Home loan package
You could save $5k^ of interest in the 1st year of packaging a variable home loan. $395 annual package fee*, eligibility criteria, T&Cs apply. Based on a $400k loan.
What’s included in your home loan package
You can add your credit card and Home Insurance after you apply for the Advantage Package (a $395 package fee applies). Your lender can help you find the right mix.
Home loan discounts
1.30% p.a. interest rate discount on Standard Variable Rate, 0.15% p.a. discount on Fixed Rate. No set up or ongoing fees.
Offset or everyday account
Comes with Visa debit card – link your Standard Variable Rate loan to help offset (lower) your loan interest.
Optional add-ins
Bundle your credit card and pay no annual card fee. Add Home/Landlord Insurance with up to a 10% discount**.
All-in-one annual fee
A $395 yearly package fee (covers each and every packaged home loan you have with us).
Save a bundle
Here's what could save by bundling your home loan and offset/transaction account, for a $395 annual package fee.
Home loan + offset/transaction account savings
| Package advantages | Without package | |
| Standard variable interest rate discount (min $150k) | 1.30% p.a. discount | No discount |
| Fixed interest rate discount (min $150k) | 0.15% p.a. discount | No discount |
| Lending Establishment fee | $0 | $600 |
| Monthly loan account fee | $0 | $8 |
Add-ins
The more you bundle, the more you save over the life of your home loan: add any eligible credit card and Home/Landlord Insurance, as part of your package $395 annual fee. Exclusions, T&Cs and eligibility criteria apply.
| Package advantages | Without package | |
| Add a credit card | $0 annual card fee when linked to your package | $295 annual card fee on Amplify Rewards Signature card |
| Add Home/Landlord Insurance | Up to 10% premium discount** | No packaged discount |
| Popular credit cards | Card advantages |
| Amplify Rewards Signature card |
|
| Amplify Rewards Platinum card |
|
You could save around $5k in interest in the first year^
- 1.30% p.a. package discount on our Standard Variable Rate home loan.
- Plus no ongoing fees.
- Plus savings on a credit card + Home/Landlord Insurance.
All for a $395 annual package fee* on a loan over $150k. Based on a $400k loan.
Help me decide on a home loan package
Help me choose a loan
Our home loan selector matches you with options – whether you want a new packaged loan, or checking that your current loan is still the right fit.
Compare interest rates
Fixed and variable. Interest Only and investing. Explore rates and options, based on your situation.
Is there any wiggle room on rates?
Start applying or book an appointment, and a lender will call you about our rates – including a tailored Standard Variable Rate with offset.
How to apply for a home loan package
Start your application online
Apply online for conditional approval or a new split home loan.
- You could get approval in 1 business day
- Dedicated lender will apply your package savings and support you from application to settlement.
Book an appointment
A member of our team will be in touch within 1 business day.
- They'll answer your questions and guide you through your next steps
- A lender can start your application for you.
Package your existing loan
Already got a home loan with us? You could add a package.
- Link an offset account to your variable home loan.
- Add a credit card and Home Insurance to your package.
- Our variable Basic home loan can’t be packaged, but you might be eligible for our Standard Variable Rate with optional offset.
Frequently asked questions
Your packaged home loan comes with a Complete Freedom transaction account that has no account-keeping fees.
If you have our Standard Variable Rate home loan, this transaction account becomes an offset account when you link it to your loan.
You can link multiple (up to 99) offset accounts to your variable rate loans.
Keep exploring
Explore our loans
Check out our guides
Book an appointment
A member of our team will be in touch.
Talk with us
1300 304 660
8am-10pm Mon-Fri
9am-5pm Sat-Sun
The Detail
Conditions, credit criteria, fees and charges apply. Based on Bank of Melbourne’s credit criteria, residential lending is not available for Non-Australian resident borrowers. Interest rates subject to change. Before making a decision, it’s best to read the terms and conditions.
Loan Accounts – Charges for specific services and accounts (PDF 33KB)
This information is general in nature and has been prepared without taking your objectives, needs and overall financial situation into account. For this reason, you should consider the appropriateness of the information to your own circumstances and, if necessary, seek appropriate professional advice.
^Package Savings: This is an estimate of potential savings; actual savings may differ depending on your situation. Estimated savings amount calculated on a $400,000 home loan receiving 1.30% p.a. discount on a packaged Standard Variable Rate home loan compared to an unpackaged Standard Variable Rate home loan. Advantage Package Conditions of Use $395 annual package fee applies.
*Advantage Package: Terms & Conditions (PDF 179KB) apply. A $395 annual package fee applies and is payable from an eligible Bank of Melbourne transaction account. Before deciding to acquire a Bank of Melbourne transaction account, read the terms & conditions, and consider if the product is right for you.
**Home and Landlord Insurance: Advantage Package customers may be eligible for an ongoing premium discount of up to 10% on their Bank of Melbourne Home and Landlord Insurance policies. If you are also eligible for a combined or other policy discount, Allianz will apply the Package discount to the already discounted premium. This means the effect will be reduced. If you purchase your policy online, the Package discount will be applied after purchase and Allianz will inform you of your revised premium (this may take up to 3 months). Allianz will then provide a refund for premium paid annually or provide a pro rata refund and reduce your remaining monthly instalments. If you take out an Advantage Package after your policy has been issued, then the Package discount will apply from your next renewal. Discounts do not apply to optional covers for Domestic/Landlord workers’ compensation (if available and selected). Any discounts may be subject to rounding and do not apply to taxes or government charges.
Home and Contents Insurance is issued by Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 (Allianz). Bank of Melbourne - a Division of Westpac Banking Corporation ABN 33 007 457 141 AFSL 233714 (the Bank) arranges the initial issue of the insurance under a distribution agreement with Allianz Insurance, but does not guarantee the insurance. This information does not take into account your personal circumstances. Before making a decision, please consider the relevant Product Disclosure Statement. For more information call 13 22 66.
If you take out Home and Contents Insurance with Allianz the Bank will receive a commission of up to 12% of the premium (exclusive of GST).
1Break costs: $30,000 prepayment threshold for the entire fixed period without break costs or fees applying. For fixed rate loans taken up prior to 18 August 2019, customers can make prepayments of up to the $10,000 prepayment threshold in each 12 month period without break cost or fees applying. Prepayment break costs are explained in the Things You Should Know About Break Costs (PDF 35KB).
2Redraw facility: if you have 'available funds' (you’re ahead on your home loan repayments) and you’ve activated your redraw facility, you’re free to redraw them with no redraw fee. Up to $100k will be available to redraw from your variable loan online or over the phone each day (in-branch it’s $30k). For fixed loans you can redraw up to your prepayment threshold during your fixed term. Read our Home Loan Redraw Form (PDF 1MB) for full details.
3Converting Amplify Points: You can convert the points earned on your Amplify Rewards Signature or Amplify Rewards Platinum credit card to e-gift cards via your Amplify Rewards Account, which can be accessed via Bank of Melbourne Internet or Mobile Banking. The estimated e-Gift card value in the above examples are based on current redemption rates as at 4th April 2022 and is subject to change without notification. All redemption of Amplify Points are subject to availability and the Amplify Terms and Conditions (PDF 124KB).
4Complimentary Insurance covers: AWP Australia Pty Ltd ABN 52 097 227 177 AFSL 245631, trading as Allianz Global Assistance (AGA), under a binder from the insurer, Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 (Allianz), has issued an insurance group policy to Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714 (Westpac) which allows eligible persons to claim under it as third party beneficiaries. Access to the benefit of cover under the Credit Card Complimentary Insurance is provided to eligible Bank of Melbourne cardholders by operation of s48 of the Insurance Contracts Act 1984 (Cth). If an eligible persons wishes to claim any of these benefits, they will be bound by the eligibility criteria, terms, conditions, limits and exclusions contained in the Complimentary Insurance Policy Information booklet (PDF 339KB) which may be amended from time to time. This insurance is underwritten by Allianz. Westpac does not guarantee this insurance. This information does not take your personal objectives, circumstances or needs into account. Consider its appropriateness to these factors before acting on it.