Bank of Melbourne
8 June 2021
Bank of Melbourne Fixed Rate changes.
Effective Tuesday 8 June 2021, Bank of Melbourne are increasing the 2 and 3 year Fixed Interest Rates for Owner Occupier Loans with Principal & Interest repayments. The decision to increase some of our fixed rates has not been taken lightly. The bank is currently operating in an historically low interest rate environment. In making this decision, we considered the different needs of our stakeholders.
See below for further details of the Fixed Rate Home Loan changes.
Owner Occupier Standard Fixed Rate** (Principal & Interest)
Please note, the above Fixed Home Loan interest rates do not include any LVR# Pricing adjustments.
Important details on Fixed Rates:
- The above Fixed Rate interest rates are applicable to new fixed rate home loan and existing variable rate home loan customers looking to fix all or part of their loan. Existing fixed rate home loan customers looking to fix all or part of the loan may incur break costs.
- The above Fixed Rate interest rates include the Advantage Package^ discount. A $395 annual package fee applies. Please note, these interest rate increases also apply to our non-packaged rates.
- If customers have not rate locked their fixed rate or the rate lock** has expired, then the rate applicable to their loan will be the carded rate (less any applicable margin and special discounts) on the date the loan settles.
Reminder: Customers need to consider their own financial situation and seek independent advice when considering the option to fix their loan.
To view all current Bank of Melbourne interest rates, visit our Home Loan interest rates page. Please note the above interest rates will be reflected on this page from their effective dates.