Business Lending Rates, Fees & Charges
Interest Rates
| Variable (p.a.) | Fixed Rates - Years (p.a.) | ||||||
|---|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 3 + 3 | ||
| Residentially Secured Business Loan | 6.49% | 6.68% | 6.90% | 7.55% | 7.95% | 8.20% | 10.42% |
| Small Business Loan | 7.09% | 3.50% + | 4.15% + | 4.85% + | 5.30% + | 5.60% + | 5.77% + |
| Commercial Loan | 3.35% + | 3.50% + | 4.15% + | 4.85% + | 5.30% + | 5.60% + | 5.77% + |
| Development Loan | 3.35% + | ||||||
| Standard Home Loan ^ |
5.74% 5.79%* |
6.35% 5.85%* |
7.30% 6.24%* |
7.95% 6.78%* |
|||
All interest rates quoted in the table above are base rates. A further margin may be added to the above interest rates for brokerage.
Interest rates are current as at 21-Jun-2009 and are subject to change without notice. If you would like to know today's market rates call us on 1300 658 108. Terms and conditions available on request. Applications are subject to credit approval.
+ An additional customer margin will apply to Small Business Loan fixed rates, Commercial Loans and Property and Construction loan products.
* The fixed rate comparison rate is calculated at the fixed rate for the period of the fixed term and at the variable rate stated above for the remainder of the loan term.
^ Comparison rates calculated on a loan of $150,000 for a term of 25 years, repaid monthly. WARNING: These comparison rates apply only to the 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. A comparison rate schedule is available from all offices of ME Bank or you can view it online.
Business Asset Finance
To obtain a quote for one of our leasing solutions, please contact our business banking specialists on 1300 658 108 .
Fees & Charges
| Application * | Valuation | Legal | |
|---|---|---|---|
| Residentially Secured Business Loan | $500 (min.) | Contact us for a quote | |
| Small Business Loan | 0.35% (min.) | Contact us for a quote | |
| Commercial Loan | 0.35% (min.) | Contact us for a quote | |
| Development and Construction Loan | 0.50% (min.) | Contact us for a quote | |
* Application fees are the minimum amount payable for simple and straightforward applications. Higher fees may be charged based on the complexity of the borrowing arrangements. Factors considered include trust, company, guarantor and associated entity structures, financial structures and security types offered.
| Description | Amount | Fee charged |
|---|---|---|
| Progressive Drawing Fee | $150 | At each drawing |
| Excess Disbursement Fee (4th and subsequent disbursements) |
$15 | At disbursement |
| Redraw Fee | $50 | At redraw |
| Audit Certificate Fee | $60/hr (min. of $100) |
Upon certificate completion |
| Discharge Fee per security | $200 | At discharge |
| Production Fee | $150 | When a title is produced at a Land Titles Office |
| Consent Fee | $150 | When we consent to a dealing at a Land Titles Office |
| Interim Statement Fee | $5 per page | Immediately |
| Duplicate Statement Fee | $5 per page | Immediately |
| Telegraphic Transfer (TT) Fee | $25 per TT | Immediately |
| Inward Cheque Dishonour | $25 | Immediately |
| Inward Direct Entry Dishonour | $25 | Immediately |
| Fixed Rate Break Costs | Unascertainable | When additional repayments are made during a fixed rate period |
| Description | Amount | Fee charged |
|---|---|---|
| Expired facility / Re-approval Fee | 0.10% | Upon approval of an application to vary or extend a loan |
| Variation Documentation Fee | $250 | Upon documentation of a loan variation |
| Description | Amount | Fee charged |
|---|---|---|
| Line Fee | 0.25% p.a. | On the facility limit in advance quarterly |
| Administration Fee (for supervised constructions) |
0.10% p.a. | On the facility limit in advance quarterly |
| Description | Amount | Fee charged |
|---|---|---|
| Application Fee | 1.25% (min. $400) |
At application |
| Six monthly Fee | 1.25% (min. $400) |
Every six months in advance |
| Application | |
|---|---|
| Document Fee | $250 |
| Master Agreement Document Fee | $350 |
| REVS Check | $25 |
| ASIC form 309 (Government Charge) |
$135 |
| ASIC form 312 (Government Charge) |
$350 |
| Description | Amount | Fee charged |
|---|---|---|
| Drawing Fees Progressive or under Master Agreement |
$150 | At each drawing |
| Mortgage Preparation fee | $100 | Per mortgage |
| Standard Inspection Fee (used equipment) |
$100 | If inspection is required |
| Assignment Fee | $400 | Upon consent to an assignment of your contract (eg. for land surveying) |
| Early Pay Out Fee | Unascertainable | When additional repayments are made during a fixed rate period |
| Non-Standard Costs | Unascertainable | |
| Interim Statement Fee | $5 per page | Immediately |
| Duplicate Statement Fee | $5 per page | Immediately |
| Audit Certificate Fee | $60/hr (min. of $100) |
Upon certificate completion |
| Inward Cheque Dishonour | $25 | Immediately |
| Inward Direct Entry Dishonour | $25 | Immediately |
| Description | Amount | Fee charged |
|---|---|---|
| Application Fee | $700 | At settlement |
| Valuation Fees | Nil | |
| Solicitors Fees | Nil | |
| Redraw Fee (min redraw - $2000) |
Nil | |
| Lump Sum Payment Fee | Nil | |
| Interim or Duplicate Statement Fee | Nil | |
| Progressive Draw-down Fee | Nil | |
| Convert a variable rate to a fixed rate loan | Nil | |
| Convert to a variable loan at the end of the fixed term rate | Nil | |
| Audit Certificate Fee | $20 | Upon certificate completion |
| Discharge Fee (covers preparation of pay-out figure, production of title and instructions to solicitors) |
$200 | At discharge (partial or full) |
| Set-up Recovery Fee (if loan is repaid within the first 5 years) |
$600 | At discharge |
| Production Fee | $150 | When title is provided to the Land Titles Office |
| Consent to Plan of Subdivision | $150 | On occurrence |
| Removal of a borrower or Guarantor | $200 | On occurrence |
| Consent to Second Mortgage | $150 | On occurrence |
| Security Substitution Fee | $200 | On occurrence |
Contact ME
- Product Enquiries
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Personal Ph 13 15 63 ME Contact Centre open
Mon - Fri: 8am - 8pm,
Sat: 9am - 5pm (EST)Business Ph 1300 658 108 ME Business Contact Centre open
Mon - Fri: 9am - 5pm (EST) - Existing Customers
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Personal Ph 1300 654 998 ME Contact Centre open
Mon - Fri: 8am - 8pm,
Sat: 9am - 5pm (EST)Business Ph 1300 658 108 ME Business Contact Centre open
Mon - Fri: 9am - 5pm (EST) - Phone Banking
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Personal Ph 1300 654 998 Business Ph 1300 658 108