From Tuesday December 15, we’re making some changes to our savings and term deposit rates.

We regularly review our interest rates to make sure we’re offering competitive rates to both our home loans and savings customers. We have to strike the right balance between delivering great value to our customers, responding to changing market conditions and managing our business sustainably.

For savings

  • Our USave base variable interest rate will be reduced by 0.15% p.a.
  • Our USaver Reach base variable interest rate will be reduced by 0.15% p.a.
  • Our USaver SMSF base variable interest rate will be reduced by 0.15% p.a.

We continue to offer bonus interest of 1.00% p.a. to eligible USave customers and 0.20% p.a. to eligible USaver SMSF customers when they meet the monthly eligibility requirements.

For Term Deposits

  • Our 2-12 month Term Deposit rates will decrease by 0.10% p.a. for Personal and SMSF Term Deposits.

We continue to offer a loyalty bonus of 0.10% p.a. when customers roll over the full deposit amount for another term.

What date will the new rates be effective from?

Tuesday, 15 December 2020

Who do these changes apply to?

All USave, USaver Reach and USaver SMSF customers.

For Term Deposits, the new rates apply to all new Personal and SMSF customers and those who are rolling over an existing Term Deposit.

 

Eligibility criteria apply to bonus interest o­ffers and are available at ubank.com.au. Consider if these products are right for you by reading the relevant product terms and conditions, available here, before deciding. The product issuer is UBank, a division of National Australia Bank Ltd ABN 12 004 044 937.