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 savings rates have changed

From 15 July 2025, we’ve increased the amount of savings you can earn interest on; you’ll be able to earn up to 5.00% p.a. bonus interest for total combined savings balances between $0 – $1 million, instead of the previous limit of $250K. Additionally, we have simplified our bonus interest rate offer; all interest rate tiers up to $1 million will now have a single bonus interest rate.

Learn more

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
Earn an extra 0.40% p.a. on the Everyday Bonus Rate for the offer period. After the offer period ends the Everyday Bonus Rate applies. See the Offer terms and conditions.

Everyday Bonus Rate, ongoing

 
$0 up to $1M 4.60% p.a.
 
4.60% p.a.
$0 $100k $250k $1M
The Everyday Bonus Rate applies on the portion of your combined savings balance up to $1M. The portion of your savings over $1M earns no interest.
Rates are variable and subject to change. Interest is calculated on your combined savings balance for each day and paid monthly on savings up to $1M per customer. Check out our FAQs to 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 $500+ 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 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

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?