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UBank USave

UBank USave

2.2 from 169 reviews · View Statistics
See the Best Savings Accounts in 2022 as rated by Australians on ProductReview.com.au.
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Reviews

  • Transparency
    5.0 (1)
  • Rates and Fees
    3.0 (1)
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sarah
sarahGreater Melbourne (Metropolitan), VIC
  • 15 reviews
  • 1 like

Highest rate ALWAYS!

published

I have been with Ubank Usaver since it started and it ALWAYS offers the best savings rate consistently. Part of NAB Bank so very safe and secure. All transactions can be actioned on line even opening an account. Very simple, straightforward and easy to understand and operate. I would highly recommend as the best available rate on the market.

Transparency
5/5
Incentivised Review No
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Ric
RicSydney, nsw
  • 61 reviews
  • 50 likes

One of the highest savings interest rates around

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Edmond
Edmond
  • 9 reviews
  • 3 likes

Fantastic Interest Rates. Fast Twitter Support.

published

I left Ubank for CUA because ubank did not offer POLi payments online which i needed for some online Australian sites. Other than that Ubank is a self sufficient online banking service with expense income graphs online.

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3 rounds with ubank; bumpy but not bad

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Theo S
Theo SMetropolitan Adelaide, SA
  • 6 reviews
  • 2 likes
  • Verified

Good bank

published

Good bank for saving accounts. Everything is easy and done online. They respond to all query within a reasonable amount of time. Overall a good bank and recommend them to anyone.

Incentivised Review No
UBank
Adi R.UBank

Hi Theo, we're glad to hear this and thank you for sharing this awesome review. I'll be sure to share this with our team.

If you have any further questions or queries, please let us know. Have a great day! :) ^Adi

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George
George
  • 3 reviews
  • 3 likes

Great for simple savings accounts

published
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Scott
ScottMetropolitan Adelaide, SA

Good value so far

published

I have been a UBank customer for a few months now. I opened an account and regularly send money in from NAB. It was a couple of days initially before the funds would show but now it is on the day. The interest rate still seems to be the best I can find on the net. The only thing which I find annoying is the extra account you MUST have to secure the bonus interest. A: I don't want it. B: I don't use it. C: initially it was a $100 minimum to be kept in it with a 0% rate payable to you but it appears now it is a $500 minimum, so one can easily come to the conclusion that interest runs into UBanks own little nest egg for NAB.
Overall I am happy but I have a credit card I do not want.

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Fran72
Fran72AU
  • 2 reviews

Probate

published

re probate there are a lot of hoops BUT they are very secure so I don't mind. I think I downloaded my probate form. There was no big issue.

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Ozchad
OzchadBEXLEY
  • 3 reviews
  • 3 likes

Good for investment

published

Have been with Ubank for SMSF accounts many years and it gives us very good interest returns than anywhere else. Ubank is a internet based banking institute. This is the way they save money and return their profit to customers with higher interest rate for cash investment. Don't expect Ubank could do better transaction accounts than 5 majors. However if you have some ideal cash and you don't want to risk them in share market that is the place you should go,

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Brisbanite
Brisbanite
  • 7 reviews
  • 12 likes

Overall very positive experience

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Sam
SamAU
  • 60 reviews
  • 33 likes

Good value but customer service could be improved

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Vivien Peri
Vivien PeriAU
  • 2 reviews
  • 1 like

Excellent!! Great Rates!! Easy to use

published

Have been with UBANK 2 years. Must admit im not the easiest person to please. But take my hat off to ubank for their services and getting results.Have 32000 in savings. It was so easy to open the account and link my other account to deposit money. I would recommend if your serious about saving. Just set it up and let your money grow. My 18 year old opened an account and he likes it because he doesn't have easy access to the money.
easy to set up account online, no going inro bank to show id
good if additional funds could be added online instead of having to call.

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Savings Accounts

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Always helpful, good interest rate

published

Have been using Ubank for about 12 months, never any problems. Website does take a little time to get used to but never had any issues. Does the transfers much quicker than your average bank, I can't fault it and I have always got through to the bank when i needed to - actually rang on Sunday and was answered within about 30 seconds.
Good interest rate
Website took a little longer to understand

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cleopatra49
cleopatra49PERTH
  • 7 reviews
  • 4 likes

Good if you open an Automatic Savings Plan option.

published
aimee29
aimee29
grace.boland
grace.boland

yes ,i found without notice the interest rate dropped quite a lot .i am about to withdraw all my money,as the commonwealth bank has offered me higher interest and waiting 20 mins to speak to someone drives me crazy as they play that shocking music.

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rastus
rastus
  • 15 reviews
  • 13 likes

no statements or direct debits a worry, but best interest rate

published
Rates and Fees
3/5
Incentivised Review No
UBank
Adi R.UBank
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Questions & Answers

Gopi
Gopiasked

I was thinking of changing my mortgage loan from CBA to u bank because it has low interest rate.
After seeing all the reviews Which are not very positive, I am bit confused.
If any one in the same situation please share your thoughts.

No answers
binalongbay
binalongbayasked

I have read reviews...a little disappointing. i was thinking of re mortgaging an investment loan with U bank.
As the reviews are a little old ..has the situation improved ad how easy is it to deposit money each fortnight to pay back an investment loan

No answers
GPC
GPCasked

Hi
Whats the story with designating my Linked account as a Payee account? Of course its my linked account- Thats where the money came from. I send you a secure email to request information but no answer from YOU. I ring up and wait, and wait on the phone to talk to someone. Only to be told your Linked account is a payee account with a 20k withdrawl limit. I have to wait 10 Days for verification WTF. You make it so difficult to use this account with all your hidden tricks and inability to communicate with your customer. Worst bank Ive ever delt with and the online reviews confirm it.

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Details

CategorySavings Accounts
Bonus Interest PeriodOngoing
Maximum Balance Interest Paid $250,000.00
Interest Rate
Standard Variable Rate 0.05% p.a.
Bonus Variable Rate 1% p.a.
Total Interest Rate 1.05% p.a.
Release dateNov 2009
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