ME Bank offers lowest 3 and 5 year fixed home loans in the market

Want to lock in a competitive interest rate on your home loan? According to the Property Observer non-major ME Bank has cut its 5 year fixed rate to a record low 4.69% and its 3 year fixed rate loan currently sits at a market low 4.59%.

By comparison, the top variable rate home loans in the market are eMoney Prime at 4.45%, UBank UHomeLoan AcceleRate Offer at 4.46% and Dream Home Loan at 4.48%.

Both the ME Bank 3 and 5 year fixed rate home loans have no application or ongoing fees and the 3 year home loan was also awarded the Best Value 3 Year Fixed Home Loan in Mozo’s Experts Choice Awards.

ME Bank CEO Jamie McPhee told the website it has been able to pass savings back to customers because the cost at which ME Bank borrows in the fixed rate market has been falling.

“Unlike the majors, we’re keen to pass these opportunities on to customers and continue our aggressive position in the home loan market.”

ME Bank now offers home loans to both members and non-members of Industry Super Funds and unions.