ME InterestME Savings Account

ME InterestME Savings Account

Maximum Variable Rate


Standard Variable Rate


Spend and save online with the InterestME Savings Account from ME Bank.

  • Up to 15 free EFTPOS transactions per month
  • Linked cheque book available
  • Free phone and online banking

Product details

The InterestME Savings Account is a dual banking product that allows you to earn interest on balances while providing you with complete access to the money the same way in which a transaction account does. You won’t be charged any monthly account keeping fees, but you will have to pay for certain transactions after reaching a threshold. This system encourages you to think carefully before you start spending your savings.

Be mindful that you need to maintain a balance to get the bonus interest rate.

Product Name
ME InterestME Savings Account
Maximum Variable Rate
0.75% p.a.
Standard Variable Rate
0.75% p.a.
Introductory / Bonus Offer Conditions
The InterestME account pays 0.05% interest p.a. on funds up to $3,000, and then pays 0.75% interest p.a. on any funds over $3,000.
Monthly Fee
Minimum Opening Deposit
Internet Banking
Internet Transaction Fee
Phone Banking
Phone Transaction Fee
Joint application?
Minimum Age Requirement
Maximum Age Requirement
No Maximum Age
Covered by Government Guarantee?
Yes (Up to $250,000 per person, per institution)

What are the features of the InterestME Savings Account?

The InterestME Savings Account has unique features that should be compared against other banks savings products before you make a final commitment. These features include:

  • Monthly account keeping fees. You pay no monthly account keeping fees with the InterestME Savings Account.
  • Interest. Small balances under  will have a nominal rate of interest applied to them.
  • Bonus interest. You are rewarded with a higher interest rate when you maintain a balance of at least .
  • Interest payments. Interest is calculated on your daily balance and deposited into the account monthly.
  • Balance requirements. There are no minimum monthly balance requirements with this account.
  • Accessibility. You are able to access the money in your account by using EFTPOS, ATMs, online and phone banking.
  • Debit card. This account is linked to a Visa MasterCard which can be used to make withdrawals at an ATM or point of sale purchases.
  • EFTPOS limits. You are allowed up to 15 EFTPOS transactions each month. After that, you will be charged $1 for each one.
  • Cash withdrawals. You can use the linked debit MasterCard at any ME, Westpac, Bank of Melbourne, St.George or BankSA ATMs to make withdrawals from your account. For each transaction you will be charged $1. There is a $2,000 limit on the amount of cash you can withdraw in any one day.
  • Deposits. You can use direct credit to make deposits into the InterestME Savings Account or online banking to transfer money from another account. You can also deposit cash or cheques at any Bank@Post location.
  • Branch banking. ME operates entirely online, so there are no options for branch banking with this account.
  • Terms. This account is meant to be used as a personal account only, not for business purposes.


  • $3000 minimum balance required.
  • $0 account keeping fee.
  • Free EFTPOS transactions per month.


  • There are fees and charges on most of the bank transactions.

How do I apply for the InterestME Savings Account?

If you think that that the features of the InterestME Savings Account work with your spending and saving style, you can apply online by clicking “Go to Site”.

Eligibility to apply online

Before accepting your application, ME Bank will check the following to ensure that you are eligible for this account:

  • Minimum age. This account can be opened by individuals as young as 12 years old.
  • Residency requirements. You must be an Australian citizen or permanent resident in order to be considered.
  • Depository requirements. You are not required to meet any minimum deposit requirements.


The following documentation will also be needed as you make your way through the online application forms:

  • Tax file number. While you are not obligated to provide your tax file number (TFN), doing so will ensure that the withholding tax on any interest earned is at the rate which applies to you.
  • Identification. All applicants and joint applicants must provide a photo ID as proof of identity. This could be done using an Australian driver’s licence or your valid passport.

After submitting your application you will hear from ME Bank confirming its receipt. After they have reviewed and verified your information, you will be notified of the account details. The debit MasterCard will be mailed to the address you provided within ten business days of the account being opened, and will need to be activated once received other online or over the phone.

Up to what rate do I get the bonus interest?

You can earn 2.00% p.a. interest on every dollar over $3,000 (and 0.05% p.a. on every dollar up to $3,000).

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