Ubank Usaver online account - 5.71% interest (including bonus interest)

Latest UBank high interest rate is 4.02% for their Transaction account with a nominated USaver including 1.06% p.a. Ultra Bonus USaver Ultra transaction account as of this writing (Nov-2014)

This post was in 2012. They now sto pthe ASPand introduce the ULTRA transaction account to get a bonus interest rate
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I've been with Ubank for some time now and so far it never disappoint me as they try to keep their interest rates competitive.


Advantage  from other online savings account:
- Can withdraw money anytime (online)
- No withdrawal limit (above 20k via phone banking)

Deposit at least $200 monthly to get the bonus interest rate.
- setup an automatic savings that debits $200 monthly to your link account every after you got your salary so you don't need to remember transferring money to Ubank account.
- Make sure there is enough fund in your link account if you are setting up ASP.


Watch out for their Term deposit as it sometimes provide higher rate that the Usaver account but at this point it is lower than the Usaver interest rate.


Maximum deposit is $200,000 per account.

- What you can do is assuming your deposit is more than that, you can create individual accout for you and your wife so that would make our limit 400k max deposit.

Website: https://www.ubank.com.au

They also provide one of the lowest mortgage loan which has a current rate of 5.62% (only for refinance)