• expired

7.50% Interest on Members Equity Online Savings Account

80

This is a continuing rate, non introductory.

It rewards you with a competitive 7.50%p.a. calculated daily on every dollar from the moment you deposit it; and better still, allows you to set up special accounts which are earmarked for specific savings goals. All free of bank fees.

Referral Links

Referral: random (30)

$150 Coles Group & Myer Gift Card for both referree and referrer when loans are settled.

Related Stores

ME Bank
ME Bank

closed Comments

  • Wow, good find! :) Thinking about moving my money into this and closing my RaboPlus account.

    But with a S&P credit rating of only BBB (BBB/Stable/A-2), it's a worry. A BBB credit rating is near "Non Investment Grade". RaboPlus has a S&P credit rating of AAA.

    • Bargain4U

      Your Raboplus account is free. You might want to keep it open, then ship your funds back to it, when Raboplus becomes the highest interest rate again.

      Otherwise I think you have to pay to send them back that little key generator …

  • At the bottom of the web page:

    • "Interest rates are current as at 24-Feb-2008 and are subject to change."

    • "Fees and charges may apply."

    • When interest rates are rising, like at the present time, the "subject to change" should be a positive, not a negative!

    • Sorry about the negative vote, judged a bit too quickly, can't take it back. Mistakenly thought that it meant that they would drop rates whenever they wanted and would likely charge fees.

      • Negative vote revoked.

  • I don't really see why it's worth a negative vote.

    All online saving account Interest Rates are subject to change, that's what happens when interest rates go up/down.

    And regarding the fees:
    http://www.membersequitybank.com.au/rates_and_fees/savings_a…

    Online Savings Account

    Fees & Charges

    Your Online Savings Account is currently bank fee free

    If they ever did put fees on (which I doubt, since other online savers don't charge either) you just change.

  • It's not unusual to say fees might be added later, and it doesn't mean they definitely will.

    Most of the fee free accounts specify that they may add fees at a later point in time (but will give customers a certain period of notice).

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