UBank Savings account reviews
Overall rating
Recent UBank savings account reviews
UBank USave with USpend Transaction Account review
Competitive rates and great bank to be with.
Before the interest rate cuts by the RBA, they were in the top 5 with about 3+% given to savers on their variable monthly interest earnings. What attracted me to Ubank is that the terms are really easy to follow. They don't make you spend certain amounts a month to qualify for interest or ask you to deposit a lot of money either. I'm a big saver and being encouraged to save more is great but I like to be flexible and they give me that. The website is easy to use and the UI is very easy to understand. One of the most underrated things they have is that they allow you to name your bank accounts how you wish, it's a nice touch in my opinion. Where they fall off is the sweeper function they have on their system but I have been saved by it before. Another negative is the fact it's all online, so physical branches mean having to travel but in saying that, they would not be able to offer such great rates if they had a more physical business model. I've had no issue with withdrawing cash as they don't charge for using competitors ATM's but if you wish to speak to someone, you have to queue up on the phone. Otherwise, the staff are friendly. The app is also easy to use and they makes it really easy to keep a track of your savings whilst encouraging you to add long term goals. One other positive I can note is that I have no issue transferring money between accounts. With other banks I've used before, it could take 2-3 business days, but with Ubank normally takes about 1.
UBank Savings Account review
Competitive rates but lack of personal service.
Competitive rates, but can't access physical branch. Also, the sweep thing is annoying.
UBank Savings Account review
Very easy to use and simple for what it is.
Very easy to use and simple for what it is. Great online savings account
UBank USave with USpend Transaction Account review
Premiums is still competitive
Interest rate keeps dropping.
UBank USave with USpend Transaction Account review
Lacks efficiencies offered by other online banks.
UBank has not implemented New Payments Platform (NPP). For an online bank to not offer the facilitation of faster, more convenient banking is a real negative. No real-time transfers, no PayID, no Osko. I encourage UBank to make this happen as soon as possible.
UBank USave with USpend Transaction Account review
Great account with high interest rates
Excellent account with one of the higher interest rates I've encountered. Being able to set savings goals through the app is helpful, and the fact that UBank is backed by one of the big banks is very reassuring. The Sweep function is useful but it would be good if there were was an option to turn it off.
UBank USave with USpend Transaction Account review
Good interest rates and money available on call.
UBank offer a good interest rate and your money is available on call.
UBank USave with USpend Transaction Account review
Best interest rate online savings account.
Best interest rate savings account, very convenient and easy to use.
UBank USave with USpend Transaction Account review
Better than the major banks.
UBank offers the highest interest for savings account but sometimes it's hard to get customer service without having a physical branch.
UBank USave review
Great service and ease of use.
Always had great experience with Ubank. Only con was when they added cards to accounts. I liked the fact it was purely an online bank originally. But apart from that, it's been great!
UBank USave with USpend Transaction Account review
Highest interest rates for savings accounts.
Ubank have no account keeping fees and have the highest interest rates for saver accounts in the market (excluding banks with introductory 1-3 month boosted interest rates).
UBank USave review
Outstanding online banking services!
The customer service within the branch is fantastic. The staff who greet you are incredibly knowledgable and always know where to direct you and aim to get you served as soon as possible. The online banking portal "Netbank" is simple to use and incredibly cohesive. I have multiple accounts and travel cards and they have made it so easy for funds to be transferred between each of these.
UBank USave SMSF review
Competitive interest rate
Interest rate is great ensures that I keep money in the bank. Can access help through partner bank nab if needs be. Encourages saving
UBank USave with USpend Transaction Account review
Competitive rates of return and easy to use
They have had brilliant rates (when interest rates were high) but they aren't quite as competitive at the moment. Nonetheless, they give better returns than the big 4, and the online interface is pretty easy to use.
UBank USave with USpend Transaction Account review
High interest rates, but online only
Best savings account with high interest rates and no frills service.
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Savings account comparisons on Mozo - rates updated daily
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PromotedBonus Saver Account
- Maximum rate
- 1.75% p.a. (for $0 to $250,000)
- standard interest rate
- 0.15% p.a.(for $0 and over)
- Govt Deposit Guarantee
- Yesup to $250,000
Bonus rate when at least $20 is deposited each month and five Visa Debit transactions are made each month using linked Everyday or Glide transaction accounts.
- Promoted
Life Saver
- Maximum rate
- 2.00% p.a. (for $0 and over)
- standard interest rate
- 0% p.a.(for $0 and over)
- Govt Deposit Guarantee
- Yesup to $250,000
Account balance must increase each month
- Promoted
High Interest Savings Account
- Maximum rate
- 2.25% p.a. (for $0 to $250,001)
- standard interest rate
- 0.80% p.a.(for $0 to $250,001)
- Govt Deposit Guarantee
- Yesup to $250,000
Bonus rate for the first 4 months from account opening
- Promoted
Serious Saver
- Maximum rate
- 2.10% p.a. (for $0 to $1,000,000)
- standard interest rate
- 0% p.a.(for $0 and over)
- Govt Deposit Guarantee
- Yesup to $250,000
No withdrawals in the month. Bonus rate for first 4 months, reverting to 0.15% bonus rate after*
- Promoted
Growth Saver Account
- Maximum rate
- 1.75% p.a. (for $0 and over)
- standard interest rate
- 0.15% p.a.(for $0 and over)
- Govt Deposit Guarantee
- Yesup to $250,000
Grow your balance by $200 or more and make no more than one withdrawal in the month.
Want more? Compare all 233 savings accounts in the Mozo comparison engine.
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Mozo gives you the inside story on the best banking, energy and insurance products as rated by thousands of real customers around Australia. We don't make subjective judgments, nor do advertisers influence our ratings. Although our reviews may be moderated to improve quality standards, they are moderated independently of any of Mozo’s commercial relationships.
