Bank of Melbourne
Secured Fixed Personal Loan
Our secured loan offering to provide you with lower interest rates with your car as a security for the loan
Personal loansBank updated 5 Aug 2026
At a glance
- Fixed
- 6.49% · 7.90% comparison
- Loan size
- $10,000 to $130,000
- Upfront fee
- $250
- Monthly fee
- $15
§ 01 — Rates · 2
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| Fixed1-7 years of flexible loan term | P&I | 5 yrs fixed | — | 6.49% | 7.90% | Not relevant to product |
| FixedMaximum Interest rate charged for the product. 1-7 years of flexible loan term. | P&I | 7 yrs fixed | — | 12.99% | 14.34% | Not relevant to product |
§ 02 — Fees · 8
| Fee | Type | Amount | When | Notes |
|---|---|---|---|---|
| Bank Cheque Fee | Event | $10 | — | — |
| PPSR fee | Event | $6 | — | — |
| Loan Discharge Fee - After 12 Months | Exit | $100 | — | — |
| Loan Discharge Fee - Within 12 Months | Exit | $150 | — | — |
| Missed Payment Fee | Late payment | $15 | — | — |
| Monthly Loan Account Fee | Periodic | $15 | Every 1 mo | — |
| Processing Fee | Transaction | $3 | — | Payable each time you make any repayment on your loan over the counter in a branch or by cash or cheque |
| Lending Establishment Fee | Upfront | $250 | — | — |
§ 03 — Features
Extra repaymentsDigital bankingFraud protectionRelationship manager
- · Various Loan Purposes - Our Secured Personal Loan can be used for a variety of other purposes by offering an eligible car as security for the loan.
- · Flexible repayment options. Choose weekly or fortnightly to save on interest
- · Borrow between $10K - $130K - Choose a loan amount to suit your needs.
- · Help to cover the extras - You may be able to borrow a little more to cover other expenses, such as insurance, registration and optional extras.
- · Internet and Phone banking : Includes the Security, Stopping or altering payments, Scheduled transactions and payments , Other transactions and payments, Faults and service difficulties
§ 04 — Eligibility & limits
- · Minimum age 18
- · Residency: Be an Australian or New Zealand citizen or an Australian permanent resident and hold an acceptable visa
- · Amount $10,000 to $130,000
- · Be a non-resident or migrant and hold an�acceptable visa with a minimum 1 year before expiry
- · Have a fixed, verifiable Australian address
- · Receive a regular, verifiable Australian taxable income
- · To qualify for a lower personalised interest rate on a Secured Personal Loan, applicant must meet our credit criteria.
- · Your car's eligibility, see link
- · 1-7 years of flexible loan term
§ 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 5 Aug 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.