Save on your terms.

Get guaranteed returns: lock in a rock-solid term deposit interest rate, and pay no account-keeping fees at all.

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Get free

Currently no set-up fees, no account-keeping fees. It’s your cash, and it stays that way.

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Get flex

Invest as little as $1000 or as much as $1 million, for between one month and five years.

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Get paid

Get payouts monthly, quarterly, half-yearly, annually or at maturity.

Rate Rundown.

Looking to stay up to date on our best rates? Leave your details and we’ll keep you in the loop.

  • Interest paid at maturity
    1 month
    2.10% p.a.
    2 month
    2.10% p.a.
    3 month
    2.50% p.a.
    4 month
    2.50% p.a.
    5 month
    2.85% p.a.
    6 month
    2.75% p.a.
    7 month
    2.85% p.a.
    8 month 
    2.70% p.a.
    9 month
    2.85% p.a.
    10 month
    2.70% p.a.
    11 month
    2.80% p.a.
    12 month
    2.90% p.a.
  • Interest paid monthly
    2 month
    2.05% p.a.
    3 month
    2.45% p.a.
    4 month
    2.45% p.a.
    5 month
    2.80% p.a.
    6 month
    2.70% p.a.
    7 month
    2.80% p.a.
    8 month 
    2.65% p.a.
    9 month 
    2.80% p.a.
    10 month 
    2.65% p.a.
    11 month 
    2.75% p.a.
    12-17 month 
    2.85% p.a.
    18-23 months 
    2.85% p.a.
    24-35 months 
    2.95% p.a.
    36-47 month 
    2.95% p.a.
    48-59 month 
    2.95% p.a.
    60 month 
    2.95% p.a.
  • Interest paid quarterly
    4 month
    2.45% p.a.
    5 month
    2.80% p.a.
    6 month
    2.70% p.a.
    7 month
    2.80% p.a.
    8 month
    2.65% p.a.
    9 month
    2.80% p.a.
    10 month
    2.65% p.a.
    11 month 
    2.75% p.a.
    12-17 month 
    2.85% p.a.
    18-23 month 
    2.85% p.a.
    24-35 month
    2.95% p.a.
    36-47 month
    2.95% p.a.
    48-59 month 
    2.95% p.a.
    60 month 
    2.95% p.a.
  • Interest paid half yearly
    7 month
    2.80% p.a.
    8 month
    2.65% p.a.
    9 month
    2.80% p.a.
    10 month
    2.65% p.a.
    11 month
    2.75% p.a.
    12-17 month
    2.85% p.a.
    18-23 month
    2.85% p.a.
    24-35 month 
    2.95% p.a.
    36-47 month 
    2.95% p.a.
    48-59 month 
    2.95% p.a.
    60 month 
    2.95% p.a.
  • Interest paid annually
    12-17 month
    2.90% p.a.
    18-23 month
    2.90% p.a.
    24-35 month 
    3.00% p.a.
    36-47 month 
    3.00% p.a.
    48-59 month 
    3.00% p.a.
    60 month 
    3.00% p.a.

Looking for a business term deposit?

Do the maths.

See how your savings can grow with competitive interest rates and zero bank fees. Calculate now.

Just the facts.

Establishment fee
$0
Account-keeping fee
$0
Terms
1 month – 5 years
Minimum deposit
$1,000
Payment options
Monthly, quarterly, half-yearly, annually or at maturity for terms under 12 months. For terms over 12 months annually and at maturity. 
Government guaranteed
Amounts up to $250,000 guaranteed by the Financial Claims Scheme
  • Early withdrawals
    Early withdrawal notice (for accounts opened from 29 May 2016)
    31 days’ notice required
    Early withdrawal interest adjustment (for accounts opened from 13 July 2014)
    Percentage of term elapsed
    Percentage reduction to interest
    0% to < 20%
    90%
    20% to < 40%
    80%
    40% to < 60%
    60%
    60% to < 80%
    40%
    80% to < 100%
    20%

Apply now.

Let's make beautiful banking together

What you need to apply

Who you need to be
  • at least 12 years old
  • an Australian citizen, permanent resident, or resident for tax purposes with an Australian residential address
  • opening an account for personal use
  • not a US citizen or tax resident
In Hand
  • your drivers license or passport
  • your tax file number
  • your ME account number (if you're already a customer)
On the clock
  • about 5 minutes

Terms of endearment.

Our great term deposit rates haven’t gone unnoticed – here are a couple of accolades we’ve picked up recently.

Award Mozo 99X125px

Award Moneymag 99X125px

Managing your term deposits.

  • Maturity instructions

    You can set up instructions for what happens when your term deposit matures. Let us know what you’d like – send us a secure mail by logging in to internet banking or call on 13 15 63.

  • The rollover

    If you haven’t set your maturity instructions, when your term deposit matures we’ll reinvest it for the same term and interest payment frequency, at the interest rate that applies on that day.

  • Cooling-off period

    If we’ve automatically rolled over your term deposit, you can withdraw your cash within the next seven days without facing an early withdrawal interest adjustment.

  • Emergency withdrawal

    If you need to, you can take the cash out of your term deposit early – but you need to give 31 days’ notice, and you’ll face an early withdrawal interest adjustment. You can find out how much your interest will be affected by calling us on 13 15 63

Still have a question? Find more answers

the legal stuff.

Term Deposit terms and conditions
Fees and charges guide

Interest rates are current as at 8am 21-Feb-2017 and subject to change.

Terms and conditions apply. Fees and charges may apply. This is general information only and you should consider if this product is right for you.

Rates are for deposits between $1,000 and $1,000,000. For rates for amounts above $1,000,000, contact ME on 13 15 63.

You will get the interest rate that applies to your term deposit on the day your complete application is received as long as funds are received within three business days of your application.

All terms are in calendar months. We offer terms between one month and 60 months.

Your total deposits with ME up to $250,000 are guaranteed under the Australian Government Financial Claims Scheme.

The above rates are based on interest paid at maturity for terms up to 12 months and interest paid annually and at maturity for terms greater than 12 months.

You can only withdraw funds from your term deposit by giving us 31 days prior notice for accounts opened or reinvested on or after 29 May 2016.

We will credit interest at the selected interest payment frequency and at the maturity of the term.