From humble beginnings, IMB Bank holds a significant place in Australian banking history, growing alongside communities to assist Australians in achieving their financial goals.
135 years post-establishment, IMB continued its philosophy of community and personal service, becoming a mutual bank in 2015 following backing from the Australian Prudential Regulation Authority (APRA),
Whether you're a first home buyer, looking to refinance your current home loan or seeking to invest, IMB Bank has a wide range of mortgage products.
What home loans does IMB Bank offer?
IMB Bank offers principal and interest (P&I) and interest-only (IO) home loans for both owner-occupiers and investors.
These home loans are available in variable and fixed interest rates under the options of ‘Budget’, ‘Fixed Rate’ and ‘Essentials’.
A split option of both variable and fixed interest rates is also available for those seeking added flexibility in their new home or investment journey.
Check out some of IMB Bank’s home loan offerings for owner occupiers in the table below.
| Lender | Home Loan | Interest Rate | Comparison Rate* | Monthly Repayment | Repayment type | Rate Type | Offset | Redraw | Ongoing Fees | Upfront Fees | Max LVR | Lump Sum Repayment | Additional Repayments | Split Loan Option | Tags | Features | Link | Compare | Promoted Product | Disclosure |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
5.69% p.a. | 6.23% p.a. | $2,899 | Principal & Interest | Fixed | $6 | $799 | 80% | |||||||||||||
5.69% p.a. | 6.23% p.a. | $2,899 | Principal & Interest | Fixed | $6 | $799 | 95% | |||||||||||||
5.69% p.a. | 6.23% p.a. | $2,899 | Principal & Interest | Fixed | $6 | $799 | 95% | |||||||||||||
5.69% p.a. | 6.28% p.a. | $2,899 | Principal & Interest | Fixed | $6 | $799 | 80% | |||||||||||||
5.69% p.a. | 6.28% p.a. | $2,899 | Principal & Interest | Fixed | $6 | $799 | 95% | |||||||||||||
5.89% p.a. | 6.23% p.a. | $2,962 | Principal & Interest | Fixed | $6 | $799 | 80% | |||||||||||||
5.89% p.a. | 6.23% p.a. | $2,962 | Principal & Interest | Fixed | $6 | $799 | 95% | |||||||||||||
5.89% p.a. | 6.26% p.a. | $2,962 | Principal & Interest | Fixed | $6 | $799 | 95% | |||||||||||||
5.89% p.a. | 6.69% p.a. | $2,962 | Principal & Interest | Fixed | $6 | $799 | 80% | |||||||||||||
5.89% p.a. | 6.26% p.a. | $2,962 | Principal & Interest | Fixed | $6 | $799 | 80% |
Why choose IMB Bank for your home loan?
While other banks are closing their doors and moving solely online, IMB Bank continues to expand and enhance branch networks to better serve a growing customer base.
From Victoria, to the New South Wales South Coast, the Shoalhaven and the Illawarra, Metropolitan Sydney and Newcastle and the Hunter regions, IMB has 53 branches and key local business banking hubs so you can discuss your goals with the bank digitally, over the phone or face-to-face.
With customer service at its core, IMB Bank utilises a number of features to best serve its growing customer base and propel it into the future for continued success.
Features of IMB Bank Home Loans
Some key features of IMB Bank home loans include:
-
Fee-free: Selected home loan products across IMB Bank’s portfolio are free from establishment fees and/or monthly fees.
-
Split loans: IMB customers have the option to choose to split their mortgage into a combination of fixed and variable repayment types.
-
Offset accounts: Offset accounts up to 100% are available for select IMB Bank home loans.
-
Redraw facility: Some home loans also come with a redraw facility, allowing borrowers to withdraw extra repayments they’ve made.
-
Additional repayments: Across its home loan portfolio, IMB Bank allows you to make unrestricted additional repayments on your home loan, which means you can pay it off faster.
Applying with IMB Bank
For many Australians, owning a home is the ‘great Aussie dream’ yet in order to get there, it requires the biggest financial commitment they'll ever make. That’s where IMB Bank comes in. By satisfying a number of IMB Bank’s eligibility criteria, the bank can provide Australians with a mortgage designed specifically to make their new home or investing dreams a reality.
Eligibility
If you’re looking into applying for a IMB Bank home loan, eligibility requirements include:
-
Applicants must be over the age of 18.
-
Applicants must be an Australian citizen or permanent resident.
-
Applicants must have a regular source of income.
-
Good credit history.
-
Demonstrate your ability to service a loan.
How can I refinance with IMB Bank?
IMB Bank has created specific tools to make it easy for Australians considering refinancing their home loan. IMB Bank’s refinance calculator can show you how much you will save on your monthly repayments and how much time you can potentially shave off your loan by refinancing.
Further, IMB Bank’s repayments calculator can show you the further savings and time saved by paying more than your minimum repayments.
To get started with refinancing or a new home loan application, you can head straight to the IMB Bank website or download the app through the App Store on iOS or Google Play on Android. You can also speak to a IMB Bank loan expert on 133 462 or through one of the 53 branches available throughout Australia.
Image by Rodnae Productions via Pexels
Ready, Set, Buy!
Learn everything you need to know about buying property – from choosing the right property and home loan, to the purchasing process, tips to save money and more!
With bonus Q&A sheet and Crossword!
Harry O'Sullivan
Denise Raward
Harrison Astbury
