| Purpose | Any worthwhile business or investment purpose (unless you are an individual investing in residential property – see our home loans) | |
|---|---|---|
| Loan type | Principal and Interest Loans up to 15 years Interest Only Loans up to 5 years | |
| Minimum amount | $60,000 | |
| Maximum amount | $1,000,000 | |
| Security | Eligible residential property | |
| Loan splitting | Available (minimum split $20,000) |
| Principal and interest payment terms up to 15 years |
| Interest only payments available up to 5 years |
| Minimum loan amount $60,000, maximum $1,000,000 |
| No ongoing account-keeping fees |
| Variable and fixed rate loan options |
| Redraw available on variable rate loans |
| Variable (p.a.) |
6.88% p.a.
|
|---|---|
| Fixed rates (p.a.)1 |
1 year - 6.39% p.a.
3 year - 6.39% p.a.
5 year - 6.99% p.a.
|
|
All interest rates quoted in the table above are base rates. A further margin may be added to the above interest rates for brokerage. 1 An additional customer margin will apply. | |
| Application fee2 | $500 (min.) |
|---|---|
| Valuation fee | Contact us for a quote |
| Legal fee | Contact us for a quote |
| PPSR – Individual | $175 |
| PPSR – Company | $175 |
| PPSR – Trust | $310 |
| Progressive drawing fee |
$150 (Charged at each drawing) |
| Excess disbursement fee (after the fourth disbursement) |
$15 (Charged at disbursement) |
| Redraw fee |
$50 (Charged at redraw) |
| Audit certificate fee |
$60/hr (min. of $100) (Charged upon certificate completion) |
|
Discharge fee per security |
$200 (Charged at discharge) |
|
Production fee |
$150 (Charged when a title is produced at a Land Titles Office) |
|
Consent fee |
$150 (Charged when we consent to a dealing at a Land Titles Office) |
|
Interim statement fee |
$5 per page (Charged immediately) |
|
Duplicate statement fee |
$5 per page (Charged immediately) |
|
Telegraphic transfer (TT) fee |
$25 per TT (Charged immediately) |
|
Inward cheque dishonour |
$25 (Charged immediately) |
|
Inward direct entry dishonour |
$25 (Charged immediately) |
|
Fixed Rate Break Costs |
Unascertainable (When additional repayments are made during a fixed rate period) |
|
Expired facility / re-approval fee |
0.10% (Charged upon approval of an application to vary or extend a loan) |
|
Variation documentation fee |
$250 (Charged upon documentation of a loan variation) |
|
Line fee |
0.25% p.a. (Charged on the facility limit in advance quarterly) |
|
Administration fee (for supervised constructions) |
0.10% p.a. (Charged on the facility limit in advance quarterly) |
|
Bank Guarantee – Application fee |
1.25% (min. $400) (Charged at application) |
|
Bank Guarantee – Six monthly fee |
1.25% (min. $400) (Charged every six months in advance) |
|
All interest rates quoted in the table above are base rates. A further margin may be added to the above interest rates for brokerage. 1 An additional customer margin will apply. 2 Application fees are the minimum amount payable for simple and straightforward applications. Higher fees may be based on the complexity of the borrowing arrangements. Factors considered include trust, company, guarantor and associated entity structures, financial structures and security types offered. | |
Book an appointment. |
Get competitive returns for your cash. |
Finance your next business purchase. |
Make an appointment with a Business Banking Manager to discuss your business needs. |
Access your business funds at-call and receive high interest. |
ME Bank's Asset Finance range may be a solution for your business needs. |
| BOOK | More | More |
Interest rates are current as at 23-May-2013 and are subject to change. If you would like to know today's market rates, call us on 1300 658 108. Fees and charges apply. Terms and conditions available on request. Applications are subject to credit approval.
These products are provided by Members Equity Bank Pty Limited (ME Bank) or its related entity, Industry Funds Management (Nominees 2) Pty Ltd (IFM2). Please note that IFM2 is not an authorised deposit taking institution and its obligations do not represent deposits or liabilities of ME Bank. ME Bank does not stand behind or guarantee the obligations of IFM2.
