ME Bank home loan review
ME Bank is an online-direct lender, and Ratesniffers tracks 50 of its home loan products across variable, fixed and interest-only options. Its lowest variable rate Ratesniffers tracks is 5.99% p.a., and its lowest fixed rate is 6.24% p.a. That sits about 20 basis points below the market median of 6.19% p.a., putting it among the more competitive lenders right now.
Is ME Bank a good home loan lender?
ME Bank suits app first borrowers who want up to 10 offset accounts on a variable loan and will pay for the package. Ratesniffers checked its published product and fee pages on 3 Sept 2026. The trade-off is channel and cost: applications run through the ME Go app, and CompleteME costs $395 a year.
What we looked at
Ratesniffers ranked and described this lender from the verified rate snapshot on this page, then read the lender's own published product pages and fee documents listed under Sources below. Sources were checked on 3 Sept 2026. There are no scores, no stars and no user reviews here, only what the lender publishes and what the snapshot shows.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is based on a loan of $150,000 over a term of 25 years.
The information provided on this site is general in nature and does not take into account your objectives, financial situation or needs. Before acting on any information, consider whether it is appropriate for you and read the relevant Credit Guide and lender disclosures.
ME Bank home loan interest rates by term
The lowest owner-occupier, principal and interest rate ME Bank has published per term, from the same rate snapshot as the panel above.
| Term | Interest rate | Comparison rate |
|---|---|---|
| Variable | 5.99% p.a. | Not available |
| 2-year fixed | 6.24% p.a. | Not available |
| 3-year fixed | 6.29% p.a. | Not available |
The case for
- Its sharpest variable rate sits below the market median of 6.19% p.a. in the rate snapshot on this page.
- CompleteME links up to 10 SpendME accounts as 100% offset accounts against a variable rate home loan.
- EconoME carries no annual fee, and CompleteME includes a valuation up to a $300 cost threshold.
- Fixed terms run from one to five years, and interest only is available for up to 5 years for owner occupiers and up to 10 years for investors.
- Published LVR bands run to a maximum 95%, and the maximum loan term is 30 years, with weekly, fortnightly or monthly repayments and a choice of monthly payment day.
- Additional payments carry no fee on variable loans with redraw of the extra repayments, and up to $10,000 a year can be repaid early on a fixed rate loan.
What to weigh up
- CompleteME costs $395 a year, payable on the settlement or product switch date and annually after that.
- Offset accounts apply to variable rate home loans only, so a fully fixed loan carries no offset.
- A $150 settlement fee applies, and rate lock costs $750 to hold a rate for 90 days.
- Applications run through the ME Go app or a mobile banker, so there is no branch channel.
- ME became part of the Bank of Queensland Group in 2021, and the group prices BOQ separately, so an ME quote is not the group's only price.
Who ME Bank suits and who it does not
ME tends to suit borrowers who are comfortable applying and banking in an app, who want multiple offset accounts against a variable loan, and who will use enough of the CompleteME feature set to justify its $395 a year. It suits less well where a branch matters, where the plan is a fully fixed loan with an offset, which ME does not pair, or where the loan is small enough that EconoME with no annual fee and no offset is the better shape. Comparing ME against BOQ inside the same group is worth doing before choosing.
ME Bank home loans: our verdict
ME Bank is a credible choice whose lowest variable rate of 5.99% p.a. currently sits about 20 basis points below the market median, which is competitive today (last updated 23 Sept 2026). Whether it's right for you comes down to your deposit, the features you'll use, and how its real approved rate compares, so treat the headline as a starting point, not the final answer.
Sources checked 3 Sept 2026: ME Bank, Home loans; ME Bank, CompleteME home loan. Fees and product terms change, so confirm them with ME Bank before applying.
See if you can do better than ME Bank
The advertised rate isn't always the rate you'll be approved for. Compare ME Bank against the wider panel, or have your scenario negotiated, at no cost.