Basic Home Loan

Offers standard home loan features (such as a redraw facility and pre-purchase approval) at a low variable rate. So, if you're a budget-conscious borrower, this no-frills option may meet your needs.

Rates (effective 01/09/14)

5.09%(p.a.)
5.13%Comparison
rate (p.a.)*

Features and comparisons

  • - min $10,000
  • - maximum term 30 years
  • - redraw
  • - additional repayments accepted
  • - choose from weekly, fortnightly or monthly repayments
  • - repayment pause
  • - biodiversity offset
  • - no monthly fee
  • - split between variable and fixed
  • - available for investment purposes

 
terms & conditions

* Comparison Rate. The Comparison Rate is based on a secured loan of $150,000 for 25 years. Warning: This comparison rate is true only for the examples given, and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
1. Terms, conditions, fees and charges apply and are available on application. Loans subject to normal lending criteria and approval.
2. Repayment Pause. Loans must be established for a full 12 months and a maximum Loan to Value Ratio of 90% (Family-Pause) or 80% (Eco-Pause) applies. Full conditions available from bankmecu.
3. Redraw. A $25 redraw fee is payable for each redraw transaction. Minimum redraw of $500 applies.
4. The Basic Home Loan product was revised on 15/10/2012. Some bankmecu customers may have a Basic Home Loan with varying features contracted prior to 15/10/2012. Please refer to your loan contract or call bankmecu on 132 888 to speak to a lending consultant regarding the features of your Basic Home Loan.
5. bankmecu offsets an equivalent amount of land as is being constructed on into the bankmecu Conservation Landbank in accordance with the land management plan developed and implemented by Landcare Australia and overseen by Trust for Nature. Carbon sequestered from these trees is monitored and reported by Landcare CarbonSMART. Homes constructed on large lots of land such as hobby farms will be offset according to the amount of land occupied by the dwelling.

want to know more?

call bankmecu on 132 888 or email us at mail@bankmecu.com.au
Home Loans Brochures and Guides
Home Buyers Guide (PDF 1.95 MB)
Credit, loans and debt - stay out of trouble when you borrow money (PDF 1.28 MB)
Home and Investment Loans (PDF 582 KB)