ME Basic Home Loan

This product is available in different versions. Pick the right version for you here.

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

The details shown below are for an owner occupier taking out a principal & interest loan of at least $40,000 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: $40,000

  • Owner Occupier (Principal & Interest)

    LVR 80%-95%

    Loan: $40,000

  • 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

3.57% p.a.

3.59% p.a.

$0.00

ME Basic Home Loan

3.57% p.a.

3.59% p.a.

$0.00

3.92% p.a.

3.94% p.a.

$0.00

ME Basic Home Loan

3.92% p.a.

3.94% p.a.

$0.00

4.57% p.a.

4.59% p.a.

$0.00

ME Basic Home Loan

4.57% p.a.

4.59% p.a.

$0.00

4.17% p.a.

4.19% p.a.

$0.00

ME Basic Home Loan

4.17% p.a.

4.19% p.a.

$0.00

4.87% p.a.

4.90% p.a.

$0.00

ME Basic Home Loan

4.87% p.a.

4.90% p.a.

$0.00

4.34% p.a.

4.37% p.a.

$0.00

ME Basic Home Loan

4.34% p.a.

4.37% p.a.

$0.00

4.54% p.a.

4.57% p.a.

$0.00

ME Basic Home Loan

4.54% p.a.

4.57% p.a.

$0.00

Mozo Review   ME Basic Home Loan Review

Last updated: 23 July 2019.

What's hot:
  • Low variable rate of 3.57% (3.59% comparison rate)*

  • Free extra repayments and redraw facility

  • Repayment holiday feature

  • No service or application fees

What's not:
  • No offset account

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 3.57% (3.59% 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 the best deal.

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 best variable rate starts from 3.57% (3.59% comparison rate)* for owner occupiers and 4.17% (4.19% comparison rate)* for investors.

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.

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

Who it's good for:

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.

Any catches?

There is no offset account option with this loan which may not suit the needs of everyone. 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.

Details

Rates and fees information correct as at 16 September 2019. 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
  • 3.57% p.a.

  • n/a

  • n/a

  • n/a

  • 3.59% 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

  • 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 16 September 2019. 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
  • 3.92% p.a.

  • n/a

  • n/a

  • n/a

  • 3.94% 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%

  • 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 16 September 2019. 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
  • 4.57% p.a.

  • n/a

  • n/a

  • n/a

  • 4.59% 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 16 September 2019. 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

  • 4.19% 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 16 September 2019. 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
  • 4.87% p.a.

  • n/a

  • n/a

  • n/a

  • 4.90% 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 16 September 2019. 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
  • 4.34% p.a.

  • n/a

  • n/a

  • n/a

  • 4.37% 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 16 September 2019. 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
  • 4.54% p.a.

  • n/a

  • n/a

  • n/a

  • 4.57% 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 customer rating
8.7/10

Based on 902 ME home loan reviews

Price
8.6/10
Features
7.9/10
Customer service
8.6/10
Convenience
7.5/10
Trust
8.7/10

Latest reviews of ME Basic Home Loan

  • Overall
    10/10
    Would use them again

    Never had a problem with ME. They are a good bank.

    Never had a problem with ME. They are a good bank.

    Price
    10/10
    Features
    5/10
    Customer service
    10/10
    Convenience
    5/10
    Trust
    10/10

    Daniel | Tasmania

    reviewed about 1 month ago

  • Overall
    10/10
    Great bank with great rates

    Great bank. Great rates

    Great bank. Great rates

    Price
    10/10
    Features
    -
    Customer service
    -
    Convenience
    -
    Trust
    -

    Tom | South Australia

    reviewed over 2 years ago

  • Overall
    9/10
    Easy to deal with every time

    Great bank to trust always reasonable rates don't hear of exorbitant ceo salaries and share prices

    Great bank to trust always reasonable rates don't hear of exorbitant ceo salaries and share prices

    Price
    9/10
    Features
    8/10
    Customer service
    9/10
    Convenience
    7/10
    Trust
    8/10

    Julie | South Australia

    reviewed over 3 years ago

  • Overall
    8/10
    They are great

    I am happy with them there are always there to answer any questions I have

    I am happy with them there are always there to answer any questions I have

    Price
    8/10
    Features
    7/10
    Customer service
    10/10
    Convenience
    8/10
    Trust
    7/10

    Molly | New South Wales

    reviewed over 3 years ago

  • Overall
    7/10
    More help with offers

    Always very helpful staff, not sure we are getting the best deal.

    Always very helpful staff, not sure we are getting the best deal.

    Price
    5/10
    Features
    5/10
    Customer service
    8/10
    Convenience
    6/10
    Trust
    7/10

    Christy | Tasmania

    reviewed over 3 years ago

ME

About ME

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

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Flexible Home Loan (Member Package)

4.51% p.a.

4.91% p.a.

$395.00 yearly

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3.83% p.a.

$395.00 yearly

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3.03% p.a. variable

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$520

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3.09% p.a. variable

3.09% p.a.

$0

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3.09% p.a. variable

3.05% p.a.

$0

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ME

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Flexible Home Loan (Member Package)

3.34% p.a. variable

3.78% p.a.

$200

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ANZ

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Simplicity PLUS

3.38% p.a. variable

3.42% p.a.

$0

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Newcastle Permanent

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Real Deal Home Loan

3.32% p.a. variable

3.36% p.a.

$0

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Bank of Queensland

Bank of Queensland

Fixed Rate

2.99% p.a.
fixed 3 years

3.79% p.a.

$450

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Homestar

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Star Essentials Home Loan

2.99% p.a. variable

3.02% p.a.

$596

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Smart Home Loan

3.03% p.a.

3.05% p.a.

$520

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UBank

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UHomeLoan - Discount Offer

3.09% p.a.

3.09% p.a.

$0

Promoted

Athena

Athena

Variable Home Loan

3.09% p.a.

3.05% p.a.

$0

Promoted

ANZ

ANZ

Simplicity PLUS

3.38% p.a.

3.42% p.a.

$0

Promoted

ME

ME

Flexible Home Loan (Member Package)

3.34% p.a.

3.78% p.a.

$200

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Homestar

Homestar

Star Essentials Home Loan

2.99% p.a.

3.02% p.a.

$596

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HSBC

HSBC

Home Value Loan

3.17% p.a.

3.19% p.a.

$150

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Suncorp

Suncorp

Back to Basics

3.29% p.a.

3.30% p.a.

$0

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UBank

UBank

UHomeLoan (Fixed)

2.99% p.a.
fixed 3 years

3.45% p.a.

$395

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IMB Bank

IMB Bank

Fixed Home Loan

2.99% p.a.
fixed 3 years

3.51% p.a.

$799

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loans.com.au

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Fixed Home Loan

3.19% p.a.
fixed 3 years

3.43% p.a.

$520

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Newcastle Permanent

Newcastle Permanent

Fixed Rate Home Loan (Premium Plus Package)

2.99% p.a.
fixed 3 years

4.10% p.a.

$0

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UBank

UBank

UHomeLoan (1 Year Fixed)

n/a

n/a

$395

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Mortgage House

Mortgage House

Fix and Save

n/a

n/a

$840

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Smart Loan Fixed (Package)

3.19% p.a.
fixed 3 years

3.63% p.a.

$520

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IMB Bank

IMB Bank

Fixed Home Loan

2.99% p.a.
fixed 3 years

3.51% p.a.

$799

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loans.com.au

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Smart Home Loan

3.03% p.a.

3.05% p.a.

$0.00

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UBank

UBank

UHomeLoan - Discount Offer

3.09% p.a.

3.09% p.a.

$0.00

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Athena

Athena

Variable Home Loan

3.09% p.a.

3.05% p.a.

$0.00

Promoted

ME

ME

Flexible Home Loan (Member Package)

3.34% p.a.

3.78% p.a.

$395.00 yearly

Promoted

ANZ

ANZ

Simplicity PLUS

3.38% p.a.

3.42% p.a.

$0.00

Promoted

Newcastle Permanent

Newcastle Permanent

Real Deal Home Loan

3.32% p.a.

3.36% p.a.

$0.00

Promoted

Homestar

Homestar

Star Essentials Home Loan

2.99% p.a.

3.02% p.a.

$0.00

Promoted

Bank Australia

Bank Australia

Basic Home Loan

3.35% p.a.

3.36% p.a.

$0.00

*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.