UPDATED JUL 7, 2026

IMB Bank Home Loans: The 2026 Review

Innovative digital banking meets community commitment at IMB Bank. Despite branch closures, enjoy competitive rates and personal service. Ready to explore new possibilities?

Bheja Verdict

Very Good

4.2/5
✓
Highly competitive rates across products
✓
Established major bank
Check Eligibility

IMB Bank Home Loans At a Glance

🏷️Best Rate Available

6.04%

Variable • Owner Occupied

💳Application Fee

$449

Upfront fee applies

📅Monthly Fee

$6

Ongoing service fee

🎁Cashback Offer

Available

36 products with cashback

Loan Range:$10K - $100.0M
LVR:Up to 95%
Products:44 variations
Offset Account:Available

Current IMB Bank Home Loan Rates

Last updated: July 2026

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Average Rate
7.05%
Best Rate
6.04%
Monthly Payment
$3,011
Advanced
  • IMB Bank

    Budget Home Loan

    IMB Bank

    Min 20% DepositRedrawCashback
    6.04%
    Interest Rate
    Variable
    6.07%
    Comparison Rate*
    $3,011
    per month
    Principal And Interest
    Visit lender’s site
    Fees:
    Application
    $449
    Discharge
    $300    + other fees may apply
  • IMB Bank

    Essentials Home Loan

    IMB Bank

    Min 20% DepositOffsetRedrawCashback
    6.14%
    Interest Rate
    Variable
    6.25%
    Comparison Rate*
    $3,043
    per month
    Principal And Interest
    Visit lender’s site
    Fees:
    Application
    $449    Ongoing/month $10
    Discharge
    $300    + other fees may apply
  • IMB Bank

    Standard Variable Home Loan

    IMB Bank

    Min 5% DepositOffsetRedraw
    8.96%
    Interest Rate
    Variable
    9.03%
    Comparison Rate*
    $4,009
    per month
    Principal And Interest
    Visit lender’s site
    Fees:
    Application
    $449
    Discharge
    $300    + other fees may apply

* Comparison rate is calculated on a loan amount of $150,000 over 25 years. Rates and fees are subject to change. Terms and conditions apply.

+ Only key fees (application, discharge, ongoing) are displayed - other fees such as redraw, administration, and processing fees may also apply.

IMB Bank Product Statistics

Real-time insights and market analysis

IMB Bank offers 8 home loan products across 44 variations, the average variable rate is 7.02% p.a., the best available rate is 6.04% p.a..

Average Variable Rate

7.02%

26 products

Average Fixed Rate

6.51%

18 products

Best Available Rate

6.04%

Variable • Owner Occupied • P&I

Total Products

8

44 variations

Fee Summary

Application Fee

$449

Monthly Fee

$6 - $10

Discharge Fee

$300

Late Payment Fee

$50

Key Features

Across IMB Bank's range: 15 include an offset account, 44 offer redraw, 44 allow extra repayments, 44 support split loans.

Offset Account
34%
Redraw Facility
100%
Extra Repayments
100%
Split Loan
100%

Product Ranges

IMB Bank's interest rates range from 6.04% to 9.83% p.a., maximum LVR from 80% to 95%, loan amounts span $10,000 to $100,000,000.

Interest Rates6.04% — 9.83%
Max LVR80% — 95%
Loan Amount$10K — $100.0M

Cashback Offer: $4,000 cashback for new purchase or refinance home loans. Min loan size $750,000. Max LVR 80%. Entitlement to cashback is conditional on the loan being active for at least 12 months. 50% of the cashback is repayable if the loan is discharged within 12 months of the settlement date. Excludes: refinance of IMB loans, commercial, construction and bridging loans. Lending and eligibility criteria, T&Cs apply.

Disclaimer: The key features displayed highlight what's available across the lender's home loan range. Individual products and variations may differ. Use the product table to search for a loan with the specific features you're looking for.

How IMB Bank Compares

FEATUREIMB BankBank of SydneyME Bank - ME GoMOVE BankBank of Queensland Limited
Best Variable Rate
6.04%
6.09%
5.99%
5.99%
6.03%
Best Fixed Rate (3yr)
6.39%BEST
—
6.49%
6.59%
6.49%
Application Fee
$449
$400
$0
$600
$300
Monthly Admin Fee
$6
$10
$0
$0
$10
Offset Account
Redraw Facility
Product Variations
44
31
200
28
68
💡

Bheja Insight: IMB Bank offers offset accounts like most major banks, helping reduce interest while keeping funds accessible.

About IMB Bank

Company overview and contact information

IMB Bank, established in 1880, is a mutual bank headquartered in Penrith, NSW. As a member-owned institution, it focuses on providing value to its members rather than external shareholders. With over 145 years of service, IMB Bank is a trusted name in the Australian banking sector, offering both branch and online services. It operates as an authorised deposit-taking institution (ADI) regulated by APRA and holds both an Australian Financial Services Licence (AFSL) and an Australian Credit Licence (ACL).

IMB Bank offers a diverse range of home loan products, with 44 variations tailored to meet different customer needs. Interest rates range from 6.04% to 9.83%, catering to a wide array of borrowers. Known for its personal service and innovation, IMB Bank is committed to providing secure and flexible lending solutions without ongoing fees, making it an attractive option for home buyers and investors alike.

What sets IMB Bank apart is its strong community focus and commitment to digital innovation. Through the IMB Community Foundation, the bank supports local initiatives, reinforcing its dedication to community development. Its reputation for security and fraud prevention, coupled with a legacy of reliable service, positions IMB Bank as a competitive choice in the home loan market.

Company Details

Legal Name: IMB Bank
ABN: 92087651974
Established: 1880
Headquarters: Penrith, NSW
Ownership: Mutual
AFSL: 237 391

Key Features

IMB Bank offers a range of flexible home loan features designed to enhance borrower convenience and cost savings, including a free redraw facility and a competitive cashback offer.

Free Redraw Facility

IMB Bank provides a free redraw facility via internet and mobile banking, allowing borrowers to access extra repayments when needed without incurring additional fees. This feature offers flexibility in managing finances efficiently.

Unrestricted Additional Repayments

Borrowers can make unlimited additional repayments on their IMB Bank home loans, enabling them to reduce interest costs and pay off their loans faster. This feature is available across all IMB home loan products.

$4,000 Cashback Offer

IMB Bank offers a $4,000 cashback for new purchase or refinance home loans with a minimum loan size of $750,000 and a maximum LVR of 80%. Conditions apply, including the requirement for the loan to remain active for at least 12 months.

Family Guarantee

The Family Guarantee option allows family members to assist in purchasing a property without providing a cash gift or loan. It can cover costs like stamp duty and legal fees, reducing the financial burden on borrowers.

Internet Banking and Mobile Banking App

IMB Bank's digital platforms provide convenient access to banking services, enabling borrowers to manage their loans, make payments, and track transactions securely from anywhere at any time.

Offset Account

Linking an offset account to an IMB Bank home loan can significantly reduce interest payments. For example, a $100,000 offset can save $503 per month, enhancing overall financial savings.

Split Loan Facility

IMB Bank allows loans to be divided into multiple portions with different interest rates or features, providing borrowers with the flexibility to tailor their repayment strategy to suit their financial goals.

No Ongoing Fees

IMB Bank home loans come with no ongoing fees, helping borrowers save on regular costs and manage their budgets more effectively over the loan term.

Flexible Repayment Options

IMB Bank offers flexible repayment options, including the ability to make up to 12 months of repayments in advance without penalty, providing borrowers with greater control over their financial planning.

Fees & Charges

IMB Bank offers a range of home loan products with various fees, providing transparency and options for borrowers. Fee structures include upfront, ongoing, and conditional fees, with some waivers and special offers available.

Fee Type
Amount
Description
Additional Loan Application Fee/Top-up Fee
$449
Payable for an application for an additional loan with no new security.
Additional Valuation Fee
Variable
Applies when an additional valuation is required.
Consent Fee
$300
Payable each time consent is requested for changes affecting the security property.
PEXA Transaction Service Fee
Variable
Payable for electronic lodgement of any transaction on title after settlement.
Partial Discharge Processing Fee
$300
Charged when releasing a security property from a loan with multiple securities.
Default Fee
$50
Payable when a loan is in default due to late payments.
Portable Loan Fee
$600
Charged when replacing an existing security property with a new one.
Redraw Fee
$50
Applies to redraws not done via internet banking, which are free.
Switching Fee
$300
Charged for changing interest rate type, product type, or repayment type.
Monthly Fee
$6-$10/month
Monthly account keeping fee, varies by product.
Advance Repayment Costs
Variable
Charged on fixed rate loans if extra repayments exceed limits during the fixed period.
Guarantor Fee
$100
For preparation and processing of guarantee documentation when a guarantor is involved.

Fees subject to change. Refer to lender documentation for current rates.

Eligibility Criteria

IMB Bank offers home loans to a wide range of borrowers, focusing on Australian citizens and permanent residents who meet specific financial and credit criteria. With flexible loan options, IMB Bank caters to both first-time buyers and seasoned homeowners.

Must be at least 18 years old to apply.
Applicants must be Australian citizens or permanent residents.
Loan-to-Value Ratio (LVR) must be between 1% and 95%.
Lenders Mortgage Insurance (LMI) is required for LVRs above 80%, with a maximum LVR of 90% when LMI is applied.
Applicants must be natural persons, not legal entities.
Loan amounts must range between $10,000 and $99,999,999.

Important Notes

  • LMI is required for loans with an LVR above 80%, impacting the overall cost of the loan.
  • Special cashback offers are available for eligible new purchase or refinance applications, valid until withdrawn.
  • IMB Bank supports community projects through its Community Foundation, offering financial assistance to local initiatives.
  • Comparison rates may not include all fees and charges, potentially affecting the perceived cost of the loan.

IMB Bank Home Loan Pros & Cons

Our expert take on whether IMB Bank is right for you

Pros

  • +Competitive savings compared to market averages
  • +$4,000 cashback for eligible loans
  • +No ongoing fees
  • +Flexible repayment options
  • +Strong digital banking services

Cons

  • –Significant delays in refinancing applications
  • –Inconsistent communication during refinancing
  • –Branch closures affecting in – person services

Best For

  • Borrowers seeking cashback offers
  • Families using a Family Guarantee
  • Tech-savvy individuals preferring digital banking
  • Borrowers looking for flexible repayment options

Not Ideal For

  • Borrowers needing quick refinancing
  • Customers relying on in-person branch services
💡

Bheja Verdict: IMB Bank offers competitive home loan options with attractive cashback deals and flexible repayment features, though potential delays in processing may be a concern.

Expert Secrets (Why Use Us?)

Insider knowledge about IMB Bank that most borrowers don't know

LMI Cost Examples

1For a $500,000 loan at 85% LVR, LMI costs $6,000, increasing to $12,500 at 90% and $21,000 at 95%.
2A $750,000 loan incurs $9,000 at 85% LVR, $18,750 at 90%, and $31,500 at 95%.
3At $1,000,000, LMI is $12,000 at 85% LVR, $25,000 at 90%, and $42,000 at 95%.
4IMB does not offer LMI waivers, making it crucial to consider these costs when planning your loan.

Fee Waivers

Open a new account by 31 August 2026 and spend $250 using your IMB Visa Debit Card by 30 September 2026 to enjoy fee waivers.

Offset Benefits

A $10,000 offset saves $50/month ($600/year).
A $25,000 offset saves $126/month ($1,512/year).
A $50,000 offset saves $252/month ($3,024/year).
A $100,000 offset saves $503/month ($6,036/year).

Admin & Logistics (The Help Desk)

Everything you need to manage your loan

Application Process

5 Steps
1
Contact IMB Bank: Reach out to IMB Bank via their customer service line at 133 462 to initiate the discharge process. Confirm any specific requirements and obtain the necessary forms. (Tip: Call during business hours for quicker responses.)
2
Complete Discharge Forms: Fill out the discharge paperwork provided by IMB Bank. Ensure all details are accurate to avoid delays. (Tip: Double-check all information before submission.)
3
Pay Applicable Fees: Pay any required fees, such as the PEXA Transaction Service Fee and Partial Discharge Processing Fee if applicable. (Tip: Verify the exact amount with IMB Bank to avoid underpayment.)
4
Organize Settlement: Coordinate with IMB Bank and any involved parties to schedule the settlement date for the discharge. (Tip: Ensure all parties are informed of the settlement date to avoid last-minute issues.)
5
Repay Cashback if Applicable: If discharging within 12 months, repay 50% of any cashback received. (Tip: Consider timing your discharge to avoid this repayment.)

Processing Times

Discharge Process10-14 business days
💡

Pro Tips

  • Request discharge at least 2 weeks before your desired settlement date to ensure timely processing.
  • Check if you're eligible for any fee waivers or discounts by discussing with IMB Bank.
  • Avoid discharging within 12 months of settlement to prevent cashback repayment.
  • Ensure all paperwork is complete and accurate to prevent delays.
  • Stay in regular contact with IMB Bank to monitor the progress of your discharge request.

IMB Bank Mortgage Calculator

Estimate your repayments using current IMB Bank home loan rates

Over 30 years, borrowing $480,000 at 6.04%, total cost including interest and known fees could be around $1,041,520. Estimated monthly repayment: $2,890.20.

Estimated total cost over 30 years
$1,041,520
Estimated repayment
$2,890.20
monthly repayment
Amount you borrow: $480,000 · At 6.04% · Variable — can change with the market

This loan can be split between fixed and variable. This estimate uses one option only.

Known fees in this estimate

Application fee
$449
Legal fee
$300
Discharge fee
$300
Total ongoing fees (30 yrs)
$0
How is this calculated?

Estimated total cost includes the amount borrowed, interest over the full loan term, and any upfront, ongoing, and discharge fees published by the lender. It does not include stamp duty, LMI, or savings from an offset account.

The revert rate is the rate your loan may switch to when a fixed, introductory, or interest-only period ends. Where a lender hasn't published this rate, we use an estimate.

Cost breakdown

Amount you borrow
$480,000
Total interest
$560,471
Upfront fees
$749
Ongoing fees
$0
Discharge fee
$300
Estimated total cost
$1,041,520
  • These figures are estimates only. Your actual repayments and costs may differ. Confirm all details with your lender before making a decision.
  • Where a lender hasn't published their revert rate (the rate that applies after a fixed, introductory, or interest-only period ends), we estimate it. Your repayments may change when this period ends.
  • Split loans and offset accounts aren't included in this estimate.
  • For product comparison and comparison rates, see the rates table above.

Still Unsure? Let a human handle it.

Not sure if IMB Bank is right for you? Our brokers can help you compare options.

Frequently Asked Questions

Conditional approval can be as quick as 10 minutes, while full approval may take up to 48 hours, depending on your circumstances.

4.8(4 reviews)

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