UBank updates Save account to 5.60%
UBank has increased the rate on its Save account savings account by 25 basis points to 5.60% p.a., from a previous rate of 5.35%.
UBank
Save account
New Rate
5.60%
Illustrative Example
For illustrative purposes, a $10,000 deposit at 5.60% would earn approximately $560 per year in interest. That is $25 more per year compared to the previous rate.
Market Context
This rate of 5.60% is above the current market average of 4.63% across 67 tracked savings account products. This is among the highest rates currently tracked in this category.
Notes
ubank welcome rate rises to 5.60% p.a. for 4 months from 24 March 2026 for new customers who have not held a ubank-branded product in the previous 24 months. The ongoing Everyday Bonus rate rises to 4.85% p.a. from 4.60% on balances up to $1 million, while the base rate remains 0%.
⚠️ General information only
This comparison is for informational purposes only and does not constitute financial advice. Always verify current rates and eligibility directly with the provider before making decisions. Consider whether products are appropriate for your circumstances.