Finding the best rates…
Bank One
Best available
From 5.79% p.a.
Line-up
145 live products
Compare Bank of Melbourne and ME Bank home loans in March 2026. Bank of Melbourne offers rates from 5.79% p.a. across 145 products, while ME Bank starts at 5.58% p.a. with 384 products. ME Bank currently has the lower rate by 0.21%.
145 live products
Best available rate
Fixed Rate Home Loan (Fixed 1 Yr)
Highest ranked offer currently surfaced for this bank on the compare page.
Comparison
6.26%
Offset
Not included
Redraw
Included
384 live products
Best available rate
Me Bank Econome Home Loan (Variable)
Highest ranked offer currently surfaced for this bank on the compare page.
Comparison
5.60%
Offset
Not included
Redraw
Included
Live edge
ME Bank is lower on headline home loan rate by 0.21%, which is roughly $87 per month on a $500,000 loan.
Feature Comparison
Side-by-side view of the strongest offers surfaced above.
| Feature | Bank of Melbourne | ME Bank |
|---|---|---|
| Interest rate | 5.79% | 5.58% |
| Comparison rate | 6.26% | 5.60% |
| Offset account | No | No |
| Redraw | Yes | Yes |
Every tracked home loans option from Bank of Melbourne.
Every tracked home loans option from ME Bank.
Bank of Melbourne's lowest variable rate is 5.79% p.a. (comparison rate 6.26%) while ME Bank starts at 5.58% p.a. (comparison rate 5.60%). ME Bank is 0.21% lower, which saves approximately $87/month on a $500,000 loan.
Key features: Bank of Melbourne includes redraw, ME Bank includes redraw.
| Feature | Bank of Melbourne | ME Bank |
|---|---|---|
| Interest Rate | 5.79% | 5.58% |
| Comparison Rate | 6.26% | 5.60% |
| Offset Account | No | No |
| Redraw Facility | Yes | Yes |
Common Questions
ME Bank currently offers the lower variable rate at 5.58% p.a. compared to 5.79% p.a. Always check the comparison rate for a true cost picture.
Bank of Melbourne does not include an offset account. ME Bank does not include an offset account.
Bank of Melbourne's lowest variable rate is 5.79% p.a. (comparison rate 6.26%) on the Fixed Rate Home Loan (Fixed 1 Yr).
ME Bank's lowest variable rate is 5.58% p.a. (comparison rate 5.60%) on the Me Bank Econome Home Loan (Variable).
Bank Two
Best available
From 5.58% p.a.
Line-up
384 live products
| Annual Fee | $395 | $0 |
ME Bank currently offers a 0.21% lower home loan rate.
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