Changes to your savings rates - ubank
www.ubank.com.au
From 15 July 2025, we’ll be introducing Welcome Bonus Rates for new customers, and making some changes to the way your savings at Ubank work, designed to make things easier for you.

Summary of changes:

  • Interest can now be earned on balances up to $1 million (up from $250,000).
  • Interest rate is now flat up to $1 million (instead of progressively lower for higher balances).*
  • Bonus interest rate activated by growing account balances by $1 (instead of by depositing $500 per month regardless of withdrawal).**

* But the interest rate has been lowered, so if you’re one of those peasants who doesn’t keep a cool mil in your bank account, you’ll probably have a lower effective interest rate now
** this change only applies from October onwards.

  • korda@aussie.zone
    3·
    4 days ago

    First ING now these guys. On some months my savings doesn’t grow when all the large bills hit at once. This doesn’t work great for me.

    • MHLoppy@fedia.ioOP
      3·
      4 days ago

      Yeah I’m not a big fan of the hoop-jumping - being able to withdraw the money when needed (without losing the bulk of the interest) was a big pro of a ubank account for me but I guess not anymore 🫠