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 most competitive on the market.
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 are 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!
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.
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.
| Fixed | |
| 10.98% p.a. fixed | |
| 11.35% p.a.based on $30,000 |
| $250.00 | |
| $0.00 | |
| $25.00 | |
| $0.00 | |
| $0.00 |
| $5,000.00 | |
| $50,000.00 | |
| 1 Year | |
| 7 Years | |
| Unsecured |
| Weekly, Fortnightly, Monthly | |
| yes | |
| no | |
| none | |
| none |
WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. 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.
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 reviewME 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.
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 reviewNever 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.
ME Bank is amazing.
Read full reviewME Bank is amazing.
ME Bank for me was an ethical choice with the knowledge that I was getting a good interest rate. I like the idea that ME banks profits go back to help support our super funds. Lovely bank.
Read full reviewME Bank for me was an ethical choice with the knowledge that I was getting a good interest rate. I like the idea that ME banks profits go back to help support our super funds. Lovely bank.
No extra fees on early pay out.
Read full reviewNo extra fees on early pay out.
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SocietyOne
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MoneyMe
OneDebt Low Rate Personal Loan
6.25% p.a.to 19.95% p.a.
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Plenti
New Car Loan (Fixed)
4.89% p.a.to 9.99% p.a.
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4.74% p.a.to 16.01% p.a.
5.01% p.a.to 16.31% p.a.based on $30,000
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Car Loan - Excellent Credit (Fixed)
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Great Southern Bank
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6.79% p.a.
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OurMoneyMarket
Low Rate Personal Loan
5.45% p.a.to 8.48% p.a.
6.07% p.a.to 8.84% p.a.based on $30,000
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Alex Bank
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4.99% p.a.to 19.99% p.a.
4.99% p.a.to 19.99% p.a.based on $30,000
over 5 years
Plenti
Unsecured Personal Loan (Fixed)
6.39% p.a.to 7.49% p.a.
6.39% p.a.to 8.19% p.a.based on $30,000
over 5 years
Harmoney
Unsecured Personal Loan
5.35% p.a.to 19.09% p.a.
6.14% p.a.to 19.99% p.a.based on $30,000
over 5 years
SocietyOne
Unsecured Personal Loan (Fixed)
5.95% p.a.to 10.49% p.a.
5.95% p.a.to 12.83% p.a.based on $10,000
over 3 years
Symple Loans
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6.47% p.a.to 29.2% p.a.based on $30,000
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NOW Finance
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5.95% p.a.to 17.95% p.a.
5.95% p.a.to 17.95% p.a.based on $30,000
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MoneyMe
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6.25% p.a.to 19.95% p.a.
7.64% p.a.to 19.12% p.a.based on $30,000
over 5 years
