Get more interest on your USaver savings account when you link it to an Ultra transaction account and meet our bonus eligibility criteria.
Variable interest rate
Please note:
To open an Ultra transaction account you first need an active USaver account and have verified your identity.
Step 1 - Open a USaver
Complete our easy online application on your computer.
Open a USaver in less than 5 mins.
Step 2 - Link an Ultra
iOS Users
You can now easily link an Ultra by downloading the UBank app, logging in and selecting ‘Open Ultra Transaction Account’
Open and link an Ultra via iOS App.
Android and Desktop Users
Open Ultra in Android coming in January!
Why UBank?
More than 500,000 Australian customers
More than 10,000 customers joining every month
Your money is safe
Government Guaranteed deposits up to $250K*
Trusted with more than $16 Billion in deposits
*The Commonwealth Government guarantee applies on deposit balances up to $250,000 per person per authorised-deposit taking institution.
We’re an Australian Bank with more than 200 local support staff
See how our rates stack up against our competitors
| Institution | Product | Maximum Interest rate p.a. | Standard Variable rate p.a. |
| UBank | USaver | 1.04% | 1.04% |
| UBank | USaver with Ultra | 2.10% | 1.04% |
| UBank | USaver Reach * | 1.55% | 1.55% |
| ANZ | Online Saver | 1.55% | 0.05% |
| Bankwest | Smart eSaver | 1.16% | 0.01% |
| Bankwest | TeleNet Saver | 2.25% | 0.25% |
| BOQ | WebSavings Account | 0.01% | 0.01% |
| Citi | Online Saver | 2.30% | 0.85% |
| Commonwealth Bank | NetBank Saver | 1.65% | 0.10% |
| ING | Savings Maximiser | 1.95% | 0.25% |
| NAB | iSaver | 1.55% | 0.11% |
| Suncorp Bank | Everyday Options Sub-account | 0.55% | 0.55% |
| Westpac | eSaver | 1.66% | 0.10% |
Information accurate as at 28 January 2020. Source: CANSTAR
Note: Some rates displayed may include promotional/bonus rates. Competitor rates shown are as notified to CANSTAR during the previous business day.
Rates shown above are the nominal interest rates for amounts of $1,000. Interest is generally calculated daily and payable monthly, however, this may vary from institution to institution.
The USaver with Ultra maximum interest rate includes the Ultra Bonus rate. To be eligible to receive the bonus rate you must first hold an USaver account & Ultra account, have deposited at least $200 to your USaver or Ultra account from an external source in the previous month and maintain a total balance of not more than $200,000 across all of your USavers / Ultra (inclusive of all joint accounts).
* To open a USaver Reach you must be between 18 and 29 years old. Interest is only earned on amounts up to $5,000. Any amount in excess of $5,000 does not earn interest.
The maximum interest rate of other financial institutions may include introductory rates that apply for a certain period of time and bonus rates (such as loyalty or savings bonuses) that apply after satisfying certain criteria. For terms and conditions of introductory and bonus rates, refer to each provider's websites.
Financial data provided by Canstar Research Pty. Ltd. AFSL and Australian Credit Licence 437917. See Canstar's FSG & Credit Guide
UHomeLoan info: Govt charges may apply. The comparison rate is based on a secured loan of $150,000 over the term of 25 years. WARNING: This comparison rate is true only for the examples given & may not include all fees & charges. Different terms, fees or other loan amounts might result in a different comparison rate. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
