PieFed
Ubank savings rate changes
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edited
MHLoppyhttps://www.ubank.com.au/savings-update
Summary of changes:
- Interest can now be earned on balances up to $1 million (up from $250,000).
- Interest rate is now flat up to $1 million (instead of progressively lower for higher balances).*
- Bonus interest rate activated by growing account balances by $1 (instead of by depositing $500 per month regardless of withdrawal).**
* But the interest rate has been lowered, so if you're one of those peasants who doesn't keep a cool mil in your bank account, you'll probably have a lower effective interest rate now
** this change only applies from October onwards.
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First ING now these guys.
On some months my savings doesn’t grow when all the large bills hit at once. This doesn’t work great for me.
Yeah I'm not a big fan of the hoop-jumping - being able to withdraw the money when needed (without losing the bulk of the interest) was a big pro of a ubank account for me but I guess not anymore 🫠
Macquarie is probably your best option then? Zero hoops 4.5% (cirrentky) and a ceiling of $2Million
http://archive.today/66aXI
Oh damn, and it was already pretty generous with the $500 min.