Bank of Melbourne updates Fixed Rate Home Loan (Fixed 1 Yr) to 6.54%
Bank of Melbourne has increased the rate on its Fixed Rate Home Loan (Fixed 1 Yr) home loan by 25 basis points to 6.54% p.a., from a previous rate of 6.29%.
Bank of Melbourne
Fixed Rate Home Loan (Fixed 1 Yr)
New Rate
6.54%
Illustrative Example
For illustrative purposes, on a $600,000 loan over 30 years at 6.54%, the estimated monthly repayment would be approximately $3,808. That is approximately $98 more per month compared to the previous rate.
Market Context
This rate of 6.54% is above the current market average of 6.49% across 2360 tracked home loan products. The current market leader offers 9.82%.
Notes
Bank of Melbourne increased home loan rate by 0.25% to 6.54%
⚠️ General information only
This comparison is for informational purposes only and does not constitute financial advice. Always verify current rates and eligibility directly with the provider before making decisions. Consider whether products are appropriate for your circumstances.