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Personal loan provider

Important disclosure

ME Bank Personal Loans

When you’ve got personal purchases to make and financial goals to meet, ME Bank can provide what you need sooner instead of later. Compare ME Bank personal loans and repayments below to see if this digital lender delivers on its bang-for-your-buck promise.

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Finances falling short of your goals? Get what you need, now, with a ME low interest personal loan.

Overview

Minimum loan amount$5,000

Maximum loan amount$50,000

Minimum term (years)1 Year

Maximum term (years)7 Years

Personal loan interest rates (base)10.98%

Personal loan comparison rate11.35%

Monthly repayments (approx)$335

Total repayments (approx)$12,076

Total interest repayments (approx)$2,076

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$250

GO TO ME Bank

Other Fees & Information

Monthly fee$0

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleFortnightly, Monthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$0

For debt consolidation?Yes

Sponsored No

Telephone13 15 63

Data accurate as of19/12/2018

GO TO ME Bank

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Pay ZERO fees on all loans with NOW Finance. That's right - no establishment fee, no monthly fees, no early payout fee on all loans between $8,000-$50,000. What's more, get your guaranteed, tailored interest rate in two minutes without impacting your credit score. The comparison rate can vary from 5.95% to 17.95%

Overview

Minimum loan amount$8,000

Maximum loan amount$50,000

Minimum term (years)1.5 years

Maximum term (years)7 Years

Personal loan interest rates (base)5.95%

Personal loan comparison rate5.95%

Monthly repayments (approx)$303

Total repayments (approx)$10,943

Total interest repayments (approx)$943

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$0

GO TO Now Finance

Other Fees & Information

Monthly fee$0

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleWeekly, Fortnightly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$0

For debt consolidation?Yes

Sponsored Yes

Telephone1300 275 669

Data accurate as of23/02/2021

GO TO Now Finance

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OurMoneyMarket offer competitive low rates on loans up to $50,000, plus free extra repayments and fee-free redraw facility.

Overview

Minimum loan amount$2,001

Maximum loan amount$50,000

Minimum term (years)1 year

Maximum term (years)7 Years

Personal loan interest rates (base)5.45%

Personal loan comparison rate6.07%

Monthly repayments (approx)$309

Total repayments (approx)$11,134

Total interest repayments (approx)$1,134

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$250

GO TO OurMoneyMarket

Other Fees & Information

Monthly fee$0

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityYes

Repayment scheduleWeekly, Fortnightly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$25

For debt consolidation?Yes

Sponsored Yes

Telephone1300 990 115

Data accurate as of30/06/2021

GO TO OurMoneyMarket

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Fast and easy online application. Money can be in your account same-day. Flexible repayments with no early exit fees. Comparison interest rates from 7.64% to 13.32% p.a.

Overview

Minimum loan amount$2,100

Maximum loan amount$50,000

Minimum term (years)1 year

Maximum term (years)5 years

Personal loan interest rates (base)6.25%

Personal loan comparison rate7.64%

Monthly repayments (approx)$320

Total repayments (approx)$11,547

Total interest repayments (approx)$1,547

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$495

GO TO MoneyMe

Other Fees & Information

Monthly fee$10

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleFortnightly/Monthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$15

For debt consolidation?Yes

Sponsored Yes

Telephone1300 329 037

Data accurate as of03.03.2021

GO TO MoneyMe

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Minimum and maximum loan periods vary between 6 months and 10 years. Comparison interest rates vary between 6.55% and 20.89% p.a. Total interest repayments vary between $1,387 and $4,165 over the life of the loan. *Comparison rate is based on an unsecured loan of $10,000 for a term of 3 years. 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. These rates can change without further notice. All rates quoted are per annum. For more information regarding fees click on "View fees & additional info +" for each product or contact the provider.

What type of loan are you looking for?

ME Bank personal loans – Stay in control of your money needs

ME (Members Equity) is a 100% Australian lender owned by top industry super funds. It’s also a branchless lender that moves with the times to deliver affordable and convenient financial services. Take a look at what ME Bank personal loans offer in the guide below.

Important facts about ME personal loans

  • Interest rate: 10.98% p.a. (subject to change)
  • Interest rate type: Fixed
  • Comparison rate: 11.35% p.a.
  • Loan amounts: $5,000 – $50,000
  • Loan terms: 1-7 years
  • Security type: Unsecured personal loan

Pros

  • There’s no need to use your asset or property as security when accessing funds.
  • There are no fees for account keeping or early repayments.
  • The fast online application only takes 10 minutes.

Cons

  • You have to pay an establishment fee of $250.
  • ME personal loans are not available for business expenses, tax bills, or payments for property purchases.
  • Joint applications are not available so you can only apply as an individual.
  • There’s no redraw facility, so any extra repayments you make won’t be accessible.

Features of personal loans from ME

Consider the following ME Bank personal loan features when deciding if this option is right for you:

  • Borrowing limits. The minimum amount of $5,000 might be too large, especially when all you need is a small personal loan for minor expenses. However, if you need to borrow more, your capacity will depend on your credit score, income, and how much debt you owe.
  • Repayment terms. Since you can pay your loan over 1-7 years, it’s easier to find a repayment that fits your budget. BestFind’s ME personal loan calculator is handy for this.
  • Fixed interest rate. A fixed rate is stationary, so your minimum repayments will always be the same amount you start out with.
  • Extra repayments. Besides your minimum repayments, you can also make additional repayments. Checking out of your contract at an earlier date is a smart move if you want to save on credit costs.
  • Fees and charges. There are no account keeping or early repayment fees. But there’s a $250 establishment fee, a $5 duplicate statement fee, and a $25 dishonour or late payment fee.
  • Flexible repayment options. Repayments can be made fortnightly or monthly. It’s possible to change the due date, repayment amount, and frequency under certain conditions.

Different uses for ME personal loans

Like most lenders, ME personal loans are available for most personal purchases and expenses such as:

  • Cars, motorbikes, boats, or even scuba gear
  • Debt consolidation
  • Home renovations
  • Medical bills
  • Holiday and travel
  • Weddings

How to apply for a personal loan from ME Bank

ME Bank is a branchless lender so you can only apply for credit through their website. To go there, click “Go to Site” but before you start the application process, make sure you meet ME’s lending criteria. You must be:

  • At least 18 years or older
  • An Australian citizen or permanent resident
  • Applying on your own behalf and as an individual
  • A low-risk borrower with a good credit rating

Additionally, you must provide your driver’s licence or passport as well as some information about your income and expenses. The application only takes about 10 minutes, and once you’re approved, the money will show up in your account over the next two business days.

While you’re scoping out ME personal loans, you can also take the time to compare other personal loan options with BestFind. This helps cover all your bases when it comes to getting the right loan for you.

About ME Australia

ME has been in the game since 1994. The financial services provider previously went by the name ME Bank, but they’re now referred to as ME after a rebrand. Aside from personal loans, ME also offers financial products like home loans, bank accounts, and credit cards.

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