UBank named Australia’s best online bank
Since its inception in 2008, UBank has made a name for itself with its competitive rates and innovative approach to banking. And it continues to impress, winning the title of Australia’s Best Online Bank at the 2021 Mozo Experts Choice Awards.
This year, our team of judges evaluated 89 different Australian financial institutions to determine which offered the best value for money across the widest range of products. Among online banks, UBank clearly stood out.
Not only was it recognized for its range of mortgage loans, but we were also won over by its daily banking products, including a savings account that consistently ranks among the best value offers on the market.
Although UBank does not have branches, its local support teams are on hand to assist you, whether online or over the phone. And the overhead savings are then passed on to customers in the form of more generous rates.
Its exclusively online presence has also given UBank a reputation for innovation, particularly in the savings accounts it offers and in its streamlined online application processes.
And like all banks in Australia, funds held with UBank are protected by the Financial Claims Scheme – a government initiative that guarantees deposits of up to $ 250,000 per customer in the event of bank failure, credit union or building society.
So whether you are looking to refinance your home loan or are looking for a more generous interest rate on your savings account, UBank is worth a look. We’ve included a selection of notable products below.
- 1.85% pa 3 years fixed (2.24% pa comparison rate *)
- Free additional refunds up to $ 20,000 per year
- Competitive rates for a range of fixed durations
The UHomeLoan (Fixed) allows you to choose between durations of 1, 3 or 5 years, with interest rates starting from 1.75% pa (comparison rate of 2.31% pa *). You will be able to borrow between $ 100,000 and $ 2,000,000, and the usual set-up fee of $ 395 will be waived if you pay off your loan by September 30, 2022. Although you can make additional repayments, an annual limit of 20 $ 000 applies and there is no possibility to redraw.
UHomeLoan Discount Offer
- 2.34% pa variable rate (2.34% pa comparison rate *)
- Free additional refunds and possibility of withdrawal
- No upfront or ongoing costs
The UHomeLoan rebate offer comes with a variable rate of 2.34% per annum (compare rate of 2.34% per annum *), and with no upfront or ongoing charges, you’ll be able to spend all of your hard-earned money on repayment of your loan. You can also make additional refunds without penalty, and if you ever want to get those funds back, a withdrawal feature is available. This year, the UHomeLoan discount offer received two Mozo Experts Choice Awards for Best Low Cost Home Loan and Best Split Home Loan.
^ See information on the Mozo Experts Choice Bank Account Awards
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