18-Jun-2019 • Corporate
ME today announced a historic rate cut, slashing its 2 year fixed home loan rate to 3.43%p.a. – the lowest rate ever offered by the bank.
ME’s 2-year fixed rate is available to home loan customers with a Member Package1 (for owner occupiers paying principal and interest with an LVR <80%).
The bank has made further rate cuts across its fixed home loan range by as much as 30 basis points.
All changes are effective Tuesday 18 June 2019.
| Fixed Rate Term |
Previous fixed Rate |
Previous comparison rate2 |
Change |
New fixed Rate1 |
New comparison rate2 |
| Owner occupied |
| Flexible Home Loan with Member Package, Owner Occupied, Principal and Interest ≤80% LVR |
| 1 year |
3.84% p.a. |
4.34% p.a. |
-0.21% |
3.63% p.a. |
4.32% p.a. |
| Flexible Home Loan with Member Package, Owner Occupied, Principal and Interest ≤80% LVR |
| 2 Year |
3.74% p.a. |
4.31% p.a. |
-0.31% |
3.43% p.a. |
4.26% p.a. |
| Flexible Home Loan with Member Package, Owner Occupied, Principal and Interest ≤80% LVR |
| 4 year |
3.99% p.a. |
4.37% p.a. |
-0.21% |
3.78% p.a. |
4.30% p.a. |
| Flexible Home Loan with Member Package, Owner Occupied, Principal and Interest ≤80% LVR |
| 5 year |
3.99% p.a. |
4.37% p.a. |
-0.21% |
3.78% p.a. |
4.29% p.a. |
| Investment |
| Flexible Home Loan with Member Package, Investment, Interest only ≤80% LVR |
| 1 year |
4.69% p.a. |
4.64% p.a. |
-0.30% |
4.39% p.a. |
4.61% p.a. |
| Flexible Home Loan with Member Package, Investment, Interest only ≤80% LVR |
| 2 year |
4.39% p.a. |
4.63% p.a. |
-0.10% |
4.29% p.a. |
4.61% p.a. |
| Flexible Home Loan with Member Package, Investment, Principal and Interest ≤80% LVR |
| 3 year |
4.09% |
4.57% p.a. |
-0.21% |
3.88% p.a. |
4.51% p.a. |
Things you should know
(1) Interest rate is current as at 18-June-2019 and is subject to change.
(2) Home Loan comparison rates calculated 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. Fixed rate comparison rates only apply for loans with a loan amount of $150,000 to less than $400,000.
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