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ME Basic Home Loan

Advertiser disclosure

The details shown below are for an owner occupier taking out a principal & interest loan of at least $150,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest loan between $40,000 and $149,999 with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest loan of at least $150,000 with an LVR below 95%

The details shown below are for an owner occupier taking out a principal & interest loan of at least $150,000 with an LVR below 90%

The details shown below are for an owner occupier taking out a principal & interest loan between $40,000 and $149,999 with an LVR below 95%

The details shown below are for an owner occupier taking out a interest only loan of at least $40,000 with an LVR below 80%

The details shown below are for an investor taking out a principal & interest loan of at least $40,000 with an LVR below 80%

The details shown below are for an investor taking out a principal & interest loan of at least $40,000 with an LVR below 90%

The details shown below are for an investor taking out a interest only loan of at least $40,000 with an LVR below 80%

The details shown below are for an investor taking out a interest only loan of at least $40,000 with an LVR below 90%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $150,000

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $40,000 $149,999

  • Owner Occupier (Principal & Interest)

    LVR 90%-95%

    Loan: $150,000

  • Owner Occupier (Principal & Interest)

    LVR 80%-90%

    Loan: $150,000

  • Owner Occupier (Principal & Interest)

    LVR 80%-95%

    Loan: $40,000 $149,999

  • Owner Occupier (Interest Only)

    LVR < 80%

    Loan: $40,000

  • Investor (Principal & Interest)

    LVR < 80%

    Loan: $40,000

  • Investor (Principal & Interest)

    LVR 80%-90%

    Loan: $40,000

  • Investor (Interest Only)

    LVR < 80%

    Loan: $40,000

  • Investor (Interest Only)

    LVR < 90%

    Loan: $40,000

Rate
2.58% p.a.
Comparison Rate
2.60% p.a.
Service fee
$0.00
Upfront fee
$400
Rate
4.11% p.a.
Comparison Rate
4.14% p.a.
Service fee
$0.00
Upfront fee
$400
Rate
3.52% p.a.
Comparison Rate
3.54% p.a.
Service fee
$0.00
Upfront fee
$400
Rate
2.99% p.a.
Comparison Rate
3.01% p.a.
Service fee
$0.00
Upfront fee
$400
Rate
4.46% p.a.
Comparison Rate
4.48% p.a.
Service fee
$0.00
Upfront fee
$400
Rate
4.17% p.a.
Comparison Rate
3.60% p.a.
Service fee
$0.00
Upfront fee
$400
Rate
3.28% p.a.
Comparison Rate
3.30% p.a.
Service fee
$0.00
Upfront fee
$400
Rate
3.45% p.a.
Comparison Rate
3.48% p.a.
Service fee
$0.00
Upfront fee
$400
Rate
3.49% p.a.
Comparison Rate
3.39% p.a.
Service fee
$0.00
Upfront fee
$400
Rate
3.69% p.a.
Comparison Rate
3.57% p.a.
Service fee
$0.00
Upfront fee
$400

Mozo editorial review ME Basic Home Loan - last updated: 9 June 2021

binocular icon
What's hot
  • Low variable rate of 2.58% (2.60% comparison rate*)
  • Free extra repayments and redraw facility
  • Repayment holiday feature
  • No ongoing service fees
What's not
  • No offset account
  • $400 in upfront fees
Mozo snapshot

If you’ve been searching for a low-cost yet flexible home loan, then ME’s Basic Home Loan could be the one for you. It has competitive variable rates starting from 2.58% p.a. (2.60% p.a. comparison rate*) and plenty of features like extra repayments and a redraw facility with minimal extra fees suitable for any home loan seeker.

key icon
Key features

ME’s Basic Home Loan has a range of options for owner occupiers and investors alike, with both principal and interest and interest-only options. The lowest variable rate is 2.58% p.a. (2.60% p.a. comparison rate*) for owner occupiers borrowing more than $150,000 and 3.28% p.a. (3.30% p.a. comparison rate*) for investors. However, those rates are only available to borrowers with a loan-to-value ratio (LVR) of 80% or less. 

If your LVR is greater than 80% there are also a number of other options available to you, but these will come with highest interest rates. 

This home loan allows you to make repayments at your own speed with the the flexibility to choose between weekly, fortnightly and even monthly repayments as well as the option to make extra repayments without any extra cost. Additionally, if you do need access to some additional cash while you’re paying off this loan and need to redraw some of those repayments you've already made, you can do so for free using the redraw facility! Just bear in mind that the minimum withdrawal amount is $500.  

Another notable bonus of this loan is the ability to take a break if you’re ahead on your repayments with the repayment holiday feature. Holidays aren’t forever, but they give you the time to regroup, refresh and get back on track.

While ME’s Basic Home Loan has many great features, it doesn’t offer an offset account or the ability to split your loan. Similarly, there are a few additional costs to keep an eye out for, such as the legal ($200), valuation ($200) and discharge fees ($350).

snapshot
Who is it good for

The Basic Home Loan from ME could be a smart choice for anyone looking for a flexible, low-cost home loan with a range of fabulous features like repayment redraw and holiday, minimal fees and low variable rates.

question icon
Any catches

If an offset account feature is something you need in a home loan, then the Basic Home Loan may not be the best option for you.

Details

Rates and fees information correct as at 28 July 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

2.58% p.a.

n/a

n/a

n/a

2.60% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$200.00

$200.00

$0.00

n/a

$0.00

$350.00

Other financial bits

$150,000

none

none

80.00%

Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

yes

yes - free

$500.00

no

no

none

none

none

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 28 July 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

4.11% p.a.

n/a

n/a

n/a

4.14% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$200.00

$200.00

$0.00

n/a

$0.00

$350.00

Other financial bits

$40,000

$149,999

none

80.00%

Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

yes

yes - free

$500.00

no

no

none

none

none

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 28 July 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

3.52% p.a.

n/a

n/a

n/a

3.54% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$200.00

$200.00

$0.00

n/a

$0.00

$350.00

Other financial bits

$150,000

none

90.00%

95.00%

Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

yes

yes - free

$500.00

no

no

none

none

none

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 28 July 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

2.99% p.a.

n/a

n/a

n/a

3.01% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$200.00

$200.00

$0.00

n/a

$0.00

$350.00

Other financial bits

$150,000

none

80.00%

90.00%

Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

yes

yes - free

$500.00

no

no

none

none

none

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 28 July 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

4.46% p.a.

n/a

n/a

n/a

4.48% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$200.00

$200.00

$0.00

n/a

$0.00

$350.00

Other financial bits

$40,000

$149,999

80.00%

95.00%

Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

yes

yes - free

$500.00

no

no

none

none

none

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 28 July 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

4.17% p.a.

n/a

n/a

n/a

3.60% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$200.00

$200.00

$0.00

n/a

$0.00

$350.00

Other financial bits

$40,000

none

none

80.00%

Features

Owner Occupier

Interest Only

Weekly, Fortnightly, Monthly

yes - free

yes

yes - free

$500.00

no

no

none

none

none

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 28 July 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

3.28% p.a.

n/a

n/a

n/a

3.30% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$200.00

$200.00

$0.00

n/a

$0.00

$350.00

Other financial bits

$40,000

none

none

80.00%

Features

Investor

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

yes

yes - free

$500.00

no

no

none

none

none

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 28 July 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

3.45% p.a.

n/a

n/a

n/a

3.48% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$200.00

$200.00

$0.00

n/a

$0.00

$350.00

Other financial bits

$40,000

none

80.00%

90.00%

Features

Investor

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

yes

yes - free

$500.00

no

no

none

none

none

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 28 July 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

3.49% p.a.

n/a

n/a

n/a

3.39% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$200.00

$200.00

$0.00

n/a

$0.00

$350.00

Other financial bits

$40,000

none

none

80.00%

Features

Investor

Interest Only

Weekly, Fortnightly, Monthly

yes - free

yes

yes - free

$500.00

no

no

none

none

none

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 28 July 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

3.69% p.a.

n/a

n/a

n/a

3.57% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$200.00

$200.00

$0.00

n/a

$0.00

$350.00

Other financial bits

$40,000

none

none

90.00%

Features

Investor

Interest Only

Weekly, Fortnightly, Monthly

yes - free

yes

yes - free

$500.00

no

no

none

none

none

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Customer Reviews

How are ME home loans rated by the Mozo community?

Overall
8.4/10
Price
8.4/10
Features
7.7/10
Customer service
8.4/10
Convenience
7.4/10
Trust
8.5/10
Based on 956 ME home loan reviews

Latest reviews of ME Basic Home Loan

About ME

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.