If you’re one of the many people whose made a new year’s resolution to better manage your money, MeDirect is here to help. We offer a range of savings products designed to help you build the financial foundations you need to achieve your goals. In this article we take a look at the options on offer so you can easily compare them and decide which one suits your needs best.
MeMax Savings Account
The MeMax Savings Account is designed for those who want flexibility without compromising on earning potential. This account offers an attractive interest rate of 2% per annum, paid monthly. With MeMax, you can deposit up to €2,000 per month, with a maximum account balance of €50,000. This account is perfect for those who prefer instant access to their funds while still earning a competitive interest rate.
MeSavings Account
For customers who prefer a more traditional savings approach, the MeSavings Account is ideal. This account allows you to save with the benefit of cumulative interest with such interest being paid into the account every 6 months, making it a great choice for building your savings over time. The MeSavings Account offers competitive interest rates and flexibility to access your funds with a notice period of either 1, 3, or 6 months. This means you can plan your withdrawals without losing out on interest.
Fixed Term Deposits
If you have a long-term savings goal, our Fixed Term Deposits offer higher interest rates over a set period. You can choose from various terms ranging from 3 months to 5 years, with interest rates up to 3.10% per annum for a 1-year term deposit. Fixed Term Deposits are ideal for those looking to save for significant future expenses, such as buying a home or planning a wedding. The interest is guaranteed for the entire term, providing a secure and predictable way to grow your savings.
Conclusion
At MeDirect, we understand that everyone’s savings needs are different. Whether you need the flexibility of instant access, the structured growth of a fixed term, or the balance of a notice account, we have a savings product that fits your lifestyle. Start saving with us today and watch your money grow.
For more information visit https://www.medirect.com.mt/save/
The MeMax account is available in Euro and rate quoted is gross of tax, paid on a monthly basis and is compounded. Account holders can deposit up to €2,000 per month up to a maximum account balance of €50,000.
Interest rates on the Me Accounts are quoted gross of tax on a per annum basis and are paid twice a year on the last business day of June and December. Interest is calculated on the daily cleared account balance and is compounded. Any interest rate change will come into effect with a prior notice. In order to withdraw money from a Me Savings Account, one must submit a notice of withdrawal ahead of the notice period linked to that account.
Term Deposit Rates are quoted gross of tax on a per annum basis. Interest is paid into a savings account. Accounts can be opened with a minimum of €100 and deposit must be kept in the account for the duration of the term and therefore you will not have access to your money. If a withdrawal is made, the rate will not be achieved.
MeDirect Bank (Malta) plc, is a participant in the Depositor Compensation Scheme established under the laws of Malta. Terms and Conditions apply to all deposit products and are available upon request.
MeDirect Bank (Malta) plc, company registration number C34125, is regulated by the Malta Financial Services Authority and is licensed to undertake the business of banking in terms of the Banking Act (Cap. 371).