ubank FAQs

Info on current ubank products

This FAQ is related to a current ubank product. Head to our help centre if you want info about original ubank products that new customers can no longer access.

What is a fixed rate loan?

A fixed rate home loan locks in an interest rate for the entirety of your chosen fixed term. If you’re on a fixed loan and repaying principal and interest (P&I), you will have the exact same repayments during your fixed term.

You can get a fixed term of 1, 2, 3 or 5 years whether you’re repaying principal and interest (P&I) or interest only (IO). We don’t offer offset accounts if you have a fixed home loan.

If you’re on an Own fixed loan, you can make additional payments up to $20K at no extra cost during your fixed term which you can redraw into your Spend or Save account when needed. If you make or redraw more than $20K in additional payments during your fixed term, you may be charged break costs.