HomePersonal LoansBank of MelbourneUnsecured Fixed Rate Personal Loan

Bank of Melbourne Unsecured Fixed Rate Personal Loan

The Bank of Melbourne Unsecured Fixed Rate Personal Loan offers rates from 7.49% p.a. (8.40% p.a. comparison rate*). on loans of $2,000 to $50,000.


Updated 23 September 2024


Fact checked and verified. Updated 23 September 2024
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Expert Review

The Bank of Melbourne Unsecured Fixed Rate Personal Loan is an unsecured loan with a fixed rate from 7.99% to 18.90% p.a. (9.10% to 19.93% p.a. comparison rate). You can borrow from $2,000 up to $50,000. You can choose a loan term between 1-7 years. There is an establishment fee of $195 and an ongoing fee of $12 per month. A loan closure fee of $150 may apply in some cases.

This product may be suitable for those looking for debt consolidation, home renovations or travel financing. It may also be suitable for those who prefer the certainty of fixed repayment amounts each month. Plus you can get your loan finance within the same day.

Product Details
Fees

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$150 establishment fee

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$10 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 7.49% to 20.59% p.a.

Loan Amount

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From $2,000 to $50,000

Loan Terms

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

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Unsecured 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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