IMB Bank
Budget Home Loan
A low cost home loan option, the Budget Home Loan has a discount off IMB’s standard variable rate for the life of the loan, so you’ll always pay less. No monthly fees, unrestricted additional repayments and free Internet and Mobile Banking redraw
Home loansBank updated 22 Sept 2026
At a glance
- Variable (owner occ. P&I)
- 5.99% · 6.02% comparison
- Variable (investor P&I)
- 6.24%
- Max LVR
- 90%
- Features
- redraw, extra repayments
§ 01 — Rates · 13
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| VariableInterest rates are based on criteria that includes purpose (owner occupier or investment), repayment type (principal and interest (P&I) or interest only) and loan to value ratio (LVR). Different inte… | Investment · Interest only | — | 1–80% LVR | 6.54% | 6.44% | — |
| VariableInterest rates are based on criteria that includes purpose (owner occupier or investment), repayment type (principal and interest (P&I) or interest only) and loan to value ratio (LVR). Different inte… | Investment · Interest only | — | 81–90% LVR | 6.64% | 6.54% | — |
| VariableInterest rates are based on criteria that includes purpose (owner occupier or investment), repayment type (principal and interest (P&I) or interest only) and loan to value ratio (LVR). Different inte… | Investment · Interest only | — | 91–95% LVR | 7.39% | 7.29% | — |
| VariableInterest rates are based on criteria that includes purpose (owner occupier or investment), repayment type (principal and interest (P&I) or interest only) and loan to value ratio (LVR). Different inte… | Investment · P&I | — | 1–80% LVR | 6.24% | 6.30% | — |
| VariableInterest rates are based on criteria that includes purpose (owner occupier or investment), repayment type (principal and interest (P&I) or interest only) and loan to value ratio (LVR). Different inte… | Investment · P&I | — | 81–90% LVR | 6.34% | 6.40% | — |
| VariableInterest rates are based on criteria that includes purpose (owner occupier or investment), repayment type (principal and interest (P&I) or interest only) and loan to value ratio (LVR). Different inte… | Investment · P&I | — | 91–95% LVR | 7.09% | 7.15% | — |
| VariableInterest rates are based on criteria that includes purpose (owner occupier or investment), repayment type (principal and interest (P&I) or interest only) and loan to value ratio (LVR). Different inte… | Owner occupied · Interest only | — | 1–70% LVR | 6.29% | 6.18% | — |
| VariableInterest rates are based on criteria that includes purpose (owner occupier or investment), repayment type (principal and interest (P&I) or interest only) and loan to value ratio (LVR). Different inte… | Owner occupied · Interest only | — | 71–80% LVR | 6.34% | 6.23% | — |
| VariableInterest rates are based on criteria that includes purpose (owner occupier or investment), repayment type (principal and interest (P&I) or interest only) and loan to value ratio (LVR). Different inte… | Owner occupied · Interest only | — | 81–90% LVR | 6.59% | 6.49% | — |
| VariableInterest rates are based on criteria that includes purpose (owner occupier or investment), repayment type (principal and interest (P&I) or interest only) and loan to value ratio (LVR). Different inte… | Owner occupied · P&I | — | 1–70% LVR | 5.99% | 6.02% | — |
| VariableInterest rates are based on criteria that includes purpose (owner occupier or investment), repayment type (principal and interest (P&I) or interest only) and loan to value ratio (LVR). Different inte… | Owner occupied · P&I | — | 71–80% LVR | 6.04% | 6.07% | — |
| VariableInterest rates are based on criteria that includes purpose (owner occupier or investment), repayment type (principal and interest (P&I) or interest only) and loan to value ratio (LVR). Different inte… | Owner occupied · P&I | — | 81–90% LVR | 6.29% | 6.35% | — |
| VariableInterest rates are based on criteria that includes purpose (owner occupier or investment), repayment type (principal and interest (P&I) or interest only) and loan to value ratio (LVR). Different inte… | Owner occupied · P&I | — | 91–95% LVR | 6.64% | 6.70% | — |
§ 02 — Fees · 17
| Fee | Type | Amount | When | Notes |
|---|---|---|---|---|
| Amendment Fee | Event | $150 | — | Payable when contract documentation is re-issued due to a change requested by a borrower. |
| Consent Fee | Event | $300 | — | Payable each time we are asked to consent to a request that affects the security property (e.g. a subsequent mortgage, lease, subdivision or transfer). |
| Default Fee | Event | $50 | — | Payable when a loan is in default because amounts due have not been paid on time. |
| Partial Discharge Processing Fee | Event | $300 | — | Payable when we are asked to release a security property from a loan which has more than one security property. This fee covers the processing of this request and is payable in addition to the Discha… |
| PEXA Transaction Service Fee | Event | No fee | — | Payable to the Property Exchange Australia for electronic lodgement of any transaction on title after settlement, including lodgement or discharge of mortgage or caveat. |
| Portable Loan Fee | Event | $600 | — | Payable when we are asked to replace an existing security property with a new security property. |
| Redraw Fee (free via internet and mobile banking) | Event | $50 | — | Redraws are FREE via internet banking, otherwise a fee applies |
| Discharge Fee | Exit | $350 | — | Payable each time we release and discharge a security property. |
| Construction Loan Fee | Upfront per plan | $300 | — | Payable for the processing of progress payment requests on a construction loan, including any valuer progress inspection reports we may require. |
| Additional Loan Application Fee/Top-up Fee | Upfront | $449 | — | Payable for an application for an additional loan with no new security. |
| Additional Mortgage Processing Fee | Upfront | $150 | — | Payable for each additional new security property and added to the Mortgage Processing Fee. |
| Additional Valuation Fee | Upfront | No fee | — | If the loan is to be against more than one security, additional valuation costs will be collected at settlement. |
| Guarantor Fee | Upfront | $100 | — | Payable for the preparation and processing of guarantee documentation when a loan includes a guarantor/s. |
| Loan Application Fee | Upfront | $449 | — | Application fee includes one valuation. Valuation costs over & above single/primary security are to be covered by the borrower. Other fees and charges may apply. |
| Mortgage Processing Fee | Upfront | $350 | — | — |
| Split Loan Fee | Upfront | $100 | — | Payable to IMB if a loan is split into more than one account. |
| Switching Fee | Variation | $300 | — | Payable when we process a request to change to an interest rate type, product type or repayment type, including extending an interest only period and at the end of a fixed rate term. |
§ 03 — Features
RedrawExtra repaymentsGuarantor optionDigital bankingFraud protection
- · Direct Credit is available on this account type.
- · Receive Electronic Funds Transfers (EFT) to this account type.
- · IMB boasts an extensive branch network throughout the Illawarra, Sydney, NSW South Coast, the ACT and Melbourne.
- · IMB consultants are available Monday to Friday 8am - 8pm and Saturday 9am - 4pm
- · Receive only
- · Split loan available.
- · IMB's Phone Banking Service gives you 24 hour access to your accounts from any touchphone.
§ 04 — Eligibility & limits
- · Minimum age 18
- · Residency: Borrowers must be Australian Citizens or permanent residents.
- · Available to individuals
- · Amount $10,000 to no maximum
- · Maximum LVR 90%
- · Lending Criteria apply
- · For new funds only. Not available as a switch or re-finance from another IMB home loan
§ 06 — Run the numbers
Put this product through a calculator
Published by IMB Bank under the Consumer Data Right, last changed by them on 22 Sept 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.