Skip to Content
  • 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

    1.10% p.a.

    Variable interest rate

Compare our savings accounts

*How to get 1.10% 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 rate criteria this month, you’ll earn bonus variable interest on your USave savings accounts from the 1st of the following calendar month.
  • You’ll have to keep meeting the criteria each month to remain eligible for bonus variable interest the following calendar month.

How to open a USave + USpend transaction account

 To open a USpend transaction account, you'll first need an active USave account and have verified your identity.

Step 1 - Open a USave

Step 1 - Open a USave


Complete our easy online application on your computer.

Open a USave in less than 5 mins.

Step 2 - Link a USpend

Step 2 - Link a USpend


iOS Users

You can now easily link a USpend by downloading the UBank app, logging in and selecting ‘Open USpend Transaction Account’

Open and link an Ultra via iOS App

Open and link a USpend via iOS App.

Android and Desktop Users

  1. Log in to UBank’s Online Banking from your computer.

  2. Make sure you have an active USave account and have verified your identity.

  3. Go to the ‘Managing’ tab, click ‘New Account’ and then click on the ‘USpend’ button.

Why UBank?

tick icon

More than 500,000 Australian customers

tick icon

Award Winning Savings Account

Your money is safe

tick icon

Government Guaranteed deposits up to $250K*

tick icon

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 your money can grow


See how our rates stack up.

  • InstitutionProductMaximum Interest rate p.a.Standard Variable rate p.a.
    UBankUSave + USpend1.10%0.10%

    The USave with USpend maximum interest rate includes the bonus interest on your USave. To be eligible to receive the bonus rate you must first hold a USave account & USpend account, have deposited at least $200 to your USave or USpend account from an external source in the previous month and maintain a total balance of not more than $250,000 across all of your USaves / USpend (inclusive of all joint accounts).