Bank of Melbourne Advantage Package Fixed Home Loan
Interest Rate Type
Comp Rate^ (p.a.)
Minimum Loan Amount
Maximum Loan Amount
Minimum Loan Term
Maximum Loan Term
Maximum Insured LVR
Mortgage Offset Account
Mortgage 100% Offset
Loan Redraw Facility
Split Loan Facility
Suitable for Investment
Available as equity loan/line of credit
Principal & Interest and Interest Only Options
Competitive fixed rates
Interest only rates available
There is a $395 annual package fee
There is a $350 discharge fee
There is a $100 settlement fee
What do I need to know about this loan?
This loan has a maximum insured LVR of up to 95%, but if your deposit is less than 20% of your property's value, you may need to pay a lenders mortgage insurance premium too.
What are the features and benefits of the Bank of Melbourne Advantage Package Fixed Home Loan?
Loan amount. You can borrow up to $1,000,000 with this loan depending on your rate type and loan purpose.
Purpose. This loan is for both home buyers and investors.
Package benefits. As a package loan, the Bank of Melbourne Advantage Package Fixed Loan requires you to take out a credit card and transaction account with the bank in exchange for a single package fee. It's a convenient way to combine your banking, but if you're not interested in the other package products, this might not be the loan for you.
The Bank of Melbourne Advantage Package Fixed Home Loan has few fees apart from the settlement, discharge and annual package fee.
Settlement fee: $100. Bank of Melbourne charges this fee to cover the initial set-up of a home loan.
Annual package fee (with offset account): $395. You can pay the annual package fee from a Bank of Melbourne transaction account (which is part of the package).
Discharge fee: $350. You pay a discharge fee when you end the home loan, either by repaying it or by refinancing to another lender.
How do I apply for this loan?
To apply for this product or to get more information, click the green "Go to site" button and leave your details on the Bank of Melbourne's website. A Bank of Melbourne lending specialist will get in touch with you to help you start the application process and answer all your questions.
Richard Whitten is Finder's senior home loans writer. He helps Australians understand the ins and outs of mortgages so they can find lower rates and make smarter property decisions. Richard trained as a high school English teacher at the University of Sydney, but found that mortgage management was more rewarding than classroom management. Before working at Finder he lived in Seoul, where he edited textbooks and ran communication courses for Korean corporations.
Bank of Melbourne Advantage Package Fixed Home Loan
App Fee / Annual Service Fee
How likely would you be to recommend finder to a friend or colleague?
Very UnlikelyExtremely Likely
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Important information about this website
finder.com.au is one of Australia's leading comparison websites. We compare from a wide set of major banks, insurers and product issuers.
finder.com.au has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product. You should consider whether the products featured on our site are appropriate for your needs and seek independent advice if you have any questions.
Products marked as 'Promoted' or "Advertisement" are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options and find the best option for you.
The identification of a group of products, as 'Top' or 'Best' is a reflection of user preferences based on current website data. On a regular basis, analytics drive the creation of a list of popular products. Where these products are grouped, they appear in no particular order.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment.
We try to take an open and transparent approach and provide a broad based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.