▲ 4 r/ubank
How does ubank's savings rate actually compare to the other high interest savings accounts in the Australian market once you account for the conditions that need to be met each month and is the headline rate genuinely achievable for most people without changing their behaviour significantly?
The bonus interest conditions that most Australian digital banks attach to their headline savings rate vary enough in what they actually require that the comparison between accounts based on the advertised rate doesn't always reflect the rate most customers actually receive. Would love to know how people here who use ubank as their primary savings vehicle think about whether the conditions are genuinely easy to meet consistently or whether there are months where the requirements create friction that affects the effective return they're actually getting on their money.
u/OwlVibesOnly — 4 days ago