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ME Bank personal loans
ME Bank was founded in 1994 by 26 of Australia’s leading industry super funds, and is today owned by BOQ.
ME provides its customers a wide range of financial products and services, including award-winning home loans, term deposit and savings accounts. ME also has more than 3000 ATMs across the country.
ME is an online-only operation, which means it doesn’t have branches. You can apply for personal loans online, however they also have a customer service line if you need to speak to someone.
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Why choose ME Bank
ME Bank Personal Loans
Personal Loans calculator
Use our personal loan calculator to see how much you’d have to repay under different borrowing scenarios.
Your estimated repayments
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- This is an estimate of how much you would pay (weekly/fortnightly/monthly) based on your borrowing amount, interest rate and loan term.
- Calculations assume that details entered into calculator, including interest rates, do not change for the lifetime of the loan.
- Interest is calculated by compounding on the same frequency as the repayment selected, i.e. weekly, fortnightly or monthly.
- Months are assumed to be of equal length. However, given that some months are longer than others, interest charged by vary depending upon the month.
- The calculation rounds of the personal loan repayment to the closest dollar value without decimals.
- All calculations are estimates only; there are no guarantees, pre-qualifications or pre-approvals for borrowing. All results are based solely upon the data entered into the calculator.
- Your final mortgage repayments or borrowing amount will depend on your lender’s eligibility criteria among other factors.
- Calculator does not include the cost of fees or other extra charges.
- Calculator does not account for changes to interest rates over time.
- This calculator is for information purposes only. Any advice is general and has not taken into account your personal circumstances. Read our full disclaimer.
Features of a ME Bank personal loan
ME offers fixed-rate, unsecured personal loans between $5000 and $50,000 for loan terms between one to seven years. Borrowers can choose to pay ME 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 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 personal loans – customer service
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, live chat or over the phone.
- Online banking
- Live online chat, Monday to Friday 9am to 5pm (AEST)
- Phone, Monday to Friday, 8am to 8pm and Saturday 9am to 5pm (AEST)
Who is eligible for a ME Bank personal loan?
To be eligible for a ME Bank personal loan you’ll need to meet the following criteria:
- Be 18 years or over
- Be an Australian citizen or permanent resident
- Open an account for personal use
- Have a good credit history
How to apply for a ME Bank personal loan?
To apply for a ME Bank personal loan, borrowers can apply online through the website. The application process takes around 10 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
ME Bank personal loans review
It’s worth noting that ME personal loan has no ongoing account-keeping fees, no early termination fee and no extra repayment charges.
ME personal loans are unsecured, which means borrowers don’t need to provide security when applying. 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 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 is 100 per cent online. Borrowers can contact ME via phone, online live chat and through email.
Before applying for a ME 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.
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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, target market determination fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.
