Up Bank Saver Account

0.50% p.a.(for $0 and over)

2.50% p.a. (for $0 to $50,000)

Up Bank Saver Account

0.50% p.a.(for $0 and over)

2.50% p.a. (for $0 to $50,000)

Mozo Review   Up Bank Saver Account Review

Last updated: 20 August 2019.

What's hot:
  • 2.50% special rate when you make 5 card purchases a month

  • Mozo Experts Choice Award 2019

  • Optional roundup feature

  • No account fees

What's not:
  • Savings account only accessible through iOS or Android app

Mozo snapshot:

If you’re a keen saver who loves the convenience of mobile banking, then you might want to check out the 2019 Mozo Experts Choice Award winning Up Bank Saver Account. The account allows you to start earning interest with any balance you’d like and doesn’t charge any account fees. There’s also an optional roundup feature which can help you build up your savings stash.


Key features:

Banking has never looked more modern and easy with the Up Bank Saver Account. For the first four months the savings account features a special rate of 2.50% for balances between $0 - $50,000. But it doesn't stop there - if you then make five successful card purchases each month through the linked Up Bank Everyday Account, you can keep earning this bumper interest. Just keep in mind that if you don't meet this condition, the interest rate will drop down to 0.50%.

Plus, with no minimum balance required, you can get started straight away no matter how big or small your savings stash is.

There are also no account fees, so you can keep every saved dollar in your Up Bank account.

One handy perk with the Up Bank Saver Account is the optional roundup feature. Every time you make a purchase with the linked transaction account, the tool will automatically round it up to the nearest whole dollar before transferring the difference to your linked Saver Account.

If you are thinking of opening a Up Bank Saver Account, just bear in mind that there is no branch or phone access and customers can only access the account through the iOS or Android app.

Who it's good for:

For Aussie savers who like to keep everything they do through their mobile, then the Up Bank Saver Account is a top pick. It’s also a good option for those who want to earn a great interest rate on a temporary basis, as the bonus rate is only available for the first 4 months.

Any catches?

The Up Saver Account can only be accessed through the iOS or Android app, so if you prefer to bank with providers that allow you to walk into a branch or use a desktop platform, then you may want to consider other accounts.


Details

Rates and fees information correct as at 19 September 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • Balances from $0: 0.50% p.a.

  • Balances from $0: 2.50% p.a.
    Balances from $50,000: 0.50% p.a.

  • Make 5 or more successful card purchases per calendar month using your Up debit card and digital wallets (ATM transactions excluded).

Fees
  • $0.00

  • n/a

  • Unlimited free transactions from mobile app.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • $0.00

  • n/a

Other financial bits
  • $0.00

  • $0.00

  • Monthly

Features
  • no

  • none

  • no

  • no

  • no

  • no

  • no

  • no

  • yes

  • no

  • no

  • Bank and saving account only accessible through iOS or Android app.

  • Optional roundup feature automatically rounds purchase to the nearest whole dollar and transfers difference to linked Saver Account.

  • none

Customer Reviews

This product is not currently reviewed.

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