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ME Bank Online Savings Account 2.90% + 1.70% Bonus Interest Rate

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ME Bank Online Savings Account 2.90% + 1.70% Bonus Interest Rate
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tqf8h on 02/11/2013 - 13:04 mebank.com.au (360 clicks)
Last edited 02/11/2013 - 14:55

ME bank has a interest rate offer of 2.90% base + 1.70% bonus of you open an online savings account and link it to their transaction account (no monthly fee). It is not open to previous account holders.

From their website:

Variable interest rate is current as at 02-Nov-2013 and subject to change.

  • SUPER SAVINGS BONUS RATE. You will receive our variable interest rate plus a fixed bonus interest rate of 1.70% p.a. if you open an Online Savings Account and link it to an ME Bank EveryDay Transaction Account as your nominated account between 1 November 2013 and 31 January 2014. The bonus interest rate offer is not available if you or a joint account holder has previously held an Online Savings Account prior to 1 November 2013, unless you or a joint account holder is an AustralianSuper member.

The bonus interest rate is payable on balances up to $250,000 for five months, so long as the EveryDay Transaction Account remains your nominated account.

Referral Links

Referral: random (32)

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

Financial Bank Account Savings Account

Related Stores

ME Bank
ME Bank

closed Comments

  • c64 on 02/11/2013 - 13:06
    +1

    nice! great rate!

    the $50 bonus for a transaction account still appears to be valid until 9 dec http://www.ozbargain.com.au/node/118976

  • 2pro4sho on 02/11/2013 - 13:08
    +2

    "The bonus interest rate is payable on balances up to $250,000 for five months, so long as the EveryDay Transaction Account remains your nominated account."

    • tqf8h on 02/11/2013 - 14:59
      +1

      Thanks I missed that bit. Changed the description now.

  • The Quote Train on 02/11/2013 - 13:21
    +8

    They don't market it very well… 2.9 + 1.7 doesn't make me think 4.6 immediately.

    Let's face it, the most consistent savings account is with Ubank.

    • c64 on 02/11/2013 - 13:30

      i think that is just being transparent

    • Russ on 02/11/2013 - 14:00
      +2

      I'll give them a tick just for being upfront andn non-deceptive.

      I'd like all the other banks to advertise their interest rates this way, or perhaps as "4.6%=2.9%+1.7% introductory".

  • CyberMurning on 02/11/2013 - 13:48
    -1

    And ubank interest is?

    • andyken on 02/11/2013 - 13:56
      +1

      ubank 4.31% and me bank 4.6% only for the first five month and back again to 2.9%

      • The Quote Train on 02/11/2013 - 14:00
        +6

        It's hardly worth the effort of swapping your money around to do that

    • skatoz on 02/11/2013 - 14:15

      Standard 3.61% and the current bonus rate with Ultra Saver 2k transfers is 1.06% which makes it currently 4.67%pa.

      • GPT4 on 02/11/2013 - 14:50

        Ubank Usaver with Ultra gives 4.67%

      • CyberMurning on 02/11/2013 - 14:57
        +3

        then why this is a deal…. im negging

        • kabigon on 02/11/2013 - 15:09
          +2

          The $500 sweep negates any benefits from a regular ubank with asp unless you have a lot of money tucked away.

        • c64 on 02/11/2013 - 15:27

          and if you have a lot of money tucked away then even .1% for 5 months makes a difference

        • skatoz on 02/11/2013 - 21:06

          I guess it is a good deal for those people who reached the 200k limit with Ubank. Also, I think the current Ubank bonus rate is only temporarily higher to promote the launch of their Ultra Saver accounts. It will be reduced next year. So this will most likely be a slightly better deal in less than two months.

        • yargnairod on 02/12/2013 - 09:28

          Pretty harsh to neg. They both have different criteria to get the bonus.

          Ubank you must have a ultra saver account which requires 500 min in it plus $2000 input into any ubank account to get the bonus the following month. I personally don't find any of these conditions difficult so i prefer the ubank account but this is a viable alternative.

  • spendinghacker on 02/11/2013 - 14:29
    +6

    As usual, loyalty does NOT pay.

    http://spendinghacker.com.au/loyalty-is-dead/

    That's why I keep saying again and again, it is crucial you close the account and cut all ties with that institution once you've extracted the full benefit in preparation for their next promotional offering (which I bet you will again be only open to new customers).

    This is the ONLY way to have a chance to keep 'milking' this cow! ;)

    • CyberMurning on 02/11/2013 - 15:00
      +1

      yes what they think is just to get more new customer and hope the old ones too lazy to move/change.
      when will they realise it is more important to keep old customers and get good words from them.

    • buckerooni on 02/11/2013 - 16:47

      the cow you're 'milking' in this case is the industry super funds: http://mebank.com.au/about-us/about-me-bank/the-story. My missus used to work there.

      • yargnairod on 02/12/2013 - 09:36

        Nothing wrong with milking the super funds. Superannuation is Australia's fourth biggest industry an only because it is required by law. Australians are worried about a green tax and what it will do to their utilities bill. Average Australian utility bill per person per year = 1k. Average fees for super per person per year = 2k. yup we aren't the brightest bunch.

        • buckerooni on 03/12/2013 - 19:46

          Members of an industry superfund would beg to differ! From your justifications it's clear where your moral compass is at.

  • [Deactivated] on 02/11/2013 - 15:41
    +3

    Last offer was good for 12 months, still getting 4.5%.

    • snappy1234 on 02/11/2013 - 17:05

      yep moved my spare readies back from Rams yesterday (Rams 4.31% now)
      my ME rate is good till March 2014

      • cpho on 14/11/2013 - 22:45

        Rams has just gone down. Starting 18th November, they'll be at 4.21%
        This makes this a lot more lucrative

    • muncan on 17/12/2013 - 09:42

      Same. I hope to slip through the cracks when rebooting my ME account (ING style) in January.

  • unifex on 03/11/2013 - 18:12

    But if you go to Commonwealth Bank GoalSaver you get 4% permanently

    • snappy1234 on 03/11/2013 - 21:37
      +3

      sorry not a fan of Commonwealth Bank goalsaver
      *Enjoy a great variable bonus rate of 4.01% p.a. that just keeps on going on balances up to $100,000. Simply increase your balance by at least $200 a month (excluding interest) and make no more than one withdrawal per month. Standard variable interest rate is 0.01% p.a. and is payable if the above conditions are not met or on any portion of the balance over $100,000.

  • Jared17 on 03/11/2013 - 23:38

    Oops I opened the online savings account last month. Will I still be eligible if I close it now and reopen again.

  • Love a bargain on 04/11/2013 - 10:22

    "The bonus interest rate offer is not available if you or a joint account holder has previously held an Online Savings Account prior to 1 November 2013, unless you or a joint account holder is an AustralianSuper member."

    I still have an Online Savings Account from the last campaign (with 4.5% interest) but I'm also a member of AustralianSuper. I'm wondering if it means I can open another Online Savings Account and get an extra 0.1% interest. Has anyone tried this or checked with ME Bank?

    • Love a bargain on 07/11/2013 - 14:11

      ME Bank confirmed that this is the case but anyone taking advantage of the AustralianSuper exemption must open the account via the link on AustralianSuper's website rather than directly from ME Bank's own site.

      I made the mistake of doing it through ME Bank's own website and had to call them up to get it fixed.

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