If you’re a keen saver who loves the convenience of mobile banking, then you might want to check out the Saver Account from the Aussie neobank Up. The account allows you earn a competitive interest rate with no account fees, plus there's several super useful app features which can help you build up your savings stash such as round-ups and payment splitting.
With Up, you don't need to have separate savings accounts. You can have muliple savers for different savings goals and as long as you meet the standard criteria each month, you'll earn the bonus rate on all balances.
Banking has never looked more modern and easy than with the Up Saver Account which features a special rate of 4.35% for balances between $0 - $1,000,000 when you make five successful card purchases each month through the linked Up Everyday Account. Just keep in mind that if you don't meet this condition, there's no base rate, so you won't earn any interest on your balance.
The Up Saver Account comes with a number useful perks. The first being that you can set up different savers within the app and all will earn the bonus rate as long as you meet the monthly criteria. This is super handy if you have short and long term savings goals as it makes then easier to track and manage.
If you like the idea of building up your savings without having to actively manage your accounts, there's also the optional roundup feature. Every time you make a purchase with the linked transaction account, the App will automatically round it up to the nearest whole dollar before transferring the difference to your linked Saver Account.
You can also take advantage of the split payments feature. You might have different long and short term savings goals so this feature will split your regular savings payments across the savers in whatever percentage you like.
If you are often tempted by impulse buying, there's even a block feature within the App which will block access to the account for 3 hours (just long enough for you to think things through) - but you can also nominate a 'mate' who has keys to the account and can unlock it for you if needed.
If you are thinking of opening a Up Saver Account, just bear in mind that there is no branch or phone access and customers can only access the account through the iOS or Android app.
For Aussie savers who like to keep everything they do through their mobile, then the Up Saver Account is a top pick, especially if they can meet the monthly account conditions and make use of the handy tools and features.
The Up Saver Account can only be accessed through the iOS or Android app, so if you prefer to bank with providers that allow you to walk into a branch or use a desktop platform, then you may want to consider other accounts.
Balances from $0: 0.00% p.a. |
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Balances from $0: 4.35% p.a. |
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Make 5 or more successful card purchases per calendar month using your Up debit card and digital wallets (ATM transactions excluded). |
$0.00 |
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n/a |
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Unlimited free transactions from mobile app. |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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$0.00 |
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n/a |
$0.00 |
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$0.00 |
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Monthly |
no |
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n/a |
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no |
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no |
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no |
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no |
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no |
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no |
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yes |
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no |
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no |
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Bank and saving account only accessible through iOS or Android app. |
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Optional roundup feature automatically rounds purchase to the nearest whole dollar and transfers difference to linked Saver Account. Maybuy feature creates savings schedules for items by sharing links with the Up app. |
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none |
I love this bank because I can categorise my spending and able to find out how much I’ve spent within my fortnightly salary. I love the creativity, art and the friendliness of staff. I absolutely love Saver UP $1000. That savings account is mine for Christmas presents to my family!
Read full reviewI love this bank because I can categorise my spending and able to find out how much I’ve spent within my fortnightly salary. I love the creativity, art and the friendliness of staff. I absolutely love Saver UP $1000. That savings account is mine for Christmas presents to my family!
I adore UP Bank. The user friendly app and option for multiple savings accounts is helpful to sort out your finances. Not a con for me but possibly for others is that there is no physical branch. I have contacted UP customer service previously and had a helpful response via email within two hours.
Read full reviewI adore UP Bank. The user friendly app and option for multiple savings accounts is helpful to sort out your finances. Not a con for me but possibly for others is that there is no physical branch. I have contacted UP customer service previously and had a helpful response via email within two hours.
I absolutely love that I have the chance of winning a free coffee EVERY SINGLE DAY just by purchasing my morning coffee. Such a nice gesture just for banking with Up.
Read full reviewI absolutely love that I have the chance of winning a free coffee EVERY SINGLE DAY just by purchasing my morning coffee. Such a nice gesture just for banking with Up.
The sign-up process is simple and easy, making it very convenient to open an account. The platform offers interactive and unique saving features, including round-ups that allow you to choose rates while automatically rounding up each transaction to the nearest dollar and putting the difference into savings. This makes it an effortless way to save without noticing. In no time, you will have a few hundred dollars in your savings account without any effort at all. Additionally, the platform offers interactive and customizable options for accounts, including the ability to have separate savers for specific goals, adding emojis, and naming them. This feature makes saving money less like a chore and more fun. Alongside that, the platform also offers saving challenges that you can participate in to help you reach your goals.
Read full reviewThe sign-up process is simple and easy, making it very convenient to open an account. The platform offers interactive and unique saving features, including round-ups that allow you to choose rates while automatically rounding up each transaction to the nearest dollar and putting the difference into savings. This makes it an effortless way to save without noticing. In no time, you will have a few hundred dollars in your savings account without any effort at all. Additionally, the platform offers interactive and customizable options for accounts, including the ability to have separate savers for specific goals, adding emojis, and naming them. This feature makes saving money less like a chore and more fun. Alongside that, the platform also offers saving challenges that you can participate in to help you reach your goals.
I absolutely love this bank, the only downfall is that there is no bank to physically walk into. Aside from that its the best ever
Read full reviewI absolutely love this bank, the only downfall is that there is no bank to physically walk into. Aside from that its the best ever
Savings Account
5.35% p.a. (for $0 to $250,000)
4.75% p.a.(for $0 to $1,000,000)
Yes up to $250,000
Bonus Saver
5.00% p.a. (for $0 and over)
1.00% p.a.(for $0 and over)
Yes up to $250,000
PremiumSaver
5.35% p.a. (for $0 to $250,001)
1.45% p.a.(for $0 and over)
Yes up to $250,000
Savings Maximiser
5.50% p.a. (for $0 to $100,000)
0.55% p.a.(for $0 and over)
Yes up to $250,000
Savings Accelerator
3.55% p.a. (for $0 to $50,000)
2.85% p.a.(for $0 to $50,000)
Yes up to $250,000
Life - 18-29 years old
5.20% p.a. (for $0 to $30,000)
1.85% p.a.(for $0 and over)
Yes up to $250,000
Bonus Saver Account
5.00% p.a. (for $0 to $250,000)
0.05% p.a.(for $0 and over)
Yes up to $250,000
Savings Account
5.35% p.a. (for $0 to $250,000)
Yes up to $250,000
4.75% p.a.(for $0 to $1,000,000)
Bonus Saver
5.00% p.a. (for $0 and over)
Yes up to $250,000
1.00% p.a.(for $0 and over)
PremiumSaver
5.35% p.a. (for $0 to $250,001)
Yes up to $250,000
1.45% p.a.(for $0 and over)
Savings Maximiser
5.50% p.a. (for $0 to $100,000)
Yes up to $250,000
0.55% p.a.(for $0 and over)
Bonus Saver Account
5.00% p.a. (for $0 to $250,000)
Yes up to $250,000
0.05% p.a.(for $0 and over)
Life - 18-29 years old
5.20% p.a. (for $0 to $30,000)
Yes up to $250,000
1.85% p.a.(for $0 and over)
Savings Accelerator
3.55% p.a. (for $0 to $50,000)
Yes up to $250,000
2.85% p.a.(for $0 to $50,000)