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%

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

3.72% p.a.

3.74% p.a.

$0.00

ME Basic Home Loan

3.72% p.a.

3.74% p.a.

$0.00

3.82% p.a.

3.85% p.a.

$0.00

ME Basic Home Loan

3.82% p.a.

3.85% p.a.

$0.00

4.72% p.a.

4.74% p.a.

$0.00

ME Basic Home Loan

4.72% p.a.

4.74% p.a.

$0.00

4.32% p.a.

4.34% p.a.

$0.00

ME Basic Home Loan

4.32% p.a.

4.34% p.a.

$0.00

5.02% p.a.

5.05% p.a.

$0.00

ME Basic Home Loan

5.02% p.a.

5.05% p.a.

$0.00

4.32% p.a.

4.35% p.a.

$0.00

ME Basic Home Loan

4.32% p.a.

4.35% p.a.

$0.00

Mozo Review   ME Basic Home Loan Review

Last updated: 27 June 2019.

What's hot:
  • Low variable rate of 3.72% (3.74% 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 3.72% (3.74% 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 3.72% (3.74% comparison rate)* for owner occupiers and 4.32% (4.34% 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 July 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
  • 3.72% p.a.

  • n/a

  • n/a

  • n/a

  • 3.74% 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

*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 July 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
  • 3.82% p.a.

  • n/a

  • n/a

  • n/a

  • 3.85% 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

*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 July 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
  • 4.72% p.a.

  • n/a

  • n/a

  • n/a

  • 4.74% 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

*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 July 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
  • 4.32% p.a.

  • n/a

  • n/a

  • n/a

  • 4.34% 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

*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 July 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
  • 5.02% p.a.

  • n/a

  • n/a

  • n/a

  • 5.05% 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

*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 July 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
  • 4.32% p.a.

  • n/a

  • n/a

  • n/a

  • 4.35% 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

*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 901 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
    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 about 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

  • Overall
    8/10
    Great customer service, a very good online service

    Best of a bad lot- have always been happy, need branches though

    Best of a bad lot- have always been happy, need branches though

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

    Paul | Victoria

    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.

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3.49% p.a.

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$150

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3.51% p.a. variable

3.52% p.a.

$0

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Variable Home Loan

3.09% p.a.

3.05% p.a.

$0

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3.34% p.a.

3.34% p.a.

$0

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Homestar

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Star Essentials Home Loan

2.99% p.a.

2.99% p.a.

$0

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3.07% p.a.

3.08% p.a.

$0

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3.47% p.a.

3.48% p.a.

$150

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3.03% p.a.

3.05% p.a.

$520

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Bank of Queensland

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2 Year Intro Rate Variable Home Loan

3.54% p.a.variable for 24 months and then 4.01% p.a.

4.06% p.a.

$150

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Bank Australia

Bank Australia

Basic Home Loan

3.51% p.a.

3.52% p.a.

$0

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UBank

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UHomeLoan (1 Year Fixed)

n/a

n/a

$395

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Bank of Queensland

Bank of Queensland

Fixed Rate

2.99% p.a.
fixed 3 years

4.19% p.a.

$450

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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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ME

ME

Flexible Home Loan (Fixed, Member Package)

3.58% p.a.
fixed 3 years

4.26% p.a.

$200

Promoted

Tic:Toc

Tic:Toc

Fixed Home Loan

n/a

n/a

$0

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Bank Australia

Bank Australia

Basic Home Loan (Fixed)

3.64% p.a.
fixed 3 years

3.74% p.a.

$0

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UHomeLoan (Fixed)

3.24% p.a.
fixed 3 years

3.70% p.a.

$395

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Smart Loan Fixed (Package)

3.19% p.a.
fixed 3 years

3.63% p.a.

$520

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Smart Home Loan

3.03% p.a.

3.05% p.a.

$0.00

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UBank

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UHomeLoan - Discount Offer

3.34% p.a.

3.34% p.a.

$0.00

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Athena

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Variable Home Loan

3.09% p.a.

3.05% p.a.

$0.00

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Newcastle Permanent

Newcastle Permanent

Real Deal Home Loan

3.49% p.a.

3.49% p.a.

$0.00

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HSBC

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3.47% p.a.

3.48% p.a.

$0.00

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Bank Australia

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Basic Home Loan

3.51% p.a.

3.52% p.a.

$0.00

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Heritage Bank

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Discount Variable Home Loan

3.57% p.a.

3.62% p.a.

$0.00

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Hunter United

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No Regrets 1st Home Buyers

3.27% p.a.

3.37% 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.