How do I earn bonus interest?
To earn our bonus interest rates on your Save accounts, you must have a Spend account and deposit at least $500 each month into any of your Spend, Bills or Save accounts before 11:30pm (Sydney time) on the last day of each month.
The $500 deposit must not come from your other ubank accounts.
You can transfer your money in and out of your ubank accounts at any time throughout the month and still be eligible to earn bonus interest. It may seem too simple, but it’s really just that easy.
For example, if you deposit $200 into your Spend account and $300 into one of your Save accounts, then you will earn bonus interest for that month on all of your individual Save accounts as well as on any shared Save accounts you hold with a partner-in-finance.
If you or your partner-in-finance deposit $500 or more into any of your shared accounts during the month, you’ll not only get bonus interest on your shared Save account, but on any individual Save accounts held by either of you as well.
Just remember that in both of the examples above, bonus interest is only paid on balances up to $250K per customer.
Your Save account will not be eligible for interest if you close or switch it to an offset account mid-month.