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IMB Budget Home Loan

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Save on your home loan without compromising on the features you need with the IMB Budget Home Loan.

The IMB Budget Home Loan offers simplicity, a competitive rate and features such as a life-of-loan discount, unrestricted repayments, flexibility in repayments and free withdrawals.

If the Budget Home Loan isn’t right for you, IMB offers other variable home loan options such as the Essentials Home loan, the Introductory Variable Home Loan, the Discount Split Home Loan and Standard Variable Home Loans. There are also the Fixed Home Loan and Platinum Package loans.

Eligibility conditions for the special offer

Please note that in order to be eligible for the special rate, you must be an owner occupier and make principal and interest repayments. You also must open an IMB Transaction Account.

No Establishment fee

There is no establishment fee for the Special LVR <=90% (Owner Occupier and Principal & Interest only) loan. Fees may apply to other loans.

Interest Rate Max Insured LVR Max LVR
LVR ≤80% (Owner Occupier, IO, NSW and ACT borrowers only)
2.98% p.a.
Comparison Rate
2.86% p.a.
80% 80%
LVR ≤80% (Owner Occupier, P&I, NSW and ACT borrowers only)
2.61% p.a.
Comparison Rate
2.67% p.a.
80% 80%
LVR ≤90% (Owner Occupier,IO, NSW and ACT borrowers only)
3.08% p.a.
Comparison Rate
2.96% p.a.
90% 80%
LVR ≤90% LVR (Investor, IO, NSW and ACT borrowers only)
3.38% p.a.
Comparison Rate
3.26% p.a.
90% 80%
LVR ≤90% LVR (Investor, P&I, NSW and ACT borrowers only)
3.08% p.a.
Comparison Rate
3.14% p.a.
90% 80%
Special LVR ≤90% (Owner Occupier, P&I, NSW and ACT borrowers only)
2.78% p.a.
Comparison Rate
2.84% p.a.
90% 80%
Product NameIMB Budget Home Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$75,000
Minimum Loan Term1 year
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR90%
Mortgage Offset AccountNo
Mortgage 100% OffsetNo
Loan Redraw FacilityYes
Split Loan FacilityYes
Loan PortableYes
Suitable for InvestmentNo
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypeInterest Only

Application Fee$449
Ongoing Fees$0 p.a.
Settlement Fee$350
Discharge Fee$350


  • Enjoy a discounted interest rate for staying below 80% of the property value
  • Make extra payments at any time
  • Withdraw excess funds from the mortgage via the redraw facility


  • There is a $449 application fee
  • No offset account for this product

Details to consider about the IMB Budget Home Loan.

This home loan is available to owner occupiers.

Features of the IMB Budget Home Loan

  • Minimum loan amount. The minimum loan amount is $75,000.
  • Loan period. The maximum loan term for the IMB Budget Home Loan is 30 years.
  • Life of loan discount. With the IMB Budget Home Loan you will receive a discount off the standard variable interest rate for the life of the loan.
  • Repayments. This home loan allows you to make weekly, fortnightly or monthly repayments, and you can also make unrestricted additional repayments to assist you in paying off your loan quicker and saving on interest.
  • Redraw facility. The Budget Home Loan also allows you to make redraws so you can access the additional repayments you make. You can redraw for free via internet or mobile banking for further convenience.
  • Split loan. Split loans are also available with the Budget Home Loan, allowing you to split the loan between variable and fixed rates.
  • Loan repayment insurance. For further security, you can also choose to take out loan repayment insurance.

What fees and charges come with this loan?

  • Mortgage processing fee: $350 This fee is charged for processing your home loan.
  • Monthly account service fees: $0 per month.
  • Redraw fee: $0. Redraws that are made through internet or mobile banking are free of charge and ones that are processed in branch attract a $50 fee.
  • Discharge fee: $220. This fee applies to all IMB variable rate home loans.
  • Split loan fee: $100. IMB charge this fee every time you split your loan.

How to apply for the IMB Budget Home Loan

If the IMB Budget Home Loan sounds like it could be the home loan for you, then all you need to do is click ‘Go to Site’ and begin your application process.

Before you apply, there are some eligibility requirements you must meet:

  • Be at least 18 years old. To be eligible for this loan, you must be 18 years of age or older.
  • Be a permanent Australian resident. You also need to be an Australian resident and must be able to prove this.
  • You can’t have declared bankruptcy or had any legal proceedings against you in the collection of debt. Applicants must declare this up front.
  • For new funds only. You can’t get a Budget Home Loan from IMB if you’re refinancing from another home loan with IMB.

If you meet the above eligibilities, you are now ready to begin your application. Make sure you have the following information and documentation ready:

  • Contact details. This includes your name and contact information.
  • Proof of identity. A driver’s license or passport will be required in addition to more information.
  • Employment details. This will generally include the name of your employer and confirmation of your income.
  • Membership details. If you are already a member of IMB you’ll be required to enter in your member details.
  • Financial details. This includes details of your assets, debts and open credit accounts.

If you’re interested in the IMB Budget Home Loan add it to your comparison today.

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4 Responses

  1. Default Gravatar
    CodyOctober 14, 2019

    I am wondering if mortgage insurance fee varies between lenders, and if so which lenders have the least fees for a mortgage with LVR of 90%.

    • Default Gravatar
      NikkiOctober 15, 2019

      Hi Cody,

      Thanks for your comment. Yes, mortgage fees are variable among lenders. You can find and compare home loan providers on our Home Loan Finder page. On the page, You will find a table that compares the features and benefits of each home loan provider such as max loan rate, interest and etc. This way it will be easier for you to see which provider fits you best. If you need further help, a quick guide on how to compare home loans is also stated on the page. You can also click the compare box beside each loan option and compare up to 4 options side by side for easier comparison.

      As a friendly reminder, carefully review the eligibility criteria of the loan before applying to increase your chances of approval. Read up on the terms and conditions and product disclosure statement and contact the bank should you need any clarifications about the policy.


  2. Default Gravatar
    marjiejOctober 23, 2015

    We have put a deposit down on a home. Both my husband and I are on the pension. He is 72 and I am 61. The property is $177,500. We have savings 90,000. Would put down $82,000. Would we get a loan of$95,000?

    • Avatarfinder Customer Care
      MarcOctober 26, 2015Staff

      Hi Marjiej,
      thanks for the question.

      Unfortunately, because we’re a comparison service and do not offer loans ourselves, we can’t for certain say whether or not IMB will approve this loan. You might want to contact them directly, which you can do by clicking the ‘Go to Site’ button on this page.

      I hope this helps,

IMB Budget Home Loan

  • Interest Rate


  • Comparison Rate


  • App Fee / Annual Service Fee

    $449 / $0

  • Max LVR


Go to site