ME Bank lowers 1 year and 5 year home loan fixed rates

ME Bank today announced that it has lowered its fixed 1 year and 5 year fixed mortgage rates by 0.10%.

The rate cut ensures members of eligible super funds and unions continue to receive one of the most competitive rates on the market.

The Super Members Home Loan (SMHL) Standard Home Loan fixed 1 year rate now drops from 5.19% p.a. (comparison rate 5.61% p.a.) to 5.09% p.a. (comparison rate 5.60% p.a.), and the fixed 5 year rate now drops from 5.59% p.a. (comparison rate 5.64% p.a. to 5.49% p.a. (comparison rate 5.59% p.a.). 

ME Bank has also reduced the 1 year fixed rate and 5 year fixed rates on the SMHL Ultimate Offset Account and SMHL Interest Only Investment Loans.

The new rates are effective 19 June 2013.

SUPER MEMBERS HOME LOANS (SMHL)

STANDARD HOME LOAN

ULTIMATE OFFSET ACCOUNT^

INTEREST ONLY INVESTMENT LOAN

Fixed rates

Rate % p.a.

Comparison Rate* % p.a.

Rate % p.a.

Comparison Rate* % p.a.

Rate % p.a.

Comparison Rate* % p.a.

1 Year Fixed Rate

5.09%

5.60%

5.09%

5.94%

5.09%

5.65%

1 Year Fixed Rate with a Member Package

5.09%

5.40%

5.09%

5.42%

5.09%

5.43%

3 Year Fixed Rate

4.99%

5.48%

4.99%

5.85%

4.99%

5.65%

3 Year Fixed Rate with a Member Package

4.99%

5.31%

4.99%

5.38%

4.99%

5.43%

5 Year Fixed Rate

5.49%

5.59%

5.49%

5.88%

5.49%

5.65%

5 Year Fixed Rate with a Member Package

5.49%

5.46%

5.49%

5.45%

5.49%

5.43%

A Member Package is available for an annual Package fee of $395.

Interest rates are current as at 19/06/2013 and subject to change. ME Bank Super Members Home Loans are available to eligible super fund and union members. Visit mebank.com.au for a list of eligible funds and unions. Terms and conditions are available on request. Fees and charges may apply. Applications are subject to credit approval. #Comparison rates based 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 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 and fixed rate portions. Offset applies to only one variable portion if a split loan. Members Equity Bank Pty Ltd ABN 56 070 887 679. Australian Credit Licence 229500.

 

 

MATTHEW READ, MEDIA AND COMMUNICATION MANAGER

P 03 9708 3334 M 0432 130 338 Email

ME Bank is the only bank which is 100 per cent owned by Australia’s leading industry super funds. ME Bank provides industry super fund, union and employer association members with a genuinely fairer banking alternative.