HomePersonal LoansBank of MelbourneSecured Fixed Rate Personal Loan

Bank of Melbourne Secured Fixed Rate Personal Loan

The Bank of Melbourne Secured Fixed Rate Personal Loan offers rates from 6.49% p.a. (7.61% p.a. comparison rate*). on loans of $3,000 to $80,000.


Updated 28 September 2023

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Expert Review

The Bank of Melbourne Secured Fixed Rate Personal Loan is a secured loan with a fixed rate from 6.49% to 12.99% p.a. (7.61% to 14.06% p.a. comparison rate). You can borrow from $3,000 up to $80,000 over 1-7 years. There is an establishment fee of $195 and ongoing fee of $12 per month. A loan closure fee of $150 may apply for early repayment or refinancing within the first 3 years of the loan term.

This loan may be a good choice if you’re looking to buy a vehicle. You may value the certainty that comes with set payment amounts over the life of your loan term.

Product Details
Fees

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$195 establishment fee

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$12 ongoing monthly fee

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$150 early repayment fee may apply

Other fees may apply.

Rates

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Fixed rate from 6.49% to 12.99% p.a.

Loan Amount

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From $3,000 to $80,000

Loan Terms

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1, 2, 3, 4, 5, 6 or 7 years

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Secured loan

TMD

Before applying for this product, you should read the Target Market Determination (TMD) available here on the Bank of Melbourne website.

More information
The comparison rates on this page are based on either a $30,000 loan over 5 years, or a $10,000 loan 3 years, as indicated with each rate. WARNING: This comparison rate applies only to the example given and may not include all fees and charges. Different terms, fees or loan amounts might result in different comparison rates.
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