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Bank of Melbourne Discounted Fixed Rate Loan Offer

 

BOMBANNERTEMPLATE

002001

 

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.

This article is not a substitute for independent professional advice. We do not warrant the accuracy, completeness or adequacy of the information or material in this article. All information is subject to change without notice. We and each party providing material displayed in this article disclaim liability to all persons or organisations in relation to any action(s) taken on the basis of currency or accuracy of the information or material, or any loss or damage suffered in connection with that information or material. You should make your own enquiries before entering into any transaction on the basis of the information or material in this article. Please ensure you contact us to discuss your particular circumstances and how the information provided applies to your situation.

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