Ubank jumps ahead in 1 year term deposits

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