than 12 years old upon loan expiry.

Unless otherwise specified, the products and services described on this website are available only in Australia from Bank of Melbourne - A Division of Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714