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  • High Interest Savings Accounts

    Be rewarded with more interest on your USave savings account when you link it to a USpend transaction account and meet our bonus eligibility criteria.

    Earn up to

    USave + USpend

    1.05% p.a.

    Variable interest rate

    Compare accounts
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Your savings are safe with UBank

Government guaranteed

Government guaranteed
deposits up to $250k*

Over 600,000 customers

Over 600,000
customers

Australian bank with local onshore support

We're an Australian
bank with local
onshore support

*The Commonwealth Government guarantee applies on deposit balances up to $250,000 per person per authorised-deposit taking institution. Learn more

Compare our savings accounts

See ‘Things you should know’ below^

*How to get 1.05% p.a. variable rate on your USave savings account

Please note:

  • The deposit of $200 per month to your USpend transaction account or its linked USave savings account must be from a non-UBank account (for example your salary).
  • When eligible, the bonus variable interest of 1.00% p.a. will be applied to balances held in your USave savings accounts (and not your USpend transaction account). 
  • If you meet the bonus interest criteria in the current calendar month, you’ll earn bonus variable interest on eligible amounts in your USave accounts for that month. The interest will be paid in two credits into your accounts: 
    1. The first is interest calculated using the base variable rate 
    2. The second is interest calculated using the bonus variable rate
  • You’ll have to keep meeting the criteria each month to remain eligible for bonus variable interest in that month.

How to open an account

It's never been easier to open a UBank account. Download the App today and apply in minutes from your phone.

If you're looking for a joint account, apply here.

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See how your money can grow

Rates

See how our rates stack up.

  • InstitutionProductMaximum Interest rate p.a.Standard Variable rate p.a.
    UBankUSave + USpend1.05%0.05%
    UBankUSave0.05%0.05%




    The USave with USpend maximum variable interest rate includes the USave Savings Bonus variable interest rate. For eligible customers, bonus interest is paid on eligible balances in the USave account only. To be eligible to receive the USave bonus interest rate in a calendar month, you must hold a USave account & USpend account and have deposited at least $200 to your USave or USpend account from an external source that month. The bonus variable interest rate will be applied to a combined balance of up to $250,000 held in your USave savings accounts, including joint accounts. Any remaining balance greater than $250,000 will earn the USave base variable rate. You’ll have to keep meeting the criteria each month to remain eligible for bonus variable interest in that month.

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© UBank is a division of National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686. Terms of use available here. Are you experiencing financial difficulty? See how we can help.

       

    


^Things you should know

Any advice on this webpage has been prepared without taking into account your objectives, financial situation or needs. Before acting on any advice on this webpage, you should consider whether it is appropriate for your circumstances. We recommend that you read and consider the Terms and Conditions for Transaction Accounts, the Terms and Conditions for Savings Accounts and our Financial Services Guide before making any decision. Target Market Determinations for these products are available at ubank.com.au/tmd. Our transaction and savings products are issued by UBank.


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