5.3% HISA 4 month intro rate
rable rable ubank, ing
put in money make more money, no requirements just sign up
Savings Account 5.3% p.a. Interest for 4 Months on Deposits up to $250,000 (New Customers Only) @ Macquarie Bank
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How does Ubank work with respect to getting the bonus interest. It say you need to deposit $200. Can you just transfer it in then out to be eligible?
Can't withdraw to get it
Not true. You can withdraw from UBank after depositing $200 and still get the bonus interest
U bank terms and coditions state you need to deposit $200+ per month to activate the bonus interest and you can make withdrwals at anytime without affecting bonus rate.
"Want bonus interest on all your Save accounts?
All you need to do is have a Spend account and deposit $200+ per month into any Spend or Save accounts (not including internal transfers) to get the bonus interest rate. Easy.Take money out at any time without affecting your bonus rate."
Anyone knows if Ubank still has that $50k per account cap to qualify for the bonus interest rates?
@jecec: They did away with that a while back. Now:
Get bonus interest on a combined balance of up to $250K across all your Save accounts.
yup, in and out will do the trick
That doesn't make much sense.
If it was a longer term, you would be worse off in a rising interest rate environment.5.3% is a great rate compared to the rest. Only Neg for me is it's macquarie…
Its great rate only for 4 month during the honeymoon period..
what is wrong with Macquarie?
Looks like they kept their ongoing rate at 4.25% p.a.
Cheeky.
The ongoing interest rate customers earn on both their savings and everyday transaction accounts will also increase by 0.25% p.a. to 4.50% p.a., on balances up to $250,000 - effective 23 June, 2023.
https://www.macquarie.com.au/help/personal/home-loans/manage…Good to hear, but they lagging badly behind ANZ+ and Ubank rate.
I however use them for International transaction (no fees) and they also have discounted gift cards.
Same. You have to cherry pick with multiple banks to maximise benefits.
Did this one about 4 months ago and it was all super easy, good rate, no hoops. Bonus rate is finished now but oh well, easy run it was
Yes I essentially did the same, if they just increased their base/normal rate to 5% I would've stayed for the convenience (I'm not gonna change accounts every few months for 0.2-0.4%) but they are usually slow to put those rates up.
U bank at least only requires $200 deposit each month and when you need to use some of those savings to buy something you don't lose a whole months interest just for withdrawing. Ubank also seems to be pretty good at increasing rates whenever cash rates go up although usually from the 1st of the following month not instantly.
Those were the main reasons I moved personally.
Love to hear if anyone else has found a better option that doesn't require $2k monthly deposits, no withdrawals &/or 5+ card transactions just to get the decent rates?
Going to open account. Do I need to be careful about anything before opening. I assume this 4 month starts the day it's activated. Am I right? Or month end balance?
Thanks.
Get an account just to access the gift card marketplace. Park some money there earning interest and buy gift cards instantly.
I've been holding off getting a macquarie savings account… I do have a transaction account… Does the interest rate rise look likely to stop now?
No. More to come
The transaction account has the same interest rate as the saver account. Why not just use the transaction account?
I haven't used the 4 months intro rate yet
Thanks OP, great deal. Signed up. more $$$ for me each month!
Spare a penny for us poor mortgage holders?
Someone should start a business where people with savings can offset mortgage holders so both can benefit (savers with better rates, mortgage holders with lower rates & the business could take a small %) Obviously the mortgage holders would need to have a decent amount of secured equity (let's say 20% but possibly less) to remove risk for the savers but I think it would be a good business and would certainly put pressure on banks to offer better rates or risk losing both customers.
If you close your Macquarie Transaction and Savings account, then open new ones, can you qualify for this deal again? I'm going to close my account.
ok do that and let us know how you go.. but 99% sure you wont get that rate.
No you can't, I can't remember the wording but they specifically exclude anyone who's previously held an account it was either in the last 5 years or didn't have any time limit (I've taken up a few different offers so can't remember specifics about Macquarie)
Ah I see, thank you for the information!!
I closed my account in March. I just opened a new one. It made me use a different email, but the interest details page shows 5.3% on the first 250k, so seems it worked.
Does anyone know if any there are any banks without balance limits? 250k is way to low for me.
Open a few accounts at different banks.
Err… I’d need to open more than is reasonable.
Macquarie bank has 250k limit on saving account to get the max rate, then slightly lower rate till 1mil. Same apply for transaction account.
Otherwise I am happy to accept your deposit and match their rate, how many mil are you looking at :)You also want to keep to the max of 250k because that is the maximum of the Govt guarantee. But Citi's limit for bonuses is 500k but their rates have been low, 4.75% ATM.
I just closed my account and moved to Ubank. These intro rates while enticing are just annoying unless the base rate makes it worth sticking around after imo.