Borrowing frequently asked questions

How do I re-draw from my Home Loan?

If you wish to re-draw from your loan. Please contact bankmecu on 132 888 to arrange this over the phone or log on to Internet Banking to re-draw online.

How do I find out my pay-out figure on my loan?

To find out your current payout figure. Please contact bankmecu 's lending department on 132 888 for further information.

How much can I borrow?

Please refer to bankmecu 's "How much can I borrow calculator" located under calculators.

What are the repayments for $5,000 over 5 years for a Personal Loan?

Please refer to bankmecu 's "What will my repayment be calculator" Located under calculators.

How long will it take to get an answer for my loan?

Once you have submitted your application bankmecu will generally have an answer for you within 24-48 hours.

How do I apply for a loan?

If you wish to apply for a loan with bankmecu you can submit your application either by telephone, online via our website, mail or fax or you can make an appointment at one of bankmecu 's services centres.

Can you tell me how the 55 day interest free credit card works?

The card has up to 55 days interest free. This means that if you pay the balance owing at the end of the month on the 24th of the following month, you can use the card without paying any interest on VISA and BPay transactions as long as you can continue to pay the total balance outstanding at the end of each month by the due date.

What is involved in paying out and discharging my mortgage?

 

Sale of a home 

bankmecu requires a request in writing from your conveyancer/solicitor via mail, fax or email. This process may take approximately 3 - 5 weeks.

Home loan refinance

bankmecu require a completed discharge request from the financial institution you are refinancing to. This process may take approximately 3 - 5 weeks.

What is bankmecu's current interest rates on Credit Cards, Personal, Car & Home Loans?

Please refer to bankmecu 's interest rate schedule on our website or contact bankmecu on 132 888 for further information.

With the interest rate rise, what are my new repayments and when do they begin?

If your loan is at the maximum 30 year term, you will be advised of your new repayments via a letter in the mail and your new repayments will take effect approx 28 days later.