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Bank of Melbourne is an Australian bank that is based in Victoria. With headquarters in Melbourne, the bank has 106 branches spread across the state.

Although Bank of Melbourne was established in 1989 as an independent organisation, it has been part of the Westpac Group since 1997.

Bank of Melbourne, or BoM as they are also known, also a wide range of home loans, both through its branch network and through mortgage brokers.

Bank of Melbourne home loans

Basic Home Loan (Principal and Interest) (New Customer)SpecialEstablishment fee waived when borrowing <$150k
Advertised rate
3.64%
Variable
Upfront fee
$264.00
Comparison rate*
3.65%
Ongoing fee
$0
Compare
Basic Investment Loan (Principal and Interest) (New Customer)SpecialEstablishment fee waived when borrowing <$150k
Advertised rate
4.19%
Variable
Upfront fee
$264.00
Comparison rate*
4.20%
Ongoing fee
$0
Compare
Advantage Package Variable Home Loan (Principal and Interest) (New Customer) ($250k-$500k)SpecialRefinance to an Advantage Package Home Loan and get complimentary electricity charges capped at $3,000 or 12 months, whichever is sooner. For Victorian residents with Owner Occupied, Principal and Interest repayments only. Min loan $250k. Offer ends 31 August 2018.
Advertised rate
4.45%
Variable
Upfront fee
$0
Comparison rate*
4.85%
Ongoing fee
$395 annually
Compare
Advantage Package Fixed Rate Home Loan (Principal and Interest) (New Loans) 3 Years SpecialRefinance to an Advantage Package Home Loan and get complimentary electricity charges capped at $3,000 or 12 months, whichever is sooner. For Victorian residents with Owner Occupied, Principal and Interest repayments only. Min loan $250k. Offer ends 31 August 2018.
Advertised rate
3.85%
Fixed - 3 years
Upfront fee
$0
Comparison rate*
4.87%
Ongoing fee
$395 annually
Compare
Advantage Package Fixed Rate Home Loan (Principal and Interest) 3 YearsSpecialRefinance to an Advantage Package Home Loan and get complimentary electricity charges capped at $3,000 or 12 months, whichever is sooner. For Victorian residents with Owner Occupied, Principal and Interest repayments only. Min loan $250k. Offer ends 31 August 2018.
Advertised rate
3.99%
Fixed - 3 years
Upfront fee
$0
Comparison rate*
4.90%
Ongoing fee
$395 annually
Compare
Advantage Package Variable Home Loan (Principal and Interest) ($250k+)SpecialRefinance to an Advantage Package Home Loan and get complimentary electricity charges capped at $3,000 or 12 months, whichever is sooner. For Victorian residents with Owner Occupied, Principal and Interest repayments only. Min loan $250k. Offer ends 31 August 2018.
Advertised rate
4.50%
Variable
Upfront fee
$0
Comparison rate*
4.90%
Ongoing fee
$395 annually
Compare
Advantage Package Fixed Rate Home Loan (Principal and Interest) (New Loans) 2 Years SpecialRefinance to an Advantage Package Home Loan and get complimentary electricity charges capped at $3,000 or 12 months, whichever is sooner. For Victorian residents with Owner Occupied, Principal and Interest repayments only. Min loan $250k. Offer ends 31 August 2018.
Advertised rate
3.85%
Fixed - 2 years
Upfront fee
$0
Comparison rate*
4.94%
Ongoing fee
$395 annually
Compare
Advantage Package Fixed Rate Home Loan (Principal and Interest) 2 YearsSpecialRefinance to an Advantage Package Home Loan and get complimentary electricity charges capped at $3,000 or 12 months, whichever is sooner. For Victorian residents with Owner Occupied, Principal and Interest repayments only. Min loan $250k. Offer ends 31 August 2018.
Advertised rate
3.89%
Fixed - 2 years
Upfront fee
$0
Comparison rate*
4.94%
Ongoing fee
$395 annually
Compare
Advantage Package Fixed Rate Home Loan (Principal and Interest) 5 YearsSpecialRefinance to an Advantage Package Home Loan and get complimentary electricity charges capped at $3,000 or 12 months, whichever is sooner. For Victorian residents with Owner Occupied, Principal and Interest repayments only. Min loan $250k. Offer ends 31 August 2018.
Advertised rate
4.39%
Fixed - 5 years
Upfront fee
$0
Comparison rate*
4.96%
Ongoing fee
$395 annually
Compare
Advantage Package Fixed Rate Home Loan (Principal and Interest) 4 YearsSpecialRefinance to an Advantage Package Home Loan and get complimentary electricity charges capped at $3,000 or 12 months, whichever is sooner. For Victorian residents with Owner Occupied, Principal and Interest repayments only. Min loan $250k. Offer ends 31 August 2018.
Advertised rate
4.39%
Fixed - 4 years
Upfront fee
$0
Comparison rate*
4.99%
Ongoing fee
$395 annually
Compare
Advantage Package Fixed Rate Home Loan (Principal and Interest) 1 YearSpecialRefinance to an Advantage Package Home Loan and get complimentary electricity charges capped at $3,000 or 12 months, whichever is sooner. For Victorian residents with Owner Occupied, Principal and Interest repayments only. Min loan $250k. Offer ends 31 August 2018.
Advertised rate
4.09%
Fixed - 1 year
Upfront fee
$0
Comparison rate*
5.03%
Ongoing fee
$395 annually
Compare
Fixed Rate Home Loan (Principal and Interest) 3 Years
Advertised rate
4.14%
Fixed - 3 years
Upfront fee
$864.00
Comparison rate*
5.08%
Ongoing fee
$10 monthly
Compare
Fixed Rate Home Loan (Principal and Interest) 2 Years
Advertised rate
4.04%
Fixed - 2 years
Upfront fee
$864.00
Comparison rate*
5.15%
Ongoing fee
$10 monthly
Compare
Fixed Rate Home Loan (Principal and Interest) 1 Year
Advertised rate
4.24%
Fixed - 1 year
Upfront fee
$864.00
Comparison rate*
5.27%
Ongoing fee
$10 monthly
Compare
Advantage Package Fixed Rate Investment Loan (Principal and Interest) (New Loans) 3 Years
Advertised rate
4.19%
Fixed - 3 years
Upfront fee
$0
Comparison rate*
5.37%
Ongoing fee
$395 annually
Compare
Advantage Package Fixed Rate Investment Loan (Principal and Interest) 3 Years
Advertised rate
4.29%
Fixed - 3 years
Upfront fee
$0
Comparison rate*
5.39%
Ongoing fee
$395 annually
Compare
Advantage Package Fixed Rate Investment Loan (Principal and Interest) (New Loans) 2 Years
Advertised rate
3.99%
Fixed - 2 years
Upfront fee
$0
Comparison rate*
5.42%
Ongoing fee
$395 annually
Compare
Advantage Package Fixed Rate Investment Loan (Principal and Interest) 2 Years
Advertised rate
4.19%
Fixed - 2 years
Upfront fee
$0
Comparison rate*
5.46%
Ongoing fee
$395 annually
Compare
Fixed Rate Investment Loan (Principal and Interest) 3 Years
Advertised rate
4.44%
Fixed - 3 years
Upfront fee
$864.00
Comparison rate*
5.58%
Ongoing fee
$10 monthly
Compare
Advantage Package Fixed Rate Investment Loan (Principal and Interest) 1 Year
Advertised rate
4.49%
Fixed - 1 year
Upfront fee
$0
Comparison rate*
5.58%
Ongoing fee
$395 annually
Compare
Fixed Rate Investment Loan (Principal and Interest) 2 Years
Advertised rate
4.34%
Fixed - 2 years
Upfront fee
$864.00
Comparison rate*
5.67%
Ongoing fee
$10 monthly
Compare
Advantage Package Portfolio Loan Fixed (New Loans) 2 Years
Advertised rate
4.29%
Fixed - 2 years
Upfront fee
$700.00
Comparison rate*
6.05%
Ongoing fee
$395 annually
Compare
Advantage Package Portfolio Loan Fixed 2 Years
Advertised rate
4.45%
Fixed - 2 years
Upfront fee
$700.00
Comparison rate*
6.08%
Ongoing fee
$395 annually
Compare
Advantage Package Portfolio Loan Fixed (New Loans) 1 Year
Advertised rate
4.39%
Fixed - 1 year
Upfront fee
$700.00
Comparison rate*
6.21%
Ongoing fee
$395 annually
Compare
Pros:
  • Lots of repayment flexibility.
  • Specialised and construction loans available.
  • Suits customers with small deposits.
Cons:
  • Relatively high comparison rates.
  • Branch access limited to Victoria.
Bank of Melbourne customer service:

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, email, branch)
  • Mobile app
  • Online banking
  • Live Chat
  • Mobile banking staff

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.

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