Bank of Melbourne

Choose from Bank of Melbourne's wide array of financial products and enjoy the benefits of their highly competitive interest rates and rewards.

Bank of Melbourne credit cards

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Apply by 30 April 2025

Bank of Melbourne Amplify Platinum Credit Card (Amplify)

Highlights

Earn 100,000 bonus Amplify Points upon spending $3,000 on eligible purchases within 90 days from card approval, potentially valued at up to $450 in eGift cards. Exclusions apply.
Enjoy a discounted annual fee of $49 p.a. for the first year ($124 p.a. annual fee thereafter).
Earn 1 point for every $1 spent on eligible purchases.

Pros

The 100,000 bonus Amplify Points.
Earn uncapped Amplify Points per dollar on eligible purchases.
Comes with complimentary insurance (terms, conditions, exclusions, and eligibility criteria apply).
Compatible with Apple Pay, Google Pay, and Samsung Pay.

Cons

There is promotional balance transfer offer at the moment.

Apply by 30 April 2025

Bank of Melbourne Amplify Platinum Credit Card (Qantas)

Highlights

Earn 50,000 Qantas Points when you spend at least $3,000 on eligible purchases in the first 90 days from new card approval. Terms and Conditions apply.
Earn 0.5 points for every $1 spent on eligible domestic and overseas purchases.
Points are automatically transferred to your Qantas Frequent Flyer account, ready to use for flights, upgrades, shopping, and more.
Comes with complimentary insurance, including Interstate Flight Inconvenience, Rental Vehicle Excess, international travel coverage, extended warranty, purchase protection, and overseas transit accident insurance.
Earn cashback when you shop through Bank of Melbourne's ShopBack app.

Pros

Earn 50,000 bonus Qantas Points when you meet the criteria.
The discounted annual fee for the first year.
Get access to Visa’s Luxury Hotel Collection, offering perks like room upgrades and late checkouts.
Add 1 additional cardholder at no extra cost.
Offers fraud monitoring, secure online shopping, and a Fraud Money Back Guarantee.
Works with Apple Pay, Google Pay, and Samsung Pay.

Cons

Earnings are capped at $100,000 annually, but bonus Qantas Points are excluded from this limit.
The earning rate of 0.5 points is lower than that of others.
A $75 annual fee applies for the Qantas Rewards Program, worth it if you regularly earn points.

Apply by 30 April 2025

Bank of Melbourne Amplify Signature Credit Card (Amplify)

Highlights

Receive up to 150,000 bonus Amplify Points when you apply by 30 November 2024, get approved, and spend $12,000 on eligible purchases within the first 12 months of card approval. Terms and Conditions apply.
Discounted first-year annual fee of $199.
Includes complimentary overseas travel insurance for up to 6 months

Pros

The 150,000 bonus Amplify Rewards Points.
Enjoy 2 complimentary Priority Pass lounge visits each year when you enroll in Priority Pass.
Discounted first-year annual fee of $199.
Includes complimentary overseas travel insurance for up to 6 months

Cons

There is no promotional balance transfer offer at the moment.
After the initial year, the annual fee reverts to $295 p.a.

Apply by 30 April 2025

Bank of Melbourne Amplify Signature Credit Card (Qantas)

Highlights

Receive up to 80,000 bonus Qantas Points upon spending $6,000 on eligible purchases within 90 days from card approval. Exclusions apply.
Earn 0.75 Qantas points per $1 spent on eligible transactions.
Benefit from complimentary overseas travel insurance for up to 6 months.

Pros

The 80,000 bonus Qantas Points.
Enjoy 2 Qantas lounge passes every year.
Includes complimentary overseas travel insurance for up to 6 months

Cons

The annual fee of $295 p.a.

Apply by 30 April 2025

Bank of Melbourne Vertigo Visa

Highlights

Enjoy 0% for 24 months on Balance Transfers with a 1% balance transfer fee. Reverts to cash advance rate of 21.99% p.a.
13.99% p.a. low variable interest rate on purchases.
Low annual fee of $55 p.a.

Pros

0% p.a. for 24 months on balance transfers.
13.99% p.a. low variable interest rate on purchases.
Low annual fee of $55 p.a.

Cons

Balance transfer rate reverts to 21.99% p.a. after 24 months.
There is a 1% BT fee.
There is no rewards program for this card.

Bank of Melbourne home loans

Bank of Melbourne Standard Variable Rate Home Loan (Owner, Principal and Interest)

Interest rate (p.a.)

4.49%

Comp rate^ (p.a.)

4.66%

Max LVR

80.00%

Application fee

$600.00

Monthly repayment

$2,277.41

Total repayment

$819,867.60

Highlights

Flexible and unlimited additional repayments to pay off your loan sooner
Ability to pause or reduce your repayments
Full interest offset facility to help you save on interest on your home

Bank of Melbourne Standard Variable Rate Home Loan (Owner, Interest only)

Interest rate (p.a.)

5.08%

Comp rate^ (p.a.)

5.25%

Max LVR

80.00%

Application fee

$600.00

Monthly repayment

$2,437.75

Total repayment

$877,590.00

Highlights

Flexible and unlimited additional repayments to pay off your loan sooner
Ability to pause or reduce your repayments
Full interest offset facility to help you save on interest on your home

Bank of Melbourne Standard Variable Rate Home Loan (Investor, Principal and Interest)

Interest rate (p.a.)

5.07%

Comp rate^ (p.a.)

5.24%

Max LVR

80.00%

Application fee

$600.00

Monthly repayment

$2,434.99

Total repayment

$876,596.40

Highlights

Flexible and unlimited additional repayments to pay off your loan sooner
Ability to pause or reduce your repayments
Full interest offset facility to help you save on interest on your home

Bank of Melbourne Standard Variable Rate Home Loan (Investor, Interest only)

Interest rate (p.a.)

5.36%

Comp rate^ (p.a.)

5.53%

Max LVR

80.00%

Application fee

$600.00

Monthly repayment

$2,515.66

Total repayment

$905,637.60

Highlights

Flexible and unlimited additional repayments to pay off your loan sooner
Ability to pause or reduce your repayments
Full interest offset facility to help you save on interest on your home

Bank of Melbourne Standard Variable Rate Home Loan Advantage Package (Owner, Principal and Interest)

Interest rate (p.a.)

3.19%

Comp rate^ (p.a.)

3.62%

Max LVR

80.00%

Application fee

$600.00

Monthly repayment

$1,943.64

Total repayment

$699,710.40

Highlights

Flexible and unlimited additional repayments to pay off your loan sooner
Ability to pause or reduce your repayments
Full interest offset facility to help you save on interest on your home

Bank promo

If applying for Standard Variable Home Loan under Advantage Package

Bank of Melbourne Standard Variable Rate Home Loan Advantage Package (Owner, Interest only)

Interest rate (p.a.)

3.78%

Comp rate^ (p.a.)

4.19%

Max LVR

80.00%

Application fee

$600.00

Monthly repayment

$2,091.69

Total repayment

$753,008.40

Highlights

Flexible and unlimited additional repayments to pay off your loan sooner
Ability to pause or reduce your repayments
Full interest offset facility to help you save on interest on your home

Bank promo

If applying for Standard Variable Home Loan under Advantage Package

Bank of Melbourne Standard Variable Rate Home Loan Advantage Package (Investor, Principal and Interest)

Interest rate (p.a.)

3.77%

Comp rate^ (p.a.)

4.18%

Max LVR

80.00%

Application fee

$600.00

Monthly repayment

$2,089.13

Total repayment

$752,086.80

Highlights

Flexible and unlimited additional repayments to pay off your loan sooner
Ability to pause or reduce your repayments
Full interest offset facility to help you save on interest on your home

Bank promo

If applying for Standard Variable Home Loan under Advantage Package

Bank of Melbourne Standard Variable Rate Home Loan Advantage Package (Investor, Interest only)

Interest rate (p.a.)

4.06%

Comp rate^ (p.a.)

4.47%

Max LVR

80.00%

Application fee

$600.00

Monthly repayment

$2,163.96

Total repayment

$779,025.60

Highlights

Flexible and unlimited additional repayments to pay off your loan sooner
Ability to pause or reduce your repayments
Full interest offset facility to help you save on interest on your home

Bank promo

If applying for Standard Variable Home Loan under Advantage Package

Bank of Melbourne Basic Home Loan (Owner, Principal and Interest)

Interest rate (p.a.)

2.74%

Comp rate^ (p.a.)

2.76%

Max LVR

80.00%

Application fee

$500.00

Monthly repayment

$1,834.70

Total repayment

$660,492.00

Highlights

$0 monthly service fee
Make extra repayments at no extra cost
Ability to pause or reduce your repayments

Bank of Melbourne Basic Home Loan (Owner, Interest only)

Interest rate (p.a.)

4.50%

Comp rate^ (p.a.)

4.55%

Max LVR

80.00%

Application fee

$500.00

Monthly repayment

$2,280.08

Total repayment

$820,828.80

Highlights

$0 monthly service fee
Make extra repayments at no extra cost
Ability to pause or reduce your repayments

Bank of Melbourne Basic Home Loan (Investor, Principal and Interest)

Interest rate (p.a.)

3.29%

Comp rate^ (p.a.)

3.31%

Max LVR

80.00%

Application fee

$500.00

Monthly repayment

$1,968.32

Total repayment

$708,595.20

Highlights

$0 monthly service fee
Make extra repayments at no extra cost
Ability to pause or reduce your repayments

Bank of Melbourne Basic Home Loan (Investor, Interest only)

Interest rate (p.a.)

3.59%

Comp rate^ (p.a.)

3.61%

Max LVR

80.00%

Application fee

$500.00

Monthly repayment

$2,043.38

Total repayment

$735,616.80

Highlights

$0 monthly service fee
Make extra repayments at no extra cost
Ability to pause or reduce your repayments

Bank of Melbourne Relocation Home Loan - With End (Owner, Interest only)

Interest rate (p.a.)

5.08%

Comp rate^ (p.a.)

5.25%

Max LVR

80.00%

Application fee

$600.00

Monthly repayment

$2,437.75

Total repayment

$877,590.00

Highlights

For relocation loans to be used for building a new property, you can live in your existing home while your new home is being built
A range of interest offset facilities available
Options for Standalone Relocation loan or Relocation loan combined with a new loan

Bank of Melbourne Relocation Home Loan - With End (Investor, Interest only)

Interest rate (p.a.)

5.36%

Comp rate^ (p.a.)

5.53%

Max LVR

80.00%

Application fee

$600.00

Monthly repayment

$2,515.66

Total repayment

$905,637.60

Highlights

For relocation loans to be used for building a new property, you can live in your existing home while your new home is being built
A range of interest offset facilities available
Options for Standalone Relocation loan or Relocation loan combined with a new loan

Bank of Melbourne Relocation Home Loan - Without End (Owner, Interest only)

Interest rate (p.a.)

5.08%

Comp rate^ (p.a.)

5.30%

Max LVR

80.00%

Application fee

$150.00

Monthly repayment

$2,437.75

Total repayment

$877,590.00

Highlights

For relocation loans to be used for building a new property, you can live in your existing home while your new home is being built
A range of interest offset facilities available
Options for Standalone Relocation loan or Relocation loan combined with a new loan

Bank of Melbourne Relocation Home Loan - Without End (Investor, Interest only)

Interest rate (p.a.)

5.36%

Comp rate^ (p.a.)

5.58%

Max LVR

80.00%

Application fee

$150.00

Monthly repayment

$2,515.66

Total repayment

$905,637.60

Highlights

For relocation loans to be used for building a new property, you can live in your existing home while your new home is being built
A range of interest offset facilities available
Options for Standalone Relocation loan or Relocation loan combined with a new loan

Learn all about

Q&As

Why should I choose Bank of Melbourne?

The Bank of Melbourne of today prides itself on covering one market, doing it with local resources, and doing it well: "No one understands Victorians better." Its focus has paid off: in 2011, it was recognised for Best Cash Management – Business Bank at the annual Australian Banking & Finance Awards. In the next five years, the bank plans to grow to over 100 branches and 300 ATMs across three regions: Melbourne, Geelong and regional Victoria.

What services do they offer?

The bank provides transaction and savings accounts, home loans and personal loans, insurance, investments and super, along with a range of personal credit cards.

Business customers can make use of the Bank of Melbourne’s tailored business products, including transaction and savings accounts, loans, payment solutions credit cards, super and insurance, overdrafts, line of credit and equipment finance. The bank also provides business advisory services covering issues such as starting and growing businesses, cash flow and staff management.

Corporate services are customised to suit the type of business and industry, with products including bank bill finance, trade finance, equipment finance, car finance, property finance, corporate finance, cash flow finance and risk management solutions.