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Jul 30, 2025

Up Introduces New Grow & Flow Interest Rate System

Melbourne, Australia – July 30, 2025 – Up, Australia’s highest rated banking app*, today announced a change to its interest payment structure with the introduction of Grow & Flow. This system is designed to empower customers to grow their savings faster while simultaneously earning interest on their everyday spending.

Grow & Flow introduces a flexible dual-rate system for eligible Up Savers:

  • Grow Rate (4.85%): A higher variable interest rate will be applied to Savers (up to a combined balance of $250K) where no withdrawals or spending occur during the month - ideal for accelerating progress towards larger savings goals like a home deposit or travel.
  • Flow Rate (1.50%): A separate variable interest rate will be applied to Savers from which withdrawals or money movements occur, ensuring customers continue to earn interest even on funds used for daily expenses such as groceries, bills, and rent.

"We’ve taken customer feedback onboard to create Grow & Flow - a system that, alongside tools like Locked Savers, Hidden Savers, Round Ups, and Savers Spend Limits, helps Upsiders smash their savings goals," says Xavier Shay, Up CEO and Bendigo Bank CDO. "This initiative reflects our commitment to helping Australians improve their relationship with money by delivering innovative solutions that simplify the way they manage it, so they can amplify the life they want to live."

Changes will be effective for all Up customers from 1 September 2025.

*Highest rated banking app as at 30 June 2025

Life’s better on the Upside

Up acknowledges the Wurundjeri Woi-wurrung and Bunurong Boon Wurrung people of the Eastern Kulin Nation as the traditional custodians of the land where we build and create. We recognise their deep creative connection to Country, and want to continue this notion of play and knowledge sharing. Aboriginal and Torres Strait Islander sovereignty was never ceded, this continent always was and always will be Aboriginal land.

We Pay The Rent

Up is a brand of Bendigo and Adelaide Bank Limited, ABN 11 068 049 178, AFSL and Australian Credit Licence 237879. Any advice provided on this website is of a general nature only and does not take into account your personal needs, objectives and financial circumstances. You should consider whether it is appropriate for your situation. Registered address: The Bendigo Centre, Bath Lane, Bendigo, Vic, 3550.