Bank of Melbourne home loan rates
Ranked by advertised rate, Bank of Melbourne's lowest advertised rate we track is 6.54% advertised (6.55% comparison) on the Basic Variable Home Loan - owner-occupier, P&I - 28th of 31 lenders we track. Rates as at 31 Oct 2026. Sourced from the lenders' own published figures, read daily from public, standardised open data feeds under the Consumer Data Right. See our methodology.
Its lowest variable home loan rate we track is 6.54% advertised (6.55% comparison) on the Basic Variable Home Loan - owner-occupier, P&I; its lowest fixed home loan rate we track is 6.74% advertised (7.02% comparison) on the Fixed Rate Home Loan, 1-year term. Rates as at 31 Oct 2026.
We track 7 Bank of Melbourne owner-occupier products; every figure is read daily from public, standardised open data feeds under the Consumer Data Right. Rates as at 31 Oct 2026. See our methodology.
At the lowest advertised rate we track - 6.54% on the Basic Variable Home Loan - owner-occupier, P&I - the monthly principal-and-interest repayment on a $600,000 loan over 30 years is about $3,808 a month (an arithmetic example, not a quote or an offer). Rates as at 31 Oct 2026.
Bank of Melbourne since the 29 Sept 2026 RBA decision
The RBA's cash rate target moved from 4.35% to 4.60% (+25 bp) after its decision announced 29 Sept 2026.
Bank of Melbourne has changed 2 variable rates in its published data since:
- Basic Variable Home Loan - owner-occupier, P&I6.29% → 6.54%(+25 bp)matches the cash rate move
- Variable Home Loan with Offset - owner-occupier, P&I6.39% → 6.64%(+25 bp)matches the cash rate move
Lenders can announce a change before it takes effect; the tracker shows it once it appears in their published data. The tracker compares the owner-occupier, principal-and-interest variable rates we track, so a change to a loan we don't track won't show here. Dates are the day a new rate first appeared in the lender's feed, which can be after the day the lender changed it. Every lender's status →
Bank of Melbourne products (7)
| Product | Type | Advertised | Comparison | Max LVR | Lender link |
|---|---|---|---|---|---|
Basic Variable Home Loan - owner-occupier, P&IBank of Melbourne | Variable | 6.54% | 6.55% | 70% | link |
Variable Home Loan with Offset - owner-occupier, P&IBank of Melbourne | Variable | 6.64% | 7.01% | 70% | link |
Fixed Rate Home Loan, 1-year termBank of Melbourne | Fixed 1yr | 6.74% | 7.02% | — | link |
Fixed Rate Home Loan, 2-year termBank of Melbourne | Fixed 2yr | 6.74% | 7.03% | — | link |
Fixed Rate Home Loan, 3-year termBank of Melbourne | Fixed 3yr | 6.94% | 7.10% | — | link |
Fixed Rate Home Loan, 4-year termBank of Melbourne | Fixed 4yr | 7.09% | 7.18% | — | link |
Fixed Rate Home Loan, 5-year termBank of Melbourne | Fixed 5yr | 7.14% | 7.24% | — | link |
Bank of Melbourne recent rate changes
2 of Bank of Melbourne's tracked products changed their advertised rate in the last 30 days. Every change across the board is on the rate changes page.
- Basic Variable Home Loan - owner-occupier, P&I6.29% → 6.54%(+25 bp)previous value last seen 9 Oct 2026
- Variable Home Loan with Offset - owner-occupier, P&I6.39% → 6.64%(+25 bp)previous value last seen 9 Oct 2026
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