IMB Bank home loan repayment calculator

Thinking about taking out a home loan with IMB Bank? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how IMB Bank home loans compare with other options.

I am an

With a repayment type

Borrow amount

$

Deposit amount %

Loan term

Your estimated mortgage repayments

at interest rate 5.00%

Total interest payable

$0

Total loan repayments

$0

Pros and cons

  • IMB have a wide variety of home loan products to suit most borrowers.
  • IMB loans have flexible options.
  • Loans can be packaged with other products.
  • Some loans offer discounts on interest rates.
  • Some IMB loans are not available to refinancers and investors.
  • Some loans products include fees.

IMB Bank home loans rates

Advertised Rate

2.61%

Variable

Total estimated upfront fees
$799
Comparison Rate*

2.67%

Ongoing fee
$0
Go to site
Company
IMB Bank
More details
Advertised Rate

2.78%

Variable

Total estimated upfront fees
$799
Comparison Rate*

2.84%

Ongoing fee
$0
Go to site
Company
IMB Bank
More details
Advertised Rate

2.98%

Variable

Total estimated upfront fees
$799
Comparison Rate*

2.86%

Ongoing fee
$0
Go to site
Company
IMB Bank
More details
Advertised Rate

3.08%

Variable

Total estimated upfront fees
$799
Comparison Rate*

2.96%

Ongoing fee
$0
Go to site
Company
IMB Bank
More details
Advertised Rate

1.97%

Fixed - 3 years

Total estimated upfront fees
$799
Comparison Rate*

2.97%

Ongoing fee
$6 monthly
Go to site
Company
IMB Bank
More details
Advertised Rate

2.29%

Fixed - 4 years

Total estimated upfront fees
$799
Comparison Rate*

2.99%

Ongoing fee
$6 monthly
Go to site
Company
IMB Bank
More details
Advertised Rate

2.59%

Fixed - 5 years

Total estimated upfront fees
$799
Comparison Rate*

3.04%

Ongoing fee
$6 monthly
Go to site
Company
IMB Bank
More details
Advertised Rate

2.09%

Fixed - 2 years

Total estimated upfront fees
$799
Comparison Rate*

3.08%

Ongoing fee
$6 monthly
Go to site
Company
IMB Bank
More details
Advertised Rate

2.98%

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.12%

Ongoing fee
$10 monthly
Go to site
Company
IMB Bank
More details
Advertised Rate

3.08%

Variable

Total estimated upfront fees
$799
Comparison Rate*

3.14%

Ongoing fee
$0
Go to site
Company
IMB Bank
More details
Advertised Rate

2.19%

Fixed - 1 year

Total estimated upfront fees
$799
Comparison Rate*

3.18%

Ongoing fee
$6 monthly
Go to site
Company
IMB Bank
More details
Advertised Rate

3.28%

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.24%

Ongoing fee
$10 monthly
Go to site
Company
IMB Bank
More details
Advertised Rate

3.38%

Variable

Total estimated upfront fees
$799
Comparison Rate*

3.26%

Ongoing fee
$0
Go to site
Company
IMB Bank
More details
Advertised Rate

3.23%

Variable

Total estimated upfront fees
$799
Comparison Rate*

3.29%

Ongoing fee
$0
Go to site
Company
IMB Bank
More details
Advertised Rate

3.34%

Fixed - 1 year

Total estimated upfront fees
$799
Comparison Rate*

3.29%

Ongoing fee
$6 monthly
Go to site
Company
IMB Bank
More details
Advertised Rate

3.34%

Fixed - 2 years

Total estimated upfront fees
$799
Comparison Rate*

3.30%

Ongoing fee
$6 monthly
Go to site
Company
IMB Bank
More details
Advertised Rate

3.34%

Fixed - 3 years

Total estimated upfront fees
$799
Comparison Rate*

3.32%

Ongoing fee
$6 monthly
Go to site
Company
IMB Bank
More details
Advertised Rate

3.18%

Variable

Total estimated upfront fees
$799
Comparison Rate*

3.37%

Ongoing fee
$10 monthly
Go to site
Company
IMB Bank
More details
Advertised Rate

3.74%

Fixed - 4 years

Total estimated upfront fees
$799
Comparison Rate*

3.46%

Ongoing fee
$6 monthly
Go to site
Company
IMB Bank
More details
Advertised Rate

3.33%

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.49%

Ongoing fee
$10 monthly
Go to site
Company
IMB Bank
More details
Advertised Rate

3.48%

Variable

Total estimated upfront fees
$799
Comparison Rate*

3.49%

Ongoing fee
$10 monthly
Go to site
Company
IMB Bank
More details
Advertised Rate

3.74%

Fixed - 5 years

Total estimated upfront fees
$799
Comparison Rate*

3.50%

Ongoing fee
$6 monthly
Go to site
Company
IMB Bank
More details
Advertised Rate

2.64%

Fixed - 3 years

Total estimated upfront fees
$799
Comparison Rate*

3.56%

Ongoing fee
$6 monthly
Go to site
Company
IMB Bank
More details
Advertised Rate

3.09%

Fixed - 5 years

Total estimated upfront fees
$799
Comparison Rate*

3.58%

Ongoing fee
$6 monthly
Go to site
Company
IMB Bank
More details
Advertised Rate

2.79%

Fixed - 3 years

Total estimated upfront fees
$799
Comparison Rate*

3.60%

Ongoing fee
$6 monthly
Go to site
Company
IMB Bank
More details
Advertised Rate

2.79%

Fixed - 1 year

Total estimated upfront fees
$799
Comparison Rate*

3.75%

Ongoing fee
$6 monthly
Go to site
Company
IMB Bank
More details
Advertised Rate

3.59%

Fixed - 5 years

Total estimated upfront fees
$799
Comparison Rate*

3.78%

Ongoing fee
$6 monthly
Go to site
Company
IMB Bank
More details
Advertised Rate

3.19%

Fixed - 1 year

Total estimated upfront fees
$799
Comparison Rate*

3.79%

Ongoing fee
$6 monthly
Go to site
Company
IMB Bank
More details
Advertised Rate

4.71%

Variable

Total estimated upfront fees
$799
Comparison Rate*

4.77%

Ongoing fee
$0
Go to site
Company
IMB Bank
More details
Advertised Rate

5.01%

Variable

Total estimated upfront fees
$799
Comparison Rate*

4.90%

Ongoing fee
$0
Go to site
Company
IMB Bank
More details
Advertised Rate

5.28%

Variable

Total estimated upfront fees
$799
Comparison Rate*

5.34%

Ongoing fee
$0
Go to site
Company
IMB Bank
More details
Advertised Rate

5.58%

Variable

Total estimated upfront fees
$799
Comparison Rate*

5.47%

Ongoing fee
$0
Go to site
Company
IMB Bank
More details

IMB Bank customer service

IMB home loan customers can contact the bank via the customer support contact centre six days a week. Alternatively, home loan customers who prefer face-to-face banking can pop into a branch or book an appointment with an IMB mobile lender through the website. Customers also have the option of emailing their enquiry through an online contact form.

✓     Customer service centre (phone)

✓     Mobile app

✓     Online banking

✓     Email

✓     Branch

✓     Online Chat

✓     Mobile banking staff

How to Apply

IMB provides potential customers with multiple ways of applying for a home loan. This includes filling out an online application form, calling an IMB Loan Specialist or applying in person at an IMB Branch if you’re in NSW. Before applying for a home loan it is advisable to think about how much money you could conceivably borrow given your financial situation and income. You will also need to provide documentation when applying for a home loan. This will include:

  • Proof of identification.
  • Proof of income – whether you are self-employed or work for an employer.
  • Information regarding your current debts, liabilities and assets.
  • Information relating to the property you are buying including a contract of sale.

What is equity? How can I use equity in my home loan?

Equity refers to the difference between what your property is worth and how much you owe on it. Essentially, it is the amount you have repaid on your home loan to date, although if your property has gone up in value it can sometimes be a lot more.

You can use the equity in your home loan to finance renovations on your existing property or as a deposit on an investment property. It can also be accessed for other investment opportunities or smaller purchases, such as a car or holiday, using a redraw facility.

Once you are over 65 you can even use the equity in your home loan as a source of income by taking out a reverse mortgage. This will let you access the equity in your loan in the form of regular payments which will be paid back to the bank following your death by selling your property. But like all financial products, it’s best to seek professional advice before you sign on the dotted line.

The fine print – what are the eligibility criteria?

This competition is only available to Australian residents who are over 18 and check their home loan interest rate at RateCity. However, you are not required to refinance your home loan or apply for any financial products.

You can still enter if you don’t have a home loan yet – enter how much you plan to borrow and the details of the property you’re considering, and we’ll compare mortgage offers that may suit your needs and estimate how much you could save compared to a loan with an average interest rate. 

How does it work? What are the steps involved?

To check your rate, start by entering your contact details and home loan information at ratecity.com.au. We’ll compare your current home loan to other options in our database, and let you know how much you could save by refinancing.  

If we can’t beat your current rate, you can claim a $100 gift card by confirming your home loan details with us.*

Whether we find you a lower rate or not, all entries will go in the draw to win a chance at $1 million.^

How do you calculate how much you could save with a lower rate?

To work out how much you could save, we run the home loan details you’ve provided through our database, and search for similar home loan options that we think would be suitable for you.

We then calculate the costs of these loan options over 15 years (to keep our calculations consistent) and compare them to the cost calculations for your current home loan.

Switch & Save help desk

How do you determine which home loan rates/products I’m shown?

When you check your home loan rate, you’ll supply some basic information about your current loan, including:

  • the amount owing on your mortgage
  • the value of your property
  • your current interest rate
  • name of existing lender
  • property address

We’ll compare this information to the home loan options in the RateCity database, and show you which home loan products you may be eligible to apply for.

Who has the best home loan?

Determining who has the ‘best’ home loan really does depend on your own personal circumstances and requirements. It may be tempting to judge a loan merely on the interest rate but there can be added value in the extras on offer, such as offset and redraw facilities, that aren’t available with all low rate loans.

To determine which loan is the best for you, think about whether you would prefer the consistency of a fixed loan or the flexibility and potential benefits of a variable loan. Then determine which features will be necessary throughout the life of your loan. Thirdly, consider how much you are willing to pay in fees for the loan you want. Once you find the perfect combination of these three elements you are on your way to determining the best loan for you. 

What is the ratings scale?

The ratings are between 0 and 5, shown to one decimal point, with 5.0 as the best. The ratings should be used as an easy guide rather than the only thing you consider. For example, a product with a rating of 4.7 may or may not be better suited to your needs than one with a rating of 4.5, but both are probably much better than one with a rating of 1.2.

What is a variable home loan?

A variable rate home loan is one where the interest rate can and will change over the course of your loan. The rate is determined by your lender, not the Reserve Bank of Australia, so while the cash rate might go down, your bank may decide not to follow suit, although they do broadly follow market conditions. One of the upsides of variable rates is that they are typically more flexible than their fixed rate counterparts which means that a lot of these products will let you make extra repayments and offer features such as offset accounts.

What is a low-deposit home loan?

A low-deposit home loan is a mortgage where you need to borrow more than 80 per cent of the purchase price – in other words, your deposit is less than 20 per cent of the purchase price.

For example, if you want to buy a $500,000 property, you’ll need a low-deposit home loan if your deposit is less than $100,000 and therefore you need to borrow more than $400,000.

As a general rule, you’ll need to pay LMI (lender’s mortgage insurance) if you take out a low-deposit home loan. You can use this LMI calculator to estimate your LMI payment.

What are extra repayments?

Additional payments to your home loan above the minimum monthly instalments, which can help to reduce the loan’s term and remaining payable interest.

Are you REALLY giving away a million bucks?

We are giving away, for one lucky entrant, the chance to win $1 million. Here’s how it will work:

On 21 May 2020, one winner will be drawn from all the entries. This winner will then get a one in 200 shot at winning one million dollars. Even if they’re unlucky and don’t win the one million, they’ll still leave $5000 richer. 

What is Real Time Ratings?

Real Time RatingsTM ranks home loans according to cost and flexibility. This allows you to compare products using a simple score out of five.

Our world-first system analyses almost 4,000 mortgages based on your individual requirements. Best of all, the results are generated in real time, so if a lender has just hiked its interest rates or introduced extra fees, our system has factored this in.

What is a guarantor?

A guarantor is someone who provides a legally binding promise that they will pay off a mortgage if the principal borrower fails to do so.

Often, guarantors are parents in a solid financial position, while the principal borrower is a child in a weaker financial position who is struggling to enter the property market.

Lenders usually regard borrowers as less risky when they have a guarantor – and therefore may charge lower interest rates or even approve mortgages they would have otherwise rejected.

However, if the borrower falls behind on their repayments, the lender might chase the guarantor for payment. In some circumstances, the lender might even seize and sell the guarantor’s property to recoup their money.

What is a guarantor and guarantee?

A guarantor is a person, third party or organisation that agrees to guarantee your loan.

The guarantee is a legal assurance given by the guarantor to pay the loan if the borrower defaults and is unable to pay.