ME Business Term Deposit

1.70% p.a.8 months

yes

ME Business Term Deposit

1.70% p.a.8 months

yes

Mozo Review   ME Business Term Deposit Review

Last updated: 15 November 2019.

What's hot:
  • 1.70% p.a for 8 month term

  • Terms ranging from 1 month to 5 years

  • 2019 Mozo Experts Choice Awards winner in the Small Business Term Deposit category

What's not:
  • Minimum opening deposit of $5,000

Mozo snapshot:

Thinking about taking your business in the digital banking direction? Well, with digital-banking gamechanger ME Bank always keeping us on our toes with the hottest new offers, there’s no better time to get online. And with the ME Business Term Deposit offering up 1.70% p.a. in interest across most terms between 3 months and 5 years, there’s no better way to make your online-banking debut!

Key features:

The ME Business Term Deposit sets the bar high, starting with a 1.25% p.a. fixed rate for a 1 month term, right up to a 1.70% p.a. for a 8 month term and 1.60% p.a. for most other terms, paying interest either monthly, annually or at maturity, depending on your term. Not to mention a wide variety of term options ranging from 1-month to 5-year terms.

The ME Business Term Deposit, like most term deposits, doesn’t allow you to make additional deposits until it reaches maturity. On that note, if you wish to continue with your account after it matures, you’ll have the option to roll over your account to a new term automatically.

On the other hand, should you choose to withdraw your funds before your account reaches maturity, you’ll need to give ME Bank at least 31 days prior notice and will receive an early withdrawal interest adjustment as a result.

If you do choose to go with the ME Business Term Deposit, you can take pride in knowing that you're banking with a multiple Mozo Experts Choice Award-winning banking provider.

Who it's good for:

The ME Business Term Deposit is an excellent option if you’re a business owner looking for an online banking solution to help maximise your business’ savings.

Any catches?

What distinguishes a term deposit from other savings accounts is that you can’t access your funds until the term is up. So if you’d prefer to be able to dip into your funds as you need, then the ME Business Term Deposit account might not be the best account for you.

Details

Rates and fees information correct as at 20 November 2019. 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
  • 1.20% p.a. ($5,000 to $2,000,000)

  • 1.20% p.a. ($5,000 to $2,000,000)

  • 1.55% p.a. ($5,000 to $2,000,000)

  • 1.60% p.a. ($5,000 to $2,000,000)

  • 1.60% p.a. ($5,000 to $2,000,000)

  • 1.60% p.a. ($5,000 to $2,000,000)

  • 1.60% p.a. ($5,000 to $2,000,000)

  • 1.70% p.a. ($5,000 to $2,000,000)

  • 1.60% p.a. ($5,000 to $2,000,000)

  • 1.60% p.a. ($5,000 to $2,000,000)

  • 1.60% p.a. ($5,000 to $2,000,000)

  • 1.60% p.a. ($5,000 to $2,000,000)

  • 1.60% p.a. ($5,000 to $2,000,000)

  • 1.50% p.a. ($5,000 to $2,000,000)

  • 1.50% p.a. ($5,000 to $2,000,000)

  • 1.50% p.a. ($5,000 to $2,000,000)

  • 1.50% p.a. ($5,000 to $2,000,000)

Other financial bits
  • $5,000.00

  • $2,000,000.00

Features
  • direct credit

  • yes

  • yes

  • 31 days notice required if customers want to withdraw their funds before the maturity date.

  • none

*Different interest rates apply to different amounts or different interest payment frequencies.

Customer Reviews

This product is not currently reviewed.

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