Standard Variable Home Loan (Interest Only) (LVR 80%-95%)
- 100% full offset account
- Suitable for low deposits
- Parents can sign as guarantor
- Extra repayments + redraw services
- Discharge fee at end of loan
- Repayments may increase if RBA raises rates
Interest rate structure
$10k - $100m
Principal & interest
Loan term range
1 - 30 years
100% offset account
Unlimited extra repayments
Redraw fee: $10
Allows split interest
ACT, NSW, NT, QLD, SA, TAS, VIC, WA
Estimated upfront fees
Minimum SMSF Amount
Compare and review home loans with similar features
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.
The standard variable rate (SVR) is the interest rate a lender applies to their standard home loan. It is a variable interest rate which is normally used as a benchmark from which they price their other variable rate home loan products.
A standard variable rate home loan typically includes most, if not all the features the lender has on offer, such as an offset account, but it often comes with a higher interest rate attached than their most ‘basic’ product on offer (usually referred to as their basic variable rate mortgage).