Portfolio Standard Fixed 4 Years Portfolio Standard Fixed 4 Years

  • 5.56%
    p.a Standard Variable
  • 5.64%
    p.a Comparison**
  • $800
    Upfront fees
  • $168
    Annual fees
  • 90%
    Max Lvr
  • $2,176
    Per Month*

About Bank of Melbourne

The Bank of Melbourne is a financial institution based in Melbourne, Australia, established in 1989 and taken over by the Westpac Banking Corporation (Westpac) in 1997. A bank who believes in delivering the right finance solutions, rather than a generic package. Their motto is to make their customer’s life easier by adding genuine value to the way they deal with money in their day to day business. From buying a first home, restructuring a loan, to renovating at home, Bank of Melbourne will customise solutions to better suit their client’s needs.

Standard Variable

Repayments calculated to take into account ongoing monthly and anual fees.

Monthly repayment*
rate per annum

Loan to Value Ratio

Borrow up to the maxium of 90% of the value of the property.

Lenders Mortgage Insurance, or LMI, will be payable on most loans where the borrowings are greater than 80% of the value of the property.

However, you may be able to capitalise LMI into your loan, increasing the overall loan amount by about 2% (in order to cover the cost of the insurance). Contact a loan market broker to find out how LVR and LMI might impact the cost of your loan repayments.

Capitalise LMI


For ["Line of Credit", "Equity", "Investment", "Owner Occupied", "Vacant Land"], in ["NSW", "NT", "QLD", "SA", "WA", "VIC", "TAS", "ACT"].

4 - 40 years


The level of financial documentaion and credit history required to apply for the loan.

Full Doc
Credit History
Genuine Saving

Redraw Facility

Get quick access to cash by drawing on the loan to pay for renovations or other purchases.

Redraw Facility
Min Redraw
Redraw fee

Banking Features

Given the wide range of loans on offer – with different interest rates, product features and fees – it pays to shop around to find the loan that fits your needs and circumstances. Some loans offer features that may be appropriate for your situation and result in savings over the life of the loan.

Some features you may wish to consider include:

  • an offset account;
  • ability to make extra repayments;
  • a redraw facility; and
  • linked credit card and savings accounts;
  • ability to split your loan between fixed and variable interest rates
Offset Account
Redraw Available
Credit Card
Internet Banking
Telephone Banking
BPay Option
Portability of Loan
Professional Pack
Check Account
Direct Salary Credit
Free Transactions
Minimum Redraw
Redraw Fee


You can make your repaments Monthly.

Interest Only Option
Max Interest Only
15 years

Upfront Fees

Upfront fess associated with estabilishing the loan. Other loan set-up fees, such as valuation fees and lender's mortgage insurance, and Government charges, such as registration fees and stamp duty on property transfer, have not been included. These will be determined after application.


Ongoing Fees

Monthly and annual fees and charges during the loan period.

Ongoing Monthly

Exit Fees

Fees associated with prematurely ending the loan.

Early Repayment
Switch To Fixed


This product was developed to meet the increasing need of customers for flexibility in their financing arrangements. Bank of Melbourne Portfolio Loan allows borrowers to put the funds they borrow to a number of different uses and to change the use of their funds with minimal effort. The product may be the only credit facility that the customer ever needs. The facility works as follows: - One overall credit limit approved by Bank of Melbourne called the Portfolio Loan Credit Limit. - This Portfolio Loan credit limit can be divided into subaccounts (up to 10), each of which has its own sub-account credit limit. The Portfolio Loan credit limit is the sum of all the sub-account credit limits. - As the customers financial needs change, they may redistribute any available credit limit between sub-accounts eg as they pay down their owner occupier sub-account, they may transfer excess credit limit on this sub-account to their investment sub-account and use the funds to increase their investment holdings. - The customer has the convenience of keeping their transactions separate for budgeting and taxation purposes and the flexibility of changing the purpose of their borrowings whenever they need. - The borrowers must apply for any increase to the Portfolio Loan credit limit and approval will be subject to the Bans prevailing credit criteria. - A Portfolio Loan borrower who operates a business with a trading name may include that trading name in the sub-account title. - Shop online using VISA Debit card and with Verified by Visa. Note: If the customer no longer has any need for a line of credit facility then the sub-accounts can operate as a normal transaction account, where interest is paid on credit balances (ie savings balances). Additional sub-accounts can be closed at the customers request, with the limits redistributed to the remaining sub-accounts. Loan amount: Minimum is $10,000 for the Portfolio Loan ($2,000 for each sub-account). No maximum. Loan term: There is no term over which the loan is to be repaid. However, annual reviews will be conducted. Principal reductions are allowed at any time on variable rate sub-accounts. For sub-accounts at a fixed interest rate, principal reductions of $10,000 are allowed for each 12 month period of the fixed rate period.

LVR Notes

Maximum LVR 90% including LMI capitalization.


5% genuine savings needs to be verified on all mortgage insured loans where base LVR exceeds 85%.

Fee Notes

Establishment Fee includes the Bank legal fees for one new security property and any number of existing securities and one standard valuation for the primary security property only, regardless of whether a valuation on that property is required or not. Additional security fees and valuer’s travelling allowance (if applicable) must be collected for each additional security property. Settlement Processing Fee is automatically deducted from the loan amount at settlement. $100 fee applies for each

*Monthly Repayments

Monthly repayments are calculated to take into account the loan amount, repayment term and ongoing fees and charges over the life of the loan.

  • Variable rate loans show the monthly repayments at the current rate.
  • Fixed rate loans show the monthly repayment during the fixed period only.
  • Monthly repayment calculations are an approximate guide only. Speak to a LoanMarket Mortgage broker to understand the exact cost of a loan given your particular circumstances.

**Comparison Rates

A comparison rate is a tool to help consumers identify the true cost of a loan. It factors in the interest rate, loan amount, repayment term and ongoing fees and charges and displays this as a single percentage rate that can be used to compare various loans from different lenders.

Monthly Repayment and Comparison Rate* calculations do not include:

  • The use of account features such as early repayments and offset accounts which vary widely among loans and can reduce the cost of a loan significantly.
  • Cost savings such as fee waivers or special rate discounts.
  • Fees and charges associated with loan options or events that may or may not be used by the borrower, such as early repayment or redraw fees
  • Lenders Mortgage Insurance (LMI) which may be required to secure the loan and can increase the cost of the loan.
  • Government charges such as stamp duty or mortgage registration fees.
  • Fees and charges which aren’t available at the time the comparison rate is provided