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ME Business Term Deposit

Advertiser disclosure
Best rate (up to 1 year)
0.75% p.a.1 year
Minimum deposit
$5,000.00
Interest paid to another bank?
yes
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Mozo editorial review ME Business Term Deposit - last updated: 2 July 2021

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What's hot
  • Up to 1.40% p.a for a 5 year term
  • Terms ranging from 1 month to 5 years
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 game changer 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 to 1.40% p.a. in interest for 5 years as well as a range of other interest rates for terms between one month and four years, this may be the perfect way to make your online-banking debut!


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Key features

The ME Business Term Deposit offers term options between 1 month and 5 years, with rates ranging from 0.20% p.a. to 1.40% p.a. Interest is paid either monthly, annually or at maturity, depending on your term. 

Like most term deposits, the ME Business Term Deposit 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.

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Who is it 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.

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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 27 July 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

0.20% p.a. ($5,000 to $2,000,000)

0.20% p.a. ($5,000 to $2,000,000)

0.50% p.a. ($5,000 to $2,000,000)

0.50% p.a. ($5,000 to $2,000,000)

0.55% p.a. ($5,000 to $2,000,000)

0.60% p.a. ($5,000 to $2,000,000)

0.55% p.a. ($5,000 to $2,000,000)

0.55% p.a. ($5,000 to $2,000,000)

0.65% p.a. ($5,000 to $2,000,000)

0.65% p.a. ($5,000 to $2,000,000)

0.65% p.a. ($5,000 to $2,000,000)

0.75% p.a. ($5,000 to $2,000,000)

0.75% p.a. ($5,000 to $2,000,000)

0.70% p.a. ($5,000 to $2,000,000)

0.90% p.a. ($5,000 to $2,000,000)

1.20% p.a. ($5,000 to $2,000,000)

1.40% p.a. ($5,000 to $2,000,000)

Other financial bits

$5,000.00

$2,000,000.00

Features

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.

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