Compare a range of home loans from ME.
ME, or Member's Equity, was established in 1994 by Industry Super Funds. ME offers a range of products, including fixed and variable rate home loans, savings accounts, credit cards, business banking and personal loans.
As of November 2012 ME decided to do away with bricks and mortar branches. Customers can apply and access loans or savings accounts completely online, via the telephone or through a mobile banker.
Not having a retail branch system means ME can offer competitive interest rates and low fees.
ME Home Loan Offer
ME Flexible Home Loan With Member Package - LVR <=80% $400k up to $699,999 (Owner Occupier, P&I)
variable rate
comparison rate
ME Home Loan Offer
Get the ME Flexible Home Loan With Member Package - LVR <=80% $400k up to $699,999 (Owner Occupier, P&I) home loan and enjoy competitive rate with no application fees.
- Interest rate of 3.69% p.a.
- Comparison rate of 4.11% p.a.
- Application fee of $0
- Maximum LVR: 80%
- Minimum borrowing: $400,000
- Max borrowing: $699,999
Compare ME Home Loans
What home loans does ME offer?
ME offers different home loans products which each suit different purposes and all are available for both owner occupier and investment purposes, so have a look below to find out the features each one has:
Basic Home Loan
This is a no-frills home loan which comes with a low interest rate, flexible repayment options and a high maximum LVR without expensive features you may not need.
ME doesn't charge application or annual fees, and also offers interest-only terms for up to 10 years with this loan.
ME Basic Home Loan
Flexible Home Loan
The Flexible Home Loan from ME offers a range of features for borrowers, and is available with variable, fixed or split rates.
Like the Basic Home Loan, the Flexible Home Loan comes with a high maximum LVR and flexible repayment options, as well as a redraw facility, offset account and interest-only options.
The loan is also available with the Member Package at a cost of $395 a year, allowing borrowers to save on a number of fees, including the valuation and solicitors fees. The Member Package also offers a lower interest rate.
ME Flexible Home Loan
Members Package
Further discounts are available for borrowers who take out all of their main accounts with ME. ME Flexible Home Loans are available with the Members Package for those customers who are willing to pay an annual fee in exchange for lower interest rates and discounts on fees and other ME products.
In addition to having your credit, transaction and savings accounts with ME, you’ll also need to pay an annual fee of $395 to be able to take advantage of the Members Package. The Members Package offers benefits such as:
- No annual fees with your ME Low Rate MasterCard, saving you $49
- No valuation fees with your loan, saving borrowers around $150
- No legal fees, saving borrowers approximately $150
- No fee for fixing all or part of your loan, saving $150
Even with ME's low fee home loans the fee for the Members Package is offset by $499 of savings at the onset of the loan. You can then save more each year through the further interest rate discount.
ME Flexible Home Loan with Members Package
Features of ME loans:
ME's products are suitable for first home buyers, self-employed borrowers, those looking to refinance, and finally those hoping to build or renovate their homes. ME’s loans may offer the following features:
- High maximum LVR: Most loans from ME have a maximum loan-to-value ratio (LVR) of 95%, meaning borrowers need only a 5% deposit. It should be noted, though, that you'll have to pay a lenders mortgage insurance (LMI) premium if your LVR is greater than 80%. The premium you will pay depends on the property value and the size of your deposit.
- Members discount: If you take out the Member's Package, you'll receive a lower interest rate on your home loan. The annual fee for this package is $395, and you’ll receive larger rate discounts again.
- Free redraw: Each of the loans on offer from ME has a free redraw facility attached to it. This means you can make additional repayments on your loan, and then withdraw any of these additional funds free of charge in the event of an emergency or for large purchases.
- Repayments: With most ME home loans you can choose to make your repayments weekly, fortnightly or monthly. Interest-only loans, however, must be repaid monthly.
What do I do if I’m interested in a product?
If you are interested in finding out more about one of the loans listed above you can click through to the product's review page or go to the ME website.
Before contacting ME directy be sure you meet their cirteria of eligibilty for a home loan below:
- Aged 18 years and above
- Are a citizen or permanent resident of Australia or New Zealand
Once confirming that you are eligible you can contact ME to organise a time to discuss your situation with an ME mobile banker. All you need to do is type in your name, email address, phone number, postcode and the loan amount and product you’re interested in, and a specialist will contact you.
I have a Flexible Home Loan with ME Bank and I would like to switch it to Basic Home Loan with lower interest rate. What would be right procedure to go about it? Thanks.
Hi Damian,
Thank you for your comment.
Generally, banks do offer flexible ways to help you with your loans considering your current situation. Regarding the procedure on how to go about switching your home loan from Flexible to Basic, it might be time to talk to your bank about getting a loan check up. One of their specialists can take a look through your current loan situation and help bring it up to speed. Hoping for the best.
Regards,
Jhezelyn
Hi, I do have loan and its 2 years fixed. But I do have few extra saving at the end of the year which I want to put to reduce my loan will I be able to do it.
Hope to get answer for my question.
Hi Sangita,
Thanks for reaching out.
Yes, you can make extra repayments up to $30,000 during the fixed interest rate period. Kindly note that you are not able to redraw from a fixed interest rate facility during the fixed rate period.
I hope this helps.
Cheers,
Liezl
I have a unemcumbered property worth 1.2 m. My wife and I receive Centrelink benefits. Would we be eligible for a loan up to $150,000.
Hi Francis,
Thanks for reaching out.
You can read our guide about home loans for Centrelink recipients which explains how you can go about applying for a home loan. Here, you can also view which Centrelink benefits are accepted by lenders and you can enquire with a mortgage broker to discuss your borrowing options.
Please note that most lenders only accept government benefits as a secondary source of income and they treat these types of applications on a case-by-case basis.
If you can prove to the lender that you have sufficient assets and savings to service the loan, you may be able to qualify for finance. However, keep in mind that a lender will also review your credit history and any existing debts that you have (e.g. personal loans or credit cards) when determining your propensity to repay the loan.
All the best,
Belinda
I have fixed interest home loan for 3yrs.can I make 100% offset account, and what will be the procedure . I have zero knowledge in this matter.
Rgds
Hi Vijay,
Thanks for your enquiry.
Fixed rate home loans don’t typically offer features such as 100% offset accounts, however there are some fixed home loans that do offer this feature or alternatively, a partial offset account.
To find out whether your lender offers a 100% offset account as part of your home loan, you’ll need to contact them directly.
Otherwise you can compare different lenders that offer fixed loans with 100% offset accounts on this page.
Thanks,
Belinda
how do i go about using some of my super as a deposit with savings i already have
Hi Trent,
Thanks for your question.
Are you referring to an SMSF home loan? At this current point in time ME Bank doesn’t have this facility available. If you’d like, you can compare a range of SMSF home loans on this page.
Cheers,
Shirley
What is your variable rate . Looking to refinance
Hi Kaan,
Thanks for your question.
Please refer to the link I’ve emailed you regarding ME Bank home loans.
Cheers,
Shirley
What is the maximum LVR allowed for a refinance?
Can i have my whole loan fixed, or does a portion have to be variable?
Hi Karen,
Thanks for your question.
The maximum LVR you can refinance to depends on the specific loan you choose to apply for. You can your whole loan either fixed or variable, again this depends on the specific type of loan you choose.
If you’d like advice on your home loan, you may want to speak to a mortgage broker.
Cheers,
Shirley
Can I use my cbus fund as a deposit for a home loan.
Hi Aaron,
thanks for the question.
Super can’t be used for a home loan deposit unless you have a Self Managed Super Fund (SMSF) being used to purchase an investment property.
I hope this helps,
Marc.
Can you use any of your C’bus super as a deposit on a house loan
Hello Tony,
thanks for the question.
In some cases super amounts in a self-managed super fund can be used to fund a property purchase. This page has more information on the process.
I hope this helps,
Marc.
I would like to apply for a home loan.
Thanks
Shane.
Hello Shane,
thanks for the question.
You can apply for a home loan from ME Bank by clicking the ‘Go to site’ buttons next to the relevant loan, or contacting ME Bank directly.
Cheers,
Marc.