Why our Save account
What's in it for you
We’re changing how you earn bonus interest
From 1 October 2025, the way you qualify for bonus interest is changing. To earn bonus interest, as well as having a Spend account, you’ll need to grow your combined balance across all your Save accounts (excluding accounts that are linked as offsets at the end of the month) by at least $1 each month. A reminder that interest doesn’t count towards this $1.
Our great savings interest rate
What makes up our total interest rate
Bonus interest applies on your combined Save account balances when the Bonus Rate Criteria is met.
Welcome Bonus Rate, up to 4 months
$0 up to $1M | 5.00% p.a. |
5.00% p.a. | ||||
$0 | $100k | $250k | $1M |
Everyday Bonus Rate, ongoing
$0 up to $1M | 4.35% p.a. |
4.35% p.a. | ||||
$0 | $100k | $250k | $1M |

Want bonus interest on all your Save accounts?
Until 30 September 2025, all you need to do is have a Spend account and deposit $500+ per month into any Spend, Bills, or Save accounts (not including internal transfers) to get the bonus interest rate.
From 1 October 2025, to earn bonus interest, as well as having a Spend account, you’ll need to grow your combined balance across all your Save accounts (excluding accounts that are linked as offsets at the end of the month) by at least $1 each month. A reminder that interest doesn’t count towards this $1.
Open up to 10 Save accounts and get bonus interest on all of them, including Shared Save accounts.
Get bonus interest on combined savings of up to $1M across all your Save accounts.
Don’t miss out on bonus interest with the help of our friendly nudges.
Why ubank
See your money clearly
Get better visibility with the Ubank app, so you can money better and reach your goals.

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
Download the app
Enter your ID and personal details
Start using your new accounts
To join us, you’ll need to be over 16 years old and an Australian citizen or permanent resident.