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Bank of Melbourne

Advantage Package

Interest Rate

3.39

% p.a

Fixed - 4 years

Comparison Rate*

3.68

% p.a

Maximum LVR
80%
Real Time Rating™

1.84

/ 5
Monthly Repayment

$1,484

based on $300,000 loan amount for 25 years at 3.39%

Interest Rate

3.39

% p.a

Fixed - 4 years

Comparison Rate*

3.68

% p.a

Maximum LVR
80%
Real Time Rating™

1.84

/ 5
Monthly Repayment

$1,484

based on $300,000 loan amount for 25 years at 3.39%

Calculate your repayments for this loan

I'd like to borrow

$

Loan term

years

Your estimated repayment

$1,484

based on $300,000 loan amount for 25 years at 3.39%

Quick home loan review

For Advantage Package Fixed Rate Home Loan (Principal and Interest) 4 Years (LVR 60%-80%)

These are the benefits of this home loan.

  • Parents can sign as guarantor
  • Extra repayments and redraw facility
  • Free redraw facility
  • Split account option

These are the drawbacks of this home loan.

  • Limited extra repayments
  • Higher than average interest rate
  • Loan reverts to higher rate after fixed period
  • Ongoing fee
  • Higher than average upfront fee
  • Discharge fee at end of loan

Home loan overview

For Advantage Package Fixed Rate Home Loan (Principal and Interest) 4 Years (LVR 60%-80%)

TMD

Details

Maximum LVR

80%

Total Repayments

Interest rate type

Fixed - 4 years

Borrowing range

Suitable for

Owner Occupiers

Loan term range

1 - 30 years

Principal & interest

Interest only

Applicable states

ACT, NSW, NT, QLD, SA, TAS, VIC, WA

Make repayments

Fortnightly, Monthly, Weekly

Features

Extra repayments

Yes - limited to $30000

Redraw facility

Redraw fee: $0

Split interest facility

Loan portable

Repayment holiday available

Allow guarantors

Available for first home buyers

Fees

Total estimated upfront fees

264

Application fee

0

Valuation fee

$164

Settlement fee

100

Other upfront fee

0

Ongoing fee

$395 annually

Discharge fee

350

Application method

Online

Phone

In branch

Specials
  • Cashback $3000 refinance cashback
    Apply by 28 Feb 2022, and settle by 31 May 2022. Owner Occupier (P&I repayments) and Residential Investment loans, with LVR less than 90%. Available on our Advantage Package home loans, with a $395 annual package fee and Basic Home Loans (no annual fee). $250k min loan. Only one $3K cashback offer available per primary applicant within a 12 month period. Excludes refinances from within Westpac Group.^

Target Market Determination

Visit Bank of Melbourne to view Target Market Determination.

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FAQs

What is the minimum amount you can apply for?

The range you can borrow from this loan is $150k to $2,000,000.

What's the minimum deposit needed for this loan?

This loan option comes with a maximum loan-to-value ratio of 80 percent, which means it requires a minimum deposit of 20 percent

What's the maximum length for this loan?

Bank of Melbourne allows you to have this loan for a range of 1 to 30 years.

How often can you make repayments?

Bank of Melbourne allows you to make repayments to this loan option through one of the following repayment schedules: fortnightly, monthly, weekly.

How much will the upfront fees be for this loan?

While it could change based on your circumstances, RateCity estimates that this loan option comes with $264 worth of upfront fees.

Does this loan come with a redraw facility?

Yes, this loan comes with a redraw, charged at $0 if you need to use it.

Where can you apply for this loan?

Bank of Melbourne makes it possible to apply for this product online. Apply here.

Can a broker help me with this loan?

Yes, this Bank of Melbourne loan is available through a broker. Find a broker to help you with your needs.