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Have peace of mind knowing ME's award winning term deposits work harder for your nest egg.
Term deposits.
Have peace of mind knowing ME's award winning term deposits work harder for your nest egg.
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7 months
Rate Display Widget (C#)
5.10%p.a.1
12 months
Rate Display Widget (C#)
5.15%p.a.1
for interest paid at maturity.
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Term Deposit features.
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With our term deposits, get fixed returns: lock in rock-solid term deposit interest rates, and pay no account-keeping fees at all.
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Investments must be between $5,000-$2,000,000
5000
2000000
50000
6
at maturity
0.750.802.254.651.253.105.101.755.102.002.000.750.752.204.601.203.055.051.705.051.951.955.104.404.253.453.453.452.254.601.203.055.051.705.051.951.955.104.404.253.453.453.453.105.051.705.051.951.955.104.404.253.453.453.455.154.454.303.503.503.500.750.802.254.551.052.904.851.554.801.801.800.750.752.204.501.002.854.801.504.751.751.754.854.204.053.253.253.252.254.501.002.854.801.504.751.751.754.854.204.053.253.253.252.904.801.504.751.751.754.854.204.053.253.253.254.904.254.103.303.303.30
Calculate your estimated return.1
See how your savings can grow with competitive term deposit rates, zero bank fees and our fixed term deposits.
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Interest paid at maturity
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1 month
Rate Display Widget (C#)
0.75% p.a.
2 month
Rate Display Widget (C#)
0.80% p.a.
3 month
Rate Display Widget (C#)
2.25% p.a.
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4 month
Rate Display Widget (C#)
4.65% p.a.
5 month
Rate Display Widget (C#)
1.25% p.a.
6 month
Rate Display Widget (C#)
3.10% p.a.
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7 month
Rate Display Widget (C#)
5.10% p.a.
8 month
Rate Display Widget (C#)
1.75% p.a.
9 month
Rate Display Widget (C#)
5.10% p.a.
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10 month
Rate Display Widget (C#)
2.00% p.a.
11 month
Rate Display Widget (C#)
2.00% p.a.
12 month
Rate Display Widget (C#)
5.15% p.a.
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Interest paid monthly
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2 month
Rate Display Widget (C#)
0.75% p.a.
3 month
Rate Display Widget (C#)
2.20% p.a.
4 month
Rate Display Widget (C#)
4.60% p.a.
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5 month
Rate Display Widget (C#)
1.20% p.a.
6 month
Rate Display Widget (C#)
3.05% p.a.
7 month
Rate Display Widget (C#)
5.05% p.a.
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8 month
Rate Display Widget (C#)
1.70% p.a.
9 month
Rate Display Widget (C#)
5.05% p.a.
10 month
Rate Display Widget (C#)
1.95% p.a.
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11 month
Rate Display Widget (C#)
1.95% p.a.
12-17 month
Rate Display Widget (C#)
5.10% p.a.
18-23 month
Rate Display Widget (C#)
4.40% p.a.
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24-35 month
Rate Display Widget (C#)
4.25% p.a.
36-47 month
Rate Display Widget (C#)
3.45% p.a.
48-59 month
Rate Display Widget (C#)
3.45% p.a.
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60 month
Rate Display Widget (C#)
3.45% p.a.
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Interest paid annually
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12-17 month
Rate Display Widget (C#)
5.15% p.a.
18-23 month
Rate Display Widget (C#)
4.45% p.a.
24-35 month
Rate Display Widget (C#)
4.30% p.a.
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36-47 month
Rate Display Widget (C#)
3.50% p.a.
48-59 month
Rate Display Widget (C#)
3.50% p.a.
60 month
Rate Display Widget (C#)
3.50% p.a.
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Top facts
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Terms
1 month – 60 months
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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.
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Early withdrawals
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Early withdrawal notice
31 days’ notice required
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Early withdrawal interest adjustment
Percentage of term elapsed
Percentage reduction to interest
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Make a deposit in 5 minutes.
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Open now
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.
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Contact ME.
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We're available to help from
Mon-Fri 8am-8pm (AEST/AEDT)
Sat 8am-6pm (AEST/AEDT)
Understanding term deposits.
From putting money into your term deposit to changing your term deposit maturity instructions, get the lowdown on term deposits with ME.
How to save using a term deposit
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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.
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Help & support.
Need more help understanding term deposits? We got you.
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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.
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How do I know when my term deposit is going to mature?
You can provide ME with maturity instructions when applying for your term deposit. We will also write to you approximately ten business days prior to the maturity of your term deposit to confirm your maturity instructions.
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.
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What if I need to break my 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.
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How will my interest be calculated and paid?
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.
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What happens to my term deposit at 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.
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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.
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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.
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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.
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The legal stuff.
The legal stuff.
Term Deposit Terms and Conditions
Electronic Access Terms and Conditions
- Interest rates are current as at 8am
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30-Nov-2023 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.
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