8.3 / 10

based on 2080 ME banking product reviews as rated by Mozo community

ME personal loans

ME is an online-only bank that originally started as an investor home loan lender over 20 years ago. Today it offers a range of banking solutions from term deposits and savings accounts to everything in between. Continue reading for the lowdown on the ME unsecured personal loan for Australians who have dreams of financing things faster.

ME offers the following personal loans

Rates and fees verified as correct at 01 August, 2021. Other information correct at the time of writing. Advertiser disclosure.

Product Interest rate from Comparison rate from Upfront fee
Personal Loan (Fixed, Unsecured)

10.98% p.a.

11.35% p.a.based on $30,000
over 5 years

$250

ME personal loans overview

Unsecured personal loan:

If you don’t have an asset to tie against your personal loan as security, the ME unsecured loan could be just for you. It has a competitive fixed rate and loan amounts range from $5k to $50k on terms between one and seven years, plus there are no ongoing monthly costs. ME allows you to make additional loan repayments fee-free and you can repay your loan before the due date without penalty. Just keep in mind there is no redraw facility to dip into additional repayments and you’ll need to pay a sign on fee when you first take out the loan. While you can use the loan to help finance all kinds of personal purchases, it cannot be used to consolidate debts.

ME personal loan features at a glance

How do you apply for a ME personal loan?

Simply do it through the ME website and call its customer service number if you have any questions. ME will keep you posted on the progress of your application, and the turnaround shouldn’t be longer than a few business days.

To apply for a personal loan with ME you will need:


How are ME personal loans rated?

Mozo users have rated ME personal loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of personal-loans
ME personal loans
Overall
8.3/10
Price
Features
Customer service
Convenience
Trust

105 Reviews

Recent ME personal loan reviews

ME Personal Loan
Overall 10/10
heroes

ME bank saved us when we needed it the most and for an incredibly competitive rate, we are forever grateful for the no fuss service ME bank has provided us over the years.

Read full review

ME bank saved us when we needed it the most and for an incredibly competitive rate, we are forever grateful for the no fuss service ME bank has provided us over the years.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Shanon, Queensland, reviewed about 1 month ago
ME Personal Loan
Overall 1/10
Scam artists, simply avoid like the plague!

Avoid at all costs. They botched my personal loan repayments, and when I was 6 months out from finishing my loan, I get a call telling me I owed another $4000 and they wanted to extend my loan for another 6 months - I ALWAYS paid my minimum repayment and often more. Absolute scam artists. I of course wasn't having it, and I got a solution, but it took a lot of stress and advocating on my own behalf to get that resolution. And they refused to give me a breakdown of all my repayments and interest charged over the period of the loan - very strange and I'm sure they're hiding something there.

Read full review

Avoid at all costs. They botched my personal loan repayments, and when I was 6 months out from finishing my loan, I get a call telling me I owed another $4000 and they wanted to extend my loan for another 6 months - I ALWAYS paid my minimum repayment and often more. Absolute scam artists. I of course wasn't having it, and I got a solution, but it took a lot of stress and advocating on my own behalf to get that resolution. And they refused to give me a breakdown of all my repayments and interest charged over the period of the loan - very strange and I'm sure they're hiding something there.

Price
8/10
Features
2/10
Convenience
1/10
Trust
1/10
Less
Belinda, New South Wales, reviewed 3 months ago
ME Personal Loan
Overall 9/10
Great rates and service with easy online procedure

Quick service, easy to sign up and very happy with the rates. Will stick with them

Read full review

Quick service, easy to sign up and very happy with the rates. Will stick with them

Price
9/10
Features
9/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Marie, Victoria, reviewed 5 months ago
ME Personal Loan
Overall 1/10
Never use this bank!

Never have I ever been so stressed in my life. I called to get a payout figure and pay the personal loan out as a requirement of my mortgage. I explained this to ME Bank during our phone conversation, that the fund would be coming from a 3rd party to pay it out, once this hit I would then close the account. Not sure what happened, but ME Bank took the outstanding loan amount from my personal bank account which then left in in a massive $6k negative with no money at all for the weekend. No resolution at all other than, they would pay the the fees that would be charged for the account being in such a huge debit. Absolutely disgusted is an understatement, I will never use this bank again and will strongly urge everyone I know to steer clear.

Read full review

Never have I ever been so stressed in my life. I called to get a payout figure and pay the personal loan out as a requirement of my mortgage. I explained this to ME Bank during our phone conversation, that the fund would be coming from a 3rd party to pay it out, once this hit I would then close the account. Not sure what happened, but ME Bank took the outstanding loan amount from my personal bank account which then left in in a massive $6k negative with no money at all for the weekend. No resolution at all other than, they would pay the the fees that would be charged for the account being in such a huge debit. Absolutely disgusted is an understatement, I will never use this bank again and will strongly urge everyone I know to steer clear.

Price
5/10
Features
5/10
Customer service
1/10
Convenience
5/10
Trust
1/10
Less
Jade, New South Wales, reviewed 6 months ago

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Personal loan quick links