Interest rate
0.05% p.a.(for $0 and over)
Maximum rate
1.00% p.a. (for $0 to $250,000)
Govt deposit guarantee
Yes up to $250,000

Mozo editorial review ME Online Savings Account - last updated: 17 September 2021

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What's hot
  • 2021 Mozo Experts Choice Award
  • No account or transaction fees
  • Special 1.00% p.a. interest rate (conditions apply)
What's not
  • No BPAY or Australia Post banking facilities
Mozo snapshot

Want a savings account with one of the highest ongoing rates on the market that's free from the bite of fees? Well, the ME Online Savings Account could be for you!

Not only will you receive a generous 1.00% p.a. interest rate but you'll pay $0 account keeping and transaction fees. It's no wonder the ME Online Savings Account was named as a winner of a 2021 Mozo Experts Choice Award in the best Regular Saver category.

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Key features

The ME Bank Online Savings Account really is a great value product. The standard interest rate is 0.05%, which has no conditions attached, so you can simply deposit your money into the account and set and forget. But why would you do that when there is a competitive 1.00% p.a. interest rate up for grabs? 

All you need to do to nab that rate is open ME's EveryDay Transaction Account and link it to your Online Savings Account. When you open the transaction account you'll receive a Buck debit card and as long as you make four tap and go purchases each month, the 1.00% p.a. interest rate will be applied to your Online Savings Account. 

Other features of the savings account include, fee free transactions online and over the phone. And just like most savings accounts, no ATM access is included in the Online Savings Account. But that's what you have the Everyday Transaction Account for, right? 

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Who is it good for

The ME Bank Online Savings Account is great for anyone looking for a competitive bonus rate on their savings account to grow their money.

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Any catches
Bear in mind, if you're jetsetting overseas and don't make a weekly "tap and go" purchase with the Buck debit card within Australia for that month, you won't receive the competitive 1.00% p.a. interest rate.



Details

Rates and fees information correct as at 28 October 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

Balances from $0: 0.05% p.a.

Balances from $0: 1.00% p.a.
Balances from $250,000: 0.05% p.a.

Ongoing bonus rate if you make at least four tap & go™ payments per month with your Everyday Transaction Account debit card. Purchases must be processed in calendar month to be eligible for bonus interest.

Fees

$0.00

n/a

Unlimited free transactions from internet and app.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

$0.00

n/a

Other financial bits

$0.00

$0.00

Monthly

Features

no

none

no

no

no

no

no

no

yes

no

no

Must link to a transaction account

none

none

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