Our unsecured loan offering to meet your requirement for car, renovation, consolidation of debt or something else.
Category: Personal Loans Last Updated October 31, 2024 Effective November 1, 2024
General Lending Rates
Rates listed below are for a VARIABLE product. Additional Information 1-7 years of flexible loan term
Interest Rate 7.49% PA
Comparison Rate 8.54%PA*
Product rates will vary depending upon your financial position< LVR, and other criteria. The product may also vary depending upon the rate type, repayment type, or loan purpose. We encourage you to contact us for a full understanding of the product and terms.
Product Variations
Product rates and conditions will usually vary based on the LVR and other conditions..
2000 to 50000
Minimum: $2000.00 Maximum: $50000.00
12 to 84 MONTH
Minimum: 12 MONTH Maximum: 84 MONTH
Lending Rate Type: Variable
Interest Rate: 20.59%, Comparison Rate 21.59%
Repayment Type:
Loan Purpose:
Product Features
OtherAdditional Information: Set an end-date for your loan : Every repayment reduces what you owe and gets you closer to paying off your loan.
OtherAdditional Information: Flexible loan repayments : Choose a loan term of 1-7 years to suit your circumstances and make weekly, fortnightly or monthly repayments.
OtherAdditional Information: Borrow without an asset as security : With an unsecured personal loan, you don't have to offer your car as security for your loan.
Digital BankingAdditional Information: Internet banking access : Viewing and tracking your loan is convenient ? it's all in the one place on the mobile banking app
RedrawAdditional Information: Redraw facility on variable rate loans : Redraw money from the amount you've repaid if you need to, provided you're at least $500 ahead on your repayments. Each request is subject to approval.
Extra RepaymentsAdditional Information: The product has EXTRA_REPAYMENTS option available.
Fraud ProtectionAdditional Information: The product includes FRAUD_PROTECTION features.
Relationship ManagementAdditional Information: RELATIONSHIP_MANAGEMENT is available for eligible customers.
OtherAdditional Information: Internet and Phone banking : Includes the Security, Stopping or altering payments, Scheduled transactions and payments , Other transactions and payments, Faults and service difficulties
Product Eligibility
Min Age - 18. Additional Information: Should be aged 18 years or over
Residency Status - You Have Permanent Residency In Australia/nz Or You're A Non-resident Or Migrant And Hold An Acceptable Visa, With A Minimum 1 Year Before Expiry.
OtherAdditional Information: You have a fixed, verifiable residential address in Australia.
OtherAdditional Information: You have a regular, verifiable Australian taxable income
Bank Fees and Charges
Lending Establishment Fee (Upfront), Amount: 250.00. Additional Information: Lending establishment fee�will be deducted from your loan amount. Please read full terms and conditions & fees and charges before making a decision to apply for a Bank of Melbourne Personal Loan.�
Loan Discharge Fee - Within 12 Months (Exit), Amount: 150.00. Additional Information: Loan discharge fee if you fully repay the loan within the first 12 months
Loan Discharge Fee - After 12 Months (Exit), Amount: 100.00. Additional Information: Loan discharge fees if you fully repay the loan after the first 12 months and before the end of the loan term
Redraw Fee (Event), Amount: 0.00.
Missed Payment Fee (Event), Amount: 15.00. Additional Information: Payable when we send you an arrears letter relating to an overdue amount.
Processing Fee (Transaction), Amount: 3.00. Additional Information: Payable each time you make any repayment on your loan over the counter in a branch or by cash or cheque