{ "source": "https://digital-api.bankofmelbourne.com.au/cds-au/v1/banking/products/BOMHLBasic", "note": "Product Reference Data published by the data holder under the Consumer Data Right, as cached by this site (refreshed every 6 hours).", "data": { "productId": "BOMHLBasic", "lastUpdated": "2026-07-09T03:07:23Z", "productCategory": "RESIDENTIAL_MORTGAGES", "name": "Basic Variable Home Loan", "description": "Our no-frills variable home loan rate, with redraw and no establishment or ongoing monthly fees.", "brand": "Bank of Melbourne", "isTailored": false, "additionalInformation": { "overviewUri": "https://www.bankofmelbourne.com.au/personal/home-loans/our-home-loans/basic-home-loan", "termsUri": "https://www.bankofmelbourne.com.au/personal/home-loans/our-home-loans/basic-home-loan", "eligibilityUri": "https://www.bankofmelbourne.com.au/personal/home-loans/our-home-loans/basic-home-loan", "feesAndPricingUri": "https://www.bankofmelbourne.com.au/content/dam/bom/downloads/personal/home-loans/Loan-Accounts.pdf" }, "features": [ { "featureType": "OTHER", "additionalInfo": "Flexible repayments : Choose to make your repayments weekly, fortnightly or monthly" }, { "featureType": "OTHER", "additionalInfo": "No application fee: A no-frills home loan with $0 lending establishment fee." }, { "featureType": "OTHER", "additionalInfo": "No ongoing monthly fees: $0 monthly account-keeping fee. Other fees may apply" }, { "featureType": "OTHER", "additionalInfo": "Limitless extra repayments: With no extra repayment fee or limits, you?re free to pay off your loan as fast as you like. " }, { "featureType": "REDRAW", "additionalInfo": "Flexibility: Fee-free options include unlimited redraw, Interest Only and reducing repayments if rates fall." }, { "featureType": "DIGITAL_BANKING" }, { "featureType": "OTHER", "additionalInfo": "Option to Loan Split/Subsequent Loan Sequence " }, { "featureType": "OTHER", "additionalInfo": "The product includes a combination loan feature." }, { "featureType": "OTHER", "additionalInfo": "The product provides options which includes reduced repayment, repayment holiday, portability and loan increase (top up) features" }, { "featureType": "OTHER", "additionalInfo": "The product includes a Relocation Loan End Debt feature" }, { "featureType": "OTHER", "additionalInfo": "The product includes Switching (from another product) feature" }, { "featureType": "OTHER", "additionalInfo": "Loan Payment Method - Direct Credit, Direct Debit (preferred), Branch Payment, Internet or Phone Banking" }, { "featureType": "OTHER", "additionalInfo": "Substituting a security : You may ask us to accept a new mortgage over other land as a substitute for any mortgage which is security for your loan. We may agree to this if you satisfy any reasonable requirements that we have, such as repaying part of the loan amount. We will require the new mortgage to be provided at the same time that the existing mortgage is discharged. We charge a fee for substituting a mortgage or other security." }, { "featureType": "OTHER", "additionalInfo": "Statements of account : We will send you a statement of your loan account at least every six months or more frequently if you request" }, { "featureType": "OTHER", "additionalInfo": "Complete your refinance loan application with FASTRefi. A faster and easier refinancing process compared to the standard way - so you could access your new Bank of Melbourne home loan in days, as opposed to weeks. Eligibility applies." }, { "featureType": "EXTRA_REPAYMENTS", "additionalInfo": "Subject to terms and conditions, this product includes extra repayment features." }, { "featureType": "FRAUD_PROTECTION", "additionalInfo": "The product includes fraud protection features." }, { "featureType": "GUARANTOR", "additionalInfo": "Subject to terms and conditions, this product includes guarantor features." }, { "featureType": "RELATIONSHIP_MANAGEMENT", "additionalInfo": "Relationship management is available for eligible customers." } ], "constraints": [ { "constraintType": "MIN_LVR", "additionalValue": "0.00" }, { "constraintType": "MAX_LVR", "additionalValue": "0.95" }, { "constraintType": "MIN_LIMIT", "additionalValue": "30000.00", "additionalInfo": "The minimum amount financed is $30,000" }, { "constraintType": "MAX_LIMIT", "additionalValue": "5000000.00", "additionalInfo": "The maximum amount financed is $5,000,000.00" }, { "constraintType": "OTHER", "additionalInfo": "Maximum repayment term 30 years" }, { "constraintType": "OTHER", "additionalInfo": "Owner occupier - Loan maximum interest only period 5 years" }, { "constraintType": "OTHER", "additionalInfo": "Investment - Loan maximum interest only period 10 years" } ], "eligibility": [ { "eligibilityType": "MIN_AGE", "additionalValue": "18", "additionalInfo": "Applicant should be 18 years or over" }, { "eligibilityType": "RESIDENCY_STATUS", "additionalValue": "Should be an Australian or New Zealand citizen(s) or permanent resident(s)" }, { "eligibilityType": "OTHER", "additionalInfo": "Individuals Only" } ], "fees": [ { "name": "Lending Establishment Fee", "feeType": "UPFRONT", "feeMethodUType": "fixedAmount", "fixedAmount": { "amount": "0.00" } }, { "name": "Loan Account Fee", "feeType": "PERIODIC", "feeMethodUType": "fixedAmount", "fixedAmount": { "amount": "0.00" }, "additionalValue": "P1M" }, { "name": "Document Processing Fee", "feeType": "EVENT", "feeMethodUType": "fixedAmount", "fixedAmount": { "amount": "100.00" }, "additionalInfo": "The Settlement Processing Fee, is a fee charged as apart of the fees for Loan Establishment. It is the fee charged for the processing of settlement services. These can include document validation, value transaction processing and, conveyancing activities required for mortgage lending settlements." }, { "name": "Property Valuer Fee", "feeType": "EVENT", "feeMethodUType": "variable", "variable": {}, "additionalInfo": "The Fee starts from $ 164 and the amount payable is dependent on location/value of security property(is)" }, { "name": "Missed Payment Fee", "feeType": "LATE_PAYMENT", "feeMethodUType": "fixedAmount", "fixedAmount": { "amount": "15.00" }, "additionalInfo": "Fee payable when we send customer an arrears letter relating to an overdue amount" }, { "name": "Loan Discharge Fee", "feeType": "EXIT", "feeMethodUType": "fixedAmount", "fixedAmount": { "amount": "350.00" }, "additionalInfo": "Per Mortgage" }, { "name": "Lenders Mortgage Insurance Premium", "feeType": "UPFRONT", "feeMethodUType": "variable", "variable": {}, "additionalInfo": "If your deposit is less than 20% then Lenders Mortgage Insurance is usually required. There may be other circumstances where Lenders Mortgage Insurance is also required. As Lenders Mortgage Insurance reduces bank's risk as a lender when providing a home loan, you may be able to apply for a home loan and get into your home sooner, with a lower deposit. Lenders Mortgage Insurance insures bank for any shortfall in the event that you default on your loan and if the proceeds from the property sale are not enough to pay off the loan in full. The cost of Lenders Mortgage Insurance is calculated as a percentage of the loan amount. The percentage applied will vary depending on a number of factors. Please speak to your lender if you would like to understand this process in more detail. The cost of Lenders Mortgage Insurance premium is passed on to you. We do not receive a commission on Lenders Mortgage Insurance." } ], "lendingRates": [ { "lendingRateType": "VARIABLE", "rate": "0.0629", "comparisonRate": "0.0630", "calculationFrequency": "P1D", "applicationType": "PERIODIC", "applicationFrequency": "P1M", "interestPaymentDue": "IN_ARREARS", "repaymentType": "PRINCIPAL_AND_INTEREST", "loanPurpose": "OWNER_OCCUPIED", "tiers": [ { "name": "LVR up to 70%", "unitOfMeasure": "PERCENT", "minimumValue": "0.00", "maximumValue": "0.70", "rateApplicationMethod": "WHOLE_BALANCE" } ], "additionalInfo": "Special offer discount of 1.82% p.a. off the Basic Home Loan rate is included in the below rates. The rates include our 0.10% p.a. discount for LVRs+ up to 70%. For Government's home guarantee scheme-backed loans, maximum LVR may differ.", "additionalInfoUri": "https://www.bankofmelbourne.com.au/personal/home-loans/home-loan-interest-rates/table" }, { "lendingRateType": "VARIABLE", "rate": "0.0639", "comparisonRate": "0.0640", "calculationFrequency": "P1D", "applicationType": "PERIODIC", "applicationFrequency": "P1M", "interestPaymentDue": "IN_ARREARS", "repaymentType": "PRINCIPAL_AND_INTEREST", "loanPurpose": "OWNER_OCCUPIED", "tiers": [ { "name": "LVR 70% up to 80%", "unitOfMeasure": "PERCENT", "minimumValue": "0.70", "maximumValue": "0.80", "rateApplicationMethod": "WHOLE_BALANCE" } ], "additionalInfo": "Special offer discount of 1.82% p.a. off the Basic Home Loan rate is included in the below rates. Our standard interest rate applies if you're borrowing above 70% and up to 80% of our property valuation. For Government's home guarantee scheme-backed loans, maximum LVR may differ.", "additionalInfoUri": "https://www.bankofmelbourne.com.au/personal/home-loans/home-loan-interest-rates/table" }, { "lendingRateType": "VARIABLE", "rate": "0.0669", "comparisonRate": "0.0670", "calculationFrequency": "P1D", "applicationType": "PERIODIC", "applicationFrequency": "P1M", "interestPaymentDue": "IN_ARREARS", "repaymentType": "PRINCIPAL_AND_INTEREST", "loanPurpose": "OWNER_OCCUPIED", "tiers": [ { "name": "LVR above 80%", "unitOfMeasure": "PERCENT", "minimumValue": "0.80", "maximumValue": "0.95", "rateApplicationMethod": "WHOLE_BALANCE" } ], "additionalInfo": "Special offer discount of 1.82% p.a. off the Basic Home Loan rate is included in the below rates. An extra 0.30% p.a. will be applied on top of our standard interest rate if you?re borrowing above 80% of our property valuation. For Government's home guarantee scheme-backed loans, maximum LVR may differ.", "additionalInfoUri": "https://www.bankofmelbourne.com.au/personal/home-loans/home-loan-interest-rates/table" }, { "lendingRateType": "VARIABLE", "rate": "0.0729", "comparisonRate": "0.0673", "calculationFrequency": "P1D", "applicationType": "PERIODIC", "applicationFrequency": "P1M", "interestPaymentDue": "IN_ARREARS", "repaymentType": "INTEREST_ONLY", "loanPurpose": "OWNER_OCCUPIED", "tiers": [ { "name": "LVR up to 70%", "unitOfMeasure": "PERCENT", "minimumValue": "0.00", "maximumValue": "0.70", "rateApplicationMethod": "WHOLE_BALANCE" } ], "additionalInfo": "Special offer discount of 1.41% p.a. off the Basic Home Loan rate is included in the below rates. The rates include our 0.10% p.a. discount for LVRs+ up to 70%.", "additionalInfoUri": "https://www.bankofmelbourne.com.au/personal/home-loans/home-loan-interest-rates/table" }, { "lendingRateType": "VARIABLE", "rate": "0.0739", "comparisonRate": "0.0684", "calculationFrequency": "P1D", "applicationType": "PERIODIC", "applicationFrequency": "P1M", "interestPaymentDue": "IN_ARREARS", "repaymentType": "INTEREST_ONLY", "loanPurpose": "OWNER_OCCUPIED", "tiers": [ { "name": "LVR 70% up to 80%", "unitOfMeasure": "PERCENT", "minimumValue": "0.70", "maximumValue": "0.80", "rateApplicationMethod": "WHOLE_BALANCE" } ], "additionalInfo": "Special offer discount of 1.41% p.a. off the Basic Home Loan rate is included in the below rates. Our standard interest rate applies if you're borrowing above 70% and up to 80% of our property valuation.", "additionalInfoUri": "https://www.bankofmelbourne.com.au/personal/home-loans/home-loan-interest-rates/table" }, { "lendingRateType": "VARIABLE", "rate": "0.0654", "comparisonRate": "0.0655", "calculationFrequency": "P1D", "applicationType": "PERIODIC", "applicationFrequency": "P1M", "interestPaymentDue": "IN_ARREARS", "repaymentType": "PRINCIPAL_AND_INTEREST", "loanPurpose": "INVESTMENT", "tiers": [ { "name": "LVR up to 70%", "unitOfMeasure": "PERCENT", "minimumValue": "0.00", "maximumValue": "0.70", "rateApplicationMethod": "WHOLE_BALANCE" } ], "additionalInfo": "Special offer discount of 2.15% p.a. off the Basic Home Loan rate is included in the below rates. The rates include our 0.10% p.a. discount for LVRs+ up to 70%.", "additionalInfoUri": "https://www.bankofmelbourne.com.au/personal/home-loans/home-loan-interest-rates/table" }, { "lendingRateType": "VARIABLE", "rate": "0.0664", "comparisonRate": "0.0665", "calculationFrequency": "P1D", "applicationType": "PERIODIC", "applicationFrequency": "P1M", "interestPaymentDue": "IN_ARREARS", "repaymentType": "PRINCIPAL_AND_INTEREST", "loanPurpose": "INVESTMENT", "tiers": [ { "name": "LVR 70% up to 80%", "unitOfMeasure": "PERCENT", "minimumValue": "0.70", "maximumValue": "0.80", "rateApplicationMethod": "WHOLE_BALANCE" } ], "additionalInfo": "Special offer discount of 2.15% p.a. off the Basic Home Loan rate is included in the below rates. Our standard interest rate applies if you're borrowing above 70% and up to 80% of our property valuation.", "additionalInfoUri": "https://www.bankofmelbourne.com.au/personal/home-loans/home-loan-interest-rates/table" }, { "lendingRateType": "VARIABLE", "rate": "0.0694", "comparisonRate": "0.0695", "calculationFrequency": "P1D", "applicationType": "PERIODIC", "applicationFrequency": "P1M", "interestPaymentDue": "IN_ARREARS", "repaymentType": "PRINCIPAL_AND_INTEREST", "loanPurpose": "INVESTMENT", "tiers": [ { "name": "LVR above 80%", "unitOfMeasure": "PERCENT", "minimumValue": "0.80", "maximumValue": "0.95", "rateApplicationMethod": "WHOLE_BALANCE" } ], "additionalInfo": "Special offer discount of 2.15% p.a. off the Basic Home Loan rate is included in the below rates. An extra 0.30% p.a. will be applied on top of our standard interest rate if you?re borrowing above 80% of our property valuation.", "additionalInfoUri": "https://www.bankofmelbourne.com.au/personal/home-loans/home-loan-interest-rates/table" }, { "lendingRateType": "VARIABLE", "rate": "0.0689", "comparisonRate": "0.0670", "calculationFrequency": "P1D", "applicationType": "PERIODIC", "applicationFrequency": "P1M", "interestPaymentDue": "IN_ARREARS", "repaymentType": "INTEREST_ONLY", "loanPurpose": "INVESTMENT", "tiers": [ { "name": "LVR up to 70%", "unitOfMeasure": "PERCENT", "minimumValue": "0.00", "maximumValue": "0.70", "rateApplicationMethod": "WHOLE_BALANCE" } ], "additionalInfo": "Special offer discount of 2.19% p.a. off the Basic Home Loan rate is included in the below rates. The rates include our 0.10% p.a. discount for LVRs+ up to 70%.", "additionalInfoUri": "https://www.bankofmelbourne.com.au/personal/home-loans/home-loan-interest-rates/table" }, { "lendingRateType": "VARIABLE", "rate": "0.0699", "comparisonRate": "0.0680", "calculationFrequency": "P1D", "applicationType": "PERIODIC", "applicationFrequency": "P1M", "interestPaymentDue": "IN_ARREARS", "repaymentType": "INTEREST_ONLY", "loanPurpose": "INVESTMENT", "tiers": [ { "name": "LVR 70% up to 80%", "unitOfMeasure": "PERCENT", "minimumValue": "0.70", "maximumValue": "0.80", "rateApplicationMethod": "WHOLE_BALANCE" } ], "additionalInfo": "Special offer discount of 2.09% p.a. off the Basic Home Loan rate is included in the below rates. Our standard interest rate applies if you're borrowing above 70% and up to 80% of our property valuation.", "additionalInfoUri": "https://www.bankofmelbourne.com.au/personal/home-loans/home-loan-interest-rates/table" }, { "lendingRateType": "VARIABLE", "rate": "0.0729", "comparisonRate": "0.0710", "calculationFrequency": "P1D", "applicationType": "PERIODIC", "applicationFrequency": "P1M", "interestPaymentDue": "IN_ARREARS", "repaymentType": "INTEREST_ONLY", "loanPurpose": "INVESTMENT", "tiers": [ { "name": "LVR above 80%", "unitOfMeasure": "PERCENT", "minimumValue": "0.80", "maximumValue": "0.90", "rateApplicationMethod": "WHOLE_BALANCE" } ], "additionalInfo": "Special offer discount of 2.09% p.a. off the Basic Home Loan rate is included in the below rates. An extra 0.30% p.a. will be applied on top of our standard interest rate if you?re borrowing above 80% of our property valuation.", "additionalInfoUri": "https://www.bankofmelbourne.com.au/personal/home-loans/home-loan-interest-rates/table" } ] } }