UBank's 0.2% savings bonus will be increased to 0.36%, effective June 1. This gives an online savings account rate of 6.21% to all customers who automatically deposit $200 or more in their accounts, and have $200,000 or less deposited. This is the highest rate offer currently available.
Referrer and referee each receive $10 after referee makes 5 settled card purchases within 30 days.
Good rate but I wish they would give the bonus for your first $200K if you have more.
Agreed re: limits. Crazy of them to not have the same rate for customers that invest more money with the bank. I thought the aim of starting uBank was to increase money invested with them to balance out the risk from other areas (loans).
NOT CURRENTLY HIGHEST!
https://www.ubank.com.au/ub/web/usaver/online-savings-compar…
I'm a Ubank man and this link shows ING has 6.25% grrrrr
The ING one is only for 4 months… .
Open up an ING direct account, get the 0.04% more for 4 months and then when the introductory rate falls by 1.35% move it back. But dont forget that for every day you have the money out of either bank you miss out on approx 0.017% interest.
Is that what you really want to do?
Correction ing has 4.85%
oops, thanks :)
Standard rate remains at 5.85% as it has for months now
Seriously odd business practice from a bank that openly drives away customers with more than 200k with this ASP BS
Agreed, they have not raised their standard rates when interest rates have gone up several times.
This ASP bonus is BS, unless dollars over $200k is less valuable than dollars below the margin…
All of the banks have different deals for over 200k. I wonder if its because a flow of 200k in or out of the bank has too much of an impact on their ledger or something.
Pity it doesn't start for two weeks.
yes and they have tricky policy now, to announce increase rate in months in advance, that way, they can avoid people to change bank whilst keep the lower interest as long as possible.
Gerd! where are you…
It's interesting to note that ANZ has shut down their 'OneDirect' online banking business- maybe Nab is going to do the same.
too late…ive gone back to bankwest but i guess i will keep it open just in case
….
I agree it's about time.
The 200K limit for bonus still bugs me though.
Well thats easily fixed… $200k in your name… more lots of $200k in partner/parents/kids names
Or if you dont trust family that much… have $200k at ubank and more at the other banks that offer almost as high a rate…
I dont like to keep all my money with 1 entity anyway.
http://www.abc.net.au/news/stories/2010/05/15/2900324.htm
NAB is giving money away too! (that they stole)
Brilliant! hurrah
Just received an email from CBA….
Go to hell Ubank/NAB (no wonder the share price is heading south)
As a valued customer, we would like to reward you with a special bonus variable rate of 6.50% p.a. on your NetBank Saver.
This bonus rate is exclusively available through your NetBank message and for a limited time only. All you need to do is simply reply to this bank message to receive this bonus rate.
I have been a CBA customer for 16 years, and haven't received any special offer such as this. Can everyone have 6.5% on their savings account? Voting negative is a little unfair as everyone can partake in UBank's offer.
Don't forget that Netbank Saver users need to link their account to a monthly fee paying CBA account. This is not the case with UBank.
I'm not a NAB fanboy (I'm not a fan of any bank). To be fair, you should mention that CBA's share price is down 9.4% over the last 30 days as well. NAB is not the only bank 'going to hell'.
Cluster, I paid $0 monthly account fee.
And you can link to stream line account with real-time access to money.
(i.e. avoid 1-2days in transfering b/w account)
Welll… NAB share has been languished around ~25-30 dollars for years
Be real Cluster… sorry
BankWest sent me a 1% off all purchases offer for my Gold credit card (no annual fees or charges). I didn't post it to OzBargain nor do I vote down other credit card postings because the offer is only available to me. It would be pointless.
NAB's share price has no effect on the bank's capacity to service customers or ability to offer attractive services. If I was investing in Big Four bank shares then yes, I would care about the performance of the respective shares. OzBargain is not a share tipping or investment site.
CBA's StreamLine account has a minimum $4 per month account keeping fee, or $6 for unlimited transactions. Only people with seniors cards, health care cards, or pensioner concession cards get the basic account without fees. That's not me, and I think it wouldn't cover most people on this site.
I just called CBA to try and get the 6.5% rate. My partner just got the e-mail offering 6.5% and I wanted it too considering I had a netbank account for just as long as he had and had more money in my account. The lady on the phone had no clue what I was talking about and called around to ask for me. She said it was a random promotion and random people received the e-mail, had nothing to do with the duration the account had been held for or the amount held in the account. >=/ She told me to try again in 2 weeks, possibly rates would be increased by then or something.
Maybe worth trying again with a different call centre person.
Oh and thanks for sharing this here.
@[Deactivated]: He didn't get a code, he just got a message saying all he had to do was reply "I want to earn 6.5%" and he would get it. The 2% bonus interest is until the end of August. He did speak to the call centre person, it's how they verfied the deal did indeed exist as she had no clue what I was talking about. She wasn't rude though, she was nice enough and tried to ring around to get it but she basically said there was nothing that could be done so that I could get it, it was a random promotion. And I mentioned at the end of the call that I would leave my money in my Ubank account in that case >=P
Cluster - Although maybe its pay back for the ubank fanboys negging every other banks 6.25% rate, which is available now, whereas Ubanks not available until June 1. AND many may miss the need to increase their regular deposit, to $200 a month by the end of this month otherwise they stay at the lower rate.
That said I think the negative vote is invalid as it doesn't meet the guidelines
Cuteduck please read -
http://www.ozbargain.com.au/wiki/help:voting_guidelines
Specifically it states…
if it's cheaper elsewhere but won't reach everyone the original deal covered, please mention this but do not vote negative for this reason
Not going to argue with you Ozpete…
But, I believe Ubank deserved a -ve vote.
I am an Ubank customer as well, but their services truly under-rated since grand opening 2 years ago.
I agree I think Ubank is going the other way - ie downhill. I still have funds there but moving them to other accounts. Will keep account open and if my other accounts revert to being lower then I will go back until I get a better offer. I will give any bank as much loyalty as the rate of interest that have with me. Thought Ubank had promise, this higher rate but wait until June, indicates they are just being a little to smart and tricky.
What I personally would like to indicate, and what is acceptable here as a bargain site are two different things. Also a little jealous of your 6.5% offer, but that might indicate that the banks are going to improve rates
I wish I can port it you :)
I have A$0.00 in my netbank saver.. could be the reason why they offer me 6.5% :-P
RaboDirect is offering 6.40% for new and existing customers. http://www.ozbargain.com.au/node/25869
Can you beat this Ubank?
If not, I might need to consider a full transfer.
yew! About freaking time I say!!