The Ubank High Interest Save Account is a flexible online high interest savings account that comes with a linked Spend account. You can earn up to 5.1% on your balance by transferring at least $200 per month into either account. The bonus rate is available on balances up to $250,000 per customer.
Ubank High Interest Save Account

- Maximum variable rate
- 5.10% p.a.
- Base interest rate
- 0.1%p.a.
- Minimum deposit
- $200
Our verdict
You'll earn bonus interest for making regular monthly deposits of $200, and you can make withdrawals at any time.
This account offers an ongoing bonus rate of 5.1% when you link it to a Ubank Spend transaction account and deposit $200 a month into either account.
The maximum bonus rate with this account is better than many others in the market right now, and the monthly deposit requirement is also lower than a lot of accounts. The Ubank High Interest Save has no withdrawal restrictions and there’s no monthly spending conditions to meet either, so it’s quite easy to earn the bonus interest.
The linked Spend account charges no account keeping fees, no overdrawn fees, no ATM withdrawal fees and no foreign transaction fees.
You can open multiple Save accounts, but keep in mind the bonus interest is only available on balances up to $250,000 per customer.
Pros
-
$0 Account keeping fees
-
Earn up to 5.10% p.a. on your balance
-
Can setup savings targets
-
Can connect accounts from 180+ other financial institutions
Cons
-
Must link to a ubank Spend Account to earn bonus interest
Details
Key details
Product Name | Ubank High Interest Save Account |
Maximum Variable Rate | 5.10% p.a. |
Standard Variable Rate | 0.10% p.a. |
Monthly Account Fee | $0 |
Minimum Opening Deposit | $0 |
Minimum Age | 16 |
Your reviews

Alison Finder
Editor
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Shubham Pandey Finder
October 23, 2023
Hi there,
Thank you for your question.
The up to 5% maximum variable rate for the Ubank High Interest Save Account means that you have the potential to earn a variable interest rate of up to 5% on your savings balance.
To get the full 5%, you typically need to meet certain conditions, which in the case of this account, include the following:
Linking to a Ubank Spend Account: You must link your Ubank High Interest Save Account to a Ubank Spend Account. Both accounts work together, and the linked Spend Account is where your everyday transactions take place.
Monthly Deposits: You are required to make regular monthly deposits of at least $200 into either the Ubank High Interest Save Account or the linked Ubank Spend Account.
By meeting these conditions, you can earn the full 5% variable interest rate on your savings balance.
Keep in mind that this high interest rate applies to balances up to $250,000 per customer. If you have a higher balance, the portion above $250,000 will earn the standard variable rate, which is typically lower.
I hope this helps.
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Danika Kim
September 30, 2023
Once we make 3 purchases with our ubank account do we get the $40 bonus straight away? or how long does it take to get the $40 bonus after your third purchase?

Sarah Megginson Finder
October 13, 2023
Hi Danika,
Eligible customers will receive a payment of $40 into their Spend account within a few days of fulfilling the bonus criteria.

Aly
September 26, 2023
Hi is it possible to transfer or debit money weekly?

Alison Banney Finder
September 29, 2023
Hi, yes you can set this up with the linked Spend Account (this account is automatically added when you open a savings account).

Joe
September 24, 2023
I’ve had term deposits with U Bank, do I still qualify to open saver and spend accounts and receive bonus 5% rate and Finder bonus $40?

Alison Banney Finder
September 28, 2023
Hi, customers who were previously a Ubank customer and closed their accounts within the past 12 months are not eligible for this offer.

Matt
September 14, 2023
HI Alison,
Just a question, in the details nothing was said about withdrawals, if I withdrawal money from the saver account with this effect the monthly bonus rate?

Alison Banney Finder
September 21, 2023
Hi Matt, yes you can make withdrawals at any time without affecting your bonus rate.
R
October 02, 2023
What does up to 5% maximum variable rate mean?
What are the conditions for getting the full 5%?