How do I earn bonus interest?
From 1 October 2025, to earn bonus interest, you’ll need to:
- Have a Spend account, and
- Grow your combined balance across all your Save accounts by at least $1 each month (excluding any Save accounts linked as offsets at the end of the month).
Additional Information:
- Bonus interest credits do not count toward the $1 growth requirement.
- Bonus interest is paid on combined Save balances up to $1 million per customer.
- We check whether you have met the bonus interest criteria at 11.30pm Sydney time on the last day of each month. Transactions that occur after 11:30pm (Sydney time) on the last day of each month are taken into account for the following month’s eligibility.
- If a Save account is switched to an offset or closed during the month, interest will not be paid on that account for that month, even if all bonus criteria are met.
Example:
If your combined Save account balance is $10,000 at 11:30pm (Sydney time) on the last day of the month, and you earn $50 in interest, your balance by the same time next month needs to be at least $10,051 to qualify for bonus interest.
That’s because your balance must grow by at least $1 and the $50 interest you earned doesn’t count toward that growth. If your balance is below $10,051, you won’t receive bonus interest for that month.
Can I Make Withdrawals?
Yes. You can make withdrawals at any time during the month. Just ensure your combined Save balance has grown by at least $1 (excluding interest) by 11:30pm (Sydney time) on the last day of the month.
Bonus Interest Criteria Until 30 September 2025:
Before 1 October 2025, the main difference in earning bonus interest was that instead of having to grow your combined savings balance by the end of each month, you had to deposit at least $500 each month into any of your Spend, Bills, or Save accounts (transfers from other Ubank accounts didn’t count).