Better savings interest rates
All great improvements to the USpend and USaver accounts. Just need to consistently match total (std plus bonus) interest rates of competitors to attract deposits from those who rely on interest earnings for an income.
On the first Tue of each month the Reserve Bank announces the cash rate but each bank determines what their rates are for their mortgage, credit card and deposit products. Other banks like ME Bank are offering 1.8% (20/6/20) on their savings accounts as opposed to 1.6% by UBank. Just chasing the best deal with the best t&c’s.
Hi , thank you for sending this suggestion. We’re always looking at enhancing our customers experience and have now lodged this with the team.
If you have any further suggestions or ideas, please let us know. All the best. ^Adi
It will have to do with the RBA. If the Royal Bank reduces cash rates then the banks will reduce the interest rate too. Up, Volt and Xinja have all reduced theirs as well.