Loans

low variable interest rate

A low variable interest rate that is calculated on the daily balance to ensure that you gain immediate benefit from loan repayments. This helps you to pay your loan off sooner rather than later.

free loan protection insurance paid out to $120,000

mecu loans include Loan Protection Insurance for no additional cost. In the event of an unexpected death of the borrower/s, the loan is paid out to a maximum of $120,000, thus protecting the family from the burden of repaying the loan. Family homes may be protected from the risk of a forced sale. Peace of mind is now included.

flexible repayments

Making repayments on your loan is easy. You can select from weekly, fortnightly or monthly contracted repayments. Coinciding your repayments with your salary will ensure your repayments are made by the due date. You can make extra unscheduled payments at any time without penalty too!

rates

Click to view equity loans rates, fees and charges .

* The comparison rate is based on a loan of $150,000 for 15 years. Fees and charges may be applicable. Click on Comparison Rate to read more.

Mortgage Loans Significant Terms and Conditions

• New loans come with free Loan Protection Insurance up to $120,000 for eligible borrowers (excluding Basic, Fixed and $500k+ Home Loans).
• To qualify for the goGreen Home Loan, the home financed must have an energy rating of 6 stars or more under the Nationwide House Energy Rating scheme . If you are borrowing more than $500k or are a first home buyer you qualify for those product's lower interest rates.
• To qualify for the Premium Home Loan $250k+ or Premium Investment Loan $250K+, the loan amount borrowed must be a minimum of $250,000.
• To qualify for the Premium Home Loan $500k+ or Premium Investment Loan $500K+, the loan amount borrowed must be a minimum of $500,000.
• To qualify for the First Home Buyers Loan, members must be eligible for the First Homeowners Grant.
• Variable interest rates apply to mortgage loan products other than fixed rate loans.
• Loan Establishment Fee $595.
• Maximum Loan Term is 30 years, except for Bridging Loans where the term is 1 year and Interest Only Loans which are 5 year terms.
• A break fee may apply on the Premium First Home Buyers Loan, $250k+ and $500k+ Loan Products (Home & Investment), goGreen Home Loan, Fixed Rate Mortgage Loans and the Basic Home Loan, if the loan is repaid within 3 years.
• Full terms, conditions, fees and charges are available on request and on application. Contact mecu for further details.