HomeME Savings Account: 5.65% p.a. Interest on up to $100,000 ($2,000 Monthly Deposit & Grow Balance Required) @ ME Go App

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Lthebigsleep on 27/06/2023 - 20:22 mebank.com.au (2941 clicks)
Last edited 27/06/2023 - 20:59 by 1 other user

Earn up to 5.65% p.a. bonus interest on a HomeME Savings Account @ ME Go (exclusive from existing ME Bank app/Internet Banking).

Base-rate: 0.55%
Base + Bonus-rate on balances >$100,000: 3.00%
No bonus-rate on balances >$1,000,000

Criteria
A HomeME home deposit savings account comes bundled with a SpendME Transaction Account, which helps you earn bonus interest on your savings by:

• Depositing at least $2000 into your SpendME Transaction Account every month and;
• Growing your saved balance in your HomeME account (excluding interest) by making regular contributions.

Exclusive to the ME Go app and especially designed to help you save for a home deposit.

Things you should know
The HomeME account is only available on the ME Go app and can't be accessed via Internet Banking.

If you're already a ME account holder with accounts you access via Internet Banking, please note these accounts aren't accessible from the ME Go app.

To open a HomeME account, you’ll need to be:

• over 14 years of age.
• an Australian resident with an Australian residential address.

How ME Go calculates bonus criteria eligibility
Month 1 (e.g. January).
During the month, you deposit at least $2000 into your SpendME transaction account and grow the balance in your HomeME savings account (excluding interest). By doing this you’ve unlocked the bonus interest rate for next month.

Month 2 (e.g. February).
ME calculates interest daily based on the closing balance in your HomeME account each day.

Month 3 (e.g. 1st March).
ME pays your bonus interest into each HomeME savings account on the first day of the month.

Related Stores

ME Bank

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    timhn on 23/10/2023 - 17:43

    Oh, when did they drop the rate?

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      parisian on 23/10/2023 - 21:33

      Looks like from today ?
      Haven't seen any coms on this.

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        silverstone2023 on 24/10/2023 - 08:48

        +2

        Website showing 5.55% this morning.

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    pandadude on 25/10/2023 - 09:45

    Email sent out yesterday.

    "We are making changes to your HomeME Savings Account.

    ME regularly reviews the rates on our savings products. To do this, we look at the needs of our customers and changing market conditions. After careful consideration, we have decided to change the interest rate.

    Effective 24 October 2023, the highest variable interest rate you can earn on your HomeME Account will be decreased from 5.65% p.a. to 5.55% p.a. for balances up to $100k."

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  silverstone2023 on 23/10/2023 - 14:19

  Same for me. Based on a spreadsheet that I use to calculate interest earned, I think the change has only been made today.

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  Ave Maria on 23/10/2023 - 16:15

  +2

  BOQ & MEB seem to be following St George in making savings interest rate changes without bothering to give their customers any advance (or even same day) notice. EIther that or their systems are having another hickup (reference to app showing a reduced interest rate). It looks like the outcome of recent financial institution reviews did not teach banks to behave any better.

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  FujiFruit on 24/10/2023 - 09:31

  My bonus rates shows 0% and base rate shows 0.55%.

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    parisian on 24/10/2023 - 10:03

    have you completed the requirements to get the 5% bonus?

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      FujiFruit on 24/10/2023 - 10:13

      Yeah I have

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        parisian on 24/10/2023 - 11:21

        I'd get them to have a look at it.

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          FujiFruit on 24/10/2023 - 11:25

          @parisian: I did speak to them not long ago , they said I didn’t meet the criteria for end of month balance , however I said I always grew it based on them telling me what the end of month balance is and then I grow it. So they saw my chat messages with them and agreed I was told to grow the wrong amount and they said they will fix it and put in request to put it through as it was their fault giving me wrong information and they have made a note of it on my account . So they said within a few days from the first of next month they will manually put the interest in.

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            Yola on 25/10/2023 - 13:18

            @FujiFruit: Did they tell you how much you have to grow it by?

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              FujiFruit on 25/10/2023 - 13:56

              @Yola: Yeah they did they wrote the amount on the message and I did it according to what they said .

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                Yola on 26/10/2023 - 12:34

                @FujiFruit: How much? Was it 1c or more?

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        silverstone2023 on 24/10/2023 - 11:23

        You met the requirements in September?

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