ME term deposit

2019 Winner
Last updated:  

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.

Up to 1.65% p.a.

Interest rate

12 months interest rate

$5,000

Minimum opening deposit

$0

Account keeping fee

$2,000,000

Maximum deposit

Details

Product NameME Term Deposit
3 month interest rate1.50%
4 month interest rate1.50%
6 month interest rate1.60%
7 month interest rate1.60%
9 month interest rate1.60%
12 month interest rate1.65%
24 month interest rate1.50%
36 month interest rate1.50%
48 month interest rate1.50%
60 month interest rate1.50%
Minimum Opening Deposit$5,000
Minimum Age Requirement18
The rates displayed above are interest rates paid at maturity only. We endeavour to ensure that the information on this site is current and accurate but you should confirm any information with the product or service provider and read the information they can provide.

Key features

$0 Monthly account keeping fees

ME will not charge you any monthly fees.

Minimum investment of $5,000

You can open a term deposit with ME with an initial deposit of $5,000.

Launch term deposit calculator


How to apply

If you're considering opening up a ME Term Deposit, here's what you need for your application.

Eligibility

There are some eligibility requirements you should check first before continuing:

  • Minimum age. You must be at least 18 years of age to open the account.
  • Residency requirements. A term deposit is available for Australian permanent residents or an Australian resident for tax purposes with a valid Australian residential address.

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46 Comments

  1. Default Gravatar
    Suzanne
    October 23, 2019

    Can I contact ME directly?

    • Default Gravatar
      Nikki
      October 25, 2019

      Hi Suzanne,

      Thanks for getting in touch! Yes, you can contact Me directly for any concerns you need and to get their contact information, simply click the GO TO SITE button you’ll see on the top right part of our page and you will be brought to the official website of ME.

      Hope this helps and feel free to reach out to us again for further assistance.

      Best,
      Nikki

  2. Default Gravatar
    Terrt
    October 17, 2019

    Do you have a branch in Hervey Bay, Queensland?

    • Default Gravatar
      Ash
      October 17, 2019

      Hi Terrt,

      Thank you for contacting Finder.

      Unfortunately, ME Bank doesn’t have a physical branch as it is an all-digital bank. The money that they save in setting up a physical branch is being returned to their customers through their competitive rates.

      I hope this helps.

      Cheers,
      Ash

  3. Default Gravatar
    John
    October 3, 2019

    Want to invest $155,000 for 12 months at about 1.9 .
    My Citibank term ends on 30-Oct-19.

    • Default Gravatar
      Nikki
      October 6, 2019

      Hi John,

      Thanks for your comment. It’s great to know that you are interested to invest with the ME term deposit. To get started, please check the ME website to apply online. As a friendly reminder, review the eligibility criteria, fees, interest rates, and terms & conditions of this account before applying. You may also contact the bank should you have any questions about their product.

      Hope this helps and feel free to reach out to us again for further assistance.

      Best,
      Nikki

  4. Default Gravatar
    Ross
    September 19, 2019

    I have some money within my self managed super fund invested in a term deposit with another institution that is just about to mature.
    Can a SMSF with two trustees invest in the ME term deposit?

    • Default Gravatar
      Ash
      September 21, 2019

      Hi Ross,

      Thanks for contacting Finder.

      For the ME Term Deposit Account, you may only open it as a personal account. To compare the SMSF Term Deposit Account that you may open, you may check this page.

      Please make sure that you’ve read the relevant T&Cs or PDS of this account to help consider whether the product is right for you.

      I hope this helps.

      Please do not hesitate to reach out if you have additional questions.

      Cheers,
      Ash

  5. Default Gravatar
    simon
    September 17, 2019

    Hi are ME Bank are term deposits used for green projects and not fossil fuel?

    • Default Gravatar
      Nikki
      September 18, 2019

      Hi Simon,

      Thanks for your comment. Finder is a comparison service and you can use our tables to compare the fees and rates offered on a range of deposit products. However, we can’t advise how any particular bank chooses to invest the money that consumers deposit. We suggest asking ME directly for information on how they invest.

      Hope this helps and feel free to reach out to us again for further assistance.

      Best,
      Nikki

  6. Default Gravatar
    Kevin
    August 29, 2019

    Need to open a business term deposit

    • Avatarfinder Customer Care
      Jeni
      August 29, 2019

      Hi Kevin,

      Thank you for getting in touch with Finder.

      For a business term deposit account with ME, please contact them directly to speak with they business relations manager regarding your query on opening a business account with them. You may visit their official page to learn more on the rates but you need to get in touch with them about opening an business term deposit account.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

  7. Default Gravatar
    alan
    August 8, 2019

    i have recently filled out a term deposit form i did not mark a box for tax excempsion could you please mark this for me as i cannot bring up the forn i do not have internet banking

    • Default Gravatar
      Nikki
      August 9, 2019

      Hi Alan,

      Thanks for getting in touch!

      Great to hear you’re looking to get a term deposit from ME bank. While Finder reviews Me in one of our page, please know we are not partnered with them. It would be best to get in contact with their customer service team to proceed with your request.

      Sorry, I can’t be of much help. Feel free to message back if you have further questions.

      Best,
      Nikki

  8. Default Gravatar
    Rowena
    August 6, 2019

    I am awaiting the result of my application for permanent residency (UK citizen). Can I open a term deposit account?

    • Default Gravatar
      Nikki
      August 7, 2019

      Hi Rowena,

      Thanks for getting in touch! As it says above, one of the eligibility requirements you should check first before continuing is that you must be an Australian permanent resident or an Australian resident for tax purposes with a valid Australian residential address.

      Hope this was helpful. Don’t hesitate to message us back if you have more questions.

      Best,
      Nikki

  9. Default Gravatar
    Shahram
    May 21, 2019

    If I had two accounts in Me bank, one savings and the other term deposit and each has $250000 in it, will be both account include government guarantee?

    • Avatarfinder Customer Care
      Jeni
      May 22, 2019

      Hi Shahram,

      Thank you for getting in touch with Finder.

      Please note that your total deposits in ME are protected up to a limit of $250,000. Kindly contact ME directly on this matter if you need further clarification.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

  10. Default Gravatar
    sarah
    March 20, 2019

    What is the minimum age you need to be to open an ME term deposit? Can I open one for my 11-year-old daughter?

    • Avatarfinder Customer Care
      Joshua
      March 21, 2019

      Hi Sarah,

      Thanks for getting in touch with Finder. I hope all is well with you. 😃

      For ME term deposit, the minimum age requirement is 12 years old. For this reason, you need to wait for your daughter to turn 12 years old.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

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