ME Personal Loan
10.98% p.a.
11.35% p.a.based on $30,000
over 5 years
$250
ME Personal Loan
10.98% p.a.
11.35% p.a.based on $30,000
over 5 years
$250
ME Personal Loan
10.98% p.a.
11.35% p.a.based on $30,000
over 5 years
$250
Mozo Review ME Personal Loan Review
Last updated: 22 November 2019.
What's hot:
Fixed repayments
No early repayment fees
No monthly account fees
What's not:
$25 late payment fee
$250 application fee
Mozo snapshot:
With the ME Bank personal loan there is a fixed 10.98% interest rate (11.35% comparison rate*) but you won't have any ongoing monthly fees or charges, so compared with other unsecured personal loans that charge you fees on top of the interest rate, this loan is one of the cheapest on the market.
Key features:
The ME Bank Personal Loan will be easy to budget for as it has a 10.98% p.a. fixed interest rate (11.35% p.a. comparison rate*), so each month you'll know exactly how much you need to pay. Loans start from $5,000 and go right up to $50,000 with loan terms ranging from 1 to 7 years.
The ME Bank Personal Loan is an unsecured loan so there's no need to offer up collateral such as a car, or property to secure the rate.
There's no fees for making extra loan repayments, but there's also no redraw allowed, so before making any extra repayments you'll want to make sure that you won't need that extra cash back in a hurry.
On top of this, there are no service fees, and if you pay your loan off early there are no early exit fees either. Just make sure you set up automatic monthly repayments so you don't miss a payment, or else you'll cop a $25 late fee. And remember to budget for the hefty $250 application fee!
Who it's good for:
The ME Bank Personal Loan could be a great option for you if you're looking for a top-notch fixed-rate loan so you can work your repayments into your budget. The ME Bank Personal Loan is an unsecured loan, which is great if you don't own a property or any other assets to use as collateral against the loan.
Any catches?
As with all personal loans, the longer the borrowing period, the more interest you'll pay, so even though this is a fixed-rate loan (and your repayments won't increase), if you can afford to pay back a little extra each month, you should aim to do so.
Details
Rates and fees information correct as at 20 January 2020. 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
-
Fixed
-
10.98% p.a. fixed
-
11.35% p.a.based on $30,000
over 5 years
Fees
-
$250.00
-
$0.00
-
$25.00
-
$0.00
-
$0.00
Other financial bits
-
$5,000.00
-
$50,000.00
-
1 Year
-
7 Years
-
Unsecured
Features
-
Fortnightly, Monthly
-
yes
-
no
-
none
-
none
Customer Reviews
How are ME personal loans rated by the Mozo community?
Latest reviews of ME Personal Loan
-
Great
No extra fees on early pay out.
Read full reviewNo extra fees on early pay out.
Price7/10Features6/10Customer service5/10Convenience7/10LessTrust5/10 -
They helped a lot.
They helped me at a time of need whereas my regular bank never helped.
Read full reviewThey helped me at a time of need whereas my regular bank never helped.
Price5/10Features5/10Customer service5/10Convenience5/10LessTrust8/10 -
l loathe borrowing from them
The fee is enormous.
Read full reviewThe fee is enormous.
Price1/10Features1/10Customer service2/10Convenience3/10LessTrust3/10 -
Good rates, easy to apply
Longstanding customer, good rates and easy to deal with.
Read full reviewLongstanding customer, good rates and easy to deal with.
Price7/10Features5/10Customer service6/10Convenience7/10LessTrust6/10 -
Reliable, excellent!
ME bank - savings for Union members, currently no processing fee for union members and an extremely low personal loan interest rate.
Read full reviewME bank - savings for Union members, currently no processing fee for union members and an extremely low personal loan interest rate.
Price9/10Features1/10Customer service9/10Convenience6/10LessTrust9/10
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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