ME Bank Revolutionises its Term Deposits

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ME Bank today is expanding its preferential Super Member product range to include Super Members Term Deposits (SMTD).

SMTD term deposits come with a bonus interest rate of up to 0.25% p.a. for 5 million members of ME Bank’s participating super funds and unions. For example, the three-month term offers 5.75% p.a. for members of participating super funds and unions and 5.50% p.a. for the general public.

ME Bank's participating super fund and union members already earn a discount on their home loan with Super Member Home Loans.

The launch of this preferential deposit product for super fund and union members coincides with the launch of our national brand advertising campaign, which reaffirms the bank’s alliance with the industry superannuation movement.

In another first for the bank, ME Bank is offering all of its customers the opportunity to choose their own flexible term for their deposit.

National Marketing Manager, Bevan Morris, said customers can choose a Term Deposit maturity date to coincide with the achievement of their savings’ goal such as a wedding day, an overseas holiday payment, or a home purchase settlement.

ME Bank is extending its Super Members product range from its current Super Members Home Loans, which has up to a 0.45% p.a. discount for participating super fund members and unions, to other products in the range.

"ME Bank is simply offering additional benefits to members of our participating funds and unions," Bevan said.

"Customers will be offered variable maturity lengths on term deposits from 1 month to 24 months for both Retail and Business term deposits," he said.

"The minimum deposit will be $1,000 rather than $5,000 as per the current product.

"Existing ME Bank customers will also be able to apply for a new term deposit and make modifications to their current term deposits and nominated accounts over the phone (based on certain criteria being met), as well as continue to apply for term deposits online."

"This is a fantastic extension to our product range and will reinforce to our super fund and union members that ME Bank is their bank," Bevan said.

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Claire Jones
ME Bank
0419 575 541
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