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Let ME work harder for your nest egg with our term deposits, featuring locked in competitive
interest rates and the choice of term that fits you.
Term deposits.
Let ME work harder for your nest egg with our term deposits, featuring locked in competitive
interest rates and the choice of term that fits you.
for interest paid at maturity.
Term Deposit features.
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With our term deposits, get fixed returns: lock in rock-solid interest rates, choose from a range of terms that suit you and pay no account-keeping fees at all.
Get fee free.
With no application or establishment fees and no account keeping fees, grow every cent you deposit.
Flexible.
With a term deposit from ME, you’re in the driver’s seat. You can decide your investment amount and how long you want to lock it away. Invest as little as $5000 or as much as $2 million, with terms ranging from between one month to 60 months.2
Fixed returns.
Wave goodbye to the guessing game and say hello to knowing exactly what your returns are going to be. With ME, you can lock in your investment amount and term length, ensuring you’ll know exactly what’s in store for your returns.
Guaranteed savings.
Your term deposit savings are protected by the Australian Government's deposit guarantee.
Learn more.Here to help.
Got questions, concerns or queries? Say g’day to our Aussie call centre, which we keep here locally meaning top quality service and support when you need it. Have peace of mind knowing we’re here to help you with your term deposit.
Resources to help manage your money.
Looking for more ways to save and grow your money? You can find a wealth of resources at ME’s Money Management Hub, with bite sized tips and lessons to get you financially fit.
Money Management Hub.
Investments must be between $5,000-$2,000,000
5000
2000000
50000
6
at maturity
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Calculate your estimated return.1
See how your savings can grow with competitive term deposit rates, zero bank fees and our fixed term deposits.
Interest paid at maturity
Top facts
Terms
1 month – 60 months
Government Guarantee
Amounts up to $250,000 guaranteed by the Financial Claims Scheme.
Payment options
Under 12 months: Monthly or at maturity.
12 months or longer: Monthly, annually and at maturity.
Early withdrawals
Early withdrawal notice
31 days’ notice required
Early withdrawal interest adjustment
Percentage of term elapsed
Percentage reduction to interest
You’ll need to have
- about 5 minutes
- your passport, Australian driver licence or Medicare card
- your tax file number
- your bank account details
You’ll need to be
- at least 12 years old
- an Australian citizen or permanent resident
- opening an account for personal use
What happens next
If we can verify you online, your term deposit will be open as soon as the funds are received – usually within two business days.
Term Deposit Maturity.
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Here are your options once your term deposit has matured.
Renewal.
Keep the good times rolling by reinvesting your now-matured term deposit into a new one - a bigger principal means bigger returns!
Withdrawal.
You can now take your initial investment and all your returns to spend (or save) to your heart's content.
Adjust Your Maturity Instructions.
If you choose to reinvest your term deposit, you can change your instructions for all or part of your term. We’ll write to you approximately ten business days prior to the maturity of your term deposit to confirm your maturity instructions.
Contact ME.
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We're available to help from
Mon-Fri 8am-8pm (AEST/AEDT)
Sat 8am-6pm (AEST/AEDT)
Get more from ME.
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Get guaranteed returns: lock in rock-solid term deposit interest rates, and pay no account-keeping fees at all.
Tools & support.
Need more help understanding term deposits? We got you.
Understanding term deposits.
Whether you’re putting money into your term deposit or changing your term deposit maturity instructions, get the lowdown on term deposits with ME.
How to save using a term deposit
Term Deposit Calculator.
Take the guesswork out of calculating the returns on your term deposit with our calculator.
Term deposit calculator
When do I send funds to my term deposit?
Firstly (and you may have guessed this), you need to apply for a term deposit account. Once it’s approved, you can deposit a minimum of $5,000 to the term deposit account, which can be authorised through direct debit.
How do I know when my term deposit is going to mature?
We will send you a notice approximately ten business days prior to the maturity of your term deposit to confirm the maturity date, along with your maturity instructions. You can also provide ME with specific instructions when applying for your term deposit.
If you do not provide maturity instructions at least two business days prior to the maturity of your term deposit, we will reinvest your term deposit on the maturity date:
- For a new term of the same length as the term that has ended.
- At the interest rate applicable on the maturity date for a deposit of that term (and amount) with the same interest payment frequency.
- On the same terms and conditions except to the extent determined by us.
- These details will be confirmed in the confirmation letter we send you once your term deposit matures and is reinvested.
- The interest rate on reinvestment may be higher or lower than your current rate.
Can you break a term deposit?
You can make an early withdrawal request by contacting ME on
13 15 63 and providing 31 days’ notice. Please note that partial withdrawals are not permitted. The interest earned is reduced if you end your term deposit early and an early withdrawal interest adjustment will be made.
How do I calculate term deposit interest?
Interest starts on the day your account is opened and funds are received and is calculated daily, by applying the interest rate to the closing balance of your account on that day as follows:
Daily closing balance x Interest Rate (%) / 365.
What happens at term deposit maturity? (Full withdraw, renewal etc.)
When your term deposit matures you can:
- Reinvest your term deposit for a new term with additional funds debited from your nominated account.
- Reinvest your term deposit for a new term without additional funds.
- Repay all of your term deposit by transferring funds to your nominated account.
- Repay some of your term deposit to your nominated account and reinvest the remainder of your term deposit for a new term.
What is the maximum and minimum I can deposit?
Minimum deposit is $5,000 and there is no maximum. For any queries contact ME on
13 15 63.
How can I adjust my term?
You can change your instructions for all or just part of your term deposit to be automatically reinvested for a new term at maturity. You can also arrange for all or part of your term deposit to be repaid to your nominated account by contacting ME.
How can I choose when my term deposit matures?
You can provide ME with maturity instructions while applying for your term deposit. We may also write to you approximately ten business days prior to the maturity of your term deposit to confirm your maturity instructions.
What are the benefits of a term deposit?
Investing in a term deposit has three main benefits:
- Guaranteed returns. Unlike any other investment, a term deposit not only guarantees a return on your investment, but also guarantees the amount you’ll make on your initial investment. If you’re interested in investing but want certainty, then term deposits are a great option to consider!
- Locked-in rates. Unlike savings accounts, a term deposit allows you to lock in an interest rate. This means if interest rates decline, your savings account interest rate could also decline but your term deposit rate will remain the same.
- Helps you save. If you find that you struggle to save, or you regularly dip into your savings, a term deposit is a great way to ensure you are saving. Investing in a term deposit will lock in the amount you choose to invest until the end of the term.
The legal stuff.
The legal stuff.
Term Deposit Terms and Conditions
Electronic Access Terms and Conditions
- Interest rates are current as at 8am
15-Jul-2025 and subject to change. 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.
- All terms are in calendar months. We offer terms between one month and 60 months.
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 of $5,000 and greater. For any queries contact ME on 13 15 63.
You will get the interest rate that applies to your term deposit on the day your account is opened.
We will credit interest at the selected interest payment frequency and at the maturity of the term.
Deposits are protected by the Australian Government’s Financial Claims Scheme, up to $250,000 per person per authorised deposit-taking institution.
Award notes.
Money magazine, Money Minder of the Year is awarded to the provider most likely to have an account that delivers value for money across personal savings, online and cash management accounts and term deposits.
Calculator information.
The Term Deposit Calculator calculates the approximate total interest earned in a term deposit based on the investment amount, term duration and interest rate (per annum) selected.
The calculator assumes that a year has 12 months of exactly equal lengths. Given some months are longer than others, actual interest earned will vary depending upon the month.
The actual duration of our terms are in calendar months, and the interest earned depends on the number of days the term deposit is open for.
The interest rates displayed are for amounts from $5,000 up to $2,000,000 and are based on the term duration and interest payment frequency selected. Contact ME for rates on amounts above $2,000,000.