Home Loan Rates, Fees & Charges

Super low interest rates for eligible Super Fund and Union members

If you are a member of an eligible Super Fund or Union, you qualify for a Super Members Home Loan (SMHL) and can save up to 0.35% p.a. off the variable interest rates. With more than 150 Super Funds and Unions involved, over 5 million Australians are eligible for our super low rates - so there's a very good chance you or your partner could be one of them.

Check whether you are eligible

Standard Home Loan Interest Rates
Contract duration Eligible Members Non Members
  Rate Comparison Rate ^ Rate Comparison Rate ^
Variable 7.24% p.a. 7.24% p.a. 7.59% p.a. 7.59% p.a.
Fixed 1yr 7.99% p.a. 7.32% p.a. * 8.19% p.a. 7.66% p.a. *
Fixed 3yrs 7.39% p.a. 7.29% p.a. * 7.59% p.a. 7.59% p.a. *
Fixed 5yrs 7.59% p.a. 7.40% p.a. * 7.79% p.a. 7.68% p.a. *

What is a comparison rate?

Ultimate Offset Account Interest Rates
Contract duration Eligible Members Non Members
  Rate Comparison Rate ^ Rate Comparison Rate ^
Variable 7.54% p.a. 7.54% p.a. # 7.89% p.a. 7.89% p.a. #
Fixed 1yr 7.99% p.a. 7.57% p.a. # * 8.19% p.a. 7.91% p.a. # *
Fixed 3yrs 7.39% p.a. 7.52% p.a. # * 7.59% p.a. 7.85% p.a. # *
Fixed 5yrs 7.59% p.a. 7.55% p.a. # * 7.79% p.a. 7.87% p.a. # *

What is a comparison rate?

Interest Only Investment Loan Interest Rates
Duration Eligible Members Rate Non Members Rate
Variable 7.24% p.a. 7.59% p.a.
Fixed 1yr 7.99% p.a. 8.19% p.a.
Fixed 3yrs 7.39% p.a. 7.59% p.a.
Fixed 5yrs 7.59% p.a. 7.79% p.a.

 

Fees & Charges

Contract duration Standard Home Loan Ultimate Offset Account Interest Only Investment Loan
Application fee Free Free Free
Ongoing account keeping fees Free Free Free
Split Loan Fees
Contract duration Standard Home Loan Ultimate Offset Account Interest Only Investment Loan
Variable and fixed loan split Free Free Free
Two different fixed rate terms Free n/a Free
Owner occupied and investment loan split Free Free n/a
Redraw Fees
Contract duration Standard Home Loan Ultimate Offset Account Interest Only Investment Loan
Electronic transfer of funds Free Free Free
Bank Cheques
Contract duration Standard Home Loan Ultimate Offset Account Interest Only Investment Loan
Purchase and repurchase $10.00 $6.00 $10.00
Replace $10.00 $25.00 $10.00
Switching Fees
Contract duration Standard Home Loan Ultimate Offset Account Interest Only Investment Loan
Convert from a variable rate to a fixed rate loan Free n/a Free
Convert from a variable loan at the end of the fixed term Free Free Free

Note: Significant repayment fees apply if you terminate a fixed rate loan prior to the end of the fixed rate term.

Direct entry
Contract duration Standard Home Loan Ultimate Offset Account Interest Only Investment Loan
Request Free Free Free
Transfer to or from another financial institution (direct credit) Free Free Free
Dishonour outward (direct entry initiated by another financial institution) n/a $25.00 n/a
Dishonour inward (direct entry initiated by Members Equity Bank) $20.00 Free $20.00
Internet and phone banking
Contract duration Standard Home Loan Ultimate Offset Account Interest Only Investment Loan
All transactions Free Free Free
Recent transaction history Free Free Free
Card facility
Contract duration Standard Home Loan Ultimate Offset Account Interest Only Investment Loan
EFTPOS n/a Free n/a
ATM n/a Free n/a
Bank@PostTM n/a Free n/a
Cheque facility
Contract duration Standard Home Loan Ultimate Offset Account Interest Only Investment Loan
Cheque written n/a Free n/a
Dishonour outward (cheque payment initiated by Members Equity Bank) n/a $25.00 n/a
Dishonour inward (cheque payment initiated by another financial institution) $20.00 Free $20.00
Stop payment n/a Free n/a
Trace n/a $15.00 n/a
Copies of vouchers n/a $5.00 per voucher or $60.00 per hour – whichever is the lesser n/a
Set-up recovery fee
Contract duration Standard Home Loan Ultimate Offset Account Interest Only Investment Loan
If your loan is repaid within 5 years $600.00 $600.00 ** $600.00
Statement of accounts
Contract duration Standard Home Loan Ultimate Offset Account Interest Only Investment Loan
Duplicate Free $5.00 per page Free
Interim Free $5.00 per page Free
Post settlement fees
Contract duration Standard Home Loan Ultimate Offset Account Interest Only Investment Loan
Production of Title $150.00 $150.00 $150.00
Full Discharge of Mortgage $200.00 $200.00 $200.00
Partial Discharge of Mortgage $200.00 $200.00 $200.00
Plan of Subdivision $150.00 $150.00 $150.00
Removal of a Borrower or Guarantor $200.00 $200.00 $200.00
Consent to Second Mortgage $150.00 $150.00 $150.00
Security Substitution fee $200.00 $200.00 $200.00

Lenders Mortgage Insurance (LMI)

Payable when the loan amount is greater than 80% of the property's value. For more information on when and how much LMI is required, please call us on 13 15 63

Interest rates are current as at 02-Dec-2008 and are subject to change. Fees and charges apply. Terms and conditions available upon request. Applications are subject to credit approval.

* 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.

# 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 rate and fixed rate portions. Offset applies only to one variable portion of a split loan.

^ Comparison rates calculated on a loan of $150,000 for a term of 25 years, repaid monthly.

** This fee does not apply to Ultimate Offset Accounts existing before 3 December 2001.

WARNING: This comparison rate applies only to the example 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.

Contact ME

Product Enquiries
Personal Ph 13 15 63
Business Ph 1300 658 108

ME Contact Centre open Mon - Fri 8am - 8pm. Sat 9am - 5pm (EST)

Existing Customers
Personal Ph 1300 654 998
Business Ph 1300 658 108

ME Contact Centre open Mon - Fri 8am - 8pm. Sat 9am - 5pm (EST)

Phone Banking
Personal Ph 1300 654 998
Business Ph 1300 658 108