Bank of Melbourne is an Australian financial institution that was founded in 1989 and acquired by Westpac in 1997. After being rebranded as Westpac branches in 2004, the Bank of Melbourne name was restored in 2011.
Bank of Melbourne has its headquarters and call centre in Melbourne, with over 100 branches through Victoria and employs over 900 staff. The bank offers a range of financial services and products that include personal and home loans, credit cards, insurance and investment and superannuation planning and management.
The bank has won numerous awards, including the Financial Review Smart Investor’s Best Local Bank in 2015.
Bank of Melbourne home loan calculator
Interested in an Bank of Melbourne home loan? RateCity has a suite of calculators that can show you what your repayments would be and how Bank of Melbroune compares to its competitors. Simply plug in your borrowing amount below.
- Lots of repayment flexibility.
- Specialised and construction loans available.
- Suits customers with small deposits.
- Relatively high comparison rates.
- Branch access limited to Victoria.
Home loan customers at Bank of Melbourne can contact the bank through a dedicated personal banking phone line. There are also lines for phone banking, business banking and a customer solutions line for those experiencing financial hardship. Customers can choose to live chat with Bank of Melbourne employees online, contact them via email, visit in person at their Victorian branches or book an appointment through the website.
- Customer service centre (phone)
- Mobile app
- Online banking
- Live Chat
- Mobile banking staff
Bank of Melbourne Home Loan Calculator
Cash Out Amount
Remaining loan term:
26 years and 8 months
Savings over 10 years
Savings Over Years
Estimated upfront fees
Go To Site
Savings Over Years$30kSavings over 10 years
Savings Over Years$20.5kSavings over 10 years
Savings Over Years$14.2kSavings over 10 years
Advertised rate3.94%Fixed - 3 years
Savings Over Years$26.6kSavings over 10 years
Savings Over Years$13kSavings over 10 years
Advertised rate4.29%Fixed - 5 years
Savings Over Years$18.1kSavings over 10 years
Bank of Melbourne Home Loans
Bank of Melbourne Basic Loan InvestorVariableRefinancer
The Bank of Melbourne’s Basic Loan is a standard variable rate home loan, offered at a competitively low interest rate.
How to Apply
Bank of Melbourne allows customers to apply for a home loan in a variety of ways. Customers can also make online or email enquries before applying for a loan and can then apply online, by phone, or in-person at Bank of Melbourne branches. Before applying for a home loan it is advisable to think about how much money you could conceivably borrow given your financial situation and income. You will also need to provide documentation when applying for a home loan. This may include:
- Personal identification.
- Proof of employment and earnings.
- Details of your savings history and accounts.
- Information on other loans, debts and expenses.
Refinancers will also need to provide statements on the existing loan for the last six months and those with a construction loan will need to provide council approved plans, building quotes and proof of sale.