Business Lending Rates, Fees & Charges
Interest Rates
| Variable (p.a.) | Fixed Rates - Years (p.a.) | ||||||
|---|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 3 + 3 | ||
| Residentially Secured Business Loan | 8.58% | 8.25% | 8.25% | 7.99% | 7.99% | 7.99% | 10.42% |
| Small Business Loan | 8.95% | 4.30% + | 4.70% + | 5.10% + | 5.40% + | 5.50% + | 5.89% + |
| Commercial Loan | 5.17% + | 4.30% + | 4.70% + | 5.10% + | 5.40% + | 5.50% + | 5.89% + |
| Development Loan | 5.17% + | ||||||
| Standard Home Loan ^ |
7.59% 7.65%* |
8.19% 7.71%* |
7.59% 7.65%* |
7.79% 7.74%* |
|||
All interest rates quoted in the table above are base rates. A further margin may be added to the above interest rates for brokerage.
Interest rates are current as at 6-Nov-2008 and are subject to change without notice. If you would like to know today's market rates call us on 1300 658 108. Terms and conditions available on request. Applications are subject to credit approval.
+ An additional customer margin will apply to Small Business Loan fixed rates, Commercial Loans and Property and Construction loan products.
* The fixed rate comparison rate is calculated at the fixed rate for the period of the fixed term and at the variable rate stated above for the remainder of the loan term.
^ Comparison rates calculated on a loan of $150,000 for a term of 25 years, repaid monthly. WARNING: These comparison rates apply only to the examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. A comparison rate schedule is available from all offices of Members Equity Bank or you can view it online.
Business Asset Finance
To obtain a quote for one of our leasing solutions, please contact our business banking specialists on 1300 658 108 .
Fees & Charges
| Application | Valuation | Legal | |
|---|---|---|---|
| Residentially Secured Business Loan | Nil | Contact us for a quote | |
| Small Business Loan | 0.20% * Min $500 | Contact us for a quote | |
| Commercial Loan | 0.5% * | Contact us for a quote | |
* Simple applications may be eligible for a reduced application fee.
| Description | Amount | Fee charged |
|---|---|---|
| Variation Documentation Fee | Contact us for a quote | Upon approval of an application to vary a loan. |
| Redraw (minimum $5000) | $50 | Charged to your account immediately |
| Audit certificate fee | Contact us for a quote | Upon certificate completion |
| Progressive draw-down fee (per draw-down) | $150 | At each drawdown |
| Full or partial discharge of security - per security. | Contact us for a quote | At discharge |
| Description | Amount | Fee charged |
|---|---|---|
| Inward direct entry dishonour
This fee is charged whenever any incoming direct entry payment to your ME account from your nominated account is dishonoured due to a lack of cleared funds in your nominated account. |
$20 | Charged to your account immediately |
| Description | Amount | Fee charged |
|---|---|---|
| Interim statement request | $5 per page | Charged to your account immediately |
| Duplicate statement request | $5 per page | Charged to your account immediately |
| Description | Amount | Fee charged |
|---|---|---|
| Application fee | $700 | At settlement |
| Valuation fees | Nil | |
| Solicitors fees | Nil | |
| Redraw fee (min redraw - $2000) | Nil | |
| Lump sum payment fee | Nil | |
| Duplicate statement fee | Nil | |
| Progressive draw-down fee (per draw-down) | Nil | |
| Discharge fee (covers preparation of pay-out figure, production of title and instructions to solicitors) | $200 | At discharge (partial or full) |
| Partial discharge fee | $200 | At discharge (partial or full) |
| Early repayment fee (if repaid within the first 5 years) | $600 | At discharge |
| Production fee (Eg. Produce title to Titles Office) | $150 | At settlement |
| Convert a variable rate to a fixed rate loan | Nil | |
| Convert to a variable loan at the end of the fixed term rate | Nil | |
| Plan of Subdivision | $150 | Post settlement |
| Removal of a borrower or Guarantor | $200 | Post settlement |
| Consent to Second Mortgage | $150 | Post settlement |
| Security Substitution Fee | $200 | Post settlement |
Contact ME
- Product Enquiries
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Personal Ph 13 15 63 Business Ph 1300 658 108 ME Contact Centre open Mon - Fri 8am - 8pm. Sat 9am - 5pm (EST)
- Existing Customers
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Personal Ph 1300 654 998 Business Ph 1300 658 108 ME Contact Centre open Mon - Fri 8am - 8pm. Sat 9am - 5pm (EST)
- Phone Banking
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Personal Ph 1300 654 998 Business Ph 1300 658 108