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UBank raises rates on savings

11/07/2012

UBank yesterday lifted its at-call savings rates and some term deposit interest rates.

UBank lifted its rate by 10 basis points to 5.01 per cent. It also lifted the bonus that applies for regular savings by 10 bps, taking it to 70 bps, and the maximum rate available on at-call deposits to 5.71 per cent.

Alex Twigg, general manager of UBank, said: “We've always provided the best rates on the market. We've always priced for loyalty. The primary driver is the best value for our customers.”

The RBA put the average rate for an online savings account at present at 3.6 per cent.

Source: Banking Day

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UBank raises rates on savings

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