IMB Bank: Servicing Australians for more than 140 years

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on January 07, 2022 Fact Checked
IMB Bank: Servicing Australians for more than 140 years

Established in 1880 as Illawarra Mutual Building Society, IMB Bank is the longest-standing building society in New South Wales and the third-largest building society in Australia.

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.


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Budget Home Loan (Principal and Interest) (LVR < 80%)

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    Budget Investment Loan (Principal and Interest) (LVR 80%-90%)

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      Fixed Rate Home Loan (Principal and Interest) 1 Year (LVR ≤ 80%)

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        Fixed Rate Home Loan (Principal and Interest) 5 Years (LVR ≤ 80%)

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          Fixed Rate Home Loan (Interest Only) 1 Year (LVR < 90%)

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            Fixed Rate Home Loan (Principal and Interest) 3 Years (LVR ≤ 80%)

              Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of May 24, 2022. View disclaimer.

              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.


              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


              The entire market was not considered in selecting the above products. Rather, a cut-down portion of the market has been considered. Some providers' products may not be available in all states. To be considered, the product and rate must be clearly published on the product provider's web site.,,, and Performance Drive are part of the Savings Media group. In the interests of full disclosure, the Savings Media Group are associated with the Firstmac Group. To read about how Savings Media Group manages potential conflicts of interest, along with how we get paid, please visit the web site links at the bottom of this page.

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              Jacob Cocciolone joined the Savings team in 2021 as a Finance Journalist. Driven by a passion for keeping Australians up to date with the latest financial news and trends, his areas of interest include financial technology, investing, property and motoring.


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