6% Interest. Restrictions include:
- Interest only paid that month if you deposit $50-$500/month without withdrawals that month (Max $500 deposit/month)
- Each year all your money is moved to your linked account
- Update: Linked account required. Possible options without monthly fees include: InstantSaver (requires $500 minimum balance), Hero/Zero (requires $2000 deposit/month)
Whilst UBank offers max 5.61%* without these restrictions, it is a great account for your first $6,000 in savings each year or to help you save for yearly goals (e.g. I am going to use it to save $5000 for my yearly First Home Saver account and use the other $1,000 saved for my yearly super co-contribution deposit)
Update: As mindsweepr points out. Given the difference between UBank and Regular Saver is 0.39%. This amounts to around $12/year extra based on an average balance of $3,000 (Which if you deposit $500/month is the average balance)
why -ve? Your comments seem to be empty