Key changes to Save accounts from 1 July

We’ll be introducing new bonus rate criteria and bonus interest tiers. You can meet the bonus rate criteria by depositing $500 during the month, regardless of whether you grow your balance or withdraw those funds later.

Savings between $0-$100k will earn 5.50% p.a. and savings from $100K-$250K will earn 5.00% p.a. Most external payments from Save accounts will no longer be available.

More on changes

Why our Save account

What's in it for you

  • No fees icon
    Forget fees

    No monthly fees on any of your Save accounts

  • Splits icon
    Split your money

    Open up to 10 Save accounts to stay on top of your goals

  • Savings target
    Set savings targets

    Track your progress on each of your Save accounts

  • Government guaranteed

    Deposits guaranteed up to $250k per customer1

Our high interest savings rate

What makes up our total interest rate

Base rate
0.10%p.a.
Bonus interest rate
5.00%p.a.
Total interest rate
5.10%p.a.

This rate is variable and subject to change. Interest is calculated on your Save balance daily and paid monthly. See what makes you eligible for bonus interest.

Want bonus interest on all your Save accounts?

All you need to do is have a Spend account and deposit $200+ per month into any Spend, Bills or Save accounts (not including internal transfers) to get the bonus interest rate. Easy.

  • Take money out at any time without affecting your bonus rate.

  • Open up to 10 Save accounts and get bonus interest on all of them, including shared Save accounts.

  • Get bonus interest on a combined balance of up to $250K across all your Save accounts.

  • Don’t miss out on bonus interest with the help of our friendly nudges.

App experience

Explore how we're different

We’re not like other banks. We’ll help you hit targets, access your savings when you need to and give you the visibility you need.

Hit all your savings targets, right on the money

  • Create up to 10 Save accounts and set targets on any of them.

  • We’ll help you smash your goals. Tell us when you want to hit your target and we can show you how to get there one step at a time.

  • Edit your target at any time and we’ll adjust your plan to get there.

Almost instant access to your savings when you need it

  • Transfers in to your Save account are almost instant via PayID and Osko (if the other bank has it).

  • Life happens, so you can take money out at any time without affecting your bonus interest rate – it’s your money after all!

It’s okay to see other banks

  • See your money in one place by connecting to over 140 other financial institutions.

  • You can even connect your super and investments to get the whole picture of how your money is moving.

  • With an easy savings graph, you can see your total savings across all your connected accounts.

Plus get 2 more accounts, a Spend and a Bills

When you join ubank, you’ll get 3 accounts, a Spend, a Bills, and a Save. Our accounts come with handy features to manage your money and have no everyday fees.

Join us

How to get started with ubank

You can start using your Spend, Bills, and Save accounts in minutes

To join us, you’ll need to be over 16 years old and an Australian citizen or permanent resident.

We’re award winning

Get ahead of the pack

Become a better saver with our award-winning Save account

FAQs

Have any questions?