Bank of Melbourne Get Set Loan


Apply for a credit limit of $5,000–$50,000 and access funds from your Complete Freedom account 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.


Interest Rate
17.00 % p.a.
Establishment Fee
$150
Monthly Service Fee
$12

Line of credit

No fee for additional withdrawals, no early repayment fee and no exit fee

  • Interest Rate
    17.00% p.a.
  • Establishment Fee
    $150
  • Monthly repayments
    Pay $50 or 1.25% of the outstanding balance plus the monthly interest charge and administration fee, whichever is higher.
  • Monthly Service Fee
    $12


Secure online application


  • Clicking the Apply Now button will take you to your Online Application on the bank's website.
  • Your application will take less than 10 minutes to complete

Some Benefits of Bank of Melbourne Line of Credit

  • $150 establishment fee

    Establishment fee of $150 is added to your loan amount

  • Apply for a credit limit ranging from $5,000 to $50,000

    Only pay interest on your outstanding balance, not the assigned credit limit

  • Make extra repayments

    Make payments above the minimum monthly repayment at any time

  • Fees

    No fee for additional withdrawals, no early repayment fee and no exit fee.

Other Pros

  • Credit limit between $5,000 and $50,000

Cons

  • High 17.00% p.a. interest rate
  • $12 monthly service fee

Bank of Melbourne
Line of Credit

Apply now

How to apply for a Bank of Melbourne Get Set Loan

If you are interested in applying for a Bank of Melbourne Get Set Loan, then it is as easy as clicking the 'apply now' button to be redirected to the online application form. Take a look at the application criteria and what you will need to apply:



Application criteria

Make sure you meet the following criteria before you apply:

  • Aged 18 years or over
  • Regular permanent income
  • You need to be a permanent resident of Australia

Required information

  • Identification
  • Financial information, including details of your existing financial commitments
  • Income and employment details

If this loan sounds like it is right for you, hit the 'apply now' button to get the application process started.

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