These rates are effective from 1 February 2019.
Up Saver variable interest rate is made up of a base rate of 0.75% p.a. and a bonus rate of 2.00% p.a. (both subject to change).
The Up Savers bonus rate is available to Up customers performing five or more successful card purchases per calendar month. Qualifying card purchases consist of successful purchases made using your Up debit card, Apple Pay™, Google Pay™ and other digital wallets. Unfortunately, this does not include ATM transactions.
Up customers that meet the qualification criteria will receive an interest rate of 2.75% p.a. on the combined balance of all of their Up Saver accounts up to $50,000. The base rate alone will apply to combined Saver balances above $50,000.
If the monthly qualifying criteria is not met, only the base rate of 0.75% p.a. will apply to the combined balance of all Up Saver accounts for that calendar month.
The Up Saver interest rate described above will apply to all Up customers who join Up on and from 1 February 2019.
Up Saver accounts of those customers who joined Up earlier than 1 February 2019 are entitled to Up’s 2.75% p.a. introductory rate for four months from their joining date. Once the four month period expires, the Up Saver interest rate in effect from 1 February 2019 will apply to these Up Saver accounts (subject to the terms and conditions outlined above).
Interest on Up Savers is calculated daily and paid monthly.
