Offering a competitive interest rate with a choice of a 1, 3, 6, 9 or 12 month term, the UBank self managed super fund (SMSF) term deposit could give the flexibility that you need for your investment. With no application or ongoing fees, you get the security of a fixed interest rate with the financial strength of National Australia Bank (NAB).
You'll need to make sure that you SMSF is compliant with no more than two individual trustees and a maximum of two directors.
- Product Name
- UBank Self-Managed Super Fund
- Maximum Variable Rate
- 3.51% p.a.
- Standard Variable Rate
- 3.11% p.a.
- Bonus Variable Rate
- 0.40% p.a.
- Introductory / Bonus Offer Conditions
- You'll earn bonus interest each month if you don't make withdrawals from your account.
- Monthly Fee
- Minimum Opening Deposit
- Internet Banking
- Phone Banking
- Phone Transaction Fee
- Maximum Deposit
- Joint application?
- Minimum Age Requirement
- Maximum Age Requirement
- No Maximum Age
- Covered by Government Guarantee?
- Yes (Up to $250,000 per person, per institution)
Features and benefits of the UBank SMSF term deposit
- Flexible terms. The UBank self-managed super fund term deposit accounts are available for terms of 1 month, 3 months, 6 months, 9 months, 12 months or 24 months. This can give you plenty of options as far as earning a good return on your superannuation savings, without the need to tie up your money for years at a time. In most cases, your interest is paid at the end of the term directly to the linked account you nominated.
- Application process. All applications are done online.
- Minimum deposit. A minimum of $0 with a maximum of $2 million per account.
- Bonus interest. To be eligible for the 0.10% p.a. loyalty bonus on top of your current rate, you need to rollover 100% of your initial term deposit amount or more.
- Third party access. At this current point in time UBank doesn't have this feature available.
- High competitive interest rate
- No transaction fees
- $sa_product_min_balance minimum deposit
- Up to a maximum deposit of $2000000
How to open an account
If you would like to open an account or find out more information about this product, click follow the secure links on this page to be taken to UBank's enquiry page.
- In order to open your UBank Self-Managed Super Fund term deposit account, you will need to verify that you have a complying SMSF where either you have trustees that are two individuals or a corporate trustee in which the company has two directors.
- You should be able to link your UBank account to any other Australian bank account that is in the same name as your self-managed super fund, or in the same name of the trustees. This linked account is where your interest payments will be paid to.
Information you'll need to provide
- Your full name and address
- Date of birth
- Driver's Licence Number
- Australian phone number and email address
- Details of your linked bank account
- Tax File Number
- A security question and answer
How does UBank verify my SMSF?
You will need to provide evidence of the details of your self-managed super fund to qualify for this type of high interest account. UBank may require a certified copy of your SMSF trust deed, showing the name of the trust and naming the trustees and members of the fund.
When you nominate your linked Australian bank account, you will also need to provide a statement from that bank, showing that the account is either in the name of your SMSF or in the name of the trustees of the fund.
So if you want to boost your retirement savings, but not tie your money up for years at a time, the UBank Self-Managed Super Fund term deposit account could offer you the ideal way to get your super money working for you.