ME Bank home loans

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

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 may need to pay. 

To apply for an ME Bank home loan, you will need to supply the following information:

• Details of your income and employment
• Proof of identity
• Proof you are a citizen or permanent resident of Australia or New Zealand

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

ME Bank home loan interest rates tend to be lower than those of many larger banks. 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 more 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.

As well as looking at ME Bank’s home loan rates, it’s also important to consider the cost of upfront and ongoing fees before making an application.

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

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.

ME Bank home loan rates are often competitive when compared to those of the biggest banks, though they aren’t always the lowest rates on the market. However, they do offer flexibility, with offset accounts and redraw facilities available 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 by looking into package offers.