In this guide

  • Review
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Your reviews
  • Ask a question
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ME Business Term Deposit

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ME Business Term Deposit
Interest rate 12 months interest rate
Up to 4.6% p.a.
Minimum opening deposit
$5,000
Account keeping fee
$0

Summary

This term deposit is available to businesses and SMSFs and offers a fixed interest rate on terms between 1 month to 60 months.

Invest your money for a term length that suits you, between 1 month to 60 months at a time, and enjoy a fixed interest rate on your funds while paying no account fees. The ME Business Term deposit is suited to business and SMSF customers looking for a safe and secure way to invest their funds, offering up to 1.35% p.a. on 7 month terms.

Pros

  • A true zero fee account, with no fees at all
  • Flexible term options, from as little as 1 month
  • Choose ahead of time whether to reinvest for another term or close the account
  • Peace of mind with fixed interest rates

Cons

  • ME Bank has no branches. You’ll need to transact online
  • Interest reduced for early account closure

In this guide

  • Review
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Your reviews
  • Ask a question

Details

Key details

Product Name ME Business Term Deposit
3 month interest rate 2.05%
4 month interest rate 4.35%
6 month interest rate 4.50%
7 month interest rate 1.35%
9 month interest rate 4.50%
12 month interest rate 4.60%
24 month interest rate 3.10%
36 month interest rate 3.10%
48 month interest rate 3.10%
60 month interest rate 3.10%
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

Key features

Guaranteed returns

You cannot lose money by depositing it into a ME Business Term Deposit. There are no fees, and you will always earn some interest, even if you need to withdraw the money early before your term reaches maturity. Account holders will receive 30 days notice by ME if this is set to change.

Zero fees

There are no fees at all for ME Business Term Deposits, letting you keep your business funds secure, while simultaneously earning interest.

Launch term deposit calculator


How to apply

If the ME Business Term Deposit is right for your needs, here's what you'll need for your application.

Eligibility

  • It is for business, and not personal or domestic uses, only.
  • You are at least 18 years old

Your reviews

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Ask a question

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Andrew Finder

Editor

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dean

September 01, 2023

is interest rate better for monthly paid interest or maturity paid.


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Alison Banney Finder

September 08, 2023

Hi, currently the interest rates offered by ME are slightly higher when you opt to receive interest at maturity.


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Tony

August 02, 2023

Hi

If the govt guarantee is up to $250k per person/account, then if I opened two separate accounts for my SMSF (that has two trustees/members) for $250k per account, would the full $500k be guaranteed?


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Raj Lal Finder

August 21, 2023

Hi Tony,

Yes you would be covered based on APRA’s wording for SMSF “SMSFs are recognised as an account holder under the FCS, any additional accounts held by the trustees of the SMSF would be covered separately”


You can view the full explanation on the APRA website here.


Thanks

Raj


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Tony

August 07, 2022

What is the best rate I can get for a $400,000 business term deposit for 12 months


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Alison Banney Finder

August 08, 2022

Hi Tony,


The interest rates vary depending on when it will be paid out. Here’s a rundown of the rates:


– Interest paid at maturity – 3.00% p.a.

– Interest paid monthly – 2.95% p.a.

– Interest paid annually – 3.00% p.a.


Best,

Alison


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Carol

October 04, 2019

Are they any special 6 months term for $1,600 or special rates for deposits over $1,000?


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Ash

October 04, 2019

Hi Carol,


Thanks for contacting Finder.


No, there is no special rate for 6 months term at it is at 2.05%. Kindly take note that the minimum investment amount for the ME Business Term Deposit account is $5,000 so there will be no other rates for deposits between $1,000 to $1,600. All their interest rates applies for investments amounting from $5,000 up to $2,000,000. For deposit amount more than $2,000,000, you need to contact ME Bank for their rates.


I hope this helps!


Cheers,

Ash


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Geoffrey

April 22, 2018

I wish to invest in a term deposit for my SMSF. Do I need to lodge a copy of the Trust Deed when applying for a term deposit? Money would be transferred from my SMSF Business Account at an Australian bank.


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Jeni Velasco Finder

April 22, 2018

Hi Geoffrey,


Thank you for getting in touch with Finder.


The documents you need to supply when opening an SMSF term deposit account will vary depending on whether your SMSF has an individual or corporate trustee structure. For SMSFs with individual trustees you will need to provide a certified copy of the relevant sections of the SMSF trust deed that clearly state:



  • The name of your super fund

  • The individuals listed in the application as the fund members and trustees


If the trustee of your SMSF is a company, your bank will need certified copies of the sections of the SMSF trust deed that identify the corporate entity as the trustee and the individuals listed as members.


I hope this helps.


Have a great day!


Cheers,

Jeni


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