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 18 March 2025


Fact checked and verified. Updated 18 March 2025
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Expert Review

The Bank of Melbourne Unsecured Fixed Rate Personal Loan provides a flexible borrowing option. Interest rates are fixed, ranging from 7.49% to 20.59% p.a. The comparison rate is between 8.40% and 21.43% p.a.* You can borrow from $2,000 up to $50,000. Loan terms range from 1 to 7 years. An establishment fee of $150 applies at the start. There is also a monthly fee of $10. A loan closure fee of $150 may be charged for early repayment.

This personal loan is great for individuals who want consistent repayment amounts. It helps manage expenses like debt consolidation, home renovations, or travel plans. There is also an option for same-day loan finance. This provides quick access to funds when needed most. It enhances financial flexibility without requiring collateral security.

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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