UBANK score $100 and 5.85% interest

[tinkybelle]

NEW TO UBANK?
use my code 54MTVXZ for $100 cash back once you put CASH in and do 5 transactions in the first month plus 5.85 % interest for the first 4 months thanks huge
I also get a $100 referral
Hey Want to see your money clearly? Give Ubank a go and we could both score cash. Pop this code 54MTVXZ in when you sign up and make 5 eligible card transactions in 30 days. Get the app and see the offer terms from the app store or the Ubank website (18+ only).
WWW.ubank.com.au

SAVINGS INTEREST DONE BETTER​

5.85
P.A.
Welcome Bonus Rate for up to 4 months. Offer terms and Bonus Rate Criteria applies.

 

[CaptainPersia]

Thanks for sharing your code, here is mine YRTP6QG when you sign up and make 5 eligible card transactions in 30 days.

 

[Brissy1]

Good rate but bear in mind, on my reading,

- in the month you withdraw all funds, you get zero interest for that portion of the month
- if you make a partial withdrawal which results in a lower balance at the end of the month then at the beginning, then you get zero interest on your entire funds for the whole of that month.
So while it can be a high interest at call account, it can give poor interest, 0%, unless you carefully manage withdrawals, eg withdraw entire balance on the first of the month.

 

[I love to travel]

That is

Good rate but bear in mind, on my reading,

- in the month you withdraw all funds, you get zero interest for that portion of the month
- if you make a partial withdrawal which results in a lower balance at the end of the month then at the beginning, then you get zero interest on your entire funds for the whole of that month.
So while it can be a high interest at call account, it can give poor interest, 0%, unless you carefully manage withdrawals, eg withdraw entire balance on the first of the month.

Agreed and that is what I would do - first of the month so that also means to maximise the 4 month bonus rate- deposit at the first of the month too

 

[tinkybelle]

Correct you need to have at least $1 more after interest so I move money to saver on last day of month then move it back on 1st making sure I have $1 more
Also it’s 6% for first 4 mths