First thought that came to my mind: "AWWH HEELL NO"
Just checked my statement and it appears that uBank is dropping their rates again to 4.02%. Just .0.1% above ING's.
https://www.ozbargain.com.au/node/139439
Thoughts? Explanations? Conspiracy Theories?
It's been 4.02% for a while.
1/01/2015 PLEASE NOTE INTEREST RATE EFFECTIVE FROM 01-Jan-2015 IS : 4.02 % P.A..
1/12/2014 PLEASE NOTE INTEREST RATE EFFECTIVE FROM 01-Dec-2014 IS : 4.02 % P.A..
1/11/2014 PLEASE NOTE INTEREST RATE EFFECTIVE FROM 01-Nov-2014 IS : 4.02 % P.A..
1/10/2014 PLEASE NOTE INTEREST RATE EFFECTIVE FROM 01-Oct-2014 IS : 4.17 % P.A..
any stock market day trader that can guarantee 10% profit a year and need investment? haha
yeah no worries, ill take $10000 and guarantee an return of 10% in a year.
on another note, anyone have $11000 next year, i'll guarantee a return on 10% on that too
Its the time for borrowing not saving, check out the homeloan rates!!
Just .0.1% above ING's.
I used to park my moolah in a Ubank account but since ING is slightly easier to use, I don't mind not having that extra 0.02%.
Does Ubank still have that convoluted sweep system for their Ultra accounts since the bonus no longer applies to ASPs?
Yes. It's ridiculous. You can select which "account" the money comes from by which eftpos button you push. So just make it one account for goodness sake. Then they can reduce the number of call centre staff (due to having to explain sweeps a dozen tmies a day), save some money, and so stop dropping the interest rate.
BTW. I've always avoided the stock market because I'm sick and tired of things that require a huge learning curve. But if they drop interest rates just ONE MORE TIME, guess what UBank… You might just wake up next morning to find a bunch of people have had the same thought - and you no longer HAVE money to loan out.
Who has the best interest rate for trusts accounts?
"Does UBank still have that convoluted sweep system for their Ultra accounts since the bonus no longer applies to ASPs?"
Yep. Applying for their new system felt like a MENSA test. Mins, maxes, ambiguous ASP status.
Even now it appears that the bonus can be applied via an ASP debit, whereas I'd understood it to mean that the ASP debits would be scrapped in favour of customers needing to individually 'deposit from an external source' as from November.
Not sure if it's me or them suffering from ambiguity. Suffering probably mine as they made an unexpected ASP debit & I got charged for insufficient funds.
Oh for easy to understand bank info instead of reams of jargonistic twaddle.
under 4% and i dont use any of them, ill take the money out and spend it, enjoy it (hookers & blow) and they can get fcked… uBank, i dont mind the way its set up, even the sweep thing, $200 deposited a month for the bonus interest but as soon as i see a 3.XX im not saving any more as the real inflation is as much, so im just better off enjoying it!
Ubank interest rates dropping again? 3.77% with Ultra apparently if you sign up, although haven't received email about own account dropping yet.
https://www.ubank.com.au/savings-accounts Looks like rate drop due to RBA rate drop.
I read this article the other day. Food for thought.
http://finance.ninemsn.com.au/moneymag/latestmoneyarticles/8…