This was posted 3 years 5 months 22 days ago, and might be an out-dated deal.

Related
  • expired

Deposit $200/Month (Was $1000/Month) to Unlock Bonus Savings Interest Rate on Balance up to $150,000 @ 86 400

390
Deposit $200/Month (Was $1000/Month) to Unlock Bonus Savings Interest Rate on Balance up to $150,000 @ 86 400
Go to Deal
CamM on 30/06/2021 - 19:32 86400.com.au (679 clicks)
Last edited 30/06/2021 - 20:18 by 2 other users

Received this via email today -:

Earning bonus interest on your Save account is getting even easier

Yes, you read that correctly! We've always been about helping our customers earn bonus interest, not trying to catch them out with extra steps or complex rules. From 1 August 2021, we're reducing the amount you need to deposit to earn bonus interest.

Deposit just $200 a month into any of your 86 400 Pay or Save accounts and you'll earn bonus interest across all your Save accounts! You can have up to 3 Save accounts and can also save with a friend to help hit those shared savings goals.

Our Save rate remains one of the best in the market, at 1.20% p.a. including bonus.

Note: This rate is variable and subject to change. It's made up of a base rate of 0.10% p.a. and a bonus rate of 1.10% p.a. The bonus rate is paid on balances up to $50,000 per account. Interest is calculated on your Save balance daily and paid monthly.

Sure, today's interest rates are $h!t3 and there are better ways to grow your wealth, but this is not bad for very minimal effort (assuming they don't touch the interest rates anytime soon….).

Savings Account Comparison

Referral Links

Referral: random (1280)

Referrer and referee each receive $20 after referee makes 5 settled card purchases within 30 days.

Financial Bank Account Savings Account

Related Stores

ubank
ubank

closed Comments

  • Zippy7 on 30/06/2021 - 19:33
    +6

    The bonus rate is paid on a max of $50k? That's lame.

    • CamM on 30/06/2021 - 19:37
      +1

      Max $50k per account. i.e. you can have multiple "Save" accounts.

  • AdamFury on 30/06/2021 - 19:34
    +1

    Savings Accounts Comparsion

    • CamM on 30/06/2021 - 19:38
      +1

      Included that in my OP, but thanks for sharing.

    • mahdoo on 30/06/2021 - 19:43

      nvm - I see it there now..

  • langitbiru on 30/06/2021 - 19:53
    +1

    Similar tactic to UBANK, I think this happen after UBANK taken over 86400?

  • Mintee on 30/06/2021 - 19:56
    +8

    Right now, id be investing 50k into some ETF's rather then storing 50k into a 'savings account' or at least having it offset a mortgage.

    • SkoMo on 30/06/2021 - 20:13

      Any suggestions on ETF's ? I am new to it.

      • TuiTorpedo88 on 30/06/2021 - 21:02
        -1

        This is some minimum info you should understand if you want to invest in ETFs:

        https://www.fool.com/investing/how-to-invest/etfs/

      • Skinnerr on 30/06/2021 - 21:09

        Spaceship app. I've turned $3500 into nearly 5k in just under a year using spaceship alone. There is no fees under $5k and you can invest as little as you like and only pay 0.1% yearly balance fee over 5k.

        • Ghost47 on 01/07/2021 - 10:36
          +1

          Spaceship does not invest in ETFs, they invest in individual shares.

          • Skinnerr on 01/07/2021 - 19:15

            @Ghost47: Yes and thats called an index fund, the same thing as an etf.

            • Ghost47 on 02/07/2021 - 10:11
              +1

              @Skinnerr: Actually no Spaceship is more of a managed fund. I suggest you Google the differences before trying to educate others.

        • danielh on 02/07/2021 - 11:53

          I never heard of Spaceship until reading this post. The website does not explicitly say what they do with the cash we put in. Doing a bit more digging it looks like:
          - "The Spaceship Origin Portfolio is an index fund investing in listed Australian and global shares in amounts according to their market capitalisation." IE it seems to act like an non traded ETF (to be honest I have not checked to see if there is an ASX code for the Spaceship Origin portfolio but I assume not.)
          - "The Universe Portfolio offers a chance to invest in companies hand-picked by the Spaceship Voyager team." This screams managed fund to me
          - "The Spaceship Earth Portfolio, the newest kid on the block, allows you to invest in 50 of the leading companies that are not linked to high levels of pollution, animal cruelty, nuclear power, weapons, gambling, tobacco or alcohol." Managed fund to me here as well.

          Looks interesting but I can find similar publicly listed products without having to join Spaceship and lock my money there. Spaceship seems to be like a low fee baby brother to a place like Vanguard except you only have the choice of 1 EFT and 2 managed funds and cannot trade shares.

      • lawyerz on 30/06/2021 - 21:30
        +5

        Some ETFs (or LICs) for your reference.

        ASX 200 / Index
        BetaShares Australia 200 ETF (XASX:A200)
        iShares Core S&P/ASX 200 ETF (XASX:IOZ)
        SPDR S&P/ASX 200 (XASX:STW)
        Vanguard Aust Shs Idx ETF (XASX:VAS)

        LICs (Not ETFs)
        AUSTRALIAN FOUNDATION INVESTMENT COMPANY LIMITED (XASX:AFI)
        ARGO INVESTMENTS LIMITED (XASX:ARG)
        MILTON CORPORATION LTD (XASX:MLT)

        Bear Market ETFs (ETF designed to achieved the inverse of the market performance)
        BetaShares Aus Eqt Bear Hedge (XASX:BEAR)
        BetaShares Aus Eqs Str BearHdg (XASX:BBOZ)

        Special Industry/Markets
        ETFS Battery Tech&Lithium ETF (XASX:ACDC)
        VanEck Aus Banks ETF (XASX:MVB)

        Environmental / Corp Governance
        BetaShs Aus Sustainability Ld (XASX:FAIR)
        Russell Inv Aus Rspn Inv ETF (XASX:RARI)
        VanEck MSCI Aus Sstnb Eq ETF (XASX:GRNV)
        Vanguard Eth Cnsc Aus Shs ETF (XASX:VETH)

        Technology
        BetaShares S&P/ASX Aus Tch ETF (XASX:ATEC)

        Medicine
        ETFS S&P Biotech ETF (XASX:CURE)
        VanEck Glo Healthcare Ld ETF (XASX:HLTH)
        iShares Glbl Hlthcare ETF AUD (XASX:IXJ)

        International
        Morningstar Int Sh Active ETF (XASX:MSTR)
        HEARTS AND MINDS INVESTMENTS LIMITED (XASX:HM1)
        Platinum Asia (Quoted Mng Hdg) (XASX:PAXX)
        Fidelity Global EM (Mng) (XASX:FEMX)
        WCM GLOBAL GROWTH LIMITED (XASX:WQG)
        WCM Quality Gl Gth (Qt Mng Fd) (XASX:WCMQ)
        Magellan Global-Open (Managed) (XASX:MGOC)
        MAGELLAN GLOBAL UNT (XASX:MGF)
        Magellan Global Equities CcyH (XASX:MHG)
        Vanguard FTSE AsiaxJpn Sh Idx (XASX:VAE)
        iShares Asia 50 ETF AUD (XASX:IAA)
        BetaShs Asia Tech Tigers (XASX:ASIA)

        • danielh on 30/06/2021 - 23:50

          Good selection there. I've got ETFs like BetaShares Australia 200 ETF (XASX:A200) for just the long term hold and manged ETFs like:
          Betashares Australian Dividend Harvester Fund (XASX: HVST)
          Betashares Australian Top 20 Equity Yield Maximiser Fund (XASX: YMAX)
          …for the monthly/quarterly income and a bit less volatility.
          Of course I also jumped in and got normal shares like Woolworths (XASX: WOW) early this week as a hedge on Covid effects hanging around a bit longer.

          • lawyerz on 01/07/2021 - 00:04

            @danielh: thanks! added to my list :D

            • danielh on 01/07/2021 - 09:17

              @lawyerz: The 'dividends' for these just paid off so expect a drop today.

              • lawyerz on 01/07/2021 - 09:26

                @danielh: cool thanks :) not buying today, just adding to the list for future reference.

    • abc on 30/06/2021 - 20:28
      +8

      An ETF can't be compared to a savings account as it's not capital guaranteed :)

      Not saying your strategy is wrong, but it is still prudent to keep an "emergency" amount of savings in cash.

      • Tleyx on 30/06/2021 - 22:12

        Exactly 50k could be six months emergency fund

  • ph81 on 30/06/2021 - 21:01
    -6

    the banks offer absolutely nothing these days. Celsius Network offer 8.88% on TAUD. Absolute no brainer.

    • gothebroncos on 01/07/2021 - 00:25
      -1

      not sure why you got negged man - good point. Crypto offers much better returns even on stables

  • ph81 on 01/07/2021 - 03:19
    -4

    Goes to show how many people love to complain about banks but will do absolutely nothing to show banks that they are thieves. It's ok. They can have a measly 1%. I earn a minimum of 8x that amount, get paid weekly and can withdraw anytime. 😂👍

    • ph81 on 01/07/2021 - 11:45

      So many down votes. Looks like you all love to sit around and press a down vote, but won't even make an effort to check it out and see that it's legitimate. They have $15 billion dollars of assets under management (AUM) and a CEO that's created 3 unicorn startups. For people that don't understand what this is. It's a startup thats valued at over $1 Billion dollar. Alex has created 3. For the down voters, I feel sorry for your ignorance.

  • iNeedMoreMoney on 01/07/2021 - 09:43

    Ubank 0.1+1.0 ($200/m deposit)
    86400 0.1+1.1 ($200/m deposit) + $20 once off on referral signup

    • hawkeye93 on 01/07/2021 - 09:48
      +1

      Also AMP 1.25% ($250 deposit in prior month)

      • payless69 on 01/07/2021 - 17:23

        Is this real and permanent? They still try to extort me for bank fees long after the RBE!

  • payless69 on 01/07/2021 - 17:24
    +1

    Please update title to reflect the minimum 3 account mess, thanks!

    • CamM on 01/07/2021 - 17:26

      Mods already updated the title to what they felt was most appropriate.

      • payless69 on 02/07/2021 - 07:51
        +2

        MyState Bank does that (1.2%) a lot less messy and yes 250k are guaranteed!

  • WillKillfor5Cents on 03/07/2021 - 12:42

    I wonder what are the chances for Ubank to pull up thier rates to 1.20% total… One can only dream huh I suppose…

  • ForeverInBlueJeans on 16/07/2021 - 03:06

    Good bank and nice features though. Usually something new every month.

Login or Join to leave a comment
Login Join