Bank of Melbourne Car Loans


Interest Rate - Fixed
8.49 % p.a.

Interest Rate - Variable
12.74 % p.a.
Establishment Fee
$195
Service Fee
$12 /monthly

A great fixed interest rate of 8.49% p.a. (comparison rate 9.60% p.a.)^

Offer your car as security and borrow up to $80,000 at a lower interest rate

  • Interest Rate
    8.49% p.a. fixed
  • Comparison Rate
    9.60% p.a.^
  • Establishment Fee
    $195
  • Early repayment fee
    $150 (if you fully repay the loan within the first 12 months)
  • Monthly Service Fee
    $12
  • Missed Payment Fee
    $9
  • Declined direct debit fee
    $9


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 Car Loans

  • $195 establishment fee

    Establishment fee of $195 is added to your loan amount

  • Choose a fixed rate or variable rate loan

    Fixed interest rate from 8.49% p.a. (9.60% p.a. comparison rate)^ and variable interest rate from 12.74% p.a. (13.81% p.a. comparison rate)^

  • Borrow between $3,000 and $80,000

    Borrow between $3,000 and $80,000 for a new or used car, which is used as security for the loan (conditions apply)

  • Break cost for fixed rate loan

    Break costs are an amount equal to our reasonable estimate of loss if you break a fixed rate loan term. You’ll need to pay break costs upon early payout or partial payment (in excess of the limit set out in the loan terms and conditions) of a fixed rate loan.

Other Pros

  • Low fixed rate
  • Borrow between $3,000 and $80,000 for a new or used car

Cons

  • $150 Early repayment fee if you fully repay the loan within the first 12 months
  • $12 monthly service fee

Bank of Melbourne Car Loans

Apply now

How to apply for a Bank of Melbourne Car Loan

If you are interested in applying for a Bank of Melbourne Car 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.

Bank of Melbourne Car Loans