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Ubank jumps ahead in 1 year term deposits

04/12/2009

UBank, the online brand owned by National Australia Bank, has jacked up rates on their one year term deposit to 6.81 per cent, or 0.01 per cent above the one year term deposit rate announced by Westpac on Tuesday. The previous best rate for a one year term deposit was 6.25 from Rural Bank.

UBank Term Deposits are available for 1, 3, 6, 9 or 12 month terms and if you rollover your deposit amount (or more) at the end of your term, UBank will reward you with a 0.10% p.a. Loyalty Bonus. You can also set up a UBank Term Deposit for your Self Managed Super Fund. There are no fees and instant interest with the Turbo Deposit account opening process.

Source: UBank

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Today's Savings Rates

Institution Product Max. Rate (%) Details
USaver (Base Rate 5.41%, Bonus 0.60% with savings plan) 6.01 Details
ANZ Online Saver (6.00% p.a. until 30th June 2012) 6.00 Details
Savings Maximiser (5.85% p.a. variable intro rate for 4 months on balances up to $250,000) 5.85 Details
Citibank Online Saver (5.80% Variable intro rate for 6 months on balances up to $500k) 5.80 Details
Institution Product Max. Rate (%) Details

The above products are some of the top rates available in the market. Based on promotional or introductory rates for an online savings account of $5,000.



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