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

Earn up to 2.85% p.a.

From 1 September 2022, we’ll be increasing our bonus interest rate to 2.75% p.a. for both our Save and USave accounts. Our base rate will remain at 0.10% p.a., meaning you’ll be able to earn interest up to 2.85% p.a. across all your eligible ubank accounts.

Our great savings interest rate

What makes up our total interest rate

Base rate
Bonus interest rate
Total interest rate

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.

Earn bonus interest

Want bonus interest on all your Save accounts?

Don’t we all! You’ll need a Spend account and deposit $200+ per month into any of your Spend or Save accounts (not including internal transfers) to get the bonus interest rate and that’s it.

  • 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.

Give us a go and score $20!

Get set up in 2 mins and use the referral code BONUS20 to get $20 after 3 card purchases in your first 30 days.
Available during offer period. Ts&Cs apply.

Download on the App StoreGet it on Google Play

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.

Savings target phone screen

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.

pay from save

Pay straight from your Save account

  • No more transferring to your Spend accounts just to cover those upcoming bills.

  • Make payments, set up direct debits and pay bills using BPAY straight from your Save accounts just to make your life a little easier.

Instant access to your savings when you need it

Instant access to your savings when you need it

  • Transfers in and out of your Save account are 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!

Connected accounts

It’s okay to see other banks

  • You can connect accounts from over 140 financial institutions – we don’t get jealous

  • You can even connect your super and investments to get the big picture experience when you check in on your money.

  • Our total savings graphs is an easy way to visualise how much you’ve saved across all your connected accounts.

Plus get a Spend account

When you join ubank, you’ll get 2 accounts, a Spend and a Save. Our Spend account comes with loads of handy insights and no everyday fees.

Get a Spend account

Join us

How to get started with ubank

Start using your Spend and Save accounts in just 2 minutes.

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


Have any questions?