UBank USaver Reach high interest savings account

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Young Australians can invest their savings wisely with the UBank USaver Reach account.

The UBank USaver Reach is designed to help Australian students and apprentices manage their savings while focusing on their studying. This is a high interest rate account that charges no fees and can be linked with another Australian bank account or a transaction account with UBank. UBank operates entirely online, using a business relationship with NAB to help secure your funds and provide you access to the same products and benefits you get with standard banks.

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Details

Product NameUBank USaver Reach - DISCONTINUED
Maximum Variable Rate0.7% p.a.
Standard Variable Rate0.70%
Monthly Account Fee$0
Minimum Opening Deposit$0
Minimum Age18

Important

As of May 9, 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

Account keeping fees

There are no monthly charges for keeping your savings in this account.

Interest rate

This is a high interest savings account, with no terms to meet or restrictions on how you long you have to keep your money invested.


How to apply

If you have decided that the USaver Reach is the savings account to help you get through your university years you can apply online by visiting their website. Before starting on the application check to see if you are able to meet the eligibility requirements:

Eligibility

  • Minimum age. This account is only available for Australians between the ages of 18 and 29.
  • Residency requirements. All Australian residents for tax purposes are eligible to apply so long as you have an Australian residential address. If you are a citizen of the United States or taxpayer you will also need to provide you tax identification number (TIN) or social security number (SSN).

Expert review

Shirley Liu

Review by


Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.

Expert review

To be eligible for this account you need to be 18 - 29 years old.

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