Bank of Melbourne
Variable Home Loan with Offset
Our full-featured variable rate loan, with an offset account and redraw.
Home loansBank updated 30 July 2026
At a glance
- Variable (owner occ. P&I)
- 6.39% · 6.77% comparison
- Variable (investor P&I)
- 6.59%
- Max LVR
- 95%
- Annual fee
- $395
- Features
- offset, redraw, extra repayments
§ 01 — Rates · 22
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| VariableThe rates include our 0.10% p.a. discount for LVRs+ up to 70%. Our Advantage Package gives you a 2.30% interest rate discount and other product savings, for an annual package fee. T&Cs apply. | Investment · Interest only | — | ≤70% LVR | 6.88% | 7.06% | — |
| VariableThe rates include our 0.10% p.a. discount for LVRs+ up to 70%. | Investment · Interest only | — | ≤70% LVR | 9.56% | 9.54% | — |
| VariableOur standard interest rate applies if you're borrowing above 70% and up to 80% of our property valuation. Our Advantage Package gives you a 2.30% interest rate discount and other product savings, for… | Investment · Interest only | — | 70–80% LVR | 6.98% | 7.16% | — |
| VariableOur standard interest rate applies if you're borrowing above 70% and up to 80% of our property valuation. | Investment · Interest only | — | 70–80% LVR | 9.66% | 9.64% | — |
| VariableAn extra 0.30% p.a. will be applied on top of our standard interest rate if you?re borrowing above 80% of our property valuation. Our Advantage Package gives you a 2.30% interest rate discount and ot… | Investment · Interest only | — | 80–90% LVR | 7.28% | 7.46% | — |
| VariableAn extra 0.30% p.a. will be applied on top of our standard interest rate if you?re borrowing above 80% of our property valuation. | Investment · Interest only | — | 80–90% LVR | 9.96% | 9.94% | — |
| VariableThe rates include our 0.10% p.a. discount for LVRs+ up to 70%. Our Advantage Package gives you a 2.30% interest rate discount and other product savings, for an annual package fee. T&Cs apply. | Investment · P&I | — | ≤70% LVR | 6.59% | 6.96% | — |
| VariableThe rates include our 0.10% p.a. discount for LVRs+ up to 70%. | Investment · P&I | — | ≤70% LVR | 9.27% | 9.41% | — |
| VariableOur standard interest rate applies if you're borrowing above 70% and up to 80% of our property valuation. Our Advantage Package gives you a 2.30% interest rate discount and other product savings, for… | Investment · P&I | — | 70–80% LVR | 6.69% | 7.06% | — |
| VariableOur standard interest rate applies if you're borrowing above 70% and up to 80% of our property valuation. | Investment · P&I | — | 70–80% LVR | 9.37% | 9.51% | — |
| VariableAn extra 0.30% p.a. will be applied on top of our standard interest rate if you?re borrowing above 80% of our property valuation. Our Advantage Package gives you a 2.30% interest rate discount and ot… | Investment · P&I | — | 80–95% LVR | 6.99% | 7.36% | — |
| VariableAn extra 0.30% p.a. will be applied on top of our standard interest rate if you?re borrowing above 80% of our property valuation. | Investment · P&I | — | 80–95% LVR | 9.67% | 9.81% | — |
| VariableThe rates include our 0.10% p.a. discount for LVRs+ up to 70%. Our Advantage Package gives you a 2.30% interest rate discount and other product savings, for an annual package fee. T&Cs apply. | Owner occupied · Interest only | — | ≤70% LVR | 6.98% | 7.00% | — |
| VariableThe rates include our 0.10% p.a. discount for LVRs+ up to 70%. | Owner occupied · Interest only | — | ≤70% LVR | 9.28% | 9.10% | — |
| VariableOur standard interest rate applies if you're borrowing above 70% and up to 80% of our property valuation. Our Advantage Package gives you a 2.30% interest rate discount and other product savings, for… | Owner occupied · Interest only | — | 70–80% LVR | 7.08% | 7.10% | — |
| VariableOur standard interest rate applies if you're borrowing above 70% and up to 80% of our property valuation. | Owner occupied · Interest only | — | 70–80% LVR | 9.38% | 9.20% | — |
| VariableThe rates include our 0.10% p.a. discount for LVRs+ up to 70%. Our Advantage Package gives you a 2.30 interest rate discount and other product savings, for an annual package fee. T&Cs apply. For Gove… | Owner occupied · P&I | — | ≤70% LVR | 6.39% | 6.77% | — |
| VariableThe rates include our 0.10% p.a. discount for LVRs+ up to 70%. For Government's home guarantee scheme-backed loans, maximum LVR may differ. | Owner occupied · P&I | — | ≤70% LVR | 8.69% | 8.83% | — |
| VariableOur standard interest rate applies if you're borrowing above 70% and up to 80% of our property valuation. Our Advantage Package gives you a 2.30% interest rate discount and other product savings, for… | Owner occupied · P&I | — | 70–80% LVR | 6.49% | 6.86% | — |
| VariableOur standard interest rate applies if you're borrowing above 70% and up to 80% of our property valuation. For Government's home guarantee scheme-backed loans, maximum LVR may differ. | Owner occupied · P&I | — | 70–80% LVR | 8.79% | 8.93% | — |
| VariableAn extra 0.30% p.a. will be applied on top of our standard interest rate if you?re borrowing above 80% of our property valuation. Our Advantage Package gives you a 2.30% interest rate discount and ot… | Owner occupied · P&I | — | 80–95% LVR | 6.79% | 7.16% | — |
| VariableAn extra 0.30% p.a. will be applied on top of our standard interest rate if you?re borrowing above 80% of our property valuation. For Government's home guarantee scheme-backed loans, maximum LVR may… | Owner occupied · P&I | — | 80–95% LVR | 9.09% | 9.23% | — |
§ 02 — Fees · 8
| Fee | Type | Amount | When | Notes |
|---|---|---|---|---|
| Document Processing Fee | Event | $100 | — | The Settlement Processing Fee, is a fee charged as apart of the fees for Loan Establishment. It is the fee charged for the processing of settlement services. These can include document validation, va… |
| Property Valuer Fee | Event | Varies | — | Fee may be payable if a valuation is needed. The amount is dependent on property location and value. |
| Loan Discharge Fee | Exit | $350 | — | Per Mortgage |
| Missed Payment Fee | Late payment | $15 | — | Fee payable when we send customer an arrears letter relating to an overdue amount |
| Annual Advantage Package Fee | Periodic | $395 | Every 1 yr | — |
| Loan Account Fee | Periodic | $8 | Every 1 mo | This fee is waived for Customers that have Premier Advantage Package (other fees apply) |
| Lenders Mortgage Insurance Premium | Upfront | Varies | — | If your deposit is less than 20% then Lenders Mortgage Insurance is usually required. There may be other circumstances where Lenders Mortgage Insurance is also required. As Lenders Mortgage Insurance… |
| Lending Establishment Fee | Upfront | $600 | — | This fee is waived for Customers that have Bank of Melbourne Advantage Package (other fees apply) |
§ 03 — Features
Offset accountRedrawExtra repaymentsGuarantor optionDigital bankingFraud protectionRelationship manager
- · Take a break from repayments: You can apply for Reduced Repayments or a Repayment Holiday for a set term (keep in mind after the break your repayments may be higher for the rest of your loan term).
- · Option to split your loan : Make part of your loan a fixed interest rate and part a variable interest rate.
- · Family Pledge : You could use the equity in a family member's home to guarantee part of your home loan
- · Option to Loan Split/Subsequent Loan Sequence
- · Building Loan Available feature
- · The product includes a combination loan feature.
- · The product provides options which includes reduced repayment, repayment holiday, portability and loan increase (top up) features
- · The product includes a Relocation Loan End Debt feature
- · The product includes Switching (from another product) feature
- · Loan Payment Method - Direct Credit, Direct Debit (preferred), Branch Payment, Internet or Phone Banking
- · Substituting a security : You may ask us to accept a new mortgage over other land as a substitute for any mortgage which is security for your loan. We may agree to this if you satisfy any reasonable…
- · Statements of account : We will send you a statement of your loan account at least every six months or more frequently if you request
§ 04 — Eligibility & limits
- · Minimum age 18
- · Residency: Should be an Australian or New Zealand citizen(s) or permanent resident(s)
- · Amount $10,000 to no maximum
- · Maximum LVR 95%
- · Individuals, Trusts (individual and company trustees), Company, Partnership
- · Maximum repayment term 30 years
- · Owner occupier - Loan maximum interest only period 5 years
- · Investment - Loan maximum interest only period 10 years
§ 05 — Compare
§ 06 — Run the numbers
Put this product through a calculator
Published by Bank of Melbourne under the Consumer Data Right, last changed by them on 30 July 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.