In this guide

  • Review
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Compare other savings accounts
  • Your reviews
  • Ask a question
ME Term Deposit
Interest rate 6 months interest rate
Up to 4.90% p.a.
Minimum opening deposit
$5,000
Account keeping fee
$0
Maximum deposit
$2,000,000

Summary

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.

Pros

  • $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

Cons

  • ME Bank doesn't have any branches

In this guide

  • Review
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Compare other savings accounts
  • Your reviews
  • Ask a question

Details

Key details

Product Name ME Term Deposit
3 month interest rate 2.25%
4 month interest rate 4.65%
6 month interest rate 4.90%
7 month interest rate 1.75%
9 month interest rate 4.85%
12 month interest rate 4.65%
24 month interest rate 2.00%
36 month interest rate 2.00%
48 month interest rate 2.00%
60 month interest rate 2.00%
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

$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.

Compare other savings accounts

1 - 12 of 186
Updated regularly
Name Maximum Variable Rate p.a. Standard Variable Rate p.a. Intro/Ongoing Government Guarantee Monthly Max Rate Conditions
Ubank High Interest Save Account
Ubank logo
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.00%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $500
  • Savings up to $100,000
Go to siteView details
 Use the code FINDER20 to score $20 after 5 card purchases in your first 30 days (T&Cs on ubank's site).
ING Savings Accelerator ($150,000 - $500,000)
ING logo
Maximum Variable Rate p.a.
5.40%
Standard Variable Rate p.a.
4.70%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Welcome rate applies up to $500K
Go to siteView details
 Ideal for higher balances, savers can earn up to 5.4% for the first 4 months and up to 4.7% thereafter. There are no conditions and $0 account-keeping fees.
Rabobank High Interest Savings Account
Rabobank logo
Maximum Variable Rate p.a.
5.60%
Standard Variable Rate p.a.
4.35%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
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Ubank High Interest Save Account
Ubank logo
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.00%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $500
  • Savings up to $100,000
Go to siteView details
ING Savings Accelerator ($150,000 - $500,000)
ING logo
Maximum Variable Rate p.a.
5.40%
Standard Variable Rate p.a.
4.70%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Welcome rate applies up to $500K
Go to siteView details
Macquarie Savings Account
Macquarie Bank logo
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
5.00%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
Go to siteView details
Suncorp Bank Growth Saver Account
Suncorp Bank logo
Maximum Variable Rate p.a.
5.05%
Standard Variable Rate p.a.
0.35%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Grow balance by $200 each month (excl. interest)
  • Only 1 withdrawal
  • No balance limit on earning interest
Go to siteView details
Bank of Queensland Simple Saver Account
BOQ logo
Maximum Variable Rate p.a.
4.85%
Standard Variable Rate p.a.
4.85%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $5,000,000
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Newcastle Permanent Smart Saver Account
Newcastle Permanent logo
Maximum Variable Rate p.a.
4.50%
Standard Variable Rate p.a.
0.05%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Grow balance
  • No more than 2 withdrawals
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ING Savings Maximiser
ING logo
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.55%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $1,000
  • 5 transactions
  • Grow your balance
  • Balances up to $100,000
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IMB Reward Saver Account
IMB logo
Maximum Variable Rate p.a.
5.25%
Standard Variable Rate p.a.
0.00%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $50
  • No withdrawals
  • Balances up to $1,000,000
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 Earn up to 3.25% p.a. after the introductory period ends.
Bankwest Easy Saver
Bankwest logo
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
4.00%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000.99
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Compare other products from ME Bank

Sources
  1. ME term deposit information page
  2. ME term deposit TMD

Your reviews

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Alison Finder

Editor

Hi there, looking for more information? Ask us a question.

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Avatar

Alison

March 21, 2024

I have one term deposit with ME Bank. Can I have a second term deposit with the same bamk


Avatar

Sarah Megginson Finder

July 16, 2024

Hi Alison, Yes you can take out a second term deposit with ME bank.


Avatar

Debbie Whitehand

December 18, 2023

I have a current account can you please help me understand how I ca get the 5.15% term deposit interest I have $100,000.00 to save


Avatar

Jason Loewenthal Finder

January 08, 2024

Hi Debbie,


As of January 2024, the 5.15% rate is available on the 12-month term deposit. You need a minimum deposit of $5,000 to open an ME Bank term deposit.


I hope that helps.


Avatar

Tom

June 14, 2023

What is the one year term dep rate for a smsf


Avatar

Alison Banney Finder

June 15, 2023

Hi Tom, you can see the ME term deposit rates for business and SMSF customers here: https://www.finder.com.au/business-banking/me-business-banking/me-business-term-deposit


Avatar

Jane

June 29, 2022

Hi there do you have the government guarantee for $250,000 for term deposits?


Avatar

Alison Banney Finder

July 10, 2022

Hi Jane,


You’ve reached Finder. If you are referring to ME bank, the answer is yes. Your savings with ME are protected by a deposit guarantee from the Australian Government.


Thanks,

Alison


Avatar

Ben

June 17, 2022

My sports club has $20,000 to invest.

We have articles of association.

We have a tax file number.

can we invest with you?


Avatar

Alison Banney Finder

June 20, 2022

Hi Ben,


The ME Term Deposit is for personal use only and must be opened by an individual. Instead, you should be able to open the ME Business Term Deposit which is available to companies, trusts, and associations.


Thanks,

Alison


Avatar

Alison Banney

Editor

Alison Banney is the money editorial manager at Finder. She covers all areas of personal finance, and her areas of expertise are superannuation, banking and saving. She has written about finance for 10 years, having previously worked at Westpac and written for several other major banks and super funds. See full profile

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