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Smart savings plan with a UBank transaction account

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Hit the sales without losing control of your finances

With the proper tools and a few handy tips, you’ve got the potential to tackle those summer sales without breaking the bank.

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 USave savings account works hand in hand with our USpend transaction account. With a linked USave savings account and a USpend transaction account, you’re signing up for zero fees, a 1.05% p.a. total interest rate (including a 1.00% p.a. bonus rate)* and some pretty innovative tech (we’ll get to the tech soon).

To maximise your savings and lockdown a 1.05% p.a. total interest rate for your linked USave 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 UBank VISA Debit card, you also won’t have to worry about moving money from your USave 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 USpend 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 USave 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 USpend, 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 1.00% p.a. bonus rate (conditions apply). To qualify for the bonus variable interest rate on eligible amounts in your USave account(s) in a calendar month, you must have both a USave and USpend account and deposit $200 or more into your USpend transaction account or your linked USave savings account from non-UBank accounts during the same month. The bonus variable interest rate will be applied to a combined balance of up to $250,000 held in your USave account(s), including joint accounts. Any remaining balance greater than $250,000 will earn the USave base variable rate. Bonus interest is earned the same month you meet the bonus interest criteria. If you qualify for bonus interest, your interest will be paid in 2 credits. The first credit is calculated using the base variable rate, and will be visible in the morning of the 1st of the following month. The second credit is the Bonus Interest, which will be processed overnight on the 1st, so please check your account on the 2nd of the following month.


The information contained in this article is of a general nature only. It doesn’t take account of any person’s objectives, financial situation or needs. Before acting on this information, you should consider whether it is appropriate for your circumstances and seek independent legal, financial, and taxation advice.