ME term deposit
- Interest rate 6 months interest rate
- Up to 4.85% p.a.
- Minimum opening deposit
- $5,000
- Account keeping fee
- $0
- Maximum deposit
- $2,000,000
Summary
Have spare funds lying around? Make your money work harder for you and let it earn interest with a ME term deposit.
The term deposit from ME doesn't charge any setup or account keeping fees. Have peace of mind knowing that you get a fixed interest rate on your hard-earned money. You can invest your funds from 1 month to 60 months at a time. You choose to have interest paid monthly, annually or at maturity.
Pros
-
$0 Account keeping fees
-
Flexible terms from 1 month to 5 years
-
Flexible interest payments: monthly, yearly or at maturity
-
Minimum investment of $5,000
Cons
-
ME Bank doesn't have any branches
Details
Key details
| Product Name | ME Term Deposit |
| 3 month interest rate | 2.25% |
| 4 month interest rate | 4.65% |
| 6 month interest rate | 4.85% |
| 7 month interest rate | 1.75% |
| 9 month interest rate | 4.85% |
| 12 month interest rate | 4.85% |
| 24 month interest rate | 4.30% |
| 36 month interest rate | 3.50% |
| 48 month interest rate | 3.50% |
| 60 month interest rate | 3.50% |
| Minimum Opening Deposit | $5,000 |
| Minimum age requirement | 18 |
| Government guarantee | Yes |
Eligibility
| Minimum Age Requirement | 18 |
| Joint account availability | Yes |
| Min Deposit | $5,000 |
| Available to children | Not available for children |
Your reviews
Alison Finder
Editor
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Jason Loewenthal Finder
January 08, 2024
Hi Debbie,
As of January 2024, the 5.15% rate is available on the 12-month term deposit. You need a minimum deposit of $5,000 to open an ME Bank term deposit.
I hope that helps.
Tom
June 14, 2023
What is the one year term dep rate for a smsf
Alison Banney Finder
June 15, 2023
Hi Tom, you can see the ME term deposit rates for business and SMSF customers here: https://www.finder.com.au/me-business-term-deposit
Jane
June 29, 2022
Hi there do you have the government guarantee for $250,000 for term deposits?
Alison Banney Finder
July 10, 2022
Hi Jane,
You’ve reached Finder. If you are referring to ME bank, the answer is yes. Your savings with ME are protected by a deposit guarantee from the Australian Government.
Thanks,
Alison
Ben
June 17, 2022
My sports club has $20,000 to invest.
We have articles of association.
We have a tax file number.
can we invest with you?
Alison Banney Finder
June 20, 2022
Hi Ben,
The ME Term Deposit is for personal use only and must be opened by an individual. Instead, you should be able to open the ME Business Term Deposit which is available to companies, trusts, and associations.
Thanks,
Alison
Miri
January 12, 2022
Can I put a power of attorney on this online account for a family member?
Alison Banney Finder
January 28, 2022
Hi Miri,
If you have been assigned as power of attorney for a ME customer, you’ll need to send a few documents before they can register your power of attorney account access, including the power of attorney document and identification.
For more details and advice based on your personal situation and account, we highly recommend that you get in touch with ME directly.
Thanks,
Alison
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Debbie Whitehand
December 18, 2023
I have a current account can you please help me understand how I ca get the 5.15% term deposit interest I have $100,000.00 to save