A heads up.
The interest rate for the HomeME savings account has dropped from 5.55% -> 5.25% from 1 November. Base rate 0.55% p.a. + 4.70% p.a. bonus interest rate = 5.25% p.a
ME Bank HomeME Savings Account Interest Rate Dropped 5.55% → 5.25%
c64 on 01/11/2024 - 07:38
Last edited 01/11/2024 - 10:18 by 1 other user
Last edited 01/11/2024 - 10:18 by 1 other user
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And now we must choose if we want extra hoops or passkeys with our best interest rate HISAs.
Shame that ME Bank has decided to not be the market leader anymore.
Ubank still 5.5% for under $100k for now.
Got me excited.
I thought home loan interest rates were 5.25% p.a. (which is what it should be given the economic environment)
Woa that's such a big drop with no lead time notification? Pretty bad move ay, guess will have to stick with them for another month as others like ING to be jump throu their hoops a month before the bonus interest kicks in.
Anyone know if the option to have multiple BOQ accounts of 50k each still qualifies for the bonus interest rate of 5.50%?
Yes up to 9 accounts
They masked that email by stating they're removing the grow balance requirement first lol.
Back to ING for me I guess.
Thanks I missed that - still useful to hold smaller amounts that you might need to spend later in the month then
Except ubank have no growth requirement and is 5.5%.
Basically, when choosing a non growth HISA based on interest rate it's not ME, its u!
Yes but I have more than 100k so it's u and me.
@surfingedge: Have I understood it correctly to mean you can basically just deposit $2k and take it straight back out to still achieve the bonus rate?
Does ING waive the requirements for the first month?
Edit: confirmed it's all good for November and December after signing up
ME Bank Home Saver, also no longer has a growth requirement. Just the $2K in/out deposit hoop that can easily be done instantly with BOQ or any other bank via OSKO.
They definitely buried the lead in the email. Back to UBank it is…
Did MeBank Term Deposits go up as well?