ubank FAQs

Info on current ubank products

How do I earn bonus interest?

To earn our bonus interest rate on your Save accounts, you must have a Spend account and put $200+ each month into any of your Spend or Save accounts before 11:30pm (Sydney time) on the last day of each month. This doesn’t include internal transfers between accounts.

You can also take your money out at any time without affecting your bonus rate. It may seem too simple, but it’s really just that easy.

For example, if you put $100 into your Spend account and $100 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 $200+ 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.

The bonus rate is only paid on balances up to $250K per customer.

If you close your Save account during the month you will not earn any interest.

If you switch to an offset account you will not earn bonus interest during the month.