• long running

HomeME Savings Account 4.85% p.a. Interest on Balance up to $100,000 ($2,000 Monthly Deposit Required) @ ME Go App

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HomeME Savings Account 4.85% p.a. Interest on Balance up to $100,000 ($2,000 Monthly Deposit Required) @ ME Go App
Go to Deal
Moo Deng on 23/07/2025 - 16:27 mebank.com.au (848 clicks)
Last edited 24/07/2025 - 07:18

Earn up to 4.85% p.a. interest with HomeME, exclusive to the ME Go app.

After Ubank trashed their product, I had a look at Australian Unity and Macquarie, but ME Go offers a higher savings rate and one of the highest currently on the market, with minimal hoop jumping.

Key eligibility details:

  • A monthly deposit of $2,000 is required into the SpendME account
  • The interest rate applies only to balances up to $100,000

No need to grow your balance or make a set number of card transactions each month

May not suit everyone with the $2,000 monthly deposit, but I don't have an issue re-directing my salary to this account to obtain the high savings rate.

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

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Comments

  • GeoK on 23/07/2025 - 16:33
    +4

    This is long running! Nothing changed, right?

    • Moo Deng on 23/07/2025 - 16:42
      +7

      Correct, was just posting as others may not be aware that it offers a higher rate than Ubank, Australian Unity, Macquarie, etc.

      Hopefully they don't 'enhance' their product either like the others.

      • GeoK on 23/07/2025 - 16:45
        -3

        Yeah, ING is still the best for now but with some hoops.

        • Moo Deng on 23/07/2025 - 16:45
          +12

          I can't stand ING, they don't even have push notifications for incoming transfers.

          • Uncle Roger on 23/07/2025 - 17:05
            +1

            @Moo Deng: THIS! Crazy really in 2025

          • Brugainz on 23/07/2025 - 17:36
            +1

            @Moo Deng: ING hoops are the trickiest
            Stay vigil.

          • GeoK on 23/07/2025 - 21:52

            @Moo Deng: Yeah, not my favourite either and ME transactions are faster.
            I was just pointing that unfortunately no other than ING has 5% for up to 100k.

            Only downside to ME app is it does not let you know you qualified for next month best rate. It could be confusing to starters

            • md333 on 24/07/2025 - 12:14

              @GeoK: It does show if you currently qualify, but only when it is too late to change it. Still gives you a chance to withdraw funds.

          • bag on 23/07/2025 - 22:40
            +1

            @Moo Deng: I was so annoyed about this too until worked out you can set it to send texts for incoming/outgoing transactions. Not great, not terrible, just an FYI

          • Chizzle on 24/07/2025 - 11:40

            @Moo Deng: ING have the worst customer service, took several weeks just to open an account, abandoned them while I was waiting and went to NAB who had me set up in a day.

      • bbking18 on 23/07/2025 - 17:03
        +1

        It's good that you are posting this as I am not aware. I had this account for a long while and used it in the past but I had to grow account balances so I stopped using it. Apparently their condition is less now so good to know. I have no idea when they changed it.

        • Moo Deng on 23/07/2025 - 17:17
          +6

          Looks like the requirement to grow your balance every month was removed late last year.

          You told ME there were too many hoops to jump through to earn bonus interest on our HomeME savings account – and we’re good listeners.

          From 1 November, we're making it even easier to save for your next big thing by removing the requirement to Grow your balance criteria in order to achieve your bonus interest on your HomeME account.

          Simply deposit $2,000 every month into your SpendME everyday transaction account from an external bank account like your salary, to earn bonus interest. Thats it!

          HomeME remains our highest interest savings account, jam-packed with clever features and budgeting tools to help you speed towards your savings goals sooner.

          • bbking18 on 23/07/2025 - 17:22

            @Moo Deng: Thank. I apparently missed that.

            • md333 on 24/07/2025 - 12:15

              @bbking18: They removed the requirement at the same time they dropped their rates below others, so hasn't been a case to make use of it until now, when others have dropped their rates and added the growth requirement.

  • Bruceflix on 23/07/2025 - 16:46
    -1

    BoQ is a better deal than this i think

    • Moo Deng on 23/07/2025 - 17:18
      +2

      Which one?

      All I can see is this

      You'll earn up to 4.75% p.a. each month when you deposit a minimum of $1,000 into your linked Everyday Account directly from an external bank account and make 5 eligible payments, withdrawals or purchases from your linked Everyday Account.

      https://www.boq.com.au/personal/banking/savings-and-term-dep…

      • Bruceflix on 23/07/2025 - 17:22

        My bad, only if you are <36yo

        • markathome on 23/07/2025 - 20:30
          +2

          36+ years. Finally some good news for the geriatric millennials!

  • kzl on 23/07/2025 - 16:48
    +1

    Can you transfer money straight out of your savings account?

    I know with ubank you have to transfer to the spending account first before transferring out, which is annoying.

    Macquarie lets you transfer straight out of savings, would be good if ME and/or Aus Unity let you do this too.

    • 6079 Smith on 23/07/2025 - 17:01
      +1

      Nah has to go via the trans account… unsure if you can set up DD's like you can with Macq but I assume not

      • kzl on 23/07/2025 - 17:02

        ok thanks

    • archiexyz on 23/07/2025 - 18:27

      you can deposit directly though, unlike some savings accounts

      • igorekh on 23/07/2025 - 19:49

        Are there any banks that do not allow direct deposits to a savings account? 😲

        • huydn on 23/07/2025 - 20:08
          +1

          Yes, bankwest for example.

        • archiexyz on 23/07/2025 - 20:36
          +1

          Even Westpac Life had a different BSB that didn't allow deposits.
          AMP Go Saver doesn't have a standard account number.

          • Ade99 on 24/07/2025 - 07:47

            @archiexyz: AMP Go saver has zero hurdles, just need to do a double shuffle when moving $ around……

          • igorekh on 24/07/2025 - 13:36
            +1

            @ozilicious: Ubank does allow direct deposits to their savings accounts, moreover it's instant using Osko.

      • md333 on 24/07/2025 - 12:17
        +2

        Just have to be careful to also deposit $2,000 into the spendME acct, as direct deposits to HomeME don't count for the $2000 deposit requirement to get bonus interest.

    • jasonc74 on 23/07/2025 - 19:53
      +1

      I have opened an account and am testing to see if I can direct debit. Will report back early next month.

      • jasonc74 on 27/07/2025 - 09:33

        Spoke to Me and confirmed no Direct Debit

    • Smilence03 on 24/07/2025 - 07:35

      Macquarie lets you transfer straight out of savings

      I don't find the same? I always have to go through the transaction account before transferring out? Though I heard you can do direct debit from savings account. Am I missing something?

      • theo96 on 24/07/2025 - 12:51

        I don't think transferring straight out of savings (e.g. for BPay or to a 3rd-party account) is the same as a direct debit arrangement.

    • spaceflight on 24/07/2025 - 08:13

      You can with the BCU savings account, it also has a higher interest rate.

    • Zackeroo on 23/07/2025 - 17:57
      +9

      As much as it pains me to say it, I can help you out here. Just give me that extra money and you'll be able to use this deal

    • Imnuts7 on 23/07/2025 - 20:42
      +2

      Didn't you say 1 mil in that uBank post?

      • topherboi on 24/07/2025 - 06:58

        Yes.

        • Chizzle on 24/07/2025 - 11:52

          I have a minor hunch that easternculture might be making a joke…

  • mimik13 on 23/07/2025 - 16:53
    -1

    Will this work with an offset account?

    • cooni on 23/07/2025 - 17:23

      Why would you?

  • 6079 Smith on 23/07/2025 - 17:01
    +4

    You don't have to keep the $2k in the trans account, you can just transfer in and transfer out

    • timhn on 23/07/2025 - 17:34

      Yes. I have setup schedule to automate this as well. Deposit on 1st of the month, transfer out on 3rd of the month.

      • 6079 Smith on 23/07/2025 - 18:14

        Ditto, I send it to my CBA account so I can get that for free and hence take advantage of Yello offers lol

  • goranoh on 23/07/2025 - 17:48
    +1

    Will this work if the required amount is transferred from different bank?

    • timhn on 23/07/2025 - 18:11
      +1

      Must be from an external bank.

    • wintersnow911 on 23/07/2025 - 18:41

      it is the requirement that the amount comes from external source, so yes.

  • Charlie Dont Surf on 23/07/2025 - 17:52
    -2

    Presumably this rate will reduce to 4.6% when the RBA cuts the cash rate by 25bps (next month?).

    UBank did a pre-emeptive cut. Did Macquarie do the same, or are they in line to cut their deposit rate by 0.25% next month?

    • team teri on 23/07/2025 - 18:05
      +2

      I have no doubt Ubank will do another cut in line with RBA. They just decided to become less competitive, with rates now, and with extra hopps to jump through later…

      • Ade99 on 24/07/2025 - 07:50

        UBank would seem to wish to alienate and shed customers with it's latest "new and improved" offering…

        • md333 on 24/07/2025 - 12:19
          +1

          It's only their existing customers they don't like, they've brought in an intro rate to attract new customers to ditch later.

    • finbar on 23/07/2025 - 18:06

      Yeah with the RBA rate cut next month it'll shuffle things up again

    • Gavman on 23/07/2025 - 18:43
      +1

      Most likely. Hence why I’m holding off until next rba meeting due in couple week. Cbf opening an account and transferring to see % rate cut to 4.5% 2 weeks later

  • David76 on 23/07/2025 - 18:00

    $20000 in this account or put it all in my offset account?

    • CodeXD on 23/07/2025 - 18:02
      +12

      You shouldn't even be looking at saving accounts if you have an offset unless you have full loan amount in there already.

    • Gavman on 23/07/2025 - 18:45
      +4

      Makes no sense paying 5.xx% interest and earning 4.85% on the side.

      • Nousernamehere on 23/07/2025 - 19:26
        +11

        Makes no sense paying 5.xx% interest and earning 4.85% on the side.

        Also don't forget paying tax on that 4.85% as well at your marginal tax rate..

  • yht on 23/07/2025 - 18:17

    Its about $20/months different for $100,000 from 4.6%. Its pity only max $100,000

    • Angelscrap on 24/07/2025 - 00:24

      Yeah I know, its hard for people who have few mils in their account 😄

  • yht on 23/07/2025 - 18:18
    +1

    But wait, it looks like the interest won't be avail until third month

    • GreenLego on 23/07/2025 - 19:05

      Yes, I'm wondering the same thing.

    • mickop on 23/07/2025 - 19:23

      It seems like the requirement is to have deposited $2k in the previous month to be eligible for bonus interest, then you get paid the interest at the end of the 2nd month/start of 3rd month.

      But then it also says "you’ll earn bonus interest for the first month of your account being opened". Not sure what the go is

    • Shark97 on 23/07/2025 - 19:37
      +1

      Signed up to it before, criteria is waived for first two months so you get bonus straight away as they dont expect you to meet criteria 2 months before the accounts even open, but have to meet criteria in first month to make sure you get interest in month 3 though.

  • creesy on 23/07/2025 - 18:22

    Anyone know of an account that you dont have to meet transaction requirements to get a good rate. Have just over $120k doing nothing for me and ETFs scare me.

    • powerhead on 23/07/2025 - 18:24
      +3

      Macquarie - zero hoops

      • creesy on 23/07/2025 - 19:10
        +1

        Thanks ill look into it

    • karma25 on 23/07/2025 - 18:44
      -2

      BankWest iSaver 5.15% for upto $250000

      • Gavman on 23/07/2025 - 18:46
        -2

        Variable introductory rate for the first 4 months. Cuck

        • peter on 23/07/2025 - 19:19
          +1

          The term "cuck" is a derogatory slang term used to describe a man perceived as weak, submissive, or dominated by a female partner. It can also refer to a man whose wife is unfaithful, originating from the term "cuckold". The term has gained popularity in online communities and is often used to attack a man's masculinity. Additionally, it is sometimes employed in extreme political contexts to insult individuals. Overall, "cuck" is considered an offensive term and reflects negative connotations regarding masculinity.

          • krisspy on 23/07/2025 - 20:06
            -2

            @peter: Urban dictionary bot?

            Bad bot

          • chickentaste on 24/07/2025 - 22:51

            @peter: A great many people may be highly offended in seeing this term start to find traction in more general use. Your mileage may vary though.

    • Ade99 on 24/07/2025 - 07:51

      AMP Go saver….🤔

    • stephendt on 24/07/2025 - 09:57

      Why do ETFs scare you? Saving accounts are much more scary to me because it means my money will not grow much and I won't have enough to support myself in the future

      • theo96 on 24/07/2025 - 12:55

        But you also won't lose your principal when Trump crashes the global economy ;)

        • creesy on 24/07/2025 - 14:46

          This is part of the reason. I think the US government is far to volatile in the short term. Especially with all the Epstein stuff.

          I think with ETFs you have to be willing to take a 30-50% loss in the short term if you get really unlucky. Im not in a position currently where i can lock that money away for long term gain unfortunately.

        • krisspy on 24/07/2025 - 15:07
          +1

          VGS tanked about $20 when trump announced his 90 day tariff bans. Went balls deep and bought a few hundred shares. Now it's recovered. Years worth of growth in a few months is pretty good imo.

          Waiting for the next tweet to scare the market

  • Big-Deal on 23/07/2025 - 18:54
    -3

    Ing still has 5% so why all these deals below 5

    • noz on 23/07/2025 - 19:02
      +1

      what are the ING hoops like?

      • wavesgreen on 23/07/2025 - 19:07
        +6

        Spiked and smeared with dog excrement.

      • md333 on 24/07/2025 - 12:25
        +1

        ING have lots of hoops, 5 card transactions, $1000 in from external account, and a growth requirement.
        On the plus side, their app/web page does a good job of showing whether/when you've met the requirements, and they've left a loophole that allows you to decrease the balance without penalty by switching accounts.

    • timhn on 23/07/2025 - 19:11
      -1

      ING: needs growth at least 1c and do 5 transactions to earn bonus rate.

      vs

      MeBank: no need to growth and no need do any transactions to earn bonus rate. Can just leave $100K there and withdraw the interest out every month to spend.

      • GreenLego on 23/07/2025 - 19:14

        MeBank, you do need to deposit $2000 (which is a transaction). You can then immediately withdraw it, but it is still a requirement.

        • timhn on 23/07/2025 - 20:19

          I know. Same with ING , but with only $1000 deposit.

          I was merely pointed out the key points that people likely went with MeBank.

      • Emcaljoe on 24/07/2025 - 11:43

        So what happens when you have $100k in ING? Assume anything over $100k is earning almost nothing but you still need to grow balance to earn higher interest rate?

        • Emcaljoe on 24/07/2025 - 16:52

          Anyone… who's helpful?

          • timhn on 24/07/2025 - 17:45
            +2

            @Emcaljoe: You would need to create a 2nd Saving Maximiser and juggling your earning from those two - each month, nominate which SM account will get interest next month.

            There is a wiki somewhere about this switch that you must do monthly

    • peter on 23/07/2025 - 19:28
      +1

      Up to 5.00% p.a. variable rate with conditions which not everyone can meet. That's why "all these deals below 5".

  • Iggemo on 23/07/2025 - 19:24

    I think Aus Unity is also 4.85% and with zero hoops at all (for up to 50k) so that's the best deal for ppl like me with less than 50k.

    • abc on 23/07/2025 - 21:12

      Getting cut to 4.6% soon.

      • Iggemo on 23/07/2025 - 21:20
        +1

        Ahh i see. When i looked at the spreadsheet a few days ago that newest update wasnt there, that does change things a bit. Still, no hoops at all vs deposit $2K is perhaps worth the .25% for some.

    • bloomer on 24/07/2025 - 08:12

      And their customer service is pretty incompetent in my experience. Even closing an account is more painful than with most banks.

  • Alley Cat on 23/07/2025 - 20:18

    Is there a spreadsheet somewhere on all the bank offers? I remember looking at it when I was young…

    • Moo Deng on 23/07/2025 - 20:24
      +3

      https://goo.gl/FufTQP

      • Alley Cat on 23/07/2025 - 20:29

        Thank you 🥰

    • McFly on 23/07/2025 - 20:30

      Considering that spreadsheet is about to hit 9yo, you still are young.

      • Alley Cat on 23/07/2025 - 20:35

        One ozb year is at least a decade in human years. Depending on what’s being posted, it can really age me (and probably a lot of others) 😂

  • denserham on 23/07/2025 - 21:21

    Just want to note that it needs to be deposited the prior month. unlike banks like ubank.

  • scalebearer on 24/07/2025 - 02:21
    +4

    Should be noted that the $2k deposit must be made into the transaction account.
    Depositing directly into the savings account will not qualify for bonus interest.

    I believe most banks under the BoQ umbrella do this.

    It's especially important considering that some ubank customers may move to this from late September/early October.
    ubank don't care which account you deposit into, as long as the total monthly incoming adds up to $500.

    This should be noted and in bold to save as many people as possible finding out the hard way.

    • Smilence03 on 24/07/2025 - 07:44

      Like you said, there're some hidden hoops with this deal anyways. Macquarie is the only bank that truly has 0 hoops at all. Sad.

    • Ade99 on 24/07/2025 - 07:54

      AMP GoSaver is also a low hurdle option if you need to spread $$$$ across several institutions to ensure Federal protection.

    • spaceflight on 27/07/2025 - 12:21

      This should be noted and in bold to save as many people as possible finding out the hard way.

      Everybody should read the PDS and details of the account they are opening on the bank's website, not a form

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