ME cuts fixed rates by up to 0.40% to lowest in its history
05 Aug 2019
ME Bank has made a number of changes to its range of fixed rate home loans, most notably slashing 3-year fixed rates by a massive 0.40%.
Owner occupiers hoping to lock in a Flexible Home Loan Member Package for 3 years (P&I, ≤80% LVR) will now be able to take advantage of a 3.18% p.a. fixed rate (3.87% p.a. comparison rate*) — the lowest rate ever offered by the bank, according to ME.
And if a lack of a sizeable deposit is holding you back, rates of 3.18% p.a. (4.19% p.a. comparison rate) will also be available for those applying for a 3-year Flexible Home Loan Member Package with an LVR of between 80% and 90%.
ME Flexible Home Loan
Fixed rates from 3.18% (3.87% comparison rate*)
Free extra repayments up to $30,000 during fixed period
No application fee
The ME Flexible Home Loan lives up to its name, letting you lock in a fixed rate for between one and seven years. Opt for the 3-year option and you’ll be looking at an extremely competitive 3.18% p.a. fixed rate (3.87% p.a. comparison rate*). In keeping with the theme of flexibility, repayments can be made weekly, fortnightly or monthly, and you’ll also be able to make free extra repayments up to $30,000 during the fixed rate period. Just keep in mind that there are a few fees that come with this one, most notably a $395 yearly service fee.
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The latest batch of changes have also sharpened rates for investors, with 2 and 3 year rates for the Flexible Home Loan and Flexible Home Loan Member Package looking much more attractive following a 0.20% cut.
Investors looking to pay principal and interest on a 3-year fixed package option (≤80% LVR) will now be offered a competitive 3.68% p.a. fixed rate (4.17% p.a. comparison rate*).
For an idea of how these rates stack up against others currently in the market, be sure to check out our fixed rate home loan comparison page.
