Good news for you and your savings! From 1 December 2023, you could be earning up to 5.10% p.a. 🚀
It’s easy for you to earn more on your savings
To get the bonus interest rate on your Save account all you need to do is have a Spend account and deposit at least $200 per month into any Spend or Save accounts (not including internal transfers). Simple.
Your new bonus rate is 5.00% p.a. and is paid on balances up to $250K per customer on top of the 0.10% p.a. base rate.
Referrer and referee each receive $20 after referee makes 5 settled card purchases within 30 days.
How do they calculate the bonus ? I am new and haven't figured it out.
Example : if I have 50k balance , and make a deposit $200 on 15th day.
And if I withdraw $1000 ( general expenses) on 20th, I wont lose the bonus right ?
It's confusing to understand. , 😔
if you make a deposit you get the bonus interest for the whole month as long as the $200 deposit is made in that month.
no penalty for withdrawing with ubank.
You will still get the bonus. The only requirement is to deposit 200 which you are fulfilling. Growing your balance is not a requirement.
As long as you deposit $200 once a month, it doesn't matter how many withdrawals you make and how much you withdraw.
Interest is calculated daily, and paid monthly.
So as long as you deposit at least $200 during the month you'll qualify for the bonus amount for the whole month.
You don't have to leave the $200 in there and can withdraw as much as you want. But as it is calculated daily, obviously any day with less money in there will earn less interest on those days.
The only criterai is to make a $200 deposit each month.
Day of month doesnt matter.
You can transfer in $200 one day then transfer it out the next day.
Very simple dude, read the other comments. Just set up a $200/mth auto deposit is my advice tho and it's sorted, it's the only real condition
Made a deposit of $200 one month about 12:05am AEST on the first day of a month and wasnt paid the bonus interest .. was told all their systems are on adelaide time so -30mins !
Had to raise a complaint but finally got paid
Hisa are great if saving for a home deposit in a less than five year time frame.
Have a plan when they drop down to 2.5 percent.
greedy… that's how they make record profit!
Time to move to St George MAxisaver for 3 month rate
Holy crap. This is higher than the mortgage interest rate….
Who are you with to get a variable mortgage rate below 5.1% at the moment?
CBA. 4.84%
I call every 3 months and hassle them to reduce it.
This is the OZB way.
What's the total balance of the loan(s)? I'm wondering if you've got a huge balance and can negotiate a lower rate?
On Wednesday (8/11), NAB was the first of the big four lenders to say it would pass on the full increase to its standard variable home loan customers from November 17, meaning its lowest advertised mortgage rate will climb from 6.59 per cent to 6.84 per cent a year."
NAB reported an 8.8 per cent jump in cash profits to $7.7 billion for the 2023 financial year
8%+ rates coming for everyone very soon and the banks will own everyone's homes, the Australian dream
Yeah mate I'm currently building my van and survival kit, got seeds and the lot ready to leave. Slowly trying to get used to the lifestyle by eventually permanently moving into it. With the current housing market it's probably a smart financial choice as well so if I turn out to be wrong I'm still in a better off position then I would be by playing their game with the current housing market. Anyone else feeling the struggle I highly suggest you look into everything in the above comment and if you can still sit there and say it's all hocus pocus then nothing will help you.
Oh shut up you tinfoil hat, just get on your knees and go downtown to the Masonic temple and give your sacrifice to your overlords, beg for forgiveness : )
I love my zombie stralia, so media consumed and shaped, driven, have no idea what's in front of their noses and pass by such things daily and nothing in the head passes ever just wind…. Can you heart it?
@drazenm: Bro you're probably quadruple jabbed with chemicals that have melted into your brain which makes you actively support a regime that will affect your families lives for generations to come. Bravo to you sir.
@lookingforadeal7: Lol. Which country are you moving to fella?
Don't know about hocus pocus but by any reasoned analysis it's all puerile, irrational, hyperbolic, conspiracy theory nonsense.
@glyptothek: Why you miss 5G, wind farm infrasound, Bill Gates, and the Clinton elite child sex ring bro?
@Igaf: It might be rude to assume you have the ability to read something comprehensive because you clearly haven't thus far but we'll give it a go
https://unesdoc.unesco.org/ark:/48223/pf0000367762
Quite hard to find the relative information but they do publicly tell you exactly what they're going to do to you if you care enough to look. One search of "Agenda 2030 WEF" on Google should tell you more than enough that you've fallen for the propaganda machine as you scroll through results and multiple articles and factcheckers only presenting one notion "no they are wrong" whilst all the info to prove it's not conspiracy is literally on their website.
@lookingforadeal7: That document is about scenarios and choices, all of which are both debatable and can be completely ignored by any nation on the planet. The notion that any tiny entity like UNESCO could "do" anything like you suggest is preposterous rubbish..
@Igaf: Two negs but no replies? I understand that reason and rationality to you CTs is like garlic to a vampire but surely at least one of you can offer something slightly more credible than the tosh you've rolled out to date?
@glyptothek: Only the sheeple? Who hacked them (us) and apart from your multi-million dollar money back guarantee how do we know they've been "hacked"?
Seriously though, you do understand the concept (and value) of discussion papers on what the future may hold and how humans might respond? Very much doubt many of them have been particularly accurate or that any country has placed great credence in most of the ideas because it's a rare human trait to seriously look beyond the immediate "here and now" (+- 20 years). That's why we're playing catchup wrt legislating against the promotion and dissemination of lies, hacking, scamming and putting controls and safeguards around AI to name but a few areas our "leaders" hqve failed to act on - let alone understand.
Thanks for doing the groundwork and worrying for the vast majority of us though.
@glyptothek: Didn't wake some up to what exactly? Human inanity? That humans make occasional judgemental errors (like not mandating masks early enough and allowing irresponsible eejuts access to aged care homes or example), esp when faced with desperate situations? In the real world we understand both already and we try to learn from them while simultaneously trying to limit REAL damage to individuals and societies in general.
@Igaf: You are maybe one of the biggest shills I've ever seen and I lived in Victoria for 3 years so thats saying something
@lookingforadeal7: Odd, given you don't know me any more than you know reality, but not unexpected given the mentality of your demographic.
Having trouble answering simple questions? Goes with the territory in my experience.
I'm fascinated though. As you go about your everyday life enjoying the massive benefits of a relatively free, law abiding and cohesive society, how do you rationalise that against your conspiracy theory ideologies?
ARUP, a corporation "of designers, consultants and experts dedicated to sustainable development" having offices in major cities? Gosh what's the world coming to? How has it affected your life or freedom? What evidence do you have that there's something sinister going on, and what EXACTLY is that sinister thing?
It seems you haven't read or even perused the paper you linked to. Alternatively you don't have even a basic understanding of the purpose of discussion papers (there are tens of thousands produced across the world every year at every level of govt and business), and obviously you understand nothing about how the UN works.
Next question - which is far simpler. What chemicals have you been jabbed with (and taken orally) throughout your life? Presumably you, like the vast majority of us in the privileged western world, had responsible parents who ensured you were vaccinated against a range of diseases which over the centuries have killed and debilitated millions of kids?
@Igaf: I'll just wait for the "I told you so" moment, it's more gratifying. like when everyone thought the government didn't have enough control and would never lock people in their homes and enforce mandates and coerce and incentivise a medical decision which is highly illegal. Neive to think after all of that they won't ever take your home or property to. Also a pandemic is no excuse, let those who want to risk it risk it and all the people who don't want to can stay locked up and behind in life instead? It's like when you punish the whole class because the one kid didn't do his homework. You were literally treated like a child by your government yet you not only enjoy but support having their boots down your throat? Weird.
@lookingforadeal7: You'll be waiting a very long time pal, possibly long enough for you to acquire some maturity, knowledge and understanding of why ordered societies are a great thing.
Everyone thought there'd be no lockdowns? In what world was that? We'd (well maybe not you and other navel gazers) already had the luxury of seeing the carnage and overrun health systems overseas and the lockdowns imposed in many countries as public health measures, and we were later advised that temporary lockdowns were a possibility here if people did the wrong thing, and hospitals and health systems were overloaded, especially before large scale vaccination - which we achieved no thanks to your ilk - occurred.
Your notion of society as a bunch of individuals with no connection and no responsibility for each other is no surprise at all. It has, from the start, been the most common trait of those with your attitude both here and in the USA in particular, and it was partly why mandates of all types became necessary. In short, your demographic's myopic lack of concern for others was one of the reasons the virus spread and economic shutdowns were longer than should have been needed (along with Morrison's incompetence). No doubt you would have availed yourself of community funded and resourced systems had you needed them though. And no doubt you will in the future at some point.
Not willing to share your experiences with the vaccines you've received and the oral chemicals you've taken in your lifetime? Lol. Again, it's par for the course for the demographic, as is not answering quite simple questions about your specific concerns. Those traits are all publicly documented, by experts and also by the "sheeple" who've bothered to interact with antivaxxers, "sovereign citizens" and those afflicted by CT disease. Ironic that you'd comment about a topic you know sfa about while telling others that covid vaccines have - what was it - melted into their brains?
None of this explains your love affair with clearly inane conspiracy theories though, so what gives there?
@Igaf: I mean before COVID people had been saying governments had that control for a long long time and it happened, we are now telling you that's just the beginning and in time it will happen again, it becomes easier to justify when it's already happening and the media is telling you what to think.
@lookingforadeal7: Pffft. Don't judge others by your own low standards. I don't know who's feeding you the CT bullshit or why you're swallowing it without rational thought, but plenty of people in your society are doing their own thinking based on evidence, knowledge, experience, common sense and the ability to sort the bs from reality. That demographic isn't exclusive, it's free to anyone, just takes some effort to get informed and not be blinded by ideology, self-interest or coat tuggers.
@Igaf: Also I can assure you that any vaccines or oral chemicals I've had in my lifetime had much longer development and peer review then the COVID vax did, completely different
@lookingforadeal7: Fair enough concern - initially. Authorities and those of us who bothered to get and remain informed during the pandemic already had reliable evidence of their efficacy overseas. By the time most of us in Australia got our first dose we also knew the risks of the first AZ vaccine (the one Morrison urged us to get while he and his mates got Pfizer) to one particular demographic. Vax policy was science based - risks of the vax V risk of C-19 and the huge effects of the public health system, including staff and those unable to access important services due to the overload.
Shopback will be a thing of the past unless you are an elite in on the WEF/UN/BIS/IMF/WHO scam
HOLY SH1T, armageddon is coming
Perfect time to buy when desperados sell. To win, others have to lose. This is the only way.
BOOM!
I'd rather buy more US Treasury. 5.44% for 3 months.
where is a good and cost effective place you buy them from?
Charles Schwab, IB, etc. No commissions.
Yeh everyone is dumping them like hotcakes, including CCP
Yeah, thanks to the strength of USD.
Is this a joke? If not, then you are subject to:
- Currency risk.
- No access to the money.
- Administration of re-investing every 3 months.
For an extra 0.34%….
Currency risk indeed exists, but AUD being a commodity currency has only one direction from here considering the global risks.
You can always sell the bond at any time. If yield continues to go up, US Treasury will then outperform Ubank even more by renewing. If yield drops, then you win simply by selling.
Not sure where you got 0.34% from.
Sounds like an epic headfu$k to earn 0.34% more.. i guess some people have boring lives
@Gavman: It's 0.44% to be precise - until next month and who knows what the bond yield will be then.
$1mil at 0.44% gives an extra $4,400 of almost risk free money and reduce exposure to a risky currency like the AUD. No upper limit either.
Epic headfu$k? Some people should get out of the cave more.
That one only for the BIG BOYS unfortunately
Banks are really dragging their feet this time round in passing any of the 0.25% onto savings accounts, and after making billions in profits. They seem to pass the full rate increase onto home loans pretty quickly though.
welcome to capitalism (for the poor) and socialism (for the rich)
It always amuses me the way (especially those with commerce/business degrees) people bash socialism and lionize capitalism. Socialism is great; it means the people in power are actively looking after your interests. Capitalism means nobody cares about you; you have to fend for yourself; if you cannot pay the exorbitant greedflated prices for everything, you are condemned to misery.
I don't know if I would make claims as to one being objectively better than the other because human behaviour ultimately affects both negatively, but I also find it amusing and ironic. Socialism is why the rate went up 0.1%, capitalism is why it didn't go the full 0.25%.
socialism actively makes people poorer
As always
UBank is slow to pass on the rate rise, but they're also slow to pass on the rise to mortgage customers (4 December).
However UBank should be criticized for giving savers 10 points while charging mortgage customers a full 25.
I blame ING for not passing on anything.. if they pulled finger out of their bums perhaps Ubank would up the ante
Ing ? Rabbo has 5.75 introductory rate but didn't lift their term deposits.
Getting 5.5% at move bank. Can't complain.
Really?
Its limited to balances of just $25K.
Minimum deposit of $200 per month and no withdrawals
You will reach $25K in no time with your $200 deposits
or you will need to make a withdrawal sooner rather than later
Then what?
Hardly worth going to the trouble
How is this a deal when other banks are 0.50 to 0.75 higher?
they are intro rates. this is standard rate. it is one of, if not highest rate once you have been with all the other ones, hence its a deal.
No its NOT THE STANDARD RATE!!!!!!!!!!!!!
The standard (base) rate is 0.10%.
Bonus rate of 5% is added when $200 is deposited
and it only applies to thier SAVE account. Not the SPEND account.
And their VISA debit card works off thier SPEND account.
therein lies the problem with Ubank
Pls get your facts right
They probably should have said "ongoing" as it's not a time-limited introductory rate.
And while the debit card is linked to the transaction account, you can set up all your direct debits, bill payments, etc, from the savings account. I just keep $100 in the transaction account for incidentals and transfer bigger amounts using the app if required.
I don't think I've seen any bank that has a base rate of anything higher than 0.1%. It's pretty (profanity) to be honest.
@Ghost47: It's 20 >= 1% vs 30 < 1% for all that have a base rate - "approx" half.
And if we include all greater than 0.10%, which was what you said you hadn't seen, it's 28 > 0.1% and 22 <= 0.1%.
Not saying i like this bonus rate crap vs a flat rate, but its pretty easy to get a base rate of a few % if you want to sacrifice a bit of the bonus rate.
The mods need to start removing deal negs when they don’t meet required conditions for neg voting
I just negged your comment, u mad?
Which banks are 0.5% let alone 0.75% higher?
The highest current rate is 5.5% and it requires a lot of hurdles. In fact, every bank paying more than 5.1% requires hurdles over and above a monthly deposit amount eg cannot reduce balance, must do 5 transactions a month, must give 32 days notice to withdraw.
must do 5 transactions a month -
Pretty easy with bpay,
but yes personally 4.9% at anz for doing nothing seems better.
I know 200 a month is easy, but its still another task
Just setup an automated monthly $200 transfer, easy as, no need to do anything
@Mokr: First and second sentences don't follow.
The $200 is ALWAYS available to use. The req't is simply for you to temporarily "loan" that amount to Ubk each month. Once it appears there you can do anything you want with it.
If you can't manage a once off interest-earning payment of $200 (that's essentially what it is, assuming you recycle it every month) then the Macbank transaction account with class leading 4.75% interest and no conditions may be a better option.
As always read the T&Cs before signing up to any account.
Google Recurring payment.. you can actually get a banking system to make the deposit for you on a schedule so you dont have to remembr WOW mind blown.. lol schooled
100% correct!
100% correct!
100% correct!
100% correct!
100% correct!
ubank only requires a minimum deposit of $200 per month, period.
Other banks will have spending requirements, no-withdrawal requirements, only valid for a limited promotional period, or any combination of those.
The additional hoops for only 0.5% are the deal killer. Failing to meet the requirements in a single month means you'll be making the same or less than with ubank in a given year.
exact the point. Ubank is so easy to get that bonus interest rate.
yes, but to use Ubank effectively you must have a SPEND account and keep sufficent funds in that account as its the only one that works with thier VISA debit card
And you earn NIL interest on funds sitting in the SPEND account.
This is where Macquarie Bank is far better, especially for smaller balances which many OBs have.
You can keep ALL your funds in Macquarie's Every day TRANSACTION account and earn 4.75% with no conditions attached.
And you get to use their Platinum Mastercard debit card which is great for both local and overseas trips.
Sufficient SPEND funds could be as low as $0.00 depending on your needs and how you operate your accounts. Ubank's card is also "great" for local and OS use.
No need to gild the lily. All these accounts have pros and cons. What suits some people won't suit others. If you want to maximise returns you have to work for it via qualifying criteria, chasing intro offers, moving your money around, and doing some fiddling when you reach the max threshold. If you want to set and forget and still get a "decent" return then there are a few options, as comments on these deals regularly show. Personal choice.
Woohoo! My savings gets to devalue slightly slower!! (Fiat money sucks)
Put all your money in crypto and spin the wheel on what its value will be tomorrow.
funny you say that lol. 50% of my savings was put into BTC back in 2021. I legit think it's going to prove a better store of value then money in the bank. The conviction is high enough that I put all my super into BTC (via SMSF) a few months back when it hit its low for this cycle. Yeah, I know what you all thinking, shaking your heads…
PS. DYOR & Not financial advice.
Shame it's only up to $25k
*$250k
St George still rules on MaxiSaver for 3 months
and then what?
Not really
Terrible rate after that.
Total waste of time
Rather than just expressing your disappointment here you can also provide feedback/complaint to ubank.
A complaint is more likely to put pressure on them for full increases. The banks probably live in their own bubble thinking the public love them and they can do no wrong.
large transfer in and cannot get your money out. Good luck.
Okay, I'll bite. Why can't you get your money out?
They may be referring to the fact that you need to call them if you want to transfer more than $20K in a day? Not exactly, "cannot get your money out" though…
@The Maestro
Sorry to hear that but it is not islated to Ubank my friend.
Like "dazweeja" above Personally I found Ubank EXCELLENT!
Just disappointing when they drag thier heels on rate increases