UBank savings accounts
UBank's overall rating for savings accounts is
8.7(as rated by the Mozo community)
UBank offers the following savings accounts
| Product | Interest Rate | Special Rate | Conditions | |
|---|---|---|---|---|
| USaver | 6.01% | 6.51% | Must set up an automatic savings plan of $200 or more. Special rate will apply in the months following the first. | Go to site |
| USaver Reach | 0.00% | 6.51% | Must be aged between 18 and 29 years. | Go to site |
UBank is a new direct bank which is backed by NAB, one of Australia’s big four banks. UBank launched in 2008 with a competitive term deposit product, which customers can apply for and manage online. As a direct bank, UBank doesn’t have a branch network but it does have a 24-hour,
seven day a week ‘person to person’ phone banking centre for those wanting to speak to a real person. Cost savings are passed onto customers in the form of higher rates and lower fees. As of 2010 UBank has a range of competitive term deposits, super and savings accounts.
Reviews of UBank savings accounts
| A Mozo reviewer from Australian Capital Territory, an UBank savings account customer. | 9Overall Rating | ||
| I like the savings graph that is shown when we log into our account and the high interest rate earned. Reviewed 1 day ago |
|
| Sue from Queensland, an UBank savings account customer. | 10Overall Rating | ||
| UBank online savings account is the easiest savings plan I know. Awesome interest rate and money is on call. Reviewed 14 days ago |
|
| Jules from Queensland, an UBank savings account customer. | 9Overall Rating | ||
| Pros: No recurring fees. Excellent interest rates. Good customer service. Competitive range of products. Allows you to set up several automatic savings accounts-in-one and set targets for different items. Cons: Branch access can be problematic as it doesn't exist. Online banking can be confusing when trying to navigate to the account itself as the website is bogged down with extra information tidbits and other features that resemble what you might imagine the actual savings account page but actually have no bearing on the automatic savings plans or transfer of funds. Reviewed 14 days ago |
|
| Marty from Victoria, an UBank savings account customer. | 2Overall Rating | ||
| Signing up to uBank is deceivingly harder than signing up to a real bank. I signed up online, transferred money to my account and then when i urgently needed access to it again they wouldn't let me access the money! I was overseas, in desperate need of the cash and they said that the only way I could access my money is if I took a verification form into Australia Post, only me (not a family member) could do it (I was on the other side of the world in London). I had to borrow a huge loan on my Credit card till I got back to Australia 2 months later. Don't trust these guys with your money they're rubbish. Reviewed 14 days ago |
|
| A Mozo reviewer from Victoria, an UBank savings account customer. | 10Overall Rating | ||
| I really love having my Ubank account because it's all online so it's quick and easy to use. It has savings tracking so you set yourself a goal and it keeps you on track and motivated to get there! It also has a terrific interest rate so your hard earned money is working hard for you too. I'm saving for a house deposit at the moment and it's really helping me get to where I need to be. Ubank is also backed by the NAB - so I trust them. Overall I would recommend everyone use Ubank for their savings. Reviewed 14 days ago |
|
How are other UBank products rated by the Mozo community?
| Product Type | Overall | Price | Features | Service | Convenience | Trust |
|---|---|---|---|---|---|---|
| Overall | 8.7 | 9.3 | 7.8 | 7.9 | 8.2 | 8.3 |
| UBank term deposits | 8.3 30 REVIEWS | 9.3 | 7.0 | 8.0 | 7.6 | 8.4 |
| UBank savings accounts | 8.7 115 REVIEWS | 9.3 | 7.8 | 7.9 | 8.2 | 8.3 |
Other providers of savings accounts
With so many different savings accounts on the market now, it's a tough call to pick the best one. Mozo is Australia's online money info zone, with all the objective information you need to make the right savings account choice. You can find and compare UBank savings accounts with Mozo or check out these other providers.
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