UBank Savings Accounts and Investments

Before you decide you don’t need to know about yet another Australian bank or financial institution, consider why there are so many – it’s for the same reason there are so many different savings accounts or transaction accounts or credit cards, because each Australian is different, and each one of us uses and accesses our money differently.

Savings Account	Account Details	Intro Rate p.a.	Variable Rate p.a.	Intro Period p.a.	Fees	Min Balance and Min Deposit
UBank USaver	Base Rate 5.75%, Bonus 0.10% with savings plan	5.75%	5.75%	N/A	FREE	$0 – $1m

Therefore, UBank might just be for you:

• UBank is secure as it is a division of the National Australia Bank, which is one of the Big Four Banks.
• UBank doesn’t have any branches so you can save time and money by doing all of your banking online.
• As a UBank customer you have access to the 24 hour, seven day a week call centre, and even if you just have a question about a product, the UBank Sydney-based call centre will be there.
• UBank is backed by NAB but operates independently and benefits from the security of a big bank’s backing, while maintaining their own customer service principles and products.

UBank Savings Account

A great account to be managed online is a savings account because if your savings are out of sight, they are out of mind, and therefore outside of your ability to spend them before you’ve reached your goal.

The UBank online savings account offers:

• Fee free banking.
• Online application and online banking to manage your account.
• Access to a 24/7 Australian call centre.
• A high interest rate which is regularly reviewed and raised to remain competitive with other high interest savings products from other banks.
• The ability to open more than one high interest savings account if you have more than one savings goal.
• Plenty of online tools and calculators to keep track of your savings and meet your goals.
• Find out more about the USaver high interest savings account in Saving Account Finder’s product review.

UBank Long Term Savings

UBank also offers term deposit accounts for larger or longer term investments and a UBank term deposit includes:

• A fee free term deposit account.
• Competitive interest rates, which vary depending on whether you choose the one month, three month, six month, nine month or 12 month term.
• The option to use your term deposit as a self-managed super fund.
• A bonus if you rollover your investment at the end of the term.

Benefits of UBank Bank Accounts

UBank offers many of the features you would expect with online accounts and some additional bonuses and features to make your savings grow faster, or sooner, or more easily.

Other features of UBank:

• Online calculators. These calculators are easy to use and allow you to manipulate all the options of a term deposit or high interest savings account so you can see how the term and the investment you choose affect your end savings result. Then you can make choices about the features which are important to you, based on your calculations – do you need access to your term deposit in six months, or can you wait nine months and earn an extra couple of hundred dollars? Use the calculators to see the difference just a few months or a few hundred dollars can make.

  
  

  
  

  
  

• Webinars to explain the Australian and global financial markets and how their changes affect you. UBank has uploaded a series of two minute webinars to their website to help you understand what is going on in the world and local financial markets, and what you need to do about it. You can find out a little more about the share market, find out why we had a GFC in the first place and be inspired to save in just a two minute snippet of web video.
• UBank is an online bank. Most banks will allow you to operate your accounts with them online but they will still have branches and staff. However, with a completely online bank, the bank saves money on staffing and branch costs which they pass onto you, meaning all of your accounts with UBank can be operated fee free, but you still have 24 hour access, seven days a week to a banking representative in Sydney.

If you are looking for the new way to do your banking, UBank can offer you online management of your accounts and great interest rates on your savings, so compare UBank to our other providers, or compare the UBank investment and savings accounts to those of other Australian banks and see if the features suit your needs, and decide whether you’ll really miss not having a branch to go to…thought not.