In this guide

  • Our verdict
  • Details
    • Key details
  • Key features
  • How to apply
  • Your reviews
  • Ask a question
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ME HomeME Savings Account

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ME HomeME Savings Account
Maximum variable rate
5.55% p.a.
Base interest rate
Minimum deposit

Our verdict

You can earn a really impressive ongoing bonus rate of 5.55% p.a., however you need to deposit $2,000 per month.

This account offers one of the highest ongoing bonus rates in the market at 5.55% p.a. This is a fantastic rate, however, keep in mind you do need to deposit $2000 per month into the linked transaction account to get the bonus rate, which is higher than most other bonus savings accounts. This could be easy to meet if you get your regular salary or wages deposited into the account - but if you don't earn a regular income this could be tricky to meet.

Another good thing about this account is that there are no monthly spend requirements and you can make withdrawals from your savings throughout the month if you need to. However, you do need to make sure your savings balance grows by the end of the month to be eligible for bonus interest, which means you need to replace any money you withdrew (plus a little extra!).


  • Ongoing bonus rate is one of the best in market
  • Tiered bonus rates means you still earn interest on larger balances
  • Savings tools offered in the app


  • High monthly deposit of $2000 required for bonus interest
  • Low variable base rate if bonus interest criteria isn’t met

In this guide

  • Our verdict
  • Details
    • Key details
  • Key features
  • How to apply
  • Your reviews
  • Ask a question


Key details

Product Name ME HomeME Savings Account
Maximum Variable Rate 5.55% p.a.
Standard Variable Rate 0.55% p.a.
Monthly Account Fee $0
Minimum Age 14

Key features

Ongoing variable bonus rate of 5.55% p.a.

This account offers a total ongoing variable bonus rate of 5.55% p.a. when you meet the following account conditions each month:

  • Deposit at least $2000 into your linked SpendME transaction account
  • Grow your savings balance (excluding interest paid by ME)

This bonus rate is available on balance up to $100,000.

Balances between $100,000 and $1 million

If you save any money beyond $100,000 you still earn interest on this cash, but at a lower rate.

  • You can earn 5.55% p.a. p.a. on balances up to $100,000.
  • You can earn 3% p.a. on balances between $100,001 to $1,000,000.
  • You can earn 0.55% p.a. on balances above $1,000,000.

You'll still earn the full bonus rate of 5.55% p.a. on the portion of your balance under $100,000.

Variable base rate of 0.55% p.a.

This account has an ongoing variable base rate of 0.55% p.a. each month. This is the rate you’ll earn if you don’t meet the bonus criteria one month (if you don’t meet the criteria one month, you can still be eligible for bonus interest the following month).

How to apply

This account can only be opened via the ME Go app, so you’ll need to download the app as a first step. The application process will require you to verify your identity using 2 forms of ID such as your driver’s license, passport or Medicare Card.


  • You must be over 14 years old
  • You must be an Australian resident with an Australian residential address
  • You must be using the account for personal use (no business or SMSF customers)

Your reviews

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February 19, 2024

I am reading that you just need to deposit 2000 but the balance only needs to GROW no specified amount so if I put 2k in and with draw $1999 do I still qualify for the bonus interest


Sarah Megginson Finder

March 25, 2024

Hi Tink, Yes that’s right, as long as the account balance grows you’ll be eligible for the bonus interest.



January 19, 2024

Hi, Can you open this account even though you held a ME account previously?


Richard Whitten Finder

January 22, 2024

Hi Elizabeth – I suggest checking with ME Bank directly about this.



January 14, 2024

Hi there

if I long term deposit $500000 how much I will receive very month?



Richard Whitten Finder

January 23, 2024

Hi Varooj,

You can estimate this using a term deposit calculator. It depends on the interest rate and the length of the term.


Lavenia Sigawalu

January 13, 2024

Hi, is there a min amount requirement per month for the transfer into savings?


Jason Loewenthal Finder

January 15, 2024

Hi Lavenia,

The minimum monthly deposit is $2,000 to receive the bonus interest.

I hope that helps.



January 05, 2024

I intend to deposit 65000 initially and 5000 per month how much would I earn ? Would it be every month ?


Sarah Megginson Finder

January 05, 2024

Hello, yes if you need the conditions, you would earn the bonus rate every month. The rate as of today is 5.55%; $65,000 would earn around $300 per month. This would increase each month as you continue adding to the account.

Hope this helps!

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