Bank of Melbourne
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Bank of Melbourne is a Victorian banking brand operating as a division of Westpac Banking Corporation. It provides personal, business and corporate banking services, including savings and transaction accounts, home loans, credit cards and business finance. Customers access its services through digital banking, a branch network and specialist banking teams, with a focus on Melbourne and Victorian communities.
| Legal name | Westpac Banking Corporation |
|---|---|
| ABN | 33007457141 |
| Ownership group | Westpac Group [3]Controlling entity: Westpac Banking Corporation |
| Deposit issuer | Westpac Banking Corporation [1] |
| Deposit protection | Eligible AUD deposits are covered up to $250,000 per account holder across this issuer, including its other brands. [4] |
| Same issuer brands | Westpac, St.George, BankSAEligible deposits across these brands share the issuer’s FCS limit. |
| Banking identity | Bank of Melbourne deposits are issued under the Westpac banking licence [1] |
Savings rates
Compare allRates p.a. at a balance of $699.
| Incentive Saver (21 or over) | Visit | 0.01% | 5.40%Ongoing cap: No cap | No cap | - | - | - | 1 | - | $50 | 0 | - | - | 21 | - | $0 | - |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Incentive Saver (Under 21) | Visit | 0.01% | 5.40%Ongoing cap: No cap | No cap | - | - | - | 1 | - | $0.01 | 0 | - | - | - | 20 | $0 | - |
| Maxi Saver | Visit | 1.25% | 1.25%Ongoing cap: No cap | No cap | 5.15%3 mths | No cap | 3 mths | 0 | - | $0 | 0 | - | - | - | - | $0 | - |
| Maxi Saver (Online only) | Visit | 1.25% | 1.25%Ongoing cap: No cap | No cap | 5.60%3 mths | No cap | 3 mths | 0 | - | $0 | 0 | - | - | - | - | $0 | - |
| Retirement Access Account | Visit | 0.05% | 0.05%Ongoing cap: $10K | $10K | - | - | - | 0 | - | $0 | 0 | - | - | 55 | - | $0 | - |
Source: noren.com.au
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Savings products
Incentive Saver (21 or over)
A variable-rate savings account. Bonus interest depends on meeting the account’s monthly requirements.
Maxi Saver
A variable-rate savings account. The reviewed ongoing rate has no monthly activity requirements. An introductory offer is available to eligible customers.
Retirement Access Account
A variable-rate savings account. The reviewed ongoing rate has no monthly activity requirements.
Useful links
Similar institutions
Sources and review
- Institution background (westpac.com.au)
- APRA ADI register (apra.gov.au)
- Ownership group information (westpac.com.au)
- APRA FCS institution list (apra.gov.au)
Bank of Melbourne data reviewed . Next profile review due .