First Home Saver Account
- Earn a high 5.00% p.a.* on every dollar
- No account keeping fees
- Boost your savings with an extra 17.00% p.a. contribution from the Government (based on your contributions of up to $5,500 each financial year)
- Contributions will be tax free
- Investment earnings (or interest) will be taxed at 15%
The ME Bank First Home Saver Account provides a simple way for Australians to save for their home with the help of Government contributions and low taxes.
Your savings will earn a high rate of interest from ME Bank in addition to the 17.00% p.a. Government contribution on your first $5,500 saved in each financial year. This means the Government could pay up to $935 into your account each year, putting you in the best possible position to become a first home buyer.
Generally, to access your savings, you will need to make a minimum contribution of $1,000 each year for at least four financial years (these do not need to be made in consecutive years). Withdrawing your savings is tax-free, when used to buy or build your first home to live in.
For more information about how the ME Bank First Home Saver Account can help you become a first home buyer faster, click here or call
* Interest rate is current as at 06-Feb-2012 and is subject to change. Subject to government eligibility and withdrawal criteria.
This information does not take into account your situation and you should consider if this product is appropriate for you. Before you make any decisions about our First Home Saver Account you should review the Product Disclosure Statement and Terms and Conditions.
For information about First Home Saver Accounts generally you may wish to visit the ATO website or the ASIC website.
Related Links
- Savings Account FAQ
- Online Savings Account
- First Home Saver Account
Savings Accounts Tools
Other Tools
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