UBANK and Term Deposits

[Bill M]

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.

 

[Eager]

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

 

[Bill M]

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.

 

[skc]

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

 

[drsmith]

5.41% for cash is below par.

http://www.anz.com/aus/promo/accoun...13&s_kwcid=TC|21228|ANZ saver||S|b|8539691837

Ubank are currently offering 6.01% as their maximum rate.

http://www.ubank.com.au/ub/web/usaver/online-savings-compare-our-rates

Anyone changed to 5.41% should contact them and sort them out, or withdraw their money if they don't come to the party.

 

[drsmith]

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.

 

[Tyler Durden]

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???

 

[McLovin]

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???

Inverted yield curve; interest rates are going down.

 

[blue0810]

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.

 

[Julia]

Rabodirect are offering 6.5% for five years.

 

[Bill M]

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?

 

[blue0810]

Soon will be available fixed income ETFs on the ASX

 

[Bill M]

From who Bluey? Betashares?

 

[blue0810]

From who Bluey? Betashares?

The Big ones:

-Ishares
-State Street Global Advisors (SSgA)
-Vanguard

I hope PIMCO join to the party.

 

[Bill M]

Thanks mate, I will keep my eyes on it.