Our savings rates are changing. From 1 March 2025, you can earn up to 5.25% p.a. bonus interest on combined savings from $0 up to $100K and then 4.75% p.a. bonus interest on any combined savings between $100K up to $250K.
ubank Savings Account 5.25% p.a. Interest on Balance up to $100,000 ($500 Monthly Deposit Required) @ ubank
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Comments
Not exactly "stealth drops" if they advertise it and it is happening with most banks….
Don't get how this is a deal?
ME bank didn't provide notice.
An interest rate drop is not a deal.
A 0.25% drop in the cash rate is functioning exactly as intended: a 0.25% incentive for borrowing money, and a 0.25% disincentive for saving money.
Your issue is?
@pennypincher98: Nothing? You mentioned stealth drops so I explained.
If it's competitive then it's a deal in my opinion, and I think ubank will be competitive.
why is this a deal?
Because I just bought 10.
Thanks op
Reductions in savings interest are deals?
This is just the start, more rates in the months to come until elections
Wouldn't bank on it.
Yeah this isn't a deal, it's a downgrade. I'm with ubank and they're changing from 5% regular interest and 5.5% bonus interest…
This is bad news, certainly not something to post as a deal.
Consider it a PSA.
PSAs can go in forums.
This is an interest rate reduction notice, not a deal.
I think the OP mistakenly posted this notice as a deal instead of a forum thread.
No, I posted it as a deal on purpose.
Might still be a deal, if most other banks offer a lower rate (we assume almost all banks will cut their deposit rates by 25bp, if they haven't already).
At least ubank are waiting till the end of the month to make the change!Most banks are cutting rates in March btw…
Belongs in forums.
Rate went down. No deal here.
Should be forum
Yea not a deal sad face
forum post masquerading as a long term "deal"
not good enoughA decrease is not a deal.
Less savings interest income, not a deal
Losing interest on my savings is the opposite of a deal…
Not a deal
An interest rate drop is not a deal.
it shouldn't even be in the forum.
Is the Op in the Ubank marketing team? only they would try to spin this a s a deal.
…so time to buy Microsoft?
It's happening. ME bank already did a stealth drop, now we wait for the competition (ING in particular).