ME Personal Loan

A fixed-rate personal loan with no monthly fees from $5,000.

This personal loan from ME is unsecured and you can use it for a range of purposes including debt consolidation or a large purchase. You can apply for up to $50,000.

Find out more about this loan in this review.

Product NameME Personal Loan
Interest Rate (p.a.)From 10.98% (fixed)
Comparison Rate (p.a.)11.35%
Interest Rate TypeFixed
Min Loan Amount$5,000
Max. Loan Amount$50,000


  • No monthly fees
  • No penalty for early repayments
  • Fixed interest rate


  • $250 application fee

Main points to consider about the ME Personal Loan

The ME Personal Loan comes with a fixed interest rate of 10.98. You can apply for between $5,000 and $50,000 and you'll have up to 7 year(s) to repay what you borrow.

The loan comes with no monthly or early repayment fees, but keep in mind a $250 application fee applies.

Features of the ME Personal Loan

  • Fixed interest rate. This loan comes with a fixed rate, meaning it won't change over the life of your loan. This rate is 10.98
  • Use for a range of purposes. You can use the loan for a variety of purposes such as consolidating debt or making a large vehicle. Note you cannot use the loan to pay a tax bill or for business reasons.
  • No annual or monthly account-keeping fees. The loan does not come with any monthly or annual account-keeping fees.
  • Flexible repayments. ME will not penalise you for making extra repayments in addition to your regular repayments, allowing you the flexibility to pay off your loan when you can. There is no fee if you pay out your loan early.
  • Loan terms. You can choose loan terms of between 1 and 7 year(s).
  • Loan amounts. You can apply for between $5,000 and $50,000, making this loan suitable for a range of purposes and budgets.
  • Establishment fee. There’s a one-off establishment fee of $250.

How to apply for ME personal loan

You can apply for the ME Personal Loan online. First, check you meet the eligibility requirements:

  • You're 18 years of age or older
  • You're are Australian permanent resident or citizen
  • You have a good credit rating

You can apply for this loan on your own or make a joint application. Keep the following on hand to complete your application:

  • ID documents such as your driver's licence
  • Information about your employment and income
  • Financial details such as your assets, liabilities and expenses

The application will take about ten minutes to complete. If you are approved, the funds will take approximately two business days to be transferred to your account.

Was this content helpful to you? No  Yes

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Privacy & Cookies Policy and Terms of Use, Disclaimer & Privacy Policy.

18 Responses

  1. Default Gravatar
    JohnSeptember 12, 2018

    What is the best way to obtain car finance for pensioners.Good credit rating ,no debts,own furniture and have been in premises for 7 years.Have some money in account but need to access app.$5000 to purchase a better class of vehicle.

    • finder Customer Care
      JoelSeptember 12, 2018Staff

      Hi John,

      Thanks for leaving a question on finder.

      Since you mentioned you are a pensioner, you can get a pensioner car loan. You don’t have to be working to get a car loan, as long as you still have some kind of income, such as Centrelink payments, a disability pension, age pension, or another kind of pension.

      However, your range of options will still be more limited than someone who is still in full time employment. To save time and avoid application fees, you’ll want to make each enquiry count.
      There are two possible ways to start:

      1. Find out how much you can borrow, and then find a car to match. If you want to know how much you can borrow and then pick out a car based on that amount, you can get pre-approved for a car loan. If this sounds like your style, find out how to get pre-approved car loans here.

      2. Decide what kind of car you want, then find a loan to match. This will often help you save money overall, because you might end up borrowing less, having lower repayments and finding a more competitive offer. Read on if you’re interested in doing it this way.

      To compare on lenders who can help you, please click HERE.


  2. Default Gravatar
    MariaAugust 22, 2016

    Hi I just need to ask a question I hv a loan from u guys but it nearly finished n I need to paid the of my loan left did I allowed to reduced my loan up thanks

    • finder Customer Care
      ElizabethAugust 22, 2016Staff

      Hi Maria,

      Just to clarify, you’ve come through to, not ME Bank. However, you are able to repay your personal loan to save on interest and you won’t be penalised. You can contact ME Bank directly to organise your early repayment.

      Hope this helps,


  3. Default Gravatar
    JohnMarch 5, 2016

    I have 1 default from 5 yrs ago it won’t go away in my credit record.
    It was pay long time ago.
    Will this effect my application?

    • finder Customer Care
      ElizabethMarch 7, 2016Staff

      Hi John,

      Thanks for your question.

      Credit defaults are listed on your file for a five-year period and then they are removed from the credit reporting agency, so you can expect it to be removed soon. Your credit file will be checked as part of the application and you need good credit in order to be approved. It would be best to confirm your eligibility with ME Bank before you apply.



  4. Default Gravatar
    johnNovember 4, 2015

    i own my home worth 700.000 i have 1 credit card i owe 8000 i need a loan that’s all i owe pls i owe 400 dolls on a another credit card but will pay that up me self with in 4 weeks
    i earn 1000 dollars a week i work 5 days thank you. John

    • finder Customer Care
      ElizabethNovember 5, 2015Staff

      Hi John,

      You’ve come through to not ME Bank. If you’re looking to apply for this personal loan you can submit your application on the ME Bank website.

      I hope this has helped.



  5. Default Gravatar
    DebJanuary 14, 2015

    I am a single mother receiving the single parent pension as well as child support. I am not employed. Am I able to apply for a loan?

    • finder Customer Care
      ShirleyJanuary 14, 2015Staff

      Hi Deb,

      Thanks for your question.

      Generally your primary source of income needs to come from an employer and your Centrelink benefits are considered as supplementary income. It’s advisable for you to speak to ME Bank directly first to discuss your options and eligibility.

      We also have an article on pensioner loans that may be of interest to you.


  6. Default Gravatar
    alecNovember 24, 2014

    I am on a tpi pension from veterans affairs, I net 1955 p/f+ 89 from centrelink I would like to know if I could get a loan?

    • finder Customer Care
      ShirleyNovember 25, 2014Staff

      Hi Alec,

      Thanks for your question.

      It’s advisable that you get in touch with ME Bank directly regarding this enquiry. Their customer service team will be able to assess your situation closely and advise on your options and eligibility.


  7. Default Gravatar
    michaelOctober 2, 2014

    I am looking to take my wife to the USA as a surprise 50th birthday present, but only work casually. I can provide my last 3 payslips but is there any other requirements, e.g., length of employment that is required (obviously a clear credit history is a must). I naturally need the loan in my name only otherwise the surprise will be ruined. Please let me know about length of employment and me being casual, would that effect anything. I’m looking at approx $10-15k

    • finder Customer Care
      ShirleyOctober 7, 2014Staff

      Hi Michael,

      Thanks for your question.

      To be eligible you’ll need to have been in casual employment for more than 6 months. ME Bank will also look at your previous employment and see whether you were employed in an different industry beforehand.

      Please note that the success of your application can not be guaranteed.

      All the best,

    • Default Gravatar
      October 14, 2014

      Hi Shirley,
      Thank you for your reply. I understand that I have to be in casual employment for 6 months, however my scenario may be slightly different. I have worked FULL time in the hospitality industry for 4 years before going to casual basis at the same hotel for a further 2 years where I still work. At the same time I have just started work (August) at the local hospital therefore have 2 casual positions. Will the fact that I have been employed as a casual for at least 2 years be of benefit to me if the loan application was to be assessed, or would they purely look at my current employment?

    • finder Customer Care
      ShirleyOctober 14, 2014Staff

      Hi Michael,

      Thanks for your question.

      This is a very specific question and so I think it might be best that you get in touch with ME Bank to discuss your eligibility.

      We don’t have access to information regarding their lending criteria, and so they will be able to give you a more informed answer.

      All the best,

  8. Default Gravatar
    JessieJuly 24, 2014

    what would my income need to be for a loan of $5000 over a 3-5year loan term?

    • finder Customer Care
      ShirleyJuly 25, 2014Staff

      Hi Jessie,

      Thanks for your question.

      Unfortunately this is very hard to say because the amount of money you can borrow depends on your income and other financial commitments.

      Please speak to the customer service team at ME Bank, without making any formal applications, for an indication.


Ask a question
Go to site