With ME’s Flexible Home Loan (Fixed) you can opt for a fixed term from 1 year up to a period 7 years and there is a 1 year interest in advance option for investment loans. The fixed rate is available on loans starting from $40,000. The flexibility in ME’s fixed rate home loan is in its wide selection of features that help you pay your loan off faster and save on interest over the long term. The ME Flexible Home Loan allows you to make up to $30,000 in extra repayments each year without penalty which is a generous limit compared to other mortgage providers but you won’t have the luxury of a redraw facility. If you need to free up funds at a later date, there is the option of a repayment holiday but you’ll need to apply. And you will not be charged any application or ongoing monthly service fees with ME’s fixed rate loan.
| Product | Fixed 3 year rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments |
|---|---|---|---|---|---|
|
6.94% p.a. |
8.29% p.a. |
$0.00 |
$450 |
||
|
7.29% p.a. |
8.40% p.a. |
$0.00 |
$450 |
||
|
6.74% p.a. |
8.09% p.a. |
$0.00 |
$450 |
||
|
6.44% p.a. |
8.00% p.a. |
$0.00 |
$450 |
||
|
7.44% p.a. |
8.96% p.a. |
$0.00 |
$450 |
||
|
7.04% p.a. |
8.84% p.a. |
$0.00 |
$450 |
||
|
6.74% p.a. |
8.55% p.a. |
$0.00 |
$450 |
||
|
6.64% p.a. |
8.52% p.a. |
$0.00 |
$450 |
ME’s uncomplicated variable loan options cater to all borrowing needs from the first home buyer to the seasoned property investor. You can choose from a no frills basic home loan or a full featured variable loan called the Flexible Home Loan which are available from $40,000. With ME’s variable options, you’ll have access to the full range of flexible home loan features including extra repayment flexibility, a free redraw facility (minimum $500) and interest only repayments up to 10 years- minus the application and ongoing service fees. And with the Flexible Home Loan option, there is a 100% offset transaction facility which could save you big dollars on interest over the term of your loan.
| Product | Rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments |
|---|---|---|---|---|---|
|
7.24% p.a. |
7.26% p.a. |
$0.00 |
$450 |
||
|
8.71% p.a. |
8.73% p.a. |
$0.00 |
$450 |
||
|
7.77% p.a. |
7.79% p.a. |
$0.00 |
$450 |
||
|
8.42% p.a. |
8.46% p.a. |
$0.00 |
$450 |
||
|
8.42% p.a. |
7.16% p.a. |
$0.00 |
$450 |
||
|
8.45% p.a. |
8.47% p.a. |
$0.00 |
$450 |
||
|
6.07% p.a. |
6.09% p.a. |
$0.00 |
$450 |
||
|
8.86% p.a. |
8.88% p.a. |
$0.00 |
$450 |
||
|
9.36% p.a. |
9.01% p.a. |
$0.00 |
$450 |
||
|
8.65% p.a. |
8.67% p.a. |
$0.00 |
$450 |
||
|
7.94% p.a. |
7.83% p.a. |
$0.00 |
$450 |
||
|
7.70% p.a. |
7.72% p.a. |
$0.00 |
$450 |
||
|
6.94% p.a. |
6.77% p.a. |
$0.00 |
$450 |
||
|
6.59% p.a. |
6.61% p.a. |
$0.00 |
$450 |
||
|
9.62% p.a. |
9.64% p.a. |
$0.00 |
$450 |
||
|
10.32% p.a. |
9.99% p.a. |
$0.00 |
$450 |
||
|
10.12% p.a. |
9.74% p.a. |
$0.00 |
$450 |
||
|
9.32% p.a. |
9.34% p.a. |
$0.00 |
$450 |
If you’re sick of high interest rates and home loan fees eating away at your monthly budget, you might want to consider ME’s Member Package Home Loan. The Package is available on the Flexible Home Loan and allows you to borrow up to 95% of the property’s value. It pays to be a member with ME’s Member Package because you’ll receive heaps of benefits that will help you save including a discounted variable interest rate and waived home loan fees (i.e. solicitor fee, valuation fee and fix/split loan variation fee), although you will pay an annual fee. The fixed rate Package also gives you the pick of the home loan essentials you want such as up to $30,000 in fee free additional repayments, a split loan facility and the ability to choose between weekly, fortnightly and monthly repayments.
| Product | Fixed 3 year rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments |
|---|---|---|---|---|---|
|
6.29% p.a. |
6.70% p.a. |
$395.00 yearly |
$250 |
||
|
6.29% p.a. |
6.70% p.a. |
$395.00 yearly |
$250 |
||
|
6.79% p.a. |
7.67% p.a. |
$395.00 yearly |
$250 |
||
|
6.29% p.a. |
6.70% p.a. |
$395.00 yearly |
$250 |
||
|
6.59% p.a. |
6.79% p.a. |
$395.00 yearly |
$250 |
||
|
7.14% p.a. |
8.21% p.a. |
$395.00 yearly |
$250 |
||
|
7.29% p.a. |
7.94% p.a. |
$395.00 yearly |
$250 |
||
|
6.89% p.a. |
7.83% p.a. |
$395.00 yearly |
$250 |
||
|
6.59% p.a. |
7.08% p.a. |
$395.00 yearly |
$250 |
||
|
6.49% p.a. |
7.05% p.a. |
$395.00 yearly |
$250 |
The ME variable rate Member Package Home Loan includes all the bells and whistles of the fixed rate alternative, but with a little extra flexibility in repayment options to help you pay off your home loan sooner. If you opt for the variable loan option, you’ll get unlimited free additional repayments plus a 100% offset account, which is sure to grow your savings on interest. Just make sure you take full advantage of the benefits of the package deal, as there is an annual package fee that you will need to budget for.
| Product | Rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments |
|---|---|---|---|---|---|
|
6.33% p.a. |
6.71% p.a. |
$395.00 yearly |
$250 |
||
|
8.38% p.a. |
8.74% p.a. |
$395.00 yearly |
$250 |
||
|
6.14% p.a. |
6.53% p.a. |
$395.00 yearly |
$250 |
||
|
6.14% p.a. |
6.53% p.a. |
$395.00 yearly |
$250 |
||
|
6.14% p.a. |
6.53% p.a. |
$395.00 yearly |
$250 |
||
|
7.52% p.a. |
7.89% p.a. |
$395.00 yearly |
$250 |
||
|
8.36% p.a. |
8.72% p.a. |
$395.00 yearly |
$250 |
||
|
7.42% p.a. |
7.79% p.a. |
$395.00 yearly |
$250 |
||
|
7.42% p.a. |
7.79% p.a. |
$395.00 yearly |
$250 |
||
|
8.71% p.a. |
9.07% p.a. |
$395.00 yearly |
$250 |
||
|
8.16% p.a. |
8.52% p.a. |
$395.00 yearly |
$250 |
||
|
6.33% p.a. |
6.71% p.a. |
$395.00 yearly |
$250 |
||
|
8.38% p.a. |
8.74% p.a. |
$395.00 yearly |
$250 |
||
|
6.09% p.a. |
6.48% p.a. |
$395.00 yearly |
$250 |
||
|
6.09% p.a. |
6.48% p.a. |
$395.00 yearly |
$250 |
||
|
7.92% p.a. |
7.44% p.a. |
$395.00 yearly |
$250 |
||
|
8.96% p.a. |
9.08% p.a. |
$395.00 yearly |
$250 |
||
|
7.87% p.a. |
7.31% p.a. |
$395.00 yearly |
$250 |
||
|
7.87% p.a. |
7.31% p.a. |
$395.00 yearly |
$250 |
||
|
6.33% p.a. |
6.71% p.a. |
$395.00 yearly |
$250 |
||
|
8.50% p.a. |
8.86% p.a. |
$395.00 yearly |
$250 |
||
|
6.14% p.a. |
6.53% p.a. |
$395.00 yearly |
$250 |
||
|
6.64% p.a. |
6.88% p.a. |
$395.00 yearly |
$250 |
||
|
7.74% p.a. |
7.57% p.a. |
$395.00 yearly |
$250 |
||
|
6.69% p.a. |
6.93% p.a. |
$395.00 yearly |
$250 |
||
|
6.44% p.a. |
6.82% p.a. |
$395.00 yearly |
$250 |
||
|
9.21% p.a. |
9.26% p.a. |
$395.00 yearly |
$250 |
||
|
7.94% p.a. |
8.18% p.a. |
$395.00 yearly |
$250 |
||
|
7.70% p.a. |
8.07% p.a. |
$395.00 yearly |
$250 |
||
|
9.01% p.a. |
9.16% p.a. |
$395.00 yearly |
$250 |
||
|
8.61% p.a. |
8.97% p.a. |
$395.00 yearly |
$250 |
||
|
6.64% p.a. |
6.88% p.a. |
$395.00 yearly |
$250 |
||
|
7.39% p.a. |
7.41% p.a. |
$395.00 yearly |
$250 |
||
|
6.39% p.a. |
6.77% p.a. |
$395.00 yearly |
$250 |
||
|
6.74% p.a. |
7.12% p.a. |
$395.00 yearly |
$250 |
With ME’s fixed and variable home loan options, there are no application or ongoing service fees. If you opt for the Member Package, you’ll be charged an annual fee.
If you want to pay your home loan off faster and reduce your interest payments, you can take advantage of extra repayment flexibility available with ME’s variable loan options. With the fixed loan, you’ll be able to make up to $30,000 p.a. in additional repayments but there is no redraw facility if you need to access these advanced payments.
Don’t let interest payments cut a hole in your monthly income by using the 100% offset transaction facility available with ME’s Flexible Home Loan. To be eligible, you’ll need to have an ME Everyday Transaction Account.
You could free up funds for future commitments by opting for an interest based repayment option which is available for up to 10 years. Keep in mind, interest only loans are capped at a maximum LVR of 80%.
With an ME home loan, you’ll have access to a Mobile Banking Manager that will visit you in the convenience of your home or workplace to discuss your home loan requirements. This service will not cost you a thing and is obligation free.
Mozo users have rated ME home loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
967 Reviews
great but incentives should like cash back should be for existing customers as well
Read full reviewgreat but incentives should like cash back should be for existing customers as well
ME Bank has always been reasonable and fair. During this turbulent time of interest rates, ME has not handed over the interest hikes as many times as the other banks.
Read full reviewME Bank has always been reasonable and fair. During this turbulent time of interest rates, ME has not handed over the interest hikes as many times as the other banks.
Me bank has changed over the years I am disappointed that I am still with them honestly the interest rate is bad and I get charged annual fee too. customer service is below average and email response is 2 weeks
Read full reviewMe bank has changed over the years I am disappointed that I am still with them honestly the interest rate is bad and I get charged annual fee too. customer service is below average and email response is 2 weeks
ME have a simple application process and explain terms and conditions in plain english Their mobile app and website is easy to use and shows all the information you want and need without the stuff you dont. I appreciate the simple approach, competitive rates and ability to have split variable/fixed portions with offset and redraw
Read full reviewME have a simple application process and explain terms and conditions in plain english Their mobile app and website is easy to use and shows all the information you want and need without the stuff you dont. I appreciate the simple approach, competitive rates and ability to have split variable/fixed portions with offset and redraw
LessI recommend ME bank as it has competitive products along with great customer service. I have been with this bank for over 15 years and have found them to be very supportive if you have any issues with loan repayments. They were compassionate and understanding throughout the Covid 19 pandemic.
Read full reviewI recommend ME bank as it has competitive products along with great customer service. I have been with this bank for over 15 years and have found them to be very supportive if you have any issues with loan repayments. They were compassionate and understanding throughout the Covid 19 pandemic.
Once you’ve decided a home loan with ME Bank is right for you, you’ll need to fill out and submit an application form. Some of the details you may be asked to provide include:
Income
Loan Purpose