8.3/10

Based on 2145 ME product reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.

ME home loans

ME - formerly Member’s Equity Bank - is a national bank which was founded in 1994. It is now owned by Bank of Queensland.

ME prides itself on keeping things simple especially when it comes to home loans. You can be assured you won’t find any unnecessary bells and whistles or hidden fees with an ME home loan. There are no ME branches which means you’ll have to apply and manage your home loan wholly online, via the telephone or with the help of a bank manager whom you can organise to meet at a time and place of your convenience.

If you’re comfortable with managing your home loan in this way, an ME home loan could be right for you. This page will give you a run-down on all the stuff you need to know about an ME home loan including any special features to consider, how ME customers rated their homes loans and even what documents you’ll need for the application process.

Or if you’d prefer a mortgage provider with in branch service, head on over to Mozo’s comparison engine and search all home loans here.

Don't forget, ME took home an award in the 2023 Mozo Experts Choice Awards, winning in the Packaged Home Loan category.

What home loans do ME offer?

Rates and fees verified as correct at 31 May 2024. Other information correct at the time of writing. Advertiser disclosure.

Fixed Rate Home Loans

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.

Home loan repayments calculator

years

Product Fixed 3 year rate Comparison Rate Service fee Upfront fee Monthly repayments

6.29% p.a.

8.10% p.a.

$0.00

$450

6.94% p.a.

8.29% p.a.

$0.00

$450

6.74% p.a.

8.09% p.a.

$0.00

$450

6.09% p.a.

7.90% p.a.

$0.00

$450

6.39% p.a.

8.44% p.a.

$0.00

$450

6.59% p.a.

8.70% p.a.

$0.00

$450

6.59% p.a.

8.70% p.a.

$0.00

$450

6.39% p.a.

8.44% p.a.

$0.00

$450

Variable Rate Home Loans

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.

Home loan repayments calculator

years

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.

7.22% p.a.

$0.00

$450

8.45% p.a.

8.47% p.a.

$0.00

$450

6.17% p.a.

6.19% 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

Fixed Package Home Loan

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.

Home loan repayments calculator

years

Product Fixed 3 year rate Comparison Rate Service fee Upfront fee Monthly repayments

5.94% p.a.

6.60% p.a.

$395.00 yearly

$250

5.94% p.a.

6.60% p.a.

$395.00 yearly

$250

6.14% p.a.

7.48% p.a.

$395.00 yearly

$250

5.94% p.a.

6.60% p.a.

$395.00 yearly

$250

6.59% p.a.

6.79% p.a.

$395.00 yearly

$250

6.79% p.a.

8.11% p.a.

$395.00 yearly

$250

6.44% p.a.

7.69% p.a.

$395.00 yearly

$250

6.44% p.a.

7.69% p.a.

$395.00 yearly

$250

6.24% p.a.

6.97% p.a.

$395.00 yearly

$250

6.24% p.a.

6.97% p.a.

$395.00 yearly

$250

Variable Package Home Loan

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.

Home loan repayments calculator

years

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

6.24% p.a.

6.48% p.a.

$395.00 yearly

$250

6.24% p.a.

6.63% p.a.

$395.00 yearly

$250

6.24% p.a.

6.63% 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

6.19% p.a.

6.58% p.a.

$395.00 yearly

$250

6.19% p.a.

6.58% 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.

7.36% p.a.

$395.00 yearly

$250

7.87% p.a.

7.36% 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

6.24% p.a.

6.63% 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

ME home loan features in a glance

Free icon

No application or service fees

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.

Repayment Icon

Additional repayments

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.

Free icon

100% offset transaction facility

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.

Rate icon

Interest only repayments

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%.

Manager icon

Mobile Banking Manager

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.

How are ME home loans rated?

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.

Icon of home-loans
ME home loans customer reviews
Overall
8.4/10
Price
8.4/10
Features
7.7/10
Customer service
8.4/10
Convenience
7.3/10
Trust
8.5/10
Based on 970 ME product reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.

Recent ME home loan reviews

ME Flexible Home Loan
Overall 8/10
No hassle bank. Friendly and reliable.

Online bank. However no major problems in 20 yrs.

Read full review

Online bank. However no major problems in 20 yrs.

Price
9/10
Features
9/10
Customer service
8/10
Convenience
8/10
Trust
8/10
Less
Barbara, Queensland, reviewed 16 days ago
ME Home Loan
Overall 3/10
service is terrible,constantly on the phone on hol

I hate ringing,on hold for ages with that horrible music,good part of this story is i paid out my loan i'm outa here...thank goodness!

Read full review

I hate ringing,on hold for ages with that horrible music,good part of this story is i paid out my loan i'm outa here...thank goodness!

Price
4/10
Features
4/10
Customer service
1/10
Convenience
1/10
Trust
4/10
Less
Dana, Tasmania, reviewed 2 months ago
ME Home Loan
Overall 7/10
Great service on phone

Have found them to have great customer service on the phone.

Read full review

Have found them to have great customer service on the phone.

Price
7/10
Features
6/10
Customer service
10/10
Convenience
7/10
Trust
8/10
Less
Stephanie, Australian Capital Territory, reviewed about 2 months ago
ME Basic Home Loan
Overall 6/10
great

great but incentives should like cash back should be for existing customers as well

Read full review

great but incentives should like cash back should be for existing customers as well

Price
7/10
Features
7/10
Customer service
7/10
Convenience
7/10
Trust
7/10
Less
Chers, Victoria, reviewed 7 months ago
ME Flexible Home Loan
Overall 9/10
ME bank has seen us through tough times

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 review

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.

Price
6/10
Features
4/10
Customer service
8/10
Convenience
6/10
Trust
9/10
Less
Ambre, New South Wales, reviewed 7 months ago

What do you need to apply for a ME home loan?

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

Home loan quick links