I love ME Bank, they are so easy to deal with and they keep you up-to-date with everything that is happening with your loan. The documents are easy to complete and even though it is all online, you can always ring and speak to someone who is able to help you.
How long does it take to approve a Personal Loan, so far it's been two weeks with text messages, request more info and to call back.....Hello why can't you call me, the answer can be provided and the loan application finalised. All this is too frustrating, if I knew that I wouldn't have applied with the slowest bank in Australia, I would have gone elsewhere. Wouldn't it be more professional if the staff reviewed your whole application then advised what other information is required, so far I've had 3 SMSs requesting more info and were now two weeks since I submitted the application. Last SMS was three days ago, I called them straight away and it was that I forgot to add the application fee of $250 on the amount I required...I said yes. Now you would have thought I would have received the final document to sign. Nope haven't heard a thing; Sorry ME your Management or processes needs a review. I have no problem with the call centre staff they've always been friendly and helpful...just your process on getting applications approved!!
During the life of my personal loan I went through many life changes. I was unemployed for 6 months during which I travelled overseas for 3 months. This is my second loan through ME Bank , and every time I rang to explain a difficulty, they had solutions and were always willing to be flexible.
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Personal loan comparisons on Mozo - rates updated daily
Low Rate Personal Loan
8.21% p.a.based on $30,000 over 5 years
Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 8.00% would cost $36,647.51 including fees.
*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. 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.
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