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  • High Interest Savings Accounts

    Get more interest on your USaver savings account when you link it to an Ultra transaction account and meet our bonus eligibility criteria.

    Earn up to

    USaver + Ultra

    1.85% p.a.

    Variable interest rate

Compare our savings accounts

*How to get 1.85% p.a. variable rate on your USaver savings account

Please note:

  • The deposit of $200 per month to your Ultra transaction account or its linked USaver savings account must be from a non-UBank account (for example your salary). 
  • When eligible, the bonus variable interest of 1.06% p.a. will be applied to balances held in your USaver savings account (and not your Ultra transaction account). 
  • If you meet the bonus rate criteria this month, you’ll earn bonus variable interest on your USaver savings account from the 1st of the following calendar month. 
  • You’ll have to keep meeting the criteria each month to remain eligible for bonus variable interest the following calendar month.

How to open a USaver + Ultra transaction account

 To open an Ultra transaction account you first need an active USaver account and have verified your identity.

Step 1 - Open a USaver

Step 1 - Open a USaver


Complete our easy online application on your computer.

Open a USaver in less than 5 mins.

Step 2 - Link an Ultra

Step 2 - Link an Ultra


iOS Users

You can now easily link an Ultra by downloading the UBank app, logging in and selecting ‘Open Ultra Transaction Account’

Open and link an Ultra via iOS App

Open and link an Ultra via iOS App.

Android and Desktop Users

  1. Log in to UBank’s Online Banking from your computer.

  2. Make sure you have an active USaver account and have verified your identity.

  3. Go to the ‘Managing’ tab, click ‘New Account’ and then click on the ‘USaver Ultra’ button.

Why UBank?

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More than 500,000 Australian customers

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More than 10,000 customers joining every month

Your money is safe

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Government Guaranteed deposits up to $250K*

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Trusted with more than $16 Billion in deposits

*The Commonwealth Government guarantee applies on deposit balances up to $250,000 per person per authorised-deposit taking institution.

We’re an Australian Bank with more than 200 local support staff

See how your money can grow


See how our rates stack up against our competitors

  • InstitutionProductMaximum Interest rate p.a.Standard Variable rate p.a.
    UBankUSaver with Ultra1.85%0.79%
    UBankUSaver Reach *1.30%1.30%
    ANZOnline Saver1.20%0.05%
    BankwestSmart eSaver0.91%0.01%
    BankwestTeleNet Saver1.70%0.05%
    BOQWebSavings Account0.01%0.01%
    CitiOnline Saver2.05%0.35%
    Commonwealth BankNetBank Saver1.05%0.05%
    INGSavings Maximiser1.80%0.10%
    Suncorp BankEveryday Options Sub-account0.10%0.10%

    Information accurate as at 6 April 2020. Source: CANSTAR

    Note: Some rates displayed may include promotional/bonus rates. Competitor rates shown are as notified to CANSTAR during the previous business day.

    Rates shown above are the nominal interest rates for amounts of $1,000. Interest is generally calculated daily and payable monthly, however, this may vary from institution to institution.

    The USaver with Ultra maximum interest rate includes the Ultra Bonus rate. To be eligible to receive the bonus rate you must first hold an USaver account & Ultra account, have deposited at least $200 to your USaver or Ultra account from an external source in the previous month and maintain a total balance of not more than $200,000 across all of your USavers / Ultra (inclusive of all joint accounts).

    * To open a USaver Reach you must be between 18 and 29 years old. Interest is only earned on amounts up to $5,000. Any amount in excess of $5,000 does not earn interest.

    The maximum interest rate of other financial institutions may include introductory rates that apply for a certain period of time and bonus rates (such as loyalty or savings bonuses) that apply after satisfying certain criteria. For terms and conditions of introductory and bonus rates, refer to each provider's websites.

    Financial data provided by Canstar Research Pty. Ltd. AFSL and Australian Credit Licence 437917. See Canstar's FSG & Credit Guide