Our savings rates are changing. From 1 April 2025, you can earn up to 5.10% p.a. bonus interest on combined savings from $0 up to $100K and then 4.65% p.a. bonus interest on any combined savings between $100K up to $250K.
All you need to do is deposit $500 a month into one of your Ubank accounts, and you’ll earn up to 5.10% p.a. on your savings.
Time to start looking at competitors. They've been good for quite some time but all good things must come to an end.
They are still one of the lowest fuss/condition for the highest interest rate.
Macq bank is a close second.
It is still below par to ING, and the higher rate matters most.
Besides it is not OzLazy… it is OzBargain.
I've been with them for a few years. I hate that you have to jump through hoops to get bonus interest rate. Plus that you can't transfer your money straight out of the higher interest account. I've been looking around for a while for a new bank
Title is a bit incorrect - should be 5.10% for up to $100k not $50k
my apologies, you are correct. i think i have the new rates right now
@MS Paint
Snakes send emails?
I'm running ubank up to $100k and Rabobank for everything else.
This'll be the last straw, i'll start settling them into ETF's if it continues.
Isn't Rabobank only around 4% though? Or do you mean you have it for more than just a HISA?
Rabobank - 5.10% premium saver up t0 $250,000, i think i am just going to settle for 4.90% at St George who also do up to $250,000
as @Qazxswec said Rabobank premium saver at 5.1% is the key, don't go for the high interest saver with it's intro rate.
i suspect rabobank will drop rates again soon
ETFs are risky while there is an orange ape running the White House.
We moved our 100k+ to ME Bank, so far so good.
Isnt ME bank 5%?
Yeah looks like it's down to 5.0%, Still better than Ubank 100k+ rate. Will wait till 1st April to see which bank shakes out the best.
Zero to UBank and all in offset
Thanks for the reminder to get my account under $100k.
I have an opportunity for your consideration, I have connections to a supplier of magic beans
Benefits of not having $100k is you don't have to do anything in this scenario.
The first 100k would be with ING.
Ing is still at 5.4%. note even if you did the song and dance in first month, you will only get the interest next month.
Don’t like the grow balance criteria with ING. Some months I have to spend more on Rego etc.
If they removed the grow balance criteria they would get a lot more customers
Yes, ing works best as just a saving accoun.
Maybe they don't want more customers
You know 99% of all your spendings per annum, and especially your Rego. Can you opt opt pay monthly?
Perhaps you just need to learn to better manage and budget. And use a second Account to move funds around, to stay on top of the simple Rules.
It’s not the only thing mate. Rego, strata, rates.
Lot to manage for little gain with ING. I was considering it but if it takes me too much time to manage it’s not worth it. But happy if others keep with ING as it keeps others competitive
The race to the bottom is GO !!!!
It means "We don't need your money".