Variable Home Loan with Offset
Owner-occupierVariableP&IOffsetRedrawExtra repayments
Interest
6.07%p.a.
Comparison*
6.11%p.a.
Monthly repayment
$3,020
LVR 70–80%
Bank of Melbourne Home Loan Rates
Active products
33
Lowest variable
6.07%
Lowest fixed
6.34%
Lowest comparison
6.11%
Last updated
28 July 2026
Bank of Melbourne is the Victorian retail-banking brand of Westpac Group, with branches across Melbourne and regional Victoria. Its Advantage Package offset bundle mirrors Westpac's, with the same loan engine and underwriting standards but Victoria-anchored branding.
What is the lowest Bank of Melbourne home loan rate?
The lowest Bank of Melbourne variable home loan rate Ratesniffers tracks is 6.07% p.a., and the lowest fixed rate is 6.34% p.a. These figures come from the 30 Bank of Melbourne products on this page, ranked by comparison rate, refreshed daily (last updated 28 July 2026).
How many home loan products does Bank of Melbourne offer?
Ratesniffers currently tracks 30 Bank of Melbourne home loan products across variable, fixed and interest-only options for owner-occupiers and investors. Every rate is ranked by comparison rate, the ASIC-mandated figure that folds in most fees, so the genuinely cheapest products sit at the top.
Bank of Melbourne home loan rates at a glance
| Product type | Rate | Comparison rate | Max LVR |
|---|---|---|---|
| Variable Owner-occupier P&I | 6.07% p.a. | 6.11% p.a. | 95% |
| Variable Owner-occupier P&I | 6.07% p.a. | 6.11% p.a. | 95% |
| Variable Investor P&I | 6.22% p.a. | 6.26% p.a. | 95% |
| Variable Investor P&I | 6.22% p.a. | 6.26% p.a. | 95% |
| Fixed 2-year Owner-occupier P&I | 6.34% p.a. | 6.38% p.a. | 95% |
| Variable Owner-occupier interest-only | 6.39% p.a. | 6.43% p.a. | 80% |
| Variable Owner-occupier interest-only | 6.39% p.a. | 6.43% p.a. | 80% |
| Variable Owner-occupier interest-only | 6.39% p.a. | 6.43% p.a. | 80% |
| Variable Owner-occupier interest-only | 6.39% p.a. | 6.43% p.a. | 80% |
| Fixed 1-year Owner-occupier P&I | 6.44% p.a. | 6.48% p.a. | 95% |
| Fixed 2-year Investor P&I | 6.44% p.a. | 6.48% p.a. | 95% |
| Variable Investor interest-only | 6.48% p.a. | 6.52% p.a. | 90% |
30 Bank of Melbourne home loan products
Basic Variable Home Loan
Owner-occupierVariableP&IRedrawExtra repayments
Interest
6.07%p.a.
Comparison*
6.11%p.a.
Monthly repayment
$3,020
LVR 70–80%
Variable Home Loan with Offset
InvestorVariableP&IOffsetRedrawExtra repayments
Interest
6.22%p.a.
Comparison*
6.26%p.a.
Monthly repayment
$3,069
LVR 70–80%
Basic Variable Home Loan
InvestorVariableP&IRedrawExtra repayments
Interest
6.22%p.a.
Comparison*
6.26%p.a.
Monthly repayment
$3,069
LVR 70–80%
Fixed Rate Home Loan
Owner-occupier2y FixedP&IRedrawExtra repayments
Interest
6.34%p.a.
Comparison*
6.38%p.a.
Monthly repayment
$3,108
LVR 70–80%
Variable Home Loan with Offset
Owner-occupierVariableInterest onlyOffsetRedrawExtra repayments
Interest
6.39%p.a.
Comparison*
6.43%p.a.
Monthly repayment
$3,124
LVR 70–80%
Basic Variable Home Loan
Owner-occupierVariableInterest onlyRedrawExtra repayments
Interest
6.39%p.a.
Comparison*
6.43%p.a.
Monthly repayment
$3,124
LVR 70–80%
Relocation Loan with end
Owner-occupierVariableInterest onlyExtra repayments
Interest
6.39%p.a.
Comparison*
6.43%p.a.
Monthly repayment
$3,124
LVR 70–80%
Relocation Loan without end
Owner-occupierVariableInterest onlyExtra repayments
Interest
6.39%p.a.
Comparison*
6.43%p.a.
Monthly repayment
$3,124
LVR 70–80%
Fixed Rate Home Loan
Owner-occupier1y FixedP&IRedrawExtra repayments
Interest
6.44%p.a.
Comparison*
6.48%p.a.
Monthly repayment
$3,141
LVR 70–80%
Fixed Rate Home Loan
Investor2y FixedP&IRedrawExtra repayments
Interest
6.44%p.a.
Comparison*
6.48%p.a.
Monthly repayment
$3,141
LVR 70–80%
Variable Home Loan with Offset
InvestorVariableInterest onlyOffsetRedrawExtra repayments
Interest
6.48%p.a.
Comparison*
6.52%p.a.
Monthly repayment
$3,154
LVR 70–80%
Basic Variable Home Loan
InvestorVariableInterest onlyRedrawExtra repayments
Interest
6.48%p.a.
Comparison*
6.52%p.a.
Monthly repayment
$3,154
LVR 70–80%
Fixed Rate Home Loan
Owner-occupier3y FixedP&IRedrawExtra repayments
Interest
6.54%p.a.
Comparison*
6.58%p.a.
Monthly repayment
$3,174
LVR 70–80%
Fixed Rate Home Loan
Investor1y FixedP&IRedrawExtra repayments
Interest
6.54%p.a.
Comparison*
6.58%p.a.
Monthly repayment
$3,174
LVR 70–80%
Fixed Rate Home Loan
Investor2y FixedInterest onlyRedrawExtra repayments
Interest
6.54%p.a.
Comparison*
6.58%p.a.
Monthly repayment
$3,174
LVR 70–80%
Fixed Rate Home Loan
Investor3y FixedP&IRedrawExtra repayments
Interest
6.64%p.a.
Comparison*
6.68%p.a.
Monthly repayment
$3,207
LVR 70–80%
Fixed Rate Home Loan
Investor1y FixedInterest onlyRedrawExtra repayments
Interest
6.64%p.a.
Comparison*
6.68%p.a.
Monthly repayment
$3,207
LVR 70–80%
Fixed Rate Home Loan
Owner-occupier4y FixedP&IRedrawExtra repayments
Interest
6.69%p.a.
Comparison*
6.73%p.a.
Monthly repayment
$3,223
LVR 70–80%
Fixed Rate Home Loan
Owner-occupier5y FixedP&IRedrawExtra repayments
Interest
6.69%p.a.
Comparison*
6.73%p.a.
Monthly repayment
$3,223
LVR 70–80%
Fixed Rate Home Loan
Owner-occupier2y FixedInterest onlyRedrawExtra repayments
Interest
6.69%p.a.
Comparison*
6.73%p.a.
Monthly repayment
$3,223
LVR 70–80%
Fixed Rate Home Loan
Investor3y FixedInterest onlyRedrawExtra repayments
Interest
6.74%p.a.
Comparison*
6.78%p.a.
Monthly repayment
$3,240
LVR 70–80%
Fixed Rate Home Loan
Owner-occupier1y FixedInterest onlyRedrawExtra repayments
Interest
6.79%p.a.
Comparison*
6.83%p.a.
Monthly repayment
$3,256
LVR 70–80%
Fixed Rate Home Loan
Investor4y FixedP&IRedrawExtra repayments
Interest
6.84%p.a.
Comparison*
6.88%p.a.
Monthly repayment
$3,273
LVR 70–80%
Fixed Rate Home Loan
Investor5y FixedP&IRedrawExtra repayments
Interest
6.84%p.a.
Comparison*
6.88%p.a.
Monthly repayment
$3,273
LVR 70–80%
Fixed Rate Home Loan
Owner-occupier3y FixedInterest onlyRedrawExtra repayments
Interest
6.89%p.a.
Comparison*
6.93%p.a.
Monthly repayment
$3,290
LVR 70–80%
Fixed Rate Home Loan
Investor4y FixedInterest onlyRedrawExtra repayments
Interest
6.94%p.a.
Comparison*
6.98%p.a.
Monthly repayment
$3,306
LVR 70–80%
Fixed Rate Home Loan
Investor5y FixedInterest onlyRedrawExtra repayments
Interest
6.94%p.a.
Comparison*
6.98%p.a.
Monthly repayment
$3,306
LVR 70–80%
Fixed Rate Home Loan
Owner-occupier4y FixedInterest onlyRedrawExtra repayments
Interest
7.09%p.a.
Comparison*
7.13%p.a.
Monthly repayment
$3,357
LVR 70–80%
Fixed Rate Home Loan
Owner-occupier5y FixedInterest onlyRedrawExtra repayments
Interest
7.09%p.a.
Comparison*
7.13%p.a.
Monthly repayment
$3,357
LVR 70–80%
Negotiate Bank of Melbourne rates with a broker
Advertised rates aren't always the rate Bank of Melbourne actually approves. Our broker negotiates against your specific scenario, no fee.
Who is Bank of Melbourne?
Bank of Melbourne is the Victorian brand of the Westpac Group, relaunched in 2011 as a local alternative to the national banks and built on the former St.George network in Victoria. It grew quickly to more than 70 branches across the state within two years of launch.
Its home-loan range broadly mirrors the wider Westpac Group product set, with its own Victorian branch and banker network. Pricing at launch was positioned aggressively against the majors, including its own parent, and it continues to price as a challenger brand within the group.
Who suits a Bank of Melbourne home loan?
Bank of Melbourne tends to suit Victorian borrowers who want big-bank product breadth and branch access with challenger-brand pricing. If you are outside Victoria, the same group products are typically available through Westpac or St.George, so compare across the group before deciding.
Background facts checked 13 July 2026. Rates above refresh independently.
Bank of Melbourne home loans: frequently asked questions
What is the lowest Bank of Melbourne home loan rate?
Bank of Melbourne's lowest variable home loan rate is currently 6.07% p.a., and its lowest fixed rate is 6.34% p.a., based on the 30 Bank of Melbourne products Ratesniffers ranks by comparison rate, refreshed daily (last updated 28 July 2026). The advertised rate isn't always the rate Bank of Melbourne approves, a broker can often negotiate a sharper deal on your scenario.
How does Bank of Melbourne's home loan rate compare to the market?
Bank of Melbourne's lowest variable home loan rate today is 6.07% p.a., which is 2 basis points below the market median of 6.09% p.a., which puts Bank of Melbourne among the more competitive lenders on variable rates today. This is computed daily from the live rates across the lenders Ratesniffers tracks, so it reflects where Bank of Melbourne sits right now rather than a fixed snapshot.
How many home loan products does Bank of Melbourne offer?
Ratesniffers currently tracks 33 Bank of Melbourne home loan products across variable, fixed and interest-only options for owner-occupiers and investors, and ranks the 30 that pass our data-quality checks on this page. Every rate is refreshed daily and ranked by comparison rate, the ASIC-mandated figure that folds in most fees, so the genuinely cheapest loans sit at the top.
Is Bank of Melbourne competitive for refinancing?
It depends on your loan size and LVR. Bank of Melbourne's lowest comparison rate is currently 6.11% p.a., worth checking against the wider market before you switch. On a $500,000 loan, even a 0.30% p.a. difference is about $100 a month, so comparing Bank of Melbourne against the sharpest available rate usually pays off.
How often are Bank of Melbourne's home loan rates updated?
Ratesniffers refreshes Bank of Melbourne's home loan rates daily; this page was last updated 28 July 2026. Rates can change whenever Bank of Melbourne reprices or the RBA moves the cash rate, so the figures shown reflect the most recent data we hold rather than a static snapshot.
Bank of Melbourne rates by borrower and loan type
The same Bank of Melbourne panel, filtered to the scenario you're actually shopping for.
- Bank of Melbourne owner-occupier ratesP&I and offset-eligible products, ranked sharpest-first.
- Bank of Melbourne investor ratesInvestment lending, interest-only where offered.
- Bank of Melbourne refinance ratesRefinance-eligible products versus your current rate.
- Bank of Melbourne first home buyer ratesFHB-eligible products, Home Guarantee where supported.
- Bank of Melbourne fixed rates1 to 5-year terms where available.
- Bank of Melbourne variable ratesFlexible repayments, offset-compatible products.
- Bank of Melbourne interest-only ratesIO terms, mostly investor products.
- Bank of Melbourne offset loans100% offset-account-eligible products.
Compare home loans across the market by purpose
The whole visible panel, sliced by what borrowers actually search for.
Research Bank of Melbourne
Our independent review, and how they stack up head to head.
Other lenders you might compare
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Mortgage guides and market context
Plain-English explainers, plus where rates sit across the market today.