A clever and well-thought-out plan could help you save and spend during sale season. Impossible? With our competitive savings interest rates and in-app tools, the ‘impossible’ could become a reality.
Don’t just save, transact
Did someone say competitive interest? By saving and transacting with us, you could unlock our awesome bonus rate. Our USaver savings account works hand in hand with our Ultra transaction account. With a linked USaver savings account and an Ultra transaction account, you’re signing up for zero fees, a 2.87% p.a. total interest rate (including a 1.06% p.a. bonus rate)* and some pretty innovative tech (we’ll get to the tech soon).
To maximise your savings and lockdown a 2.87% p.a. total interest rate for your linked USaver savings account, you’ll need to deposit a minimum of $200/month from a non-UBank account. And with the power of compound interest, that bonus rate could boost your savings, helping you hit your long-term savings goals, while you’re out bagging a bargain.
With our Ultra VISA debit card, you also won’t have to worry about moving money from your USaver savings account into another non UBank account when you’re hitting the sales. Instead, you get easy in-store and online access to your funds and that 50% off espresso machine could be yours in less time than it takes to make a latte.
Enjoying a sale season overseas? We’ve got you. When you access your Ultra transaction account overseas, we don’t charge ATM withdrawal and foreign exchange fees. You can be confident knowing your savings aren’t going towards pesky fees, leaving more money for making holiday memories.
Sweep the sales like a pro
Remember that ‘innovative tech’ we mentioned? We use Sweep technology to make sure more of your money is earning you interest. Better yet, you don’t have to lift a finger to make it happen.
Sweep works by:
- Automatically transferring funds between your savings and transaction accounts
- Ensuring you have cash on hand each day (an amount set by you)
- And sweeping (transferring) any spare cash into your USaver to earn maximum interest
While Sweeps does the financial heavy lifting, you can do some heavy lifting at the sales.
Your judgement-free financial BFF
When it comes to the summer sales, everyone needs a shopping buddy. Ours is Free2Spend. This handy in-app tool has been designed to motivate you to reach your savings goal while allowing you to spend guilt-free.
By popping in your income, regular expenses, bills and your ultimate savings goal, Free2Spend will do the math (so you don’t have to) and give you one daily number to manage your finances. That number is yours to spend on whatever you like throughout the day. And just like your BFF, Free2Spend won’t judge if you get a touch carried away at the sales. Instead, it’ll simply adjust your daily number overnight so you can still work towards future savings goals.
Start your year off on the right financial foot. With Ultra, Sweeps and Free2Spend all here to help you take control of your finances, you can save for that tropical getaway in 6 months, and shop for the holiday wardrobe now.
* Interest earned on nominated Savings account only. Rate includes 1.06% p.a. bonus rate (conditions apply). To get the bonus rate, you must deposit at least $200 a month into your USaver Ultra transaction or USaver savings account from a non-UBank account (for example, your salary). Also, the total balance of all your accounts must not exceed $200,000.