A mobile banking manager can visit you at a time and place convenient for you.
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| Suitable for | Investors looking to purchase, build or renovate a property |
|---|---|
| Minimum loan amount | $40,000 |
| Repayment options | Monthly repayments |
| Fewer and lower fees | No application fee or ongoing account-keeping fees |
| Redraw |
Free redraw on variable rate loans |
| We'll come to you | Book a Mobile Banking Manager to come to your home or workplace |
| Pay off your loan sooner | Combine with a Member Package and receive a lower variable rate on your loan |
| No application fee or ongoing account-keeping fee |
| Borrow up to 95% of the property valuation |
| Fixed, variable or split loan options |
| Monthly repayments only |
|
Interest only for up to 5 years (reverting to principal and interest at the end of the interest only period) |
|
Choose loan periods from 5 to 30 years |
| Fixed rate loans available for 1, 3 or 5 years |
| Make additional repayments to variable rate loans at no extra charge |
| Free redraw facility on variable rate loans (minimum redraw $500) |
| Eligible Members | Non-members | |||
| Rate | Comparison rate | Rate | Comparison rate | |
| Variable | 5.63% p.a. | 5.65% p.a. | 6.08% p.a. | 6.10% p.a. |
| 1 year fixed | 5.09% p.a. | 5.65% p.a. | 5.59% p.a. | 6.10% p.a. |
| 3 year fixed | 4.99% p.a. | 5.65% p.a. | 5.49% p.a. | 6.10% p.a. |
| 5 year fixed | 5.49% p.a. | 5.65% p.a. | 5.99% p.a. | 6.10% p.a. |
|
If you are a member of an eligible super fund or union, you qualify for a Super Members Home Loan (SMHL) and can save up to 0.45% p.a. off the Members Equity Home Loan variable interest rates. With more than 150 super funds and unions involved, more than 5.5 million Australians are eligible for our super low rates - so there's a very good chance you or your partner could be one of them. If you’re retired, but were a member in the past, you’re still eligible. | ||||
|---|---|---|---|---|
| Application fee | No fee |
|---|---|
| Account-keeping fee | No fee |
| Solicitor's fee Our solicitors prepare the mortgage and attend to settlement of your property and this fee covers some of our costs. |
$150 (waived under a Member Package) |
| Valuation fee We may need to value your property and this fee is charged per property valued and covers some of our costs. This fee applies to contracts settled on or after 1 July 2011. It is waived if you have a Member Package. |
$150 (waived under a Member Package) |
| Agent fee Payable at or before settlement if our external solicitors are required to instruct an agent to conduct the settlement (e.g. settlements which take place in rural areas). |
$110 |
|
Lenders Mortgage Insurance (LMI) |
Call us |
| Interest Rate Variation Fee This fee is payable when you change your variable rate loan to all or partial fixed rate loan. It is waived if you have a Member Package. |
$150 (waived under a Member Package) |
|
Setup recovery fee |
$600 |
| Production of title | $150 |
| Full or partial discharge of mortgage | $200 |
| Plan of subdivision | $150 |
| Security substitution fee | $200 |
| Removal of a borrower or guarantor | $200 |
| Consent to a dealing | $150 |
| Security substitution fee | $200 |
| Bank cheques purchase and repurchase | $10 |
| Bank cheque replace | $10 |
|
Dishonour inward (direct entry initiated by ME Bank) |
$20 |
|
Dishonour outward (direct entry initiated by another financial institution) |
N/A |
| EFTPOS | N/A |
| ATM cash withdrawals and balance enquiries at ME Bank, Westpac, Bank of Melbourne, St.George or BankSA ATMs (except ATMs at BP stations) |
N/A |
| Bank@PostTM | N/A |
| Cheque written | N/A |
| Dishonour outward
(cheque payment initiated by ME Bank) |
N/A |
| Dishonour inward
(cheque payment initiated by another financial institution) |
$20 |
| Cheque stop payment | N/A |
| Cheque trace | N/A |
| Copies of vouchers |
N/A |
| Statements
(duplicate or interim) |
No fee |
Saving for your first home? |
Looking for an all-in-one home loan? |
Investing in property? |
We can help make it easier with high interest from ME Bank plus contributions from the government. |
A home loan with offset account will reduce the amount of interest you pay, so you can pay off your loan sooner. |
Our Interest Only Investment Loan is ideal for those investing in property. |
| More | More | More |
Interest rates are current as at 19-Jun-2013 and are subject to change. Fees and charges apply. Terms and conditions available upon request. Applications are subject to credit approval.
Comparison rates calculated on a loan of $150,000 for a term of 25 years, repaid monthly. WARNING:This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
