Where a settlement is delayed beyond 3 months from the date of your application, or a letter of offer cannot be issued immediately, then the fixed interest rate that applies to your loan will be determined on the day of settlement.

Members Equity Bank cannot provide finance for all types of residential properties. To check whether your property is suitable security, contact one of our lending consultants on 13 15 63.

Please note restrictions apply to amounts lent for some properties.

You can set up a loan for any period from 5 years up to 30 years. Over that period, your repayments are calculated so that in addition to meeting your monthly interest payment, you will be reducing the principal amount outstanding.

Your loan repayments must be made by direct debit from a nominated account held with either Members Equity Bank, or any other financial institution. To set up a direct debit you can download and print the direct debit form and return it by mail to the address shown.

If you choose a variable interest rate, you can elect to make lump sum payments at any time or make extra repayments.

Fixed interest rate loans that are repaid early may incur a prepayment cost if Members Equity Bank incurs a loss due to the early termination of the fixed interest rate period. In this situation, the amount is no greater than the actual cost incurred by Members Equity Bank.

Other: When purchasing a property, you may incur external costs and charges such as your own legal advice, stamp duty and statutory government fees and charges. If you would like some assistance in calculating these costs, contact one of our lending consultants on 13 15 63.

Final approval of the loan will be confirmed following receipt of a satisfactory valuation and all other criteria being met.

The Members Equity Personal Loan is an unsecured loan. You may be able to take out a personal loan to access extra cash for most non-business purposes. Loans are available over fixed terms and each repayment goes towards repaying both the interest and the principal. This product has been designed with a simple pricing structure to support Members Equity Bank's values of offering easy to understand banking.