UBank passes on full RBA rate cut

UBank has undercut its parent, National Australia Bank, passing on the full 25 basis point cash rate cut announced by the Reserve Bank last week. NAB passed on 20 basis points.

UBank's standard variable mortgage rate falls to 5.57 per cent. Its USaver savings account rate has also been cut by 25 basis points, to 5.46 per cent (including the seventy basis point regular savings bonus).

Source: Banking Day