Non-major reduces owner-occupied variable rate

by Julia Corderoy13 Nov 2015
Industry super fund-owned bank ME has announced a further variable rate discount for new owner-occupied home loans.

As of 12 November, the variable rate on ME’s Flexible Home Loan with Member Package will be reduced to 4.09% (comparison rate 4.49%). This equates to a 59 basis point discount off the reference rate is valid for the life of the loan as long as the customer holds a Member Package.

According to ME, as of 20 November the discount will increase to 0.79% off the reference rate butt the rate of 4.09% (comparison rate 4.49%) will remain.

Last month, the non-major bank slashed its two-year Flexible Home Loan fixed rate for owner-occupiers by 40 basis points, to 3.89%.


  • by John 13/11/2015 9:19:02 AM

    What is this telling us re interest rates? Non banks dropping, majors increasing? Second tear dropping?

    Has APRA got this wrong? Or are the majors price gouging?