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  • USaver
    from 1.04% p.a.
    USaver base variable rate

    No fees whatsoever
    so you can reach your
    savings goals faster



Why apply for a savings account with UBank?

No fees

$0 fees icon

UBank doesn’t eat into your savings with fees.



Flexible savings accounts

Transfer funds to any eligible Australian bank account.


Ease of use


Quick and easy online account opening process. Keep track of your progress with online savings tools.


No min. balance

USaver - no minimum balance required

No minimum balance is required to open and maintain your savings account.




Decide which USaver account is best for you


USaver Reach

No fees

Over 18 years old

18-29 years old

Max investment



Base variable rate

1.04% p.a.

1.55% p.a.



Find out how your money can grow



See how our rates stack up against our competitors

  • InstitutionProductMaximum Interest rate p.a.Standard Variable rate p.a.
    UBankUSaver with Ultra2.10%1.04%
    UBankUSaver Reach *1.55%1.55%
    ANZOnline Saver1.60%0.10%
    BankwestSmart eSaver1.40%0.01%
    BankwestTeleNet Saver2.35%0.50%
    BOQWebSavings Account0.01%0.01%
    CitiOnline Saver2.30%0.85%
    Commonwealth BankNetBank Saver1.65%0.10%
    INGSavings Maximiser1.95%0.25%
    Suncorp BankEveryday Options Sub-account0.55%0.55%

    Information accurate as at 14 October 2019. 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 / USaver 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

Mozo Experts Choice 2019
Canstar Awards 2019

Canstar Bank of The Year

Savings - 5 years running (2015 - 2019)
Regular Saver (2015 - 2018)
Flexible Saver (2016 - 2018)



Here’s what our customers have to say.

Easy to use and High interest Miranda

I have been using Ubank for a quite a few years and the products have only improved. Have never had an issue with UBank and highly recommend to all my friends and family. No other bank seems to be able to match the rates.

Great product, great service Meerkat

In these times of minuscule interest rates from most institutions it is a revelation to find a product that offers an interest rate comfortably above inflation, a sign-up process that is easily executed from home, and an online account that is easy to navigate.

Terrific accounts ... would recommend to everyone sue1950

I have had a UBank account since they were first introduced. Now I have linked a new UBank Ultra to the first account. And am very impressed to be able to have ATM and Eftpos access as well, on top of receiving high interest rates. The person who thought up the idea of the Sweep system is brilliant.