personal loan FAQs.

What is the ME Personal Loan?

The ME Personal Loan helps you access extra cash for most non-business purposes. It is an unsecured loan available over fixed terms, and each repayment goes towards repaying both the interest and the principal.

The ME Personal Loan features a simple pricing structure that supports our belief in easy to understand banking.

Over what period can I take out an ME Personal Loan?

Loans can be taken out for terms of 1, 2, 3, 4, 5, 6 or 7 years, allowing you to choose a time period to suit your needs and your budget.

How much can I borrow?

The amount of money you can borrow depends on your income and other financial commitments. The minimum amount you can borrow is $5,000 and the maximum is $50,000.

Can I make extra payments or repay my loan early?

Yes. There are no charges or penalties for making additional payments or for repaying your loan early.

How is interest calculated?

Interest is calculated daily and charged in arrears on the 15th day of each month.

How often can I make repayments?

Repayments can be made either monthly or fortnightly via direct debit from a nominated account. Download the ME Personal Loan Direct Debit Form.

ME customers can also make additional payments to their personal loan from other ME accounts via internet banking.

How often will I receive a statement?

Statements are issued half-yearly at the end of June and December. If you'd like a statement issued any other time, simply contact us on 13 15 63 or use our internet banking service to obtain your account balance.

Can I take out an ME personal loan for business purposes?

No. The ME Personal Loan is not available for business or business related purposes, including working capital. It is also not available for:

  • general bills
  • legal fees
  • tax bills/debts
  • deposit gaps
  • HECS debts.

What is my BSB number?

The BSB for our Personal Loan is 944 300.

What can I use the ME Personal Loan for?

You can get a ME Personal Loan for almost anything – with a few exceptions. The mains ones are that you can’t use it to pay business expenses, bills or tax costs.