Following on from our ‘lowest ever home loan rate’ campaign in September 2012, I’m pleased to let you know that ME Bank has today slashed its 1-year fixed rate to 4.99% p.a. (comparison rate 5.62% p.a.*) for its Super Member Home Loan (SHML) Standard Home Loan with a Member Package.

Our 1-year fixed rate is currently the equal lowest available in the market and is the

second time in four months that we’ve cut fixed rates to record lows.

We have also cut our 3-year fixed rate to 5.19% p.a. (comparison rate 5.55% p.a.*) for our SHML Standard Home Loan with a Member Package.

The average standard variable rate for the big four banks is currently 6.42% p.a., which is 1.43% higher than our new 1-year fixed rate.

This means that a borrower could save themselves more than $3200 over 12 months by borrowing at 4.99%p.a. instead of 6.42%p.a. on a 25-year $300,000 loan.

The SMHL range and Member Package are only available to members of eligible super funds and unions.

Benefits for your members

A fixed rate provides customers with certainty and the confidence to plan ahead, knowing the exact value of their mortgage repayments.

With our low fixed rates and following the ban on exit fees on new loans, the ability for customers to switch to fairer banking is now even easier.

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