Compare ME savings accounts

Banking with ME provides you with easy banking solutions to fulfil all of your financial needs.

No reviews yet. Write a review
ME

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!

For over 20 years, ME has been growing as an Australian banking institution. Created and owned by industry super funds, their primary purpose is in helping Australians get ahead. Deposits with ME are secured by the Australian Government Guarantee Scheme.

Name Product Card access ATM Withdrawal Fee Fee Free Deposit p.m. Monthly account fee
ME Everyday Transaction Account
Mastercard
$0
$0
$0
Free access to any ATM in Australia.

Any fees you pay at an Australian ATM will be refunded to your account within 30 days. This account has $0 account keeping fees.
loading

Compare up to 4 providers

$
$
months
Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Interest Earned
ME Online Savings Account
1.1%
0.05%
1.05%
$0
Ongoing, variable 1.1% p.a. rate when you link to a ME Everyday Transaction account and have at least four tap & go purchases with your Debit Mastercard processed each month. Available on balances up to $250,000.
ME Online Savings Account
0.05%
0.05%
0%
$0
Ongoing, variable 0.05% p.a. rate when you link to a ME Everyday Transaction account and have at least four tap & go purchases with your Debit Mastercard processed each month. Available on balances up to $250,000.
ME Business Online Savings Account
0.6%
0.6%
0%
$0
Earn a competitive interest rate on your business savings.
loading

Compare up to 4 providers

Name Product 3 Mths p.a. 4 Mths p.a. 5 Mths p.a. 6 Mths p.a. 7 Mths p.a. 12 Mths p.a. 24 Mths p.a.
ME Term Deposit
0.50%
0.50%
0.55%
0.65%
0.55%
0.70%
0.70%
You can link the ME Term Deposit with the transaction account of your choice, at any other Australian financial institution.
Choose whether to have interest paid annually, monthly or at maturity.
ME Business Term Deposit
0.50%
0.50%
0.55%
0.55%
0.55%
0.65%
0.70%
Earn a fixed rate of interest on your funds with a ME Business Term Deposit and pay no fees at all. Choose a term length between 1 month to 60 months at a time.
loading

Compare up to 4 providers

Name Product Card access ATM Withdrawal Fee Fee Free Deposit p.m. Monthly account fee
ME Everyday Transaction Account
Mastercard
$0
$0
$0
Free access to any ATM in Australia.

Any fees you pay at an Australian ATM will be refunded to your account within 30 days. This account has $0 account keeping fees.
loading

Compare up to 4 providers

$
$
months
Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Interest Earned
ME Online Savings Account
1.1%
0.05%
1.05%
$0
Ongoing, variable 1.1% p.a. rate when you link to a ME Everyday Transaction account and have at least four tap & go purchases with your Debit Mastercard processed each month. Available on balances up to $250,000.
ME Online Savings Account
0.05%
0.05%
0%
$0
Ongoing, variable 0.05% p.a. rate when you link to a ME Everyday Transaction account and have at least four tap & go purchases with your Debit Mastercard processed each month. Available on balances up to $250,000.
ME Business Online Savings Account
0.6%
0.6%
0%
$0
Earn a competitive interest rate on your business savings.
loading

Compare up to 4 providers

Name Product 3 Mths p.a. 4 Mths p.a. 5 Mths p.a. 6 Mths p.a. 7 Mths p.a. 12 Mths p.a. 24 Mths p.a.
ME Term Deposit
0.50%
0.50%
0.55%
0.65%
0.55%
0.70%
0.70%
You can link the ME Term Deposit with the transaction account of your choice, at any other Australian financial institution.
Choose whether to have interest paid annually, monthly or at maturity.
ME Business Term Deposit
0.50%
0.50%
0.55%
0.55%
0.55%
0.65%
0.70%
Earn a fixed rate of interest on your funds with a ME Business Term Deposit and pay no fees at all. Choose a term length between 1 month to 60 months at a time.
loading

Compare up to 4 providers

Rates accurate as at: June 18th, 2021 Learn about our information service

Awards that ME has earned

  • Smart Investor. 2016 Financial Review Smart Investor Blue Ribbon Award - Online bank of the year

What is ME?

ME makes it simple to save by giving you a variety of accounts with different features to suit your needs. You can earn interest on excess money in a transaction account or get an introductory bonus rate by linking accounts. There are no fees when you save with ME, making it even simpler to achieve your goal.

What’s internet banking like for ME?

The ME online banking platform enables customers to change personal details, modify pending payments, and increase or decrease their daily limits. They can view account balances and transaction details, and they can make bill payments through BPAY. You can transfer funds to other bank accounts, and you can initiate fund transfers from other accounts for which you have set up direct debit requests.

The use of 128-bit SSL encryption ensures safety of transmitted information.

Notable features include:

  • Make third party payments
  • Change loan repayments
  • Stop or pause cards, and reactivate it later

What about the mobile app?

Image Source: App Store
AccountsCardsStatements
Back to top

What transaction accounts are offered by ME?

  • Everyday transaction account. A no fee transaction account that allows you to pay for purchases with no charge. If you choose a pink debit Mastercard, ME will make a one cent donation to the National Breast Cancer Foundation every time you use it.

What high interest savings accounts are offered by ME?

  • Online savings account. Take advantage of a bonus interest rate with this high interest savings account. There are no fees to save and you can still access your money whenever you need without paying a penalty.

What term deposits offered by ME?

For an Australian looking for a long term savings plan, ME provides term savings with a minimum opening balance of $5,000. This is a fully flexible savings option, giving you choices in terms from one month to five years and when interest is paid into your account.

Back to top

Any pros and cons I should think about?

Pros

  • Bonus interest. Get a boost to your savings account when you meet to account conditions.
  • Fees. With no fees on their banking account products, ME gives you a good opportunity to save for free.
  • Flexible terms. Long term savings can be easily accomplished by choosing terms you know you can meet.
  • Mobile app. The ME app allows you to access your accounts on the go as well as provide other services such as an ATM finder.
  • Linked accounts. You will nominate an account to facilitate transfers into and out of your savings, but ME also allows you to use accounts that are not linked for this function as well.

Cons

  • Branches. ME does not have branch banking, although they do have sales offices in Victoria, Queensland and South Australia.
  • Online banking unreliable at times. There have been some reviews mentioning a glitch in ME's online system when attempting to transfer funds and to wait a few hours. There have also been reviews about how basic their online platform is.
Back to top

How do I apply for a ME savings account?

You need to compare the accounts offered by ME with others to make sure they suit your personal financial needs and your unique situation. If you decide one of the ME accounts is right for you, ME accepts applications online for their savings and term deposit accounts. Applying will only take a few minutes with you providing some basic information about yourself and your savings needs.

  • Requirements. The required age will vary, with applications being accepted from individuals as young as 12 years old for some accounts. You will however have to be a permanent resident of Australia.
  • Identification verification. ME is required by law to first verify your identity electronically by using information found on your driver’s licence or passport.
  • Linked account. Be prepared to provide the account number to link your savings to.

In order to ensure that you are getting all of the features and benefits you want for your savings, you should always compare accounts across different financial institutions before committing to any one.

More guides on Finder

  • ME term deposit

    With the ME term deposit you get a flexible savings plan with options that let you customise the terms to suit your needs.

  • ME Everyday Transaction Account

    With no monthly account fees and a widely accepted card that works like cash, you have a variety of ways to access your money without being charged for it. This is worth considering as you compare transaction accounts being offered by Australian banks.

  • ME Online Savings Account

    If you have a savings plan in mind, but still want the flexibility of accessing your money when needed, this could be a savings account worth looking into.

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.

19 Responses

    Default Gravatar
    CaroleOctober 17, 2017

    Is there a high interest savings account that can be used when share trading please?

      Default Gravatar
      ArnoldOctober 17, 2017

      Hi Carole,

      Thanks for your inquiry.

      Some trading services let you transfer money easily from your trading account to a high-interest savings account. Others offer linked to debit cards to use with your accounts. You can check our list of high-interest savings accounts and debit cards to compare your options. Both pages have a comparison table you can use to see which account suits you. Once you have chosen a particular account, you may then click the “Go to site” button to be redirected to the bank’s website where you can proceed with your application or get in touch with their representatives for further assistance.

      Before applying, please ensure you review the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.

      Hope this information helps

      Cheers,
      Arnold

    Default Gravatar
    carolineJanuary 31, 2017

    do i have to have an initial account to open a term deposit account, did phone but would take 10mins to answer….only downfall….

      Avatarfinder Customer Care
      ClarizzaJanuary 31, 2017Staff

      Hi Caroline,

      Thanks for your question.

      Depending on the bank and the term (or how long you want to keep your money locked away in a term deposit), there is only a minimum deposit amount required. You can make your initial deposit from any bank account. You can also open a term deposit online, provided you satisfy the eligibility requirements.

      Our term deposit comparison page also features some term deposits. Select the “Go to site” button to be taken directly to the bank’s website to start your online application.

      Regards,
      Clarizza

    Default Gravatar
    carolineJanuary 31, 2017

    with the term deposits, can you access your funds in an emergency….and how do you deposit funds?

      Avatarfinder Customer Care
      ClarizzaJanuary 31, 2017Staff

      Hi Caroline,

      Thanks for your question.

      Typically, term deposits keep your money locked away – you cannot access your money or withdraw it before maturity (when the term ends). If you do, penalty fees apply.

      If you’re looking for a way to save where you can access your savings should you need it, an online savings account could be a good option. You can link it to a transaction account to conveniently deposit and transfer money between accounts.

      Notice savers might also be another alternative. They work similar to a term deposit, however, instead of ‘terms’ you provide the bank a notice period. To find out more, please take a look at our guide discussing Notice Savers.

      Regards,
      Clarizza

      Avatarfinder Customer Care
      DeeJanuary 31, 2017Staff

      Hi Caroline,

      Thanks for your question.

      Generally, you need to notify the bank 31 days in advance before you can withdraw the money. In cases of extreme financial hardship this rule can be waived. Please do note that penalties may apply.

      You can compare term deposit accounts featured on our website.

      You can make a deposit by visiting a local branch or by linking your term deposit account to another where the source of fund is.

      Cheers,
      Anndy

    Default Gravatar
    RussellOctober 25, 2016

    I have $25,000 to put in my savings account… What interest will I get paid. I currently maintain about $3000 to $6000 in my savings account.

      Avatarfinder Customer Care
      ClarizzaOctober 26, 2016Staff

      Hi Russell

      Thanks for your question.

      If you deposit the whole amount ($25,000) and keep it in your account and make no other deposit for 12 months, you will earn $786.11 in interest (with the current 3.05% p.a rate). Please note there are certain conditions required to earn the max variable rate of 3.05%. To receive bonus interest for any calendar month you must have a ME Everyday Transaction Account and during that month make a weekly purchase with your Debit MasterCard using tap & go.

      You can also use the savings calculator above the tables and input your opening deposit, monthly deposit and period to compare interest earned.

      Regards
      Clarizza

    Default Gravatar
    PaulineJuly 18, 2016

    Hi, I am interested in depositing funds for my super fund account. The website advised that as member of certain industry super funds collect a bonus interest.

    However, when I rang ME, your representative says it is not available. Kindly confirm.

    In addition, can I bank a cheque for ME account?

      Avatarfinder Customer Care
      ClarizzaJuly 18, 2016Staff

      Hi Pauline,

      Thanks for your question. I have sent you an email in response.

      Regards,

      Clarizza

Go to site