ME Term Deposit

ME Term Deposit

2019 Winner

Min. Opening Deposit


Account Keeping Fee


Have spare funds lying around? Make your money work harder for you and let it earn interest with a ME term deposit.

  • Earn a competitive interest rate of 1.75% p.a. on a 6 month investment
  • Peace of mind with a fixed interest rate
  • $0 setup and account keeping fees
  • Start with an investment amount of $5,000

Product details

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.


You can start investing today with a deposit of $5,000 or more. For investment amounts more than $1,000,000, please get in touch with ME Bank directly for special rates.

Product Name
ME Term Deposit
1 month interest rate
3 month interest rate
4 month interest rate
6 month interest rate
7 month interest rate
9 month interest rate
12 month interest rate
24 month interest rate
36 month interest rate
48 month interest rate
60 month interest rate
Min Deposit
Minimum Age Requirement

What are the features of the ME term deposit?

When making your account comparisons, keep these in mind about ME and it's term deposit.

$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.

Flexible terms

You can choose terms ranging from 1 month to 60 months at a time.

How is my interest paid?

Interest is calculated daily with you choosing how often it is paid to you. Depending on the length of your term you can have interest paid monthly, annually or at maturity. Choosing to have your interest payments paid with more frequency will result in a slight reduction of the rate.

Interest payments are made into the account which you have linked with your term deposit with the exception of those made at maturity. These you can choose to have added to your balance.

You'll need to pick a nominated account

You must be able to provide details of another account, either with ME or another Australian financial institution, in order to be able to transfer money into your term deposit and for interest payments to be made. This account must be in the same name, or names if a joint account, as the one listed on the term deposit. You can compare other ME everyday and savings accounts here.

Penalties apply to early withdrawals

If you find that you need to withdraw your deposit before the account matures, the interest will be reduced by a percentage based on the amount of time that has elapsed since you opened the account.

Available for personal use only

This is an account intended for personal use only. If you wish to open a term deposit for your business, ME offers a separate product.

Available as joint accounts

This account is available for up to two account holders.

Reinvestment options

Approximately 10 days before the account is scheduled to mature, ME will contact you enquiring for your maturity instructions. You can choose to have all or a partial amount of the funds transferred to your nominated account or reinvest in a new term deposit.

If you do not provide instructions within two days of maturity, ME will automatically roll over the money into a new term deposit for the same period of time and at the posted interest rate applicable on that date.

Launch term deposit calculator


  • $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


  • ME Bank doesn't have any branches

How do I apply for a ME Term Deposit?

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

Eligibility to apply online

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.
  • Depository requirement. You must be able to deposit at least $5,000 into the account within three business days after it has been opened.

Documentation to apply online

You should also have access to the following documentation in order to ensure that the application is completed in full:

  • Tax file number. Providing your tax file number (TFN) or exemption code is not obligatory, but it does ensure that the correct withholding tax is being applied to your interest earnings.
  • Identification. Every attempt to verify your identity online will be made using your driver’s licence or passport information. If this is not possible, you could be asked to visit a branch to complete your identification verification.
  • Nominated account. The name and account number of the account you will be using to make transfers from.

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46 Responses

  1. Default Gravatar
    SuzanneOctober 23, 2019

    Can I contact ME directly?

    • Avatarfinder Customer Care
      NikkiOctober 25, 2019Staff

      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.


  2. Default Gravatar
    TerrtOctober 17, 2019

    Do you have a branch in Hervey Bay, Queensland?

    • Avatarfinder Customer Care
      AshOctober 17, 2019Staff

      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.


  3. Default Gravatar
    JohnOctober 3, 2019

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

    • Avatarfinder Customer Care
      NikkiOctober 6, 2019Staff

      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.


  4. Default Gravatar
    RossSeptember 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?

    • Avatarfinder Customer Care
      AshSeptember 21, 2019Staff

      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.


  5. Default Gravatar
    simonSeptember 17, 2019

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

    • Avatarfinder Customer Care
      NikkiSeptember 18, 2019Staff

      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.


  6. Default Gravatar
    KevinAugust 29, 2019

    Need to open a business term deposit

    • Avatarfinder Customer Care
      JeniAugust 29, 2019Staff

      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!


  7. Default Gravatar
    alanAugust 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

    • Avatarfinder Customer Care
      NikkiAugust 9, 2019Staff

      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.


  8. Default Gravatar
    RowenaAugust 6, 2019

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

    • Avatarfinder Customer Care
      NikkiAugust 7, 2019Staff

      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.


  9. Default Gravatar
    ShahramMay 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
      JeniMay 22, 2019Staff

      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!


  10. Default Gravatar
    sarahMarch 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
      JoshuaMarch 21, 2019Staff

      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!


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