Me Bank

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ME Bank

Founded: 1994

Lender Type: Bank

Owned by: A Group of Industry Super Funds

Not as large as many of its competitors, Members Equity Bank stands out because of its unique affiliations with unions and shareholder strength. It offers relatively low-interest rates and highly practical home loan solutions with a commitment to low fees and responsible lending. ME may not have the most competitive rates on the market, however, but their simplified loan products and no-nonsense style are refreshing.

Key Benefits

Discounted rates for some loans
Will accept low deposit loans
Low fees on some products


Interest rates higher than competitors
No low doc home loan options
Inconsistent customer service

Home Loan Products

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Home Loans Description

Basic Home Loan

This is ME Bank’s attractive variable rate loan. You’ll save a lot on fees and can make free redraws at any time on the funds you’ve built up, although there is a $500 minimum. You can borrow up to 95% of the property value, making this a worthwhile option for those searching for a good low deposit loan. If you do have a large deposit, you’ll enjoy a more competitive rate and can opt for interest only payments for up to five years.

Flexible Home Loan

Add a few flexible features to the Basic Home Loan offered by ME, as well as a slightly higher variable rate, and you have the Flexible Home Loan. You can use an offset account to make your loan more affordable and can choose between a fixed, variable, and split rate option depending on which suits your financial goals. You’ll also be able to prepay even when you choose the fixed rate loan, up to $30,000.

Flexible + Member Package

This is the home loan product that can be tailored to your financial goals and style. It is a full-featured product with free redraws, extra repayments, and an offset account. You can set your loan to a variable rate that will move with the RBA’s cash rate or get peace of mind with a fixed loan with terms ranging from one to seven years. You can also split your loan. Package your loan for an annual fee and you’ll save on fees and interest for the life of your loan.

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