Bank of Melbourne Low rate card – loan
Bank of Melbourne Low rate card up to $4 000
Loan amount
$500 – $4,000
Interest from
13.99%
Term
1 – 30 months
Approval
24 hours
Applying does not commit you to a contract.
Properties of this loan
- Bank of Melbourne Low rate card up to $4 000
- Term 1 - 30 months
- Up to 55 days interest-free
Bank of Melbourne, part of the Westpac Group, offers a low-rate credit card designed for a lower ongoing interest rate rather than a rewards program, which suits customers who occasionally carry a balance rather than paying in full each month.
✓ Pros
- Lower ongoing interest rate than typical rewards cards
- Lower annual fee than premium rewards cards
- Backed by the Westpac Group's security and app banking
- Useful for occasional balance carrying
✗ Cons
- No rewards points or travel perks
- Interest still applies to any balance not cleared each period
- Cash advances attract a higher rate and separate fees
How to apply
- Choose your card
- Apply for your card
- Wait for approval
- Get the card
Loan requirements
- ✓ 18 years or older
- ✓ Australian resident for tax purposes
- ✓ Regular income
- ✓ Satisfactory credit check
- ✓ No current default or bankruptcy in some cases
Frequently asked questions
24 hours
The minimum loan amount at Bank of Melbourne Low rate card is $500.
About Bank of Melbourne Ltd
| Company | Bank of Melbourne Ltd |
|---|---|
| Address | 52 Collins St, Melbourne VIC 3000 |
| Website | https://www.bankofmelbourne.com.au |