ME Bank passes on today’s full 0.25% RBA rate cut to customers

Tuesday 3 February, 2015 

ME Bank will pass on today’s full 0.25% RBA rate cut to customers.

ME Bank’s Standard Home Loan variable interest rate will drop to 5.13% p.a. (comparison rate 5.14% p.a.), so customers can continue to enjoy a lower rate than the major banks, just as they have every month since we became a bank in 2001.

Our member package rate will fall to 4.93% p.a. (comparison rate 5.32% p.a.) providing one of the most competitive rates for home loans up to $500,000.

 

Product

New variable rate % p.a.

Comparison Rate % p.a.#    

Effective Date

Standard Home Loan

5.13

5.14%

20/2/15

Interest Only Investment Loan

5.13

5.14%

15/3/15

Standard Home Loan - Settled before 01-Oct-98

5.13

5.14%

15/3/15

Member Package – Standard Home Loan

4.93

5.32%

20/2/15

Member Package - Ultimate Offset Account

4.93

5.32%

20/2/15

Member Package - Interest Only Investment Loan

4.93

5.32%

15/3/15

Ultimate Offset Account - Version 2

5.43

5.44%

20/2/15

 

 

Interest rates are proposed as at 3/02/2015 and subject to change. Terms and conditions are available on request. Fees and charges may apply. Applications are subject to credit approval.  Australian Credit Licence 229500. #Comparison rates calculated on a loan of $150,000 for a term of 25 years, repaid monthly. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

- Ends - 

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.