Members Equity Savings Account
The members Equity savings account contains some fantastic features and gives you a different option from the larger banks.
| Maximum Variable Rate | 5.60% |
|---|---|
| Standard Variable Rate | 5.60% |
| Bonus Variable Rate | 0% |
| Monthly Fee | $0 |
| Minimum Deposit | $0 |
- An ongoing high interest rate of 5.60% calculated daily
- No bank fees
- No minimum opening balance
- No minimum ongoing balance
- No set term
- 24 hour, seven day a week phone and internet access and support
On the contrary – the Members Equity Online Savings Account is real, and it can make your dreams a reality too. Not only are the features and benefits of the Members Equity Savings Account going to make you smile, but so too is the service; in a CoreData brand management survey in 2009, Members Equity beat all of the Big Four Banks in customer satisfaction.
Benefits of a Members Equity Online Savings Account
High interest savings accounts are the perfect way to help you meet your savings goals, no matter how big or small. A Members Equity Savings Account can be completely tailored to your lifestyle, your savings habits and your financial dreams with these additional benefits:
- You can set up more than one Online Savings Account with Members Equity so you can direct funds individually towards your financial goals.
- You can link your Members Equity Savings Account to any personal account in your name, from any Australian financial institution.
- Anyone over 12 years old can open and save using a Members Equity Online Savings Account.
- You can apply entirely online, or you can print and post an application form if you prefer.
- If you’re an existing ME customer you can enter your customer number and have your personal details entered into the online form, streamlining the application further.
- You can nominate your initial deposit in your application and have it automatically transferred to your new high interest savings account at Members Equity.
- You can set up a direct debit from your nominated account to your high interest savings account, choosing the amount, the frequency, the start date and the end date.
Secure and Awarded Savings with Members Equity
As part of the Australian Government’s Deposit Guarantee, all deposits and savings with Members Equity up to $1 million are guaranteed until October 2011 for free. For balances over $1 million you can secure a guarantee on your funds for a fee.
The customer satisfaction rating of Members Equity was measured by CoreData in July 2009, and outstripped all of the Big Four Banks. A Net Promoter Score (NPS) was calculated by taking the percentage of ‘promoters’ – those who would recommend the service – and subtracting the percentage of ‘detractors’ – those who would not recommend the service – and comparing the scores. Members Equity achieved an NPS of 20.0, where Westpac and Commonwealth Bank scored -38.1, ANZ scored -60.0 and NAB scored -74.5.
Recognition was also awarded to Members Equity in 2009 when the bank was the winner of the Overall Savings Account Category in the Financial Review’s Smart Investor Blue Ribbon Awards. Money Magazine recognised Members Equity as the winner in the Best Online Savings Account category and as a Top 3 Finalist for the Best of the Best Award, in 2009.
Choosing a Members Equity Online Savings Account
You know you’ll be getting a great interest rate and great benefits with a Members Equity Savings Account; and you know your savings will be secure in an award winning bank, under the Government’s deposit guarantee. So how do you know if the Members Equity Online Savings Account is right for your financial needs?
Whether you have $5 a week or $2,000 a month to invest in your financial future a flexible and easy to use online high interest savings account can be a viable option. For large or small investments you don’t have to automatically lock away your savings in a term deposit or a portfolio of shares to see great returns; not when you can feel assured of a 5.60% interest rate each month, while still having access to that money in case of an emergency or changing circumstances.
It’s also important to remember, even if you think you can’t start a savings plan, you can still take advantage of a high interest savings account. Firstly, you can transfer your wages into your high interest savings account each week, spending on your credit card, or living on one wage while your money earns interest with Members Equity – at the end of the month you draw out what you need to pay off your credit card, and the rest you re-invest (i.e. leave) in your online savings.
Secondly, you can have more than one Members Equity Savings Account so you can use one to transfer in wages, and one where you can transfer a direct debit from your wages as they come in – if you pay yourself first and put just a little into your savings each week, you’ll hardly notice the money going, but you’re sure to notice the interest returning.
Thirdly, because you can open more than one online savings account, you can easily use the account to manage your finances. While you may not be specifically saving money, allocating part of your funds to an account labelled ‘Bills’ another called ‘School fees’ and another call ‘Car expenses’ means your money is in order AND it’s earning interest as you stay organised.
If you’re convinced that the Members Equity Online Savings Account really is the account of your dreams, then apply now, and you can make your dreams a reality, in less than 10 minutes.
Related posts:
- Members Equity Online Savings Account
- Members Equity Business Investment Account
- ME Bank Super Members Term Deposit Account
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