In this guide

  • Our verdict
  • Details
    • Key details
  • Key features
  • How to apply
  • Your reviews
  • Ask an expert
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Ubank High Interest Save Account

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Ubank High Interest Save Account
Maximum variable rate
5.10% p.a.
Base interest rate
Minimum deposit

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.


  • $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


  • Must link to a ubank Spend Account to earn bonus interest

In this guide

  • Our verdict
  • Details
    • Key details
  • Key features
  • How to apply
  • Your reviews
  • Ask an expert

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.


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

Key features

Finder Exclusive: $20 CASH BONUS

Use code: FINDER20 and score $20 when you make 5 purchases in your first 30 days. Offer ends December 12, 2023.

Offer T&Cs are available on UBank's site by clicking 'Go to site'.

Backed by NAB

Ubank is an online bank that has been backed by NAB, meaning you get the small bank customer service with the backing of a big bank.

No account keeping fees

You will not be charged any monthly fees with this account.

How to apply

You can apply by starting an online application. There are certain eligibility requirements that you will have to meet and documents you'll need to provide before ubank can approve your application.


  • Minimum age. You have to be over the age of 16 in order to qualify for opening this account.
  • Residency requirements. Australian residents for tax purposes are welcome to apply provided that you have a verifiable Australian residential address. If you are a United States Citizen or taxpayer you will be asked to provide additional information such as your tax identification number (TIN).

Your reviews

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October 02, 2023

What does up to 5% maximum variable rate mean?

What are the conditions for getting the full 5%?


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.



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).



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.



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.

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