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  • USaver
    savings account
    1.35% p.a.

    Base variable interest rate

    USaver + USaver Ultra transaction account
    Earn up to 2.41% p.a.[01]

    Variable interest rate
    On your USaver savings account when you link it to a USaver Ultra transaction account and meet the bonus criteria.

    No monthly fees
    Interest calculated daily
    Reach your savings goals faster



Why apply for a USaver account and add a USaver Ultra transaction account?

No overseas fees

24/7 access with your UBank Visa Debit card

We don’t charge ATM withdrawal and foreign exchange fees when you access your Ultra transaction account overseas, or for online purchases with overseas merchants.


No monthly fees

$0 monthly fees with USaver Ultra

We don’t charge you monthly account keeping fees like some other banks.


Bonus rate

USaver Ultra bonus rate

Eligible savings account customers can add a transaction account to earn an extra 1.06% p.a. bonus interest on their savings account. Bonus rate criteria [02].


Sweep technology

USaver Ultra sweep technology

Brand new Sweep Technology helps you earn maximum interest on your savings and have convenient access to your spending money 24/7.


Built-in sweep technology

Sweep technology helps ensure you have the money you need on hand 24/7 in your transaction account, while the rest works hard in your savings account earning interest.

How? The Sweep automatically moves money between your linked transaction and savings accounts each night, based on the limits you set, without you having to lift a finger.

Then if, for some reason, you need to spend a bit more, depending on the type of transaction, Sweep will also automatically move money from your savings in real time, so you won’t be declined or overdrawn.

Sweep info


If your transaction account exceeds the maximum limit, we'll automatically sweep that extra money into your savings account so it can earn interest.


If your transaction account dips below the minimum limit, and assuming there’s enough money in your linked savings account, we’ll automatically sweep some money from your savings account to top up your transaction account, ready for the day ahead.



What are the USaver Ultra fees & charges?

Here’s the breakdown.



Monthly account fee


Overdrawn fee


ATM withdrawal fee (Australia)

$0 at any NAB operated ATM.

Other operators may charge a fee to use their ATM.

ATM withdrawal fee (Overseas)


A fee may be charged by the operator of the ATM.

Foreign exchange fee


This includes no foreign exchange fee for online purchases with overseas merchants.

Merchants may charge their own fees when you pay for goods and services using your UBank Visa Debit card.



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 Ultra2.41%1.35%
    UBankUSaver Reach *1.86%1.86%
    ANZOnline Saver1.95%0.15%
    BankwestSmart eSaver1.65%0.01%
    BankwestTeleNet Saver2.70%0.75%
    BOQWebSavings Account0.01%0.01%
    CitiOnline Saver2.40%1.10%
    Commonwealth BankNetBank Saver2.20%0.30%
    INGSavings Maximiser2.30%0.50%
    Suncorp BankEveryday Options Sub-account0.90%0.90%

    Information accurate as at 20 July 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


How to open

Add a transaction account to your savings account.

Opening a USaver Ultra transaction account is easy.

Simply make sure you have an active UBank USaver savings account with a balance of at least $1.

If you don’t already have a USaver savings account, you can open one here. Then follow the steps below to get started with USaver Ultra.

Log in to UBank’s Online Banking from your computer[03]

  • Go to the ‘Managing’ tab
  • Click ‘New Account’
  • Click on the ‘USaver Ultra’ button
  • Get ready for a whole new way to manage your money!

Things you should know

[01] Interest earned on nominated Savings account only. Rate includes 1.06% p.a. bonus variable interest rate. Conditions apply.

[02] To get the bonus variable interest rate, you must deposit at least $200 a month into your USaver Ultra transaction or USaver savings account from a non-UBank account (for example, your salary). Also, the total balance across all of your USaver and USaver Ultra accounts, including joint accounts, must not exceed $200,000.

Provided you meet the criteria in the current month, you’ll start earning the bonus interest on your linked USaver savings account from the 1st of the following month.

Please note:

  • The bonus variable interest rate will be applied to balances held in the USaver savings account linked to your USaver Ultra transaction account.
  • Withdrawals from either the USaver savings account or linked USaver Ultra transaction account do not affect your bonus.

[03] You are unable to open a USaver Ultra transaction account from your mobile or within the UBank iOS and Android apps.