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
| Availability | Loan type | LVR | Min loan amount | Max loan amount | |
|---|---|---|---|---|---|
| | Owner Occupier | Principal & Interest | < 80% | $150,000 | |
| | Owner Occupier | Principal & Interest | < 80% | $40,000 | $149,999 |
| | Owner Occupier | Principal & Interest | 90%-95% | $150,000 | |
| | Owner Occupier | Principal & Interest | 80%-90% | $150,000 | |
| | Owner Occupier | Principal & Interest | 80%-95% | $40,000 | $149,999 |
| | Owner Occupier | Interest Only | < 80% | $40,000 | |
| | Investor | Principal & Interest | < 80% | $40,000 | |
| | Investor | Principal & Interest | 80%-90% | $40,000 | |
| | Investor | Interest Only | < 80% | $40,000 | |
| | Investor | Interest Only | < 90% | $40,000 |
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
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. So whether it’s your first property or your 5th the many bonuses of this loan will satisfy your craving to find a great deal.
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 best variable rate starts from 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, they're only available to borrowers with a loan-to-value ratio (LVR) of 80% or less.
If your LVR is more than 80%, there are two tiers you may fall into with higher but still decent rates. If it's between 80-90%, rates start from 2.99% (3.01% comparison rate*). Borrowers taking on a loan of more than 90% of a property's value can access a 3.52% p.a. rate (3.54% p.a. comparison rate*).
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 extra costs. Additionally, if you do get in any temporary financial trouble while you’re paying off this loan and need to redraw funds, you can do it for free! 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).
It’s a smart choice for anyone looking for a flexible home loan with a range of fabulous features like repayment redraw and holiday, minimal fees and low variable rates.
If an offset account feature is something you need from your home loan this Basic Home Loan may not be the best option for you.
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
$0.00
$200.00
$200.00
$0.00
n/a
$0.00
$350.00
$150,000
none
none
80.00%
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.
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
$0.00
$200.00
$200.00
$0.00
n/a
$0.00
$350.00
$40,000
$149,999
none
80.00%
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.
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
$0.00
$200.00
$200.00
$0.00
n/a
$0.00
$350.00
$150,000
none
90.00%
95.00%
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.
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
$0.00
$200.00
$200.00
$0.00
n/a
$0.00
$350.00
$150,000
none
80.00%
90.00%
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.
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
$0.00
$200.00
$200.00
$0.00
n/a
$0.00
$350.00
$40,000
$149,999
80.00%
95.00%
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.
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
$0.00
$200.00
$200.00
$0.00
n/a
$0.00
$350.00
$40,000
none
none
80.00%
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.
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
$0.00
$200.00
$200.00
$0.00
n/a
$0.00
$350.00
$40,000
none
none
80.00%
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.
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
$0.00
$200.00
$200.00
$0.00
n/a
$0.00
$350.00
$40,000
none
80.00%
90.00%
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.
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
$0.00
$200.00
$200.00
$0.00
n/a
$0.00
$350.00
$40,000
none
none
80.00%
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.
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
$0.00
$200.00
$200.00
$0.00
n/a
$0.00
$350.00
$40,000
none
none
90.00%
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.
I would not recommend Me Bank to anyone. I have a home investment loan with them which the term ends early next year and I will be refinancing with another provider. Their customer service is poor and the call centre staff are not well trained to deal with the situation particularly during the COVID pandemic.
Read full reviewI would not recommend Me Bank to anyone. I have a home investment loan with them which the term ends early next year and I will be refinancing with another provider. Their customer service is poor and the call centre staff are not well trained to deal with the situation particularly during the COVID pandemic.
They offer a redraw, then take it away. All without telling you. Suddenly my lifes savings I've accumulated over 20 yrs as a loyal customer - gone - they decided to take my redraw and transfer it to the loan, Just in case I experience financial hardship. Really! Well at least the loan's less, but hey the new car, holiday and renovation all a distant memory. Why trust such an institution - leave leave now as fast as you can!
Read full reviewThey offer a redraw, then take it away. All without telling you. Suddenly my lifes savings I've accumulated over 20 yrs as a loyal customer - gone - they decided to take my redraw and transfer it to the loan, Just in case I experience financial hardship. Really! Well at least the loan's less, but hey the new car, holiday and renovation all a distant memory. Why trust such an institution - leave leave now as fast as you can!
When money “disappears” and when you ask where it is, they say “it has been absorbed into the loan.” No evidence of it coming off the principal or put back into our savings account. Thieves!!
Read full reviewWhen money “disappears” and when you ask where it is, they say “it has been absorbed into the loan.” No evidence of it coming off the principal or put back into our savings account. Thieves!!
Takes money from your redraw without notice, never get hold of them on the phone, terrible customer service and not at all competitive, leaving them ASAP.
Read full reviewTakes money from your redraw without notice, never get hold of them on the phone, terrible customer service and not at all competitive, leaving them ASAP.
Took our money (and many others) from our re-draw without asking. During COVID 19 crisis! This must be illegal?? At the very least it is unethical. Pretty amazing considering my union recommended it. Doesn’t say much for my union I’m afraid (I think they now recommend an alternative bank). Communication appallingly bad.
Read full reviewTook our money (and many others) from our re-draw without asking. During COVID 19 crisis! This must be illegal?? At the very least it is unethical. Pretty amazing considering my union recommended it. Doesn’t say much for my union I’m afraid (I think they now recommend an alternative bank). Communication appallingly bad.
ME stands for a new kind of banking - one that's fairer, more transparent and is committed to great deals for its customers. ME was created by Australia's leading super funds and has award-winning home loans and term deposits, low-cost savings accounts, country-wide ATM access and banking experts that come to you at your convenience.
See ME home loans
loans.com.au
Smart Booster Home Loan
1.99% p.a.variable for 12 months and then 2.48% p.a. variable
2.47% p.a.
Bank of Queensland
Fixed Rate
2.09% p.a.
fixed 3 years
3.01% p.a.
People's Choice Credit Union
Fixed Rate Home Loan (Package)
1.99% p.a.
fixed 3 years
3.64% p.a.
loans.com.au
Smart Booster Home Loan
1.99% p.a.variable for 12 months and then 2.48% p.a. variable
2.47% p.a.
loans.com.au
Smart Booster Home Loan
1.99% p.a.variable for 12 months and then 2.48% p.a.
2.47% p.a.
Bank of Queensland
Economy
2.59% p.a.
2.76% p.a.
Bank of Queensland
Fixed Rate
2.09% p.a.
fixed 3 years
3.01% p.a.
People's Choice Credit Union
Fixed Rate Home Loan (Package)
1.99% p.a.
fixed 3 years
3.64% p.a.
loans.com.au
Smart Booster Home Loan
1.99% p.a.variable for 12 months and then 2.48% p.a.
2.47% p.a.
$0.00
Yard
Variable Home Loan Special
2.09% p.a.
2.12% p.a.
$0.00
GMCU
Basic Variable
2.33% p.a.variable for 24 months and then 3.82% p.a.
3.71% p.a.
$8.00 monthly
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.
