Unsecured Personal Overdraft

Proactively manage your cash flow. Be better prepared.

Anticipate your upcoming expenses and be better prepared for the unexpected.

Apply online and get a response in 60 seconds 1


Why choose our Unsecured Personal Overdraft?

  • Enjoy credit your way - know the money's there when you need it
  • Set up your direct debits knowing you'll be covered if you fall short
  • Continue using your transaction account as you normally would
  • Apply for a credit limit between $500 and $20,000.
  • Only pay interest on what you use
  • Access your extra funds up to an approved limit through your Complete Freedom or Express Freedom transaction account at any time
  • Repay as much as you want, at any time: no set repayment term, no expiry date.


  • Establishment Fee: $0
  • Monthly Administration Fee: $5

Other fees and charges may apply, please refer to our Personal Loan Fees and Charges.

Refer to the Bank of Melbourne Transaction, Savings and Investment Accounts – Fees and Charges and how to minimise them document for information on fees applicable to transactions on an Unsecured Personal Overdraft.


% p.a.*

Variable interest rate


How it works

The overdraft is a feature of your Complete Freedom or Express Freedom transaction account that allows you to access extra funds, up to an approved limit. You can continue to use your account as normal, withdrawing cash at ATMs, making purchases using your debit card, and honouring direct debits.

You only pay interest on what you use, and you can redraw as often as you need, up to your approved limit, helping you to be better prepared.


Get started in 3 easy steps

Step 1

Apply online

in 10 minutes (5 minutes for existing customers)

Step 2

Get a response

in 60 seconds1

Step 3

Access your funds online

Within 15 mins of approval1


Have you got questions about applying?


Apply online and get a response in 60 seconds 1


Other ways to apply

You can also apply over the phone or in branch.

Still not sure?

Use our helpful tools to compare our personal loans.

Important Information

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

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

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. Subject to systems availability

* Interest rate applicable to new loans approved on or after 22 November 2015.