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Home Loan Variable: 5.69% (5.89%*) • Home Loan Fixed: 5.39% (6.59%*) • Fixed: 5.39% (6.59%*) • Variable: 5.69% (5.89%*) • Investment IO: 5.69% (6.48%*) • Investment PI: 5.39% (6.59%*)

  Budget Home Loan

A low cost home loan option, the Budget Home Loan has a discount off IMB’s standard variable rate for the life of the loan, so you’ll always pay less. No monthly fees, unrestricted additional repayments and free Internet and Mobile Banking redraw
Category: Home Loans  Last Updated October 24, 2024  Effective November 1, 2024

 General Lending Rates

Rates listed below are for a VARIABLE Owner Occupied P&I product. Additional Information Interest rates are based on criteria that includes purpose (owner occupier or investment), repayment type (principal and interest (P&I) or interest only) and loan to value ratio (LVR). Different interest rates and establishment fees may apply if the purpose, repayment type or LVR is different to the purpose, repayment type or LVR for the interest rate shown. For Owner Occupier loans purpose with Principal and Interest repayments.The comparison rate is based on a $150,000 secured loan for a term of twenty five years for all home loans. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
Interest Rate
6.04% PA
Comparison Rate
6.07%PA*
Product rates will vary depending upon your financial position< LVR, and other criteria. The product may also vary depending upon the rate type, repayment type, or loan purpose. We encourage you to contact us for a full understanding of the product and terms.

Product Variations
Product rates and conditions will usually vary based on the LVR and other conditions..
  90%-95% LVR
Minimum: 0.91 PERCENT Maximum: 0.95 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 6.84%, Comparison Rate 6.90%
  • Repayment Type: Principal And Interest
  • Loan Purpose: Owner Occupied
  <80% LVR
Minimum: 0.01 PERCENT Maximum: 0.8 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 6.04%, Comparison Rate 6.07%
  • Repayment Type: Principal And Interest
  • Loan Purpose: Owner Occupied
  <80% LVR
Minimum: 0.01 PERCENT Maximum: 0.8 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 6.34%, Comparison Rate 6.23%
  • Repayment Type: Interest Only
  • Loan Purpose: Owner Occupied
  80-90% LVR
Minimum: 0.81 PERCENT Maximum: 0.9 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 6.64%, Comparison Rate 6.54%
  • Repayment Type: Interest Only
  • Loan Purpose: Owner Occupied
  80-90% LVR
Minimum: 0.81 PERCENT Maximum: 0.9 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 6.39%, Comparison Rate 6.45%
  • Repayment Type: Principal And Interest
  • Loan Purpose: Investment
  <80% LVR
Minimum: 0.01 PERCENT Maximum: 0.8 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 6.29%, Comparison Rate 6.35%
  • Repayment Type: Principal And Interest
  • Loan Purpose: Investment
  <80% LVR
Minimum: 0.01 PERCENT Maximum: 0.8 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 6.59%, Comparison Rate 6.49%
  • Repayment Type: Interest Only
  • Loan Purpose: Investment
  80-90% LVR
Minimum: 0.81 PERCENT Maximum: 0.9 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 6.69%, Comparison Rate 6.59%
  • Repayment Type: Interest Only
  • Loan Purpose: Investment

 Product Features

  • Redraw
  • Digital Banking Additional Information: Internet Banking and Mobile Banking App.
  • Notifications Additional Information: IMB Alerts keep you up to date by sending you SMS or email alerts regarding your banking. Account Alerts help you keep track of your finances and Internet Banking Security Alerts to help keep you safe online. You can register for Alerts in Internet Banking.
  • Other Additional Information: Direct Credit is available on this account type.
  • Other Additional Information: Receive Electronic Funds Transfers (EFT) to this account type.
  • Other Additional Information: IMB boasts an extensive branch network throughout the Illawarra, Sydney, NSW South Coast, the ACT and Melbourne.
  • Other Additional Information: IMB consultants are available Monday to Friday 8am - 8pm and Saturday 9am - 4pm
  • Other Additional Information: Receive only
  • Other Additional Information: Split loan available.
  • Other Additional Information: Free redraw via internet and mobile banking
  • Extra Repayments Additional Information: Unrestricted additional repayments
  • Guarantor Additional Information: A Family Guarantee allows family to assist their children in the purchase of a property without actually providing a cash gift or cash loan. It could also allow borrowers to include some of the costs of purchasing, such as stamp duty and legal costs in the loan amount.
  • Cashback Offer Additional Information: Enjoy up to $4,000 cashback for new purchase or refinance home loans. Min loan size $250,000 and Max LVR 80%. Lending and eligibility criteria, T&Cs apply.

 Product Eligibility

  • Min Age - 18.
  • Natural Person
  • Residency Status - Borrowers Must Be Australian Citizens Or Permanent Residents..
  • Other - Assessment. Additional Information: Lending Criteria apply
  • Other - Purpose Of Funds. Additional Information: For new funds only. Not available as a switch or re-finance from another IMB home loan

 Bank Fees and Charges

  • Loan Application Fee (Upfront), Amount: 449.00. Additional Information: Application fee includes one valuation. Valuation costs over & above single/primary security are to be covered by the borrower. Other fees and charges may apply.
  • Mortgage Processing Fee (Upfront), Amount: 350.00.
  • Additional Valuation Fee (Variable), Amount: 0.00. Additional Information: If the loan is to be against more than one security, additional valuation costs will be collected at settlement.
  • Redraw Fee (free Via Internet And Mobile Banking) (Event), Amount: 50.00. Additional Information: Redraws are FREE via internet banking, otherwise a fee applies
  • Split Loan Fee (Event), Amount: 100.00. Additional Information: Payable to IMB if a loan is split into more than one account.
  • Other Fees And Charges May Apply. (Variable), Amount: 0.00. Additional Information: A full list of fees and charges will be provided if loan is approved.
  • Pexa Transaction Service Fee (Event), Amount: 0.00. Additional Information: Payable to the Property Exchange Australia for electronic lodgement of any transaction on title, including lodgement or discharge of mortgage or caveat. This fee may be changed by Property Exchange Australia at any time or due to additional encumbrances on title or changes in circumstances.

 Limitations & Restrictions (Constraints)

  • Min Limit of 10000
  • Max Limit of 0 Additional Information: Up to 95% loan to value ratio (LVR)

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