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ME Bank Term Deposit Rates

Now effectively closed to new personal term deposits; existing customers can reinvest short terms only. Rates last checked 2026-07-01.

Rates shown may include promotional offers and can change without notice — confirm the current rate on the provider's site before acting. How we source rates

Term Interest Rate (p.a.) Min. Deposit
6 months 4.90% — Rate reported as at 1 July 2026 for existing-customer reinvestment only $0

Source: ME Bank term deposits

Notes on ME Bank's rates

ME Bank stopped offering new term deposits to new customers via its app and internet banking from 1 December 2025. Existing customers can currently only reinvest for terms of 1-6 months. If you are shopping for a new term deposit, ME Bank is not an open option — consider Bank of Melbourne, part of the same group, instead.

Interest Payment Options

ME Bank's interest payment options: Varies. Interest paid at maturity typically offers the headline rate; opting for monthly or quarterly payments can reduce the effective rate slightly, since you're accessing your returns sooner.

How ME Bank Compares

Term deposit rates move independently between banks, so it's worth checking a few options before committing. See how ME Bank stacks up against other providers:

Or use our full comparison table to see every bank side by side, or the term deposit calculator to estimate your returns.