If I link my save account to my loan as an offset, how does this affect me earning interest?
If you link your Save account to your Flex Variable loan as an offset there are two things you should know.
- In the month that you link, and from then on, you won’t earn interest on that Save account.
- Linking your account can impact how you meet the Save account’s Bonus Interest Criteria:
- When working out if your total savings have grown during February 2026 (or in previous months), any changes to the balance of the Save account you link won’t be taken into account when working out if you have met the bonus interest criteria for that month.
- When working out if your total savings have grown in March 2026 onwards, we will treat any Save account you link as an offset as if it had a balance of zero from that point on (as it is now being used as an offset rather than as savings), for the purposes of the bonus interest criteria that balance is ignored.
If you delink your Save account:
- In the month that you delink that Save account as an offset, you won’t earn interest on that Save account.
- Delinking your account can impact how you meet the Save account’s Bonus Interest Criteria:
- When working out if your total savings have grown during February 2026 (or in previous months), any changes to the balance of the Save account you link will be taken into account when working out if you have met the bonus interest criteria for that month.
- When working out if your total savings have grown in March 2026 onwards, we will treat any Save account you delink as an offset as if it had a balance of zero until that point (as it was being used as an offset and now, as savings).
You can link your new or existing Ubank accounts to offset your loan in the app, or call us on 13 30 80 to link your accounts. We’re available during our opening hours.