8.4 / 10

based on 863 UBank reviews as rated by Mozo community

UBank savings accounts

One way to maximise your savings is by choosing the right savings account for your needs, and as  consistent high performers, one of UBank's savings accounts could be a great choice. In fact, UBank was named a Regular Savings Award winner at the 2021 Mozo Experts Choice Awards

UBank offers the following savings accounts

Rates and fees verified as correct at 15 May, 2021. Other information correct at the time of writing. Advertiser disclosure.

Product Interest rate Maximum rate Govt deposit guarantee
USave

0.10% p.a.(for $0 to $5,000,000)

No Current Offer

Yes up to $250,000

USave with USpend Transaction Account

0.10% p.a.(for $0 to $5,000,000)

1.10% p.a. (for $0 to $250,000)

Yes up to $250,000

How are UBank savings accounts rated?

Mozo users have rated UBank savings accounts on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of savings-accounts
UBank savings accounts
Overall
8.5/10
Price
Features
Customer service
Convenience
Trust

703 Reviews

Recent UBank savings account reviews

UBank USave with USpend Transaction Account review
Overall 3/10
UBank Visa Debit Card

I lost my UBank Visa card in India Delhi and I receive little support from Ubank. They sent my debit card to my home address in Brisbane not to my address in India. They say because of the security reasons and the rules. Someone at home in Brisbane will have to sent it to India. If you have no one at 'home's well it's bad luck. If you didn't have any spare cash to tie you over, you are in trouble. I had to get a loan from someone. My impression Ubank simple couldn't care less, pathetic customer service. The bank sent two new visa cards by accident and two passwords which cause confusion. When I receive the visa card in Delhi, my contact in Brisbane phone the second password which did not work on my first visa card. Sending out that second card to me was sheer incompetence. Whilst this was going on two weeks plus passed. They refuse to send me the visa card to Delhi because of security reasons. Surely sending the second card was a lapse of security. If that card fell into wrong hands there be a loss. Ubank staff (more then then two) did not ring Visa Global to get them to send a replacement card. They said you ring them which I did but I was unable to get through to them. Their attitude was shocking If I did not have a person in Brisbane to send on the new card to Delhi I would be in deep trouble.

Read full review

I lost my UBank Visa card in India Delhi and I receive little support from Ubank. They sent my debit card to my home address in Brisbane not to my address in India. They say because of the security reasons and the rules. Someone at home in Brisbane will have to sent it to India. If you have no one at 'home's well it's bad luck. If you didn't have any spare cash to tie you over, you are in trouble. I had to get a loan from someone. My impression Ubank simple couldn't care less, pathetic customer service. The bank sent two new visa cards by accident and two passwords which cause confusion. When I receive the visa card in Delhi, my contact in Brisbane phone the second password which did not work on my first visa card. Sending out that second card to me was sheer incompetence. Whilst this was going on two weeks plus passed. They refuse to send me the visa card to Delhi because of security reasons. Surely sending the second card was a lapse of security. If that card fell into wrong hands there be a loss. Ubank staff (more then then two) did not ring Visa Global to get them to send a replacement card. They said you ring them which I did but I was unable to get through to them. Their attitude was shocking If I did not have a person in Brisbane to send on the new card to Delhi I would be in deep trouble.

Price
9/10
Customer service
1/10
Convenience
2/10
Trust
1/10
Less
Stephen, Queensland, reviewed 9 days ago
UBank USave review
Overall 1/10
Awful customer service.

They claim great interest rates however competitors are offering double and triple what they pay. Lodged a dispute for $4000 dollars and they were unable to get it back - they couldn't even give me an answer to what they did to try and recover funds - had to go through the ombudsman to find out they asked the other account for the funds back. Awful customer service - switched to Macquarie and much happier.

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They claim great interest rates however competitors are offering double and triple what they pay. Lodged a dispute for $4000 dollars and they were unable to get it back - they couldn't even give me an answer to what they did to try and recover funds - had to go through the ombudsman to find out they asked the other account for the funds back. Awful customer service - switched to Macquarie and much happier.

Price
1/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Pk, Victoria, reviewed 2 months ago
UBank USave with USpend Transaction Account review
Overall 1/10
'We've got you', they say.

Bad admin, call waiting. ID verification process, unclear on half the information provided in their communication. Closing the account is a nightmare. You'd rather give up. Which is probably what they want.

Read full review

Bad admin, call waiting. ID verification process, unclear on half the information provided in their communication. Closing the account is a nightmare. You'd rather give up. Which is probably what they want.

Price
1/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Jay, Western Australia, reviewed 4 months ago
UBank Savings Account review
Overall 8/10
Relatively good interest rate.

The interest rate is solid, considering what other banks are offering. That said, reductions seem to come in more often than the RBA cuts.

Read full review

The interest rate is solid, considering what other banks are offering. That said, reductions seem to come in more often than the RBA cuts.

Price
8/10
Features
8/10
Customer service
7/10
Convenience
8/10
Trust
9/10
Less
Nick, New South Wales, reviewed 4 months ago

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Savings account quick links