Interest rate
0% p.a.(for $0 and over)
Maximum rate
0.70% p.a. (for $0 to $1,000,000)
Govt deposit guarantee
Yes up to $250,000

Mozo editorial review Up Saver Account - last updated: 1 March 2021

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What's hot
  • Multiple 2021 Mozo Experts Choice Awards
  • 0.70% special rate when you make 5 card purchases a month
  • $10 bonus when you use code MOZOUP10SAVE at sign up
  • Optional roundup feature
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 Saver Account from neobank Up. The account allows you earn a competitive interest rate with no account fees, plus there's an optional roundup feature which can help you build up your savings stash.

Need more convincing? Not only did the Saver Account win a 2021 Mozo Experts Choice Award in the Regular Saver category, Up took out awards in for Banking Innovation and Excellent Banking App as well! 

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Key features

Banking has never looked more modern and easy than with the Up Saver Account which features a special rate of 0.70% for balances between $0 - $1,000,000 when you make five successful card purchases each month through the linked Up Bank Everyday Account. Just keep in mind that if you don't meet this condition, there's no base rate, so you won't earn any interest on your balance.

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.

Another useful feature is that you'll be able to create multiple and name different Saver Accounts, all of which are eligible to receive the maximum interest rate. That way savers can have dedicated accounts for each of their savings goals. 

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.

Special offer: Sign up for an Up account using the special bonus code MOZOUP10SAVE to automatically receive $10 into your new account. 

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Who is it 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, especially if they can meet the monthly account conditions and make use of the handy tools and features.

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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 5 August 2021. 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: 0.00% p.a.

Balances from $0: 0.70% p.a.
Balances from $1,000,000: 0.00% 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

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