The ME Bank Personal Loan helps you access extra cash for most non-business purposes. It is an unsecured loan available over fixed terms, and each repayment goes towards repaying both the interest and the principal.
The ME Bank Personal Loan features a simple pricing structure that supports our belief in easy to understand banking.
Loans can be taken out for terms of 1, 2, 3, 4, 5, 6 or 7 years, allowing you to choose a time period to suit your needs and your budget.
The amount of money you can borrow depends on your income and other financial commitments. The minimum amount you can borrow is $5,000 and the maximum is $50,000.
Yes. There are no charges or penalties for making additional payments or for repaying your loan early.
Interest is calculated daily and charged in arrears on the 15th day of each month.
Repayments can be made either monthly or fortnightly via direct debit from a nominated account. Download the ME Bank Personal Loan Direct Debit Form.
ME Bank customers can also make additional payments to their personal loan from other ME Bank accounts via internet banking.
Statements are issued half-yearly at the end of June and December. If you'd like a statement issued any other time, simply contact us on 13 15 63 or use our internet banking service to obtain your account balance.
No. The ME Bank Personal Loan is not available for business or business related purposes, including working capital. It is also not available for:
