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Compare ME Bank home loan rates

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ME Bank, or Members Equity Bank, was founded in 1994 and is owned by a group of industry super funds.

It provides a range of home loans to customers, including owner-occupier mortgages, investor mortgages, refinancing loans and high-LVR loans, among others.

ME Bank is an online-only bank, meaning home loan applications must be completed over the phone or by arranging a meeting with a mobile home loan specialist. General customer service is also available online or over the phone.

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ME Bank home loans rates

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  • Loans have flexible options.
  • Award-winning customer service.
  • Opportunity to bundle loans with other products.
  • Some loans offer discounts on interest rates.
  • Limited branch network.
  • Some loans include fees.
  • Some loans have higher interest rates.
ME Bank customer service:

ME customers can contact the bank by either calling the National Customer Contact Centre or by requesting a call back. Customers wanting to book a mobile banker can do so through the ME website or by emailing customer support directly. ME Bank does not have a branch network, but does have a network of mobile bankers who can help work out your loan options and assist with the application form.

  • Customer service centre (phone, email)
  • Mobile app
  • Online banking
  • Mobile banking staff

How to Apply

Borrowers wanting to apply for an ME Bank home loan can either complete an online enquiry form, call the ME Bank customer hotline for assistance or book an appointment with an ME mobile banker. Before applying for an ME Bank home loan, consider what you can afford to borrow and what other costs you need to factor in. To apply for an ME Bank home loan, you will need to supply the following information:

  • Provide details of your income and employment.
  • Proof of identity.
  • Be a citizen or permanent resident of Australia or New Zealand.

About ME Bank home loans

ME Bank home loans are designed to cater to a range of potential borrowers, including owner-occupiers, investors, refinancers and upgraders.

Its home loan options range from basic no-frills home loans to more specialist high-LVR loans and home equity loans.

In terms of interest rates and repayments, ME Bank also offers a number of options:

  • Fixed-rate home loans
  • Interest-only home loans
  • Split home loans (part fixed, part variable)
  • Principal-and-interest home loans
  • Interest-only home loans

Because ME Bank doesn’t have any branches (and thus has lower overheads) it can offer competitive interest rates on home loans to borrowers. ME Bank’s interest rates tend to be moderately low to moderate depending on the type of home loan you choose.

ME Bank home loans have a maximum loan period of 30 years. Offset accounts and redraw facilities are also available with some home loans.

ME Bank home loan rates

ME Bank home loan interest rates tend to be low to moderately low based on the type of home loan taken out.

Borrowers choosing a basic owner-occupier principal-and-interest home loan with a deposit of at least 20 per cent (80 percent LVR) typically receive the lowest interest rates offered by ME Bank. Investors choosing interest-only home loans or high-LVR loans are likely to have a higher interest rate than basic borrowers.

Discounts on interest rates and fees may be available for customers choosing ME Bank’s Members Package, which includes a credit, transaction and savings account in addition to a home loan.

For Members Packages, upfront fees are typically very low while ongoing fees are high. For home loans only, upfront fees tend to be moderate while ongoing fees are very low.

ME Bank home loans review

ME Bank doesn’t have any branches, so ME Bank home loans are suited to borrowers who are comfortable meeting with a mobile home loan specialist and managing their ongoing needs online or over the phone.

ME Bank offers a variety of home loans to suit different types of borrowers, including basic owner-occupier borrowers and investors, as well as high-LVR borrowers. However, its home loan range doesn’t extend to SMSF home loans or low-doc home loans.

While ME Bank doesn’t necessarily offer the cheapest home loans on the market, its home loan rates tend to be moderately low to moderate. It also offers flexibility with offset accounts and redraw facilities on some home loans.

Customers wanting to manage all their banking accounts with ME Bank may also be able to take advantage of home loan rate discounts and reduced fees.


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