ubank Interest Rates Drop: 4.85% on Balance up to $100,000, 4.40% for Remaining Balance up to $250,000

AkuroPlays on 23/05/2025 - 16:50
Last edited 23/05/2025 - 19:21 by 2 other users

Hi.

We wanted to let you know we'll be making changes to your Bonus Interest Savings rates.

Starting from 27 May 2025, you can earn up to 4.85% p.a. for total balances between $0 - $100K, and 4.40% p.a. for total balances between $100K - $250K. That means, if you have a total savings balance of $250K, your overall blended rate would be 4.58% p.a.*

The good news? Earning this interest is still easy. Just deposit $500 into your Spend, Save, or Bills account before 11:30pm on the last day of each month, and you're all set to earn that bonus interest.
Saving made simple with the Ubank app
Your Ubank app comes with smart money tools that make it easy to track spending, budget your money, and set savings goals - so you can stay in control of your finances and reach your goals faster.

We really appreciate you saving with us.

Speak soon,
Team Ubank

*When calculating the blended rate we have assumed 31 days in the month, 365 days in the year, and daily balances have remained exact throughout the 31 days. We have assumed you have met the bonus interest criteria.

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Comments

  • Hugh G Rection on 23/05/2025 - 17:08

    dang it, i joined when it was 5.5

    time to move on, where can i dump my savings now?

    • Guybrush57 on 23/05/2025 - 17:09
      +13

      Probably nobody because all banks will be reducing their interest rates too in light of the RBA cut.

      • Hugh G Rection on 23/05/2025 - 17:11
        +1

        dang it again, i guess im staying with ubank then :(

    • bdl on 23/05/2025 - 17:38

      if you have an ex-citibank NAB saving account, their adjusted rate is now 5% - one deposit a month, no withdrawals (https://www.nab.com.au/personal/bank-accounts/savings-accoun…)

      at call, ubank is still highest

    • Grassy21 on 25/05/2025 - 22:25

      I joined when they were at 2%. They're still the best and easiest as far as I'm concerned.

  • KangaDrew on 23/05/2025 - 17:18
    +1

    Interesting how they've brought the date forward to 27/05. Normally, they change the rates from the 1st of each month.

    • hsc21 on 28/05/2025 - 15:59

      Is there a typo in the spreadsheet? ANZ Plus going from 4.75% to 3.5% seems dramatic. Then again, it's a bank 🤣

  • Drakesy on 23/05/2025 - 17:41

    Oh herro ETF's where have you been the past 4 years.

    Going to dive head first back into VAS, VDHG & VGS.

    Gotta love that dividend and organic stock appreciation.
    Just gotta ride the orange Trump volatility.

    • plmko on 23/05/2025 - 19:10
      +3

      Absolutely no way you would buy now. Not at least until late June.

      • Drakesy on 23/05/2025 - 19:14
        +1

        Yeah going to clear just before July when trump shows his cards round 2

      • Banks on 24/05/2025 - 17:24

        Yeah, it is very risky at the moment.

        Even the usual strategy of buying once the central banks drop interest rates is not working out, with most people underwater due to Trump.

        I am currently waiting to see if tariffs come back which I believe they will due to the overall tone of the US wanting to set the rates unilaterally.

        Trump literally put on a show with a few allies and there are no real trade deals going on at all. It's all a charade and it is hard to tell if this really is the "Art of the Deal" which is what their supporters keep saying it is. If you do follow the Trump camp's social media profiles and their allies you can see some extra hints on what is going to happen next. I'm almost certain the tariffs are coming back.

        Trump is more interested in his legacy, because remember this is his last term. He has nothing to lose.

        The Japanese debt crisis is the more important upcoming crisis. Their own PM said they were worse than Greece. Literally!

        • Techie4066 on 25/05/2025 - 15:24

          Trump is more interested in his legacy

          What legacy lol, cruelty, depravity, delusion and derangement is all he'll be remembered for by any moral person with a grip on reality

  • Ocker on 23/05/2025 - 18:30
    +1

    Gee !!! what a surprise!

  • cashless on 23/05/2025 - 20:11
    +5

    You think that’s bad?
    Rabobank have dropped rates on their Premium Saver by 0.30%, more than the RBA cut

  • soan papdi on 23/05/2025 - 20:35
    +1

    Do we need one post each time a bank drops their interest rate?

    • snappy1234 on 24/05/2025 - 07:35
      +3

      Scroll on by if you don't care, I for one like this info.

      • topherboi on 24/05/2025 - 09:37

        The update was already posted in the existing Ubank thread prior to this.

        • KangaDrew on 24/05/2025 - 12:29

          Which would only be made known to existing thread subscribers (and to those using the search function), no?

          didn't neg you BTW

          • topherboi on 24/05/2025 - 18:56
            +1

            @KangaDrew: New comments bump the thread up to the top of the sub-forum, so everyone can see the updates.

            • KangaDrew on 24/05/2025 - 19:46

              @topherboi: That makes sense. Although, the issue with that other thread is the title. Mods would need to rename it as a megathread and then merge new posts into it.

  • jimmyjamesjimmy on 26/05/2025 - 12:16

    Am I wrong, but is "ING Savings Maximiser + Orange Everyday" now the best option to go for?

    • topherboi on 27/05/2025 - 08:01
      +2

      They offer the best (highest) interest rate, however their eligibility critieria is complex compared to others.

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