ME Bank offers personal loans between $5000 and $50,000 for periods between one to seven years. Borrowers can choose to pay ME Bank personal loans in either fortnightly or monthly instalments until the loan is paid off. A one-off establishment fee is included in the ME personal loan, but there are no ongoing fees attached to the loan. Borrowers wishing to pay off their ME Bank personal loan sooner can do so without penalty as there are no fees for extra repayments or early loan repayments.

ME Bank personal loans can be used for a range of different purposes including:

• Vehicles
• Boats
• Education fees
• Debt consolidation
• Home renovations
• Shares
• Holidays
• Medical bills
• Weddings

ME Bank doesn’t have any branches, but you can apply for a personal loan through the ME website. You can also talk to them via email or over the phone.

• Online banking
• Email
• Phone, Monday to Friday, 8am to 6pm and Saturday 9am to 5pm (AEST)

To be eligible for a ME Bank personal loan you’ll need to meet the following criteria:

1. Be 18 years or over
2. Be an Australian citizen or permanent resident
3. Open an account for personal use
4. Have a good credit history

To apply for a ME Bank personal loan, borrowers can apply online through the website. The application process takes around 10-15 minutes to complete and involves the following steps:

• Once you’ve compared your personal loan options, you can apply online from any device
• Once you’ve completed your personal loan application and provided supporting documentation, ME will review your application
• Once approved for a personal loan, the funds will be available in your account within two business days.

At the time of application, you’ll need to provide the following documentation:

• Proof of identity
• Proof of income and employment
• Details of any other assets and financial commitments

When it comes to comparing the ME Bank personal loan to other personal loans on the market, it’s worth noting that this personal loan has no ongoing account-keeping or annual fees. In addition to this, there is no charge for making additional repayments and no fees for paying off your personal loan before the loan term.

This ME Bank personal loan is unsecured, which means borrowers don’t need to provide security (i.e. collateral) when applying for the personal loan. This personal loan also has a fixed interest rate, which means your interest rate will stay the same throughout the loan term.

The ME personal loan can be used for a wide variety of purposes, including cars, holidays and debt consolidation. However, it can’t be used to pay business expenses, bills, or to fund a property purchase or tax costs.

Borrowers who prefer face-to-face customer support should take note that ME Bank is 100 per cent online. In saying that, borrowers can contact a ME lending specialist via phone, online and through email.

Before applying for a ME Bank personal loan, always do your research and compare your personal loan options to make sure you’re getting a loan that suits your budget, needs and lifestyle.