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UBANK and Term Deposits

Bill M

Self Funded Retiree
Joined
4 January 2008
Posts
2,132
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741
Just checked my UBANK statement online.

Be warned, as of today they dropped the interest rate down to 5.41% and that is including the bonus. They did not send any warning of this yet, just check your transactions list to verify.

The 6 Month Term Deposit is still 6.11%. I have a gut feeling this will be going down very soon too.

As a consequence I opened a 6 Month Term Deposit this morning, they are still the highest. I would move quickly if any of you want to lock in that 6 Month rate, not advice just a friendly reminder that rates are going down, cheers.
 
No. The Usaver rate including the bonus is still 6.01%, down slightly from the 6.11% of a week or so ago.
https://secure2.ubank.com.au/ub/web/usaver/online-savings-compare-our-rates

6 month term deposit is still 6.11% as you say.
https://secure2.ubank.com.au/ub/web/term-deposits/term-deposits-compare-our-rates
 
Hello Eager, I checked again, you are correct and now in the transactions it is showing 6.01% again.

I am absolutely sure it showed 5.41% this morning, maybe it was an error on their part and now it is rectified. Now I kind of wish I didn't do that term deposit but it might work in my favour anyway if rates drop on Tuesday.

Thanks again, 6.01% is much better than 5.41%, cheers.
 

Sounds like the French credit rating downgrade that was "accidentally leaked" before the real downgrade
 
Hello Eager, I checked again, you are correct and now in the transactions it is showing 6.01% again.
Sounds like they sorted themselves out.

The banks are still very keen for cash deposits.
 
It's 6.01% for me.

On topic of Ubank, recently it was 6.11% and their term deposits were lower than that. How does that make sense???
 
Taking about Ubank Interest . Just in case I had a problem with the amount that showing this financial year “YTD Interest Paid” . This amount was including of previous finacial year(10/11) . Ubank took a couple months to fixed it.
 
I saw that Julia, only came out a couple of days ago. Went up half a percent, what does that mean? Do they think rates are going up in the next year or so?
 
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