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Enjoy variety? Explore your options with a variable interest rate home loan.
Variable rate home loan.
Enjoy variety? Explore your options with a variable interest rate home loan.
Comparison rate
5.90%p.a.2
New owner occupier, principal and interest, maximum 80% LVR4 loan amount $150,000 or more.
Switch now and get $3k cashback.5
Enjoy the flexibility of extra cash in your back pocket when you refinance to ME.
Available to owner occupiers and investors on all ME home loan products if you:
- Apply from 08/09/2023, and settle within 120 days of the loan application date
- Switch your existing home loan from another lender
- Take out a home loan with a minimum size of $700k and maximum LVR of 80%
Find out more
Basic Home Loans.
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One low variable rate, no application fee and zero monthly account keeping fees. That’s a no-nonsense Basic Home Loan with ME. If only everything was this simple.
Learn about our Basic Home Loans.
Low variable rate.
Keep it simple with our no-frills, award-winning home loan.
Fee-free redraw.
Get cash when you need it (minimum $500).
No annual or monthly fees.
No need to worry about any extra add-ons.3
Browse our rates.
See all Owner Occupied and Investor home loan rates.
See all rates
Basic Home Loan - Principal and interest, loan amount less than $150,000
| Loan to value ratio4 |
Interest rate1 |
Comparison rate2 |
Reference rate |
Discount/Margin |
| 80% or less |
8.20% p.a. |
8.22% p.a. |
7.73% p.a. |
+0.47% p.a. |
| Above 80% and less than or equal to 90% |
8.46% p.a. |
8.48% p.a. |
7.73% p.a. |
+0.73% p.a. |
| More than 90% |
8.46% p.a. |
8.48% p.a. |
7.73% p.a. |
+0.73% p.a. |
Basic Home Loan - Principal and interest, loan amount $150,000 or more
| Loan to value ratio4 |
Interest rate1 |
Comparison rate2 |
Reference rate |
Discount/Margin |
| 80% or less |
5.88% p.a. |
5.90% p.a. |
7.73% p.a. |
-1.85% p.a. |
| Above 80% and less than or equal to 90% |
6.09% p.a. |
6.11% p.a. |
7.73% p.a. |
-1.64% p.a. |
| More than 90% |
7.52% p.a. |
7.54% p.a. |
7.73% p.a. |
-0.21% p.a. |
Loan details at a glance
Borrowing capacity
Up to 95% of property value
Extra repayments
Unlimited, with no penalty
Repayment options
Weekly, fortnightly or monthly
Interest only payments: Investor
Up to 10 years
Interest only payments: Owner occupier
Up to 5 years
Fees that may be payable before you settle
Government fees and charges
May apply by state
Search fees
Differ by state
Lenders mortgage insurance
Cost varies
Fees that may be payable after you settle
Consent to a dealing fee
$250
Security substitution fee
$350
Lender's Mortgage Insurance (LMI)
Cost varies
Government fees and charges
As applicable per state
Subdivision approval valuation fee
Cost varies
Telegraphic transfer fee
$30
Productions of title fee
$250
Security discharge preparation fee
$350
Search fees
Differ by state
Contact ME.
We keep our call centre in Australia, so we can focus on providing a high level of service and support to our customers.
Talk to ME.
We're available to help from Mon-Fri 8am-8pm (AEST/AEDT) Sat 9am-6pm (AEST/AEDT)
1300 540 181
Call ME later.
Set up a time that works for you. Our specialists can call, video chat or even do a home visit.
Book in with ME.
Meet ME.
Find a local home loan specialist in your area – then meet in a way that best suits you.
Meet our bankers.
Interested in applying for a variable rate home loan?
Big decisions like a new
new variable interest rate home loan don’t happen overnight.
Start with a quick, no obligation chat at a time that works for you.
Our home loan experts will aim to contact you within 24 hours.
Alternatively, you can call us on 1300 843 064.
We’re available to help from
Mon–Fri 8am–8pm (AEST/AEDT)
Sat 9am–6pm (AEST/AEDT)
Interested in applying for a variable rate home loan?
Big decisions like a new new variable interest rate home loan don’t happen overnight.
Start with a quick, no obligation chat at a time that works for you.
Our home loan experts will aim to contact you within 24 hours.
Alternatively, you can call us on 1300 843 064.
We’re available to help from
Mon–Fri 8am–8pm (AEST/AEDT)
Sat 9am–6pm (AEST/AEDT)
Calculate with ME.
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Determine the loan, get the home – compare your options with these practical calculators.
Compare loans.
Compare home rates and features side by side with our nifty comparison calculator.
Compare our loans
Want to learn more? Explore The Feed.
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From home loans to general finance, learn more with ME.
What are my home loan options?
It’s important to know all the options available to you. Discover more about home loan features.
Learn more about your home loan
Why should I be comparing loans?
Checking out the competition ensures that you are getting the best deal. Find out how to compare home loans to get the best deal for you.
Learn how to compare home loans
Home loan repayments 101.
You can get on top of your repayments by understanding them better. Here are a few things to help you better understand them.
Understand home loan repayments
Frequently asked questions.
What is a variable rate home loan?
A variable rate can shift as changes happen in the home loan market, which can push rates up or down. That can be good for you if rates are getting cheaper, or it can increase your expenses if rates go up.
Is it better to get a fixed or variable home loan?
There is no correct answer as to which type of home loan is best. Both types come with their ups and downs. Fixed rates lock in a consistent interest rate, regardless of market changes, offering security and peace of mind knowing you will be paying the same repayments. A variable rate can shift as changes happen in the home loan market. If rates get lower, it can reduce your repayment and by the same token, increases in the home loan rate will increase your expenses. But there are advantages to having a variable rate beyond just a possible lower rate.
If I have a bit of extra cash, can I pay off a variable loan early?
If you’ve got a variable rate home loan with ME, you can make as many extra repayments as you want, with no penalty whatsoever. With no extra payment limit, and the ability to make lump sum or regular repayments, you’ll get to pay off your variable home loan faster. Plus it gives you a chance to build more equity when rates are low, your salary goes up or you’re just having a good spending month.
Can I have both variable and fixed?
With ME, you can. If decision-making isn’t your forte (or you just aren’t sure what’s best), under ME’s Flexible Home Loan, you can have the best of both worlds. Being able to split your home loan between fixed and variable rates means you get to enjoy the benefits of both. Whether that means a 100% variable or a split between the two is entirely up to you, but it means regardless of what’s happening in the market, you’ll be somewhere in the middle.
What are ME’s other home loan options?
Check out ME’s Flexible Home Loan
here.
Looking for a home loan with more features?
Check out our Flexible Home Loan.
The legal stuff.
The legal stuff.
Home loan terms and conditions (PDF)
*This does not apply if you have a Member Package.
(1) Interest rates are current as at
22-May-2025and are subject to change. The variable interest rate may include a discount or margin that is applied to the product’s variable reference rate. Discounts are offered to new home loan applications only. The discount cannot be used with any other rate promotion. Existing applications, internal refinances, top ups, additional advances or variations of existing home loans are not eligible. We may change or withdraw any discount or margin at any time.
(2) Home Loan comparison rates are based on a loan of $150,000 for a term of 25 years, repaid monthly. For variable loans with interest only repayments, the comparison rates are based on an initial 5-year interest only period. WARNING: These comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in different comparison rates. The comparison rates for fixed loans with interest only repayments are based on the interest only period being equal to the fixed rate term.
(3) Solicitor, valuation and agent fees may apply.
(4) Loan to Value Ratio (LVR) is the loan amount divided by the value of your property (determined by ME at assessment), multiplied by 100. The LVR value compares the amount you have owning on your home loan against the actual value of your property. For example, if your property was valued at $400,000 and your loan amount was $340,000, your LVR would be 85%.
(5)
ME Cashback terms and conditions.
A $3,000 cash back offer is available on refinances of an existing home loan from another financial institution with a minimum new lending of $700,000 and a loan to value ratio (LVR) of up to 80%. This minimum amount cannot be split across multiple applications. To be eligible for this offer, applications must be received from 15 June 2024 and settle within 120 days of the loan application date.
This offer is not available where any of the loan proceeds are for the refinance, restructure, switches, or top ups of home loans from ME or from other lenders within the Bank of Queensland (BOQ) Group which includes BOQ, BOQ Specialist and Virgin Money (Australia).
This offer is available to Owner Occupier and Investors on all ME home loan products but is not available to applications for Owner-Occupied loans with interest only repayments. A home loan application involving both a purchase and refinance is not eligible.
Only one cash back will be paid per qualifying home loan application regardless of the number of borrowers. In the case of multiple qualifying applications, only one cash back will be paid per separate security property.
The cash back amount will be paid within 60 days of loan settlement into the ME Everyday Transaction Account (ETA) held by the borrower first listed on the application. In the event the first listed borrower doesn’t hold an ETA, the cash back will be credited to the home loan it applies to. Terms, conditions, fees, and charges apply. Applications are subject to credit approval. The offer can be withdrawn or varied at any time.