Bank and save with bonus interest

Bank and save with up to 1.35%p.a.

Our variable interest rate is made up of a 0.10% p.a. base rate and a 1.25% bonus rate when you have an Everyday Transaction Account and meet our criteria.

Bonus rate criteria1:

  • Have both our Online Savings Account and Everyday Transaction Account (you can open both at the same time).
  • Make at least four tap & go™ purchases per month – which must be settled, not pending – using your Everyday Transaction Account.
  • Bonus interest applies to balances up to $250,000 on each Online Savings Account you open (on accounts opened after 10 Aug 2015).
multiple accounts

Got multiple goals? Get multiple accounts.

Whether you’re saving for Reykjavik, renos or rainy days, you can create accounts for each of your life goals. Our 1.35% p.a. interest rate applies to balances up to $250,000 on each Online Savings Account you open and meet the bonus rate criteria for.

We won’t sting you for moving your money.

We won’t sting you for moving your money.

Whether you’re saving for Reykjavik, renos or rainy days, you can create accounts for each of your life goals. Our 1.35%p.a. interest rate applies to balances up to $250,000 on each Online Savings Account you open and meet the bonus rate criteria for.

Savings calculator.

See how fast we'll get you there if you combine an Online Savings Account with Everyday Transaction Account and Tap & Go™ at least 4 times per month.

Your target is lower than the amount you have currently saved.
Your target is lower than the amount you have currently saved.

You could save

with our 1.35% p.a. Online Savings Account bonus variable rate. Conditions apply.

To reach your goal

with our 1.35% p.a. Online Savings Account bonus variable rate. Conditions apply.

To reach your goal

with our 1.35% p.a. Online Savings Account bonus variable rate. Conditions apply.

Digital wallet on an Android and Apple phone

Digital wallets have arrived.

Let’s forget physical – you can now pay securely using your favourite device anywhere, anytime. So you can forget your wallet on purpose next time.

Get started with digital wallets

Open an account in minutes.

It takes approximately 5 minutes to apply.

You’ll need to have

  • your passport, Australian driver’s licence or Medicare card
  • your Tax File Number (optional)

You’ll need to be

  • at least 12 years old
  • an Australian citizen, permanent resident or resident for tax purposes

What happens next

If we can verify you online, your account will open instantly – you can start earning interest today.

Open now

FAQs.

Awarded RateCity’s Gold award for the Best Savings Account in the Regular Savers Category

RateCity rate ME.

Awarded RateCity’s Gold award for the Best Savings Account in the Regular Savers Category 2020. Winners determined by averaging the daily Real Time Ratings™ over a three-month period to identify the savings accounts consistently performing at the top of the market.

The legal stuff.

The legal stuff.

Online Savings Account terms and conditions
Everyday Transaction Account terms and conditions
Fees and charges guide

Interest rate is current at 27-Oct-2020 and subject to change.
 
1. Online Savings Account (OSA) variable bonus interest terms and conditions.
To receive bonus interest on your OSA for any calendar month you must have a ME Everyday Transaction Account (ETA) and during that month you make at least four tap & go™ purchases with your ETA debit Mastercard® which are settled by us with the relevant merchant. 

Your OSA(s) and ETA(s) must be in the same name (sole name accounts) or names (joint name accounts) for you to be eligible for bonus interest. 

Bonus interest is only payable on balances up to $250,000 on each OSA you open. 

You’re automatically eligible for bonus interest on each of your OSAs unless they were opened before 10/08/15, in which case you’re only eligible for bonus interest upon request from the date of the request. 

Purchases made in a calendar month which are settled by us in the next calendar month (for reasons beyond our control) do not count towards the four card purchases needed in the calendar month, but will contribute to the next calendar month’s count. If, on the day you close your OSA, there have been purchase transactions at the time of closure which have not yet been settled by us, these will not be eligible purchases for bonus interest. 

If you don’t meet all of these bonus interest conditions you will receive variable base rate interest only, however in any month we may without notice waive the requirement for you to meet all of these conditions. We may change or withdraw the bonus interest offer at any time.

2. Free ATM access terms and conditions.
Open your new Everyday Transaction Account & receive a refund on fees incurred at all ATMs in Australia usually within 5 minutes of the transaction. We may change or withdraw this offer at any time.

Government guarantee
Your total deposits in ME are protected up to a limit of $250,000. This protection is provided as part of the Financial Claims Scheme (FCS), which is an Australian Government scheme that provides protection and quick access to deposits in banks, building societies and credit unions in the unlikely event that one of these financial institutions fails. For more information about the FCS go to www.fcs.gov.au

Savings calculator information.
The results from this calculator are indicative only and shouldn’t be used for financial planning purposes. The calculation is based on the information input by you and assumes you qualify for the OSA bonus interest rate each month, the interest rate doesn’t change, you deposit the daily required savings each day and interest is calculated and paid in accordance with the OSA terms and conditions. This is general information only and you should consider if these products are appropriate for you.

Other.
Terms, conditions, fees and charges apply.

This is general information only and you should consider if these products are appropriate for you.

Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.