this post was submitted on 16 Jul 2025
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Ubank savings rate changes (www.ubank.com.au)
submitted 2 weeks ago by MHLoppy@fedia.io to c/ausfinance@aussie.zone
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Summary of changes:

  • Interest can now be earned on balances up to $1 million (up from $250,000).
  • Interest rate is now flat up to $1 million (instead of progressively lower for higher balances).*
  • Bonus interest rate activated by growing account balances by $1 (instead of by depositing $500 per month regardless of withdrawal).**

* But the interest rate has been lowered, so if you're one of those peasants who doesn't keep a cool mil in your bank account, you'll probably have a lower effective interest rate now
** this change only applies from October onwards.

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[–] Aussieiuszko@aussie.zone 2 points 2 weeks ago

Oh damn, and it was already pretty generous with the $500 min.