ubank Save account (Shared) Summary
Description
Save account
Benefits
- Introductory rate of 6.25% p.a. for 4 months for eligible customers.
- No monthly savings-account fee.
Hoops
- Applicants must be at least 16.
- For bonus interest, grow the balance by at least $1 each month. Check the full requirements below.
- Ongoing rate cap: $2,000,000. See the rate breakdown for higher balances.
- The introductory offer is temporary, lasting 4 months. The ongoing rate then applies.
On this page
Details
Key details
| Product name | ubank Save account (Shared) |
|---|---|
| Maximum variable rate | 6.25% p.a. (Introductory, first 4 months, Save account) |
| Ongoing interest rate | 5.35% p.a. |
| Base interest rate | 0.00% p.a. |
| Minimum age | 16 years |
Source: noren.com.au
All comparison details
| Base | 0.00% |
|---|---|
| Ongoing | 5.35% |
| Ongoing cap | $2M |
| Intro | 6.25% |
| Intro cap | $2M |
| Intro period | 4 mths |
| Dep/mth | 0 |
| Dep $/mth | - |
| Growth/mth | $1 |
| Buys/mth | 0 |
| Txns/mth | - |
| W/d/mth | - |
| Min age | 16 |
| Max age | - |
| Fee/mth | $0 |
Source: noren.com.au
Rates & features
Interest rates
Variable rates % p.a. at $699, assuming applicable bonus conditions are met.
- Base: 0.00% p.a., before bonus interest.
- Ongoing: 5.35% p.a. when bonus conditions are met. Up to $2m.
- Introductory: 6.25% p.a. for 4 months for eligible customers. Up to $2m.
Full rate breakdown
| Type | Rate | Applies to | Balance |
|---|---|---|---|
| Base rate component | 0.00% | Whole balance | All balances |
| Ongoing total, conditions met | 5.35% | This band only | First $2m |
| Ongoing total, conditions met | 0.00% | This band only | Over $2m |
| Introductory total, first 4 months | 6.25% | This band only | First $2m |
| Introductory total, first 4 months | 0.00% | This band only | Over $2m |
Source: noren.com.au
Share/Export
This band only: the rate applies to the money within the listed balance range. Other portions earn their own rates.
Requirements
- Both holders meet the customer-level Spend-account and $1 combined eligible-savings growth criteria. Shared transactions count regardless of which holder makes them, interest credits are excluded. Qualification is checked at 11:30pm Sydney time on month end.
- Comparison assumes one Shared Save account and no other eligible individual/Shared savings consuming either holder’s allowance. Each customer is attributed 50% of this account, and qualifying interest is paid on the full Shared balance. The $1m customer allowance therefore covers $2m of this isolated Shared balance, excess portions earn nil.
- Shared balances receive allocation priority ahead of individual accounts, multiple Shared accounts, other balances, different Welcome cohorts or remaining periods require the customer’s actual allocation. Offset-linked/closed accounts do not earn savings interest.
- No monthly account-keeping fee under the current Ubank Fees and Limits schedule.
- Qualification timing: Requirements are assessed in the current month. Check the settlement deadlines and exclusions in the requirements.
Fees
- Monthly account fee: $0
Showing reviewed fees only, other charges may apply
How to apply
Check these eligibility requirements before applying with ubank.
- Age 16 or over.
- Individual applicants only
- an Australian citizen or permanent resident with an Australian residential address
- Two eligible Ubank customers are required. Welcome pricing is restricted to the applicable current cohort, this is not a simulation of an existing household’s other savings.
Introductory eligibility
- The applicable Welcome holder must have joined on or after 9 October 2026 and still be within their four-month Welcome period.
- If only one holder is eligible, use that holder’s Welcome rate/end date. If both are eligible, use the holder who joined first. Earlier cohorts are not assigned the current Welcome margin.
- Four months starts when the applicable customer joins Ubank, not when this Shared account opens, an existing holder can have less than four months remaining.
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Sources & review
Noren aggregates information from multiple primary sources to ensure you're getting the most up-to-date, accurate information. All product information is peer reviewed.
Collected on 31 Oct 2026. Pricing verified on 28 Oct 2026.