Rate Cut by 50 basis point to 3.75%, UBank 6 months deposit still 6.01%

I have done my term deposit, not sure when it is going to lower!

MOD: Further discussions on UBank interest rates


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Comments (Closed)

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    hmm, time for a term deposit. i'm suprised - usually the banks are way ahead with their rate drops.

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      UBank seems to only drop after the other banks do. (If others don't - they don't either.)

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    Just locked in for another 6 months….the rate will get reviewed/revised soon

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    Tempted to move some cash from ing

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    It would be best to put it in the stock market, when the RBA lowers interest rates, it spurs economic activity causing asset values to increase, when they go up too much the RBA begins raising interest rates. I would strongly advise to remove your deposits and invest them.

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      Which stock did you buy because of rate cut?

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        Thanks so much for pointing this out mate, would not have thought to lock some of my usaver money away for 6 months if you hadn't pointed this out. Now when the usaver rate goes down I won't feel so bad! Thanks again for your post.

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      I would strongly advise to remove your deposits and invest them.

      meh, part of any good diversified investment strategy would be to have some cash in the bank. if the stock market goes tits up next week you'll be able to survive.

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      The condition banks have gotten themselves into, it might be better to buy gold bars and hide them under the bed. ;-p

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      "I would strongly advise to remove your deposits and invest them."
      Hmm, currently ~400pt drop on asx200 since this comment. I'm hoping you didn't invest…

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    Maybe the banks won't lower their rates? Surely if they are lowering they would have done it by now…

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    Ubank has dropped their savings rate the full .5%, so the maximum rate now is 5.51% —- Their 6 month term deposit is still 6.01% (for now). Thanks again alwayscheaper for the original post.

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      A sure sign of what's to come.

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    6 month term deposit locked in! So Ubank have finally pulled back to the pack, leaving Rabo out front. I wonder what Rabo will do

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    And now the term deposit has dropped. Looks like we got in just in time.

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