Important disclosure
HomeME
Maximum rate
5.65%*
p.a
Base rate
0.55%
p.a
5.65%*
p.a
0.55%
p.a
Promoted savings accounts
Promoted
Reward Saver
*To earn bonus interest the account holder must make a minimum $50 deposit and no withdrawals per month. If bonus interest criteria are not met for the calendar month, both the Standard Variable Bonus Interest and Introductory Fixed Bonus Interest Rate are forfeited.
5.25%
p.a
Not Applicable
Promoted
Bonus Saver Account
*Bonus interest is paid on balances up to $250k when a customer has made an eligible deposit of $20 into the Bonus Saver account in the calendar month and made 5 eligible Visa card purchases on the linked Everyday or Glide account in the calendar month
5.00%*
p.a
0.05%
p.a
Promoted
Westpac Life - 18 to 29 years old
*Make 5+ eligible debit card purchases on your Westpac Choice account and make at least 1 deposit into your Westpac Life Account so that your balance is higher than at the beginning of the month in your Westpac Life Account
5.20%*
p.a
2.00%
p.a
Pros and cons
For HomeME
Benefits
- Maximum interest rate ranked in the best 20% (conditions may apply)
- Ongoing bonus interest (conditions apply)
- No ongoing account fees
- No minimum balance
Drawbacks
- This is a digital only product; branch and phone banking not available
- Only available with linked transaction account
ME Bank Rate Savings account overview
For HomeME
Account Details
Maximum rate 5.65%* p.a | Minimum age restrictions 14 |
Base rate 0.55% p.a | Maximum age restrictions |
Maximum rate condition *Deposit a minimum of $2,000 into your SpendME account from an external account and have a HomeME account closing balance on last day of month higher than the closing balance of on the last day of the previous month. Read More | Minimum opening deposit $0 |
Interest calculation method Tiered | Target Market Determination Visit ME Bank to view Target Market Determination. |
Features
Joint application available | Is online only |
Linked account required |
Methods of Access
Internet facility N/A | ATM access |
Phone facility N/A | Eftpos facility |
Branch access N/A | App |
App only |
Fees
Account keeping fees $0 | Eftpos fee N/A |
ATM withdrawal fee N/A | Overseas eftpos fee N/A |
Internet transaction fee N/A | Over the counter deposit fee N/A |
Phone transaction fee N/A | Over the counter withdrawal fee N/A |
Other Restrictions
Must be an Australian resident with an Australian residential address. ATM and Eftpos capabilities available through the setup of a SpendMe transaction account.
