RBA Cash Rate: 4.35% · 1AUD = 0.67 USD · Inflation: 4.1%  
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Example Interest Rates: Home Loan Variable: 5.69% (5.89%*) • Home Loan Fixed: 5.39% (6.59%*) • Fixed: 5.39% (6.59%*) • Variable: 5.69% (5.89%*) • Investment IO: 5.69% (6.48%*) • Investment PI: 5.39% (6.59%*)

  Unsecured Variable Personal Loan

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

  • Other Additional Information: Set an end-date for your loan : Every repayment reduces what you owe and gets you closer to paying off your loan.
  • Other Additional Information: Flexible loan repayments : Choose a loan term of 1-7 years to suit your circumstances and make weekly, fortnightly or monthly repayments.
  • Other Additional 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 Banking Additional Information: Internet banking access : Viewing and tracking your loan is convenient ? it's all in the one place on the mobile banking app
  • Redraw Additional 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 Repayments Additional Information: The product has EXTRA_REPAYMENTS option available.
  • Fraud Protection Additional Information: The product includes FRAUD_PROTECTION features.
  • Relationship Management Additional Information: RELATIONSHIP_MANAGEMENT is available for eligible customers.
  • Other Additional 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.
  • Other Additional Information: You have a fixed, verifiable residential address in Australia.
  • Other Additional 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.�
  • Monthly Loan Account Fee (Periodic), Amount: 12.00.
  • 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

 Limitations & Restrictions (Constraints)

  • Min Limit of 2000.00
  • Max Limit of 50000.00

 Document Downloads

■ ■ ■

 
Download our complimentary 650-page guide on marketing for mortgage brokers. We'll show you exactly how we generate billions in volume for our clients.
Finance Guide, Cropped Top and Bottom
  Timezone: 1 · [ CHANGE ]

■ ■ ■

 
Download our complimentary 650-page guide on marketing for mortgage brokers. We'll show you exactly how we generate billions in volume for our clients.
Finance Guide, Cropped Top and Bottom
  Timezone: 1 · [ CHANGE ]

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