ME Bank (Members Equity Bank) is a national bank which was founded in 1994 with the vision to help everyday Australians fulfil their dreams of having their own home. ME was created by a group of industry super funds. As such, all profits are distributed back to the 26 super funds that own the bank.

Rates
Features
Fees
Other
Lender
Variable
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Basic Home Loan ($150k+, LVR < 80%)

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    Variable
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    Basic Investment Loan (Principal and Interest) (LVR < 80%)

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      Variable
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      Basic Home Loan ($150k+, LVR 90%-95%)

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        Variable
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        Basic Home Loan ($150k+, LVR 80%-90%)

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          • Immediate cashback upon settlement
          • $2000 for loans up to $700,000
          • $4000 for loans over $700,000

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          Important Information and Comparison Rate Warning

          Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of December 2, 2023.

          ME has won numerous awards, including Money magazine’s prestigious 2018 Money Minder of the Year award. ME supports a wide range of progressive causes in Australia, from marriage equality and paperless statements to a refusal to invest in fossil fuels. If you like your lender to be conscientious and forward-thinking, ME may be the bank for you.

          ME is an online-only bank with access to a network of mobile bankers instead of branches.

          ME Bank offers its customers a wide range of award-winning home loans, bank and transaction accounts, credit cards and business banking products. In terms of home loans, it provides owner-occupier mortgages, investor mortgages, refinancing loans and high-LVR loans.

          To apply for a home loan with ME Bank, you will need to go online or reach out to one of its mobile bankers through its customer contact centre.

          As always, it is best to be prepared before you apply for a mortgage, so double-check that you have all the necessary information ready and available before you apply. Here are some important things to know before applying for a loan:

          • You will need to be at least 18 years of age to apply for a home loan
          • You will need to be able to provide evidence of your income when you apply
          • Alongside your income, ME Bank will want to examine your assets and debts

          Once you have decided a home loan with ME Bank is right for you, you will need to fill out and submit an application form. Some of the details you may be asked to provide include:

          • Personal details including email address, residential status and driver’s licence number
          • Employment details including employer’s name and address, or if self-employed, you will need to provide the business name and ABN
          • Income
            • Salaried employee: PAYG summary, tax return, notice of assessment, payslips and other income, i.e. bank and other statements
            • Self-employed: Financial statements, business and personal tax returns, tax assessment notice and other income
          • Loan Purpose
            • Property purchase: Evidence of deposit, contract of sale and vendors statement
            • Construction: Evidence of deposit and building contracts
            • Refinancing/consolidating debt: Loan statements and credit card statements

          Collections: