With Direct Access, eligible members can now take advantage of highly competitive retail term deposit rates – giving you the protection you want at a fixed rate of return. Direct Access offers a range of deposit providers and terms, which you can pick and choose from according to your own preferences. You are able to invest in as many as you wish, however a minimum and maximum investment applies to each term deposit. See the Direct Access Product Guide for more information.
Choose your preferred term and rate
Term Deposit rates effective from 16 - 22 April, 2021.
|Term||ME Bank (p.a)||NAB (p.a.)|
Choose your Term Deposit provider
The term deposits currently available through your Direct Access account are provided by two APRA regulated providers: ME Bank and NAB. A brief overview of these providers (supplied directly by each) is included below. For more information about these providers, please visit their respective websites. To obtain the relevant disclosure materials, please visit the ME Bank or NAB websites provided below.
ME Bank is a 100% Australian-owned, APRA regulated Bank, which was built to provide a genuine banking alternative - a fairer way to bank. ME Bank offers a range of competitive personal banking products including home loans, savings and transaction accounts and personal loans, as well as a range of business banking products. ME Bank has banking managers across the country who visit customers at times and locations convenient to them. To find out more call 13 15 63 or visit mebank.com.au
National Australia Bank is a financial services organisation with over 50,000 people, operating more than 1,800 stores and business banking centres, and is responsible to more than 550,000 shareholders. While its core franchise is Australian-based, NAB also has interests in New Zealand, Asia, the United Kingdom and the United States. Find out more at www.nab.com.au
Cash Transaction Account
Any earnings from term deposits or listed securities are usually credited to your Cash Transaction Account (CTA). The CTA is designed to hold your money for short periods of time, until you either invest in Direct Access, or transfer funds back into one of our diversified or single asset class investment options.
Funds held within your CTA are deposited with ANZ and attract interest at a rate of 0.80% above the ANZ official cash rate. Effective 4 November 2020 that rate is 0.90% p.a.
Find out more
For more information about Direct Access or your term deposit and other investment options, read the Direct Access Product Guide or call 1300 033 166 between 8.30am and 5.30pm (Melbourne time) Monday to Friday.