Unsecured Personal Loan
Apply online and get a response in 60 seconds1
Why choose our Unsecured Personal Loan?
Whether you're taking control of your finances, planning a special event, or making a large purchase, our Unsecured Personal Loan may be the right solution. Plus, with the choice of a fixed or variable rate, you can tailor the loan to suit your needs.
- Borrow between $3,000 and $40,000
- No need to use your home, car or other assets as security
- Schedule repayments to suit your personal cash flow: weekly, fortnightly or monthly
- Choose your term: 1 to 7 years^ (up to 5 years for a fixed rate loan)
- Lock in your repayments with a fixed rate loan; or
- Have the ability to make extra repayments with a variable rate loan2
- Get it done today with our 10 minute online application1
Flexibility to make extra repayments
Set repayments for easier budgeting
Have you got questions about applying?
How to apply in 4 easy steps
in 10 minutes (5 minutes for existing customer)
Send through supporting documents
(if required) and we'll review your application.
Sign your contract
If approved you'll need to review and sign the contract.
Access your funds
We'll release your funds based on your instructions.
Apply online in 10 minutes and get a response in 60 seconds1
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.
Credit criteria, fees, charges, terms and conditions apply.
Before making a decision, it's best to read the terms and conditions.
The advice on our website is prepared without knowing your personal financial circumstances. Before you act on this or any advice, please consider if it's right for you. If you need help, call 13 22 66.
1. Actual completion time may vary depending on your internet connection and other factors. All applications are subject to Bank of Melbourne lending criteria.
2. A personal loan discharge processing fee applies when a personal loan is repaid before the end of the loan term. A fee of $150 applies if the loan is repaid within the first 12 months of the loan term. A fee of $100 applies if the loan is repaid after the first 12 months and before the end of the loan term.
3. The actual interest rate applicable to the loan will be based on the information you provide at the time of your application and our credit assessment. The rates available range from 10.99% p.a. to 19.99% p.a.
4. The comparison rate is based on an unsecured personal loan of $30,000 for a term of 5 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
5. Redraw requests are subject to approval. Minimum redraw amount $500 and a redraw fee applies for each approved request. Other fees and charges may be payable.
6. The establishment fee will be added to your loan amount.
^Unsecured personal loan repayment terms range from 1 to 7 years. Interest rate ranges and representative examples are: Based on an unsecured loan of $30,000 borrowed for 5 years with the minimum interest rate of 10.99% p.a. (11.88% p.a. comparison rate), the estimated total amount payable including fees is $39,922; and with the maximum interest rate of 19.99% p.a. (20.84% p.a. comparison rate), the estimated total amount payable including fees is $48,529. WARNING: This comparison rate applies only to the example or examples given and may not include all fees and charges. 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.