BankMate

Savings account · 16+ years

Up Saver

5.60%p.a. total

2.00% base + 3.60% bonus when the conditions are met

12th of 151 savings accounts · market average 4.37%

Go to UpCompare with another account

The RBA raised the cash rate to 4.60% on 30 September. Up Saver moved on 8 October, 8 days later.

What the bonus asks

2 things each month
Each month
  1. 5 card purchases
  2. No withdrawals
A month without them

Pays the 2.00% base rate on the whole balance.

Who can open it

Anyone 16 or over

Balance

The bonus is paid on balances up to $250,000.

Compare all 151 accounts

Rate history

Last change 8 Oct
  • Up Saver
  • RBA cash rate
  • Market average
4.004.505.005.50MarMayJulSepToday5.60% p.a. today

October 20261 change

  1. 8Thu
    • 5.35 → 5.60Bonus rate 3.35% → 3.60% · 8 days after the RBA rise to 4.60%
      +0.25

September 20261 change

  1. 19Sat
    • Base and bonus changed, total still 5.35Base 0.00% → 2.00%, bonus 5.35% → 3.35%
      Same total

May 20261 change

  1. 22Fri
    • 5.10 → 5.35Bonus rate 5.10% → 5.35% · 16 days after the RBA rise to 4.35%
      +0.25

April 20261 change

  1. 1Wed
    • 4.85 → 5.10Bonus rate 4.85% → 5.10% · 14 days after the RBA rise to 4.10%
      +0.25

March 20261 change

  1. 26Thu
    • Base and bonus changed, total still 4.85Base 4.85% → 0.00%, bonus 0.00% → 4.85%
      Same total

  1. #4FebFeb 2026: ranked 4 of 42
  2. #7MarMar 2026: ranked 7 of 64
  3. #9AprApr 2026: ranked 9 of 76
  4. #5MayMay 2026: ranked 5 of 79
  5. #7JunJune 2026: ranked 7 of 79
  6. #8JulJuly 2026: ranked 8 of 80
  7. #8AugAug 2026: ranked 8 of 80
  8. #13SepSep 2026: ranked 13 of 120
  9. #11OctOct 2026: ranked 11 of 150
  10. #12NowNov 2026: ranked 12 of 151
  • Top 5%
  • Top 10%
  • Top 25%
  • Top half
  • Lower half

In the top 10% for 7 of the last 10 months. Never below the top 25%.

A year meeting the conditions
$2,800
A year without meeting the conditions
$1,000
Against the average (4.37%)
+$616

On a $50,000 balance. Type yours above; it's kept with your savings preferences.

Up to $250k5.60%
$250k+2.00%

Up Saver with Grow & Flow — Grow Rate applies to Savers with no withdrawals during the month. Flow Rate applies above $250K or to Savers you spend from. Requires 5 card purchases per month.

Notes from savers

to leave a note.

Often compared with: ubank Save account

Other Up accounts: Up Essentials Saver 2.00%

Pays 5.60% p.a. total (2.00% base plus 3.60% bonus) as of 1 November 2026. Ranks 12th of 151 savings accounts tracked by BankMate, 1.23 points above the average of 4.37%. The rate last rose on 8 October 2026, 8 days after the RBA raised the cash rate to 4.60%. From Up's Consumer Data Right feed, refreshed nightly. Compare savings accounts ·