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ME Bank Personal Loans

ME Bank Personal Loans

2.4 from 5 reviews

See the Best Personal Loans in 2019 as rated by Australians on ProductReview.com.au.


Obviously haven't changed - Takes too long to receive conditional approval or rejection

Even though there were some old negative reviews (from 5- 8 years ago) regarding personal loans, i thought i would give them a go as i didn't want to go through any of the major banks. Wish i hadn't wasted my time. I end up cancelling my application after waiting over 2 weeks for them to even say whether i will be conditionally approved or rejected. Made numerous follow up calls to find out how my application was going as i had not received any email confirmations regarding my application, but only a text to say they had received my application. I was advised that i would get a phone call either way, but they couldn't give me an estimate of when i would receive such a call. By the last time i had rang, I still hadn't even received a request for documents to support my application. Apparently they use snail mail. By this stage i had had enough and was not willing to wait any longer. I requested my application be cancelled as i was no longer interested in their service (or should i say lack there of) and asked them to email me to confirm that my request had to be cancelled. They then advised me that for legal purposes they could only send it in a physical letter form. Very unimpressed!
Also, note that if you do decide to apply, they application times out and even if you save it, they give you an application number to go back to it, the number doesn't exist! had to fill out the form more than once!

Transparency
Customer Service
Application Process
Timeliness

What a great bank to deal with

I love ME Bank. They have helped me twice now when no one else would, including NAB, who I've been banking with for 20 years. ME have been incredibly helpful and just as fast as any other major lender I've dealt with when it comes to approvals and getting loan documents pepared. They also take into account your superannuation accounts and home contents as assets which the big banks don't. I really can't fault them at all. Their customer service is great as well.

Money if you're not in a hurry

I wouldn't recommend ME to anyone. After over a month waiting for approval( after it was pre approved), it then took around 2 more weeks for money to be dispatched, after countless phone calls. And now as it had taken so long for the funds and 2 bank cheques to arrive to pay off other loans I'm being stuffed around for now another 2 weeks to cancel those bank cheques as the amounts on them are no longer correct. In the mean time I have to now pay off 3 seperate loans in stead of the 1 because I haven't been able to pay off the 2 I previously had as I'm still waiting for this bank to pay them. This Bank is an absolute joke.

Certainly in no rush to help you

Some major changes are in order to bring them up to today's standards. After a frustrating 2 weeks I pulled the pin. Over small simple issues that my current bank laughed at I went through 3 different invitation letters of which the last one was lost by them. Spoke to and re explained myself to a countless number of people in their office. Can't understand that if your in a rush for it they will only handle your document via post they won't even fax it to you (but your allowed to fax to them). And if they said they will call you back don't hold your breath.
Very disappointed
Easy to cancel the application
Unorganised


Exceptional service

We had just paid out our existing loan when we needed to purchase another car. Once we submitted our application online, ME kept us updated on the progress of the application via text message.
They advised us that applications can take up to 2 weeks, but once we advised them that we were without a car, we have the money in our bank account within 5 working days. Very happy.
One problem I have encountered in the past I have found it difficult to change the direct debit day, they want to charge you for the scheduled payment as well as the day you are changing it to
Very quick approval
Changing direct debit details

Questions & Answers

how high does you credit score must be?
No answers

Details

ME Bank Personal Loans
CategoryPersonal Loans
Contact Number 13 15 63
24-Hour Phone Contact No
Online Live Chat Yes
Interest Ratefrom 10.98% p.a.
Comparison Rate from 11.35% p.a.
Monthly Fee $0.00
Application Fee $250.00
Repayment FrequencyFortnightly and Monthly
Loan Amount $5,000.00 to $50,000.00
Loan Term1 to 7 years
Rate TypeFixed

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