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Bank of Melbourne Home Loans

Compare a range of competitive home loans from Bank of Melbourne.

Richard Whitten
Richard Whitten

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Bank of Melbourne

On this page you can find information about Bank of Melbourne home loans. Skip ahead to the full table of products or read more about the lender.

Compare Bank of Melbourne home loans

Compare Bank of Melbourne home loan products below and hit "load more" to see a fuller selection of loans.

Rates last updated January 29th, 2020
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Loan purpose
Offset account
Loan type
Repayment type
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Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
Bank of Melbourne Basic Home Loan - LVR above 60% up to 80% (Owner Occupiers, P&I)
Bank of Melbourne Basic Home Loan - LVR above 60% up to 80% (Owner Occupiers, P&I)
2.99%
3.01%
$500 (waived for loans above $150,000)
$0 p.a.
80%
Online cashback offer: Refinancers borrowing $250,000 or more can get a $4,000 cashback for their first application (Other terms, conditions and exclusions apply). A low variable interest rate for home buyers and refinancers. Application fee waived for loans above $150,000.
Go to site More info
Bank of Melbourne Advantage Package Fixed Home Loan - 2 Year Fixed (Investors, P&I) LVR above 60% up to 80% New customers
Bank of Melbourne Advantage Package Fixed Home Loan - 2 Year Fixed (Investors, P&I) LVR above 60% up to 80% New customers
3.23%
4.29%
$0
$395 p.a.
80%
Enquire now More info
Bank of Melbourne Advantage Package Fixed Home Loan - 5 Year Fixed (Owner Occupier, P&I) LVR above 60% up to 80% New customers
Bank of Melbourne Advantage Package Fixed Home Loan - 5 Year Fixed (Owner Occupier, P&I) LVR above 60% up to 80% New customers
2.89%
3.64%
$0
$395 p.a.
80%
Get this 5 year fixed package loan and borrow up to 80% with no application fee. $2,000 cashback on eligible Advantage Package loans when borrowing $250,000 or more.
Enquire now More info

Compare up to 4 providers

Bank of Melbourne lender profile

  • Bank of Melbourne is a proudly Victorian-based bank with branches in Melbourne, Geelong and regional Victoria. Bank of Melbourne is part of a network including St.George and BankSA.
  • Bank of Melbourne offers bank accounts, credit cards, personal loans and other financial services.
  • As well as offering a range of financial products and services, the bank runs a charitable foundation to give back to local communities.

Bank of Melbourne mortgage features

Bank of Melbourne offers competitive mortgages for a range of needs.

FeatureDetails
Deposit sizeYou can borrow up to 95% with some Bank of Melbourne mortgages.
Package benefitsBank of Melbourne's Advantage Package home loans are package loans that allow you to combine a mortgage with a bank account and credit card.
Offset accountSome Bank of Melbourne loans, such as the Advantage Package home loan, come with a 100% offset account.

How do I apply for a Bank of Melbourne mortgage?

Clicking "Go to Site" on Bank of Melbourne's comparison table will start your application process and redirect you through to their website.

Eligibility

Each Bank of Melbourne product have specific eligibility criteria but some will apply to all products. For example:

  • Age. You must be over 18 years of age.
  • Residency. You should be a resident of Australia.
  • Employment. You should have a regular source of income.

Documents required

When you apply for a mortgage with Bank of Melbourne you are required to provide certain information so make sure you have all your documents ready before you apply. The documents you will be expected to provide are:

  • Identification documents. You will need identification such as a driver's license, passport or birth certificate.
  • Proof of income documents. Recent payslips can establish your income.
  • Asset and liability documents. You need to provide documents showing your current assets (savings accounts, investments) and liabilities (your outstanding debt).

Detailed guide to home loan applications and paperwork

Looking for more mortgage options?

Home Loan Offers

Important Information*
Logo for St.George Basic Home Loan - LVR 60% to 80% (Owner Occupier, P&I)
St.George Basic Home Loan - LVR 60% to 80% (Owner Occupier, P&I)

Online only cashback offer: Refinancers borrowing $250,000 or more can get a $4,000 cashback for their first application (Other terms, conditions and exclusions apply). Buyers and refinancers can get this competitive variable interest rate. Application fee waived for loans above $150,000.

More info
Logo for UBank UHomeLoan Variable Rate - Discount offer for Owner Occupiers, P&I Borrowing over $200,000
UBank UHomeLoan Variable Rate - Discount offer for Owner Occupiers, P&I Borrowing over $200,000

Take advantage of a low-fee mortgage with a special interest rate of just 2.84% p.a. and a 2.84% p.a. comparison rate.

More info
Logo for Suncorp Back to Basics Home Loan - Better Together Special Offer $150k+ LVR<=90% Incl. LMI (Owner Occupier, P&I)
Suncorp Back to Basics Home Loan - Better Together Special Offer $150k+ LVR<=90% Incl. LMI (Owner Occupier, P&I)

Get one free online redraw per month and pay no ongoing fees. Application fees are waived for loans above $150,000.

More info
Logo for loans.com.au Essentials - Variable (Owner Occupier, P&I)
loans.com.au Essentials - Variable (Owner Occupier, P&I)

A competitive interest rate home loan with interest only options. Interest rate 3.04% p.a.
comp rate of 3.06% p.a.

More info

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6 Responses

  1. Default Gravatar
    robertJanuary 24, 2019

    Hello, I’m on DSP receiving 1000 a fortnight what type of loans and how much might I try to get a loan for?

    Reply
    • Avatarfinder Customer Care
      JoshuaJanuary 29, 2019Staff

      Hi Robert,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      I understand you are trying to get a loan but you are on DSP. Typically, if you are receiving DSP, your options might be limited, but there are still lenders who might be able to meet your needs. As long as you are able to comply with their eligibility requirements and prove your ability to make repayments, you should be approved.

      To know more about how you can obtain a home loan while on DSP, please check this page. On that page, you’ll read more details about the types of home loans that might be available to you, how to compare home loans, and extra documentation for disability pensioners, to name a few.

      Moreover, please consider speaking to a mortgage broker who can help you explore your home loan options while taking into consideration your current situation.

      Finally, please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision. Check the eligibility requirements as well and consider whether the product is right for you.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

      Reply
  2. Default Gravatar
    JohnApril 11, 2014

    Dear Sir/Madam
    Hello

    RE; Unsecured personal loan for self employed .Try on line application get stuck for some reasons .
    Low doc application
    Hope to hear from you soon
    Best regards

    Reply
    • Avatarfinder Customer Care
      MarcApril 14, 2014Staff

      Hi John,
      thanks for the question.

      I’d recommend contacting Bank of Melbourne directly to work through this matter, as they’ll be able to help you through this application error.

      I hope this helps,
      Marc.

      Reply
  3. Default Gravatar
    GaryAugust 12, 2013

    Hi
    my wife and myself have fulltime jobs,just enquiring if it is possible to get 100% home loan.
    Regards,
    Gary.

    Reply
    • Avatarfinder Customer Care
      ShirleyAugust 12, 2013Staff

      Hi Gary,

      Thanks for your comment.

      At the moment, 100% home loans are only possible with a guarantor. Bank of Melbourne do offer guarantor loans.

      Hope this helps,
      Shirley

      Reply
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