What is a Get Set Loan?
Withdraw funds when you want without reapplying and only pay interest on what you use
Access funds up to your approved limit (between $5,000 and $50,000) from your Complete Freedom account by using mobile banking, internet banking and debit card. You only pay interest on your outstanding balance and can make repayments above the monthly minimum amount without incurring early repayment fees or break costs.
You also get…
24/7 access
Access your funds and track repayments at any time of day via internet or mobile banking.
Flexible repayments
Choose weekly, fortnightly or monthly repayments and pay as much as you like above the minimum amount without early repayment fees or break costs.
Key fees
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$150 Lending establishment fee (added to your loan amount)
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$50 Minimum monthly repayment (or 1.25% of the outstanding balance plus total interest charges and loan account fee, whichever is higher)
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$12 Monthly loan account fee
The Detail
The Detail
Any advice on this website is general in nature and has been prepared without considering your objectives, financial situation or needs. Please read the product disclaimer and Terms and Conditions documents and consider your individual circumstances before applying for a Bank of Melbourne Personal Loan. Credit criteria, fees, charges, terms and conditions apply. Information correct as of 22 May 2024. Interest rates are subject to change.
1A Redraw facility is available on variable interest rate loans only. Redraw requests are subject to approval. Minimum redraw amount is $500 and a $0 redraw fee applies to each approved request. Other fees and charges may apply.
Unless otherwise specified, the products and services described on this website are available only in Australia from Bank of Melbourne - A Division of Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.