09-May-2013 • Corporate
More good news for borrowers today as ME Bank today cut its 5-year fixed loan rates across its Super Members Home Loan (SMHL) product range available to eligible super fund and union members*.
ME Bank’s 5-year fixed rates have been reduced by 0.20% p.a. to 5.59% p.a. (comparison rate 5.78% p.a.#), on both packaged and non-packaged loans.
ME Bank is offering competitive rates across its entire range of 5, 3 and 1-year fixed terms offered on its SMHL products, including a 3-year fixed rate of 4.99% p.a. (comparison rate 5.66% p.a.#), which is the lowest 3-year fixed rate in the market.
|
|
Fixed term
|
Previous rate
(% p.a.)
|
% p.a. + / -
|
New rate
(% p.a.)
|
Comparison rate#
(% p.a.)
|
|
SMHL – Standard Home Loan
|
5 years
|
5.79
|
-0.20
|
5.59
|
5.78#
|
|
SMHL – Interest Only Investment Loan
|
5 years
|
5.79
|
-0.20
|
5.59
|
5.90#
|
|
SMHL – Ultimate Offset Account
|
5 years
|
5.79
|
-0.20
|
5.59
|
6.10^#
|
Interest rates current as at 8/5/13 and subject to change. ^ Ultimate Offset Account fixed rates are only available on split loans and part of the split loan must have a variable rate. The example given assumes that the loan is split 50/50 between variable and fixed rate portions. Offset applies to only one variable portion if a split loan. # Comparison rates based on a loan of $150,000 for a term of 25 years, repaid monthly. 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. *A list of eligible super funds and unions can be found at mebank.com.au. Terms and conditions are available on request. Fees and charges apply. Applications are subject to credit approval. Members Equity Bank Pty Ltd ABN 56 070 887 679. Australian Credit Licence 229500.