Bank of Melbourne Discounted Fixed Rate Loan Offer
For a limited time, 3 Year Fixed Rate will be reduced to 6.24% p.a. under the Advantage Package
We have reduced our interest rates on 1 - 5 Year Fixed Rate Home Loans. The new rates are effective from Wednesday 16 November, 2011. These changes apply for new and existing customers switching into a new fixed rate. All other rates remain unchanged.
Product
Current Rate (p.a)
Change
New Rate (p.a.) (excluding Package Discount)
New Rate (p.a.) (with Package Discount)
1 Year Introductory Fixed Rate
6.49%
-0.16%
6.33%
6.33%
1 Year Fixed Rate (Portfolio, Business Umbrella, Low Doc & Low Doc Portfolio)
6.74%
-0.26%
6.48%
6.33%
2 Year Fixed Rate (Portfolio & Business Umbrella)
6.54%
-0.25%
6.29%
6.14%
3 Year Fixed Rate (Portfolio, Business Umbrella, Low Doc & Low Doc Portfolio)
6.54%
-0.15%
6.39%
6.24%
4 Year Fixed Rate (Portfolio & Business Umbrella)
7.04%
-0.20%
6.84%
6.69%
5 Year Fixed Rate (Portfolio, Business Umbrella, Low Doc & Low Doc Portfolio)
7.09%
-0.25%
6.84%
6.69%
1 Year Fixed Rate - Superfund
7.14%
-0.26%
6.88%
N/A
2 Year Fixed Rate - Superfund
6.94%
-0.25%
6.69%
N/A
3 Year Fixed Rate - Superfund
6.94%
-0.15%
6.79%
N/A
4 Year Fixed Rate - Superfund
7.44%
-0.20%
7.24%
N/A
5 Year Fixed Rate - Superfund
7.49%
-0.25%
7.24%
N/A
As a result of this change, a revised serviceability calculator will be available on the website from 16 November, 2011. Advantage Package Offer Reminder: 0.15% off 1-5 Year Fixed Rates The 0.15% discount for eligible Advantage Package Home Loans on standard 1,2,3,4 and 5 Year Fixed Rates will continue. Discounts are applicable to both new and existing customers switching into a new fixed rate with total borrowings of $150k or more.
Should I recommend my customers to select "Rate Lock"? You should always discuss the benefits of Rate Lock when discussing fixed rate loan options with customers as they are always subject to change. Rate Lock will provide interest certainty for 90 days from the date of the request. A fee of 0.15% of the fixed rate loan amount applies, with a minimum amount of $500.
Plus get paid a rebate of .2% of the loan to finance / refinance with Bank of Melbourne through S Baker & Co Pty Ltd. Call S Baker & Co today on 9482 4244.