Ubank Save has a new 5.10% p.a. bonus rate: Here’s how to get it
Ubank has gone against the trend and increased its maximum bonus interest rate to a market-leading 5.10% p.a., but there's a catch.
From today, the Ubank Save account now offers a welcome bonus rate of 5.10% p.a. - up from its previous 5.00% p.a. rate.
This welcome rate is available for the first 4 months, then it will revert to the ongoing variable bonus rate of 4.35% p.a.
How to get Ubank's 5.10% p.a. bonus rate
There are a few great things about this rate, the first being that it's the highest in the market right now.
It's also available on really large balances, up to $1 million.
However, there are a few catches to be aware of too.
This welcome rate is only available to new customers who haven't held a Ubank Save account in the past 24 months (so if you're already a Ubank customer, sorry, you can't get it!).
It's also only available on accounts opened from 11 November 2025 (so if you just opened a Ubank Save account, sorry, you don't get it either).
Also, unlike most other introductory bonus rates in the market, there are monthly conditions to meet to qualify for it.
You need to hold a Ubank Spend account and grow your Ubank Save balance each month to qualify.
This means that you're kind of restricted from making withdrawals from the account (you can take money out, but you need to replace it plus at least $1 more by the end of the month).
Although if you don't plan to make withdrawals, these are simple conditions to meet.
Don't want to jump through any hoops?
Check out these savings accounts with no conditions to meet.
How does Ubank Save compare?
While Ubank's new 5.10% p.a. welcome rate is the highest in the market, it's only available for 4 months.
Its ongoing variable bonus rate of 4.35% p.a. is lower than other's in the makret - but again, it's available on balances up to $1 million and has minimal conditions to meet.
Here are a few other options if Ubank Save isn't right for you.
1. ING Savings Maximiser
You can earn an ongoing, variable bonus rate of 4.80% p.a. on balances up to $100,000. To earn this rate each month you need to deposit $1,000, grow your balance and make 5 transactions from your ING bank account.
2. Macquarie Savings Account
You can earn a welcome bonus rate of 4.60% p.a. on balances up to $250,000, followed by an ongoing variable rate of 4.25% p.a. on balances up to $2 million with no conditions to meet.
3. Westpac Life
If you're ages 18-34, you can earn an ongoing variable bonus rate of 5.00% p.a. on balances up to $30,000. You need to hold a Westpac Choice account, make 20 eligible transactions per month and grow your balance each month.
4. AMP Go Save
You can earn an ongoing variabe rate of 4.25% p.a. on balances up to $250,000 with no conditions to meet.
5. Bank of Queensalnd Future Saver
If you're aged 14 to 35 you can earn an ongoing, variable bonus rate of 4.85% p.a. on balances up to $50,000. To earn this rate you need to deposit $1,000 per month and make 5 transactions per month from the BoQ bank account.
Ask a question