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UBank Term Deposit SMSF

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Give your retirement plans a big boost with a high interest earning term deposit for SMSFs.

The UBank Term Deposit Self-Managed Super Fund (SMSF) Account provides a short term plan for growing your retirement money. Available in a number of different terms with a fixed interest rate, you’ll have the advantage in knowing exactly how much of a return you will see. This is a secure way to boost your future savings, and make plans for how to spend it.

UBank's Green SMSF Term Deposits match your money to a portfolio of renewable projects like wind and solar energy and are available for 5 and 7 month terms.

Up to 0.65% p.a.

Interest rate

10 months interest rate

$1,000

Minimum opening deposit

$0

Account keeping fee

$2,000,000

Maximum deposit

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Details

Product NameUBank Term Deposit SMSF - DISCONTINUED
3 month interest rate0.60%
4 month interest rate0.60%
6 month interest rate0.60%
7 month interest rate0.60%
9 month interest rate0.60%
12 month interest rate0.65%
Minimum Opening Deposit$1,000
Minimum Age Requirement18
The rates displayed above are interest rates paid at maturity only. We endeavour to ensure that the information on this site is current and accurate but you should confirm any information with the product or service provider and read the information they can provide.

Important

As of August 8, 2020, this product is only available to existing customers. It is no longer available to new customers. For existing customers, variable interest rates still apply.

Review more banking products from UBank.

Key features

Monthly account keeping fees

With this term deposit you are not charged any monthly fees.

Transaction fees

There is no charge for making your transfers into and out of the account so long as you are making these transactions when the account matures.


How to apply

Eligibility

If the UBank Term Deposit is the right product to build your SMSF you can start an online application. Before being allowed to begin, you will have to confirm you are eligible by meeting these requirements:

  • Minimum age. All applicants and joint applicants must be over the age of 18 and part of a complying SMSF where the trustees are no more than two individuals or a corporate trustee with no more than two directors.
  • Residency requirements. You must be an Australian resident for tax purposes currently living at an Australian residential address.

FAQ

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4 Comments

  1. Default Gravatar
    Richard
    November 14, 2018

    How do I start to open a term deposit?

    • Avatarfinder Customer Care
      John
      November 14, 2018

      Hi Richard,

      Thank you for reaching out to finder.

      You would need to go to UBank’s website to start an online application. Before being allowed to begin, you will have to confirm you are eligible by meeting these requirements:

      Minimum age. All applicants and joint applicants must be over the age of 18 and part of a complying SMSF where the trustees are no more than two individuals or a corporate trustee with no more than two directors.
      Residency requirements. You must be an Australian resident for tax purposes currently living at an Australian residential address.
      Depository requirements. You will have a limited time to make a minimum deposit of $1,000 before the possibility of a change in the declared interest rates.

      Hope this helps!

      Cheers,
      Reggie

  2. Default Gravatar
    Mernita
    April 12, 2018

    Is there aSMSF term deposit account which pays the interest monthly

    • Default Gravatar
      Nikki
      April 12, 2018

      Hi Mernita,

      Thanks for your message and for visiting finder – the leading comparison website & general information service built to give you advice in your buying decision needs. How are you doing today?

      There are term deposit accounts paying the interest monthly.

      With a term deposit account that pays interest monthly, you have the opportunity to manage your cash flows with an influx of interest every month. A term deposit account is a short to long term investment account that allows your money to grow by accumulating interest.

      The interest is calculated daily allowing your account balance to grow faster. The length of time is predetermined by you when you make the initial deposit and can be anywhere from just a few months to as long as 10 plus years.

      For more information, you may view this page.

      Hope you find this information useful! Feel free to message us anytime should you have further questions.

      Cheers,
      Nikki

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