Re-finance your homeloan with UBank at 6.39% pa - the lowest rate in Australia

Friday 4 November 2011

UBank has today announced it is cutting the standard variable rate on its online re-finance home loan by 0.20%p.a., from 6.79%p.a. to 6.59%p.a., effective Monday 14 November.

In addition, at least the next 1000 eligible new customers who apply to refinance their mortgage can get an additional 0.20% discount for the life of the loan bringing their variable rate to 6.39%p.a. The offer brings forward and doubles UBank's Loyalty Discount of 0.10%p.a., which normally applies after three years.

It costs nothing to apply for a re-finance variable UHomeLoan and customers won't be stung with any hidden account keeping, ad hoc, administration or early exit fees.

General Manager of UBank, Alex Twigg says within half an hour, home owners can calculate the potential saving on their mortgage payments and lodge an application for UHomeLoan online, at

"We're making it quick and easy to find big savings on monthly home loan repayments or to pay off your home sooner," said Alex.

UBank's USaver also offers customers the highest ongoing rate for an online savings account at 6.11%p.a. — with a standard variable rate of 5.61%p.a. plus 0.50%p.a. bonus interest if they deposit at least $200 per month.

"Customers can get such a great deal on interest rates and fees with UBank because it is online only — and has comparatively low operating costs," said Alex.

"UBank makes it quick and easy for customers to get the most out of their money, with competitive rates on deposits and a home loan that's more than 1.0%p.a. cheaper than some other offers.

"We're giving customers an alternative way to bank, that's truly anytime, anywhere — giving customers more control and helping them reach their goals sooner," he said.

UHomeLoan launched in February 2011 and was the first home loan in Australia that enabled customers to apply end-to-end online.

For more information or to apply for any UBank product online, visit Customers can also get assistance from UBank's Australian-based, 24/7 call centre, on 13 30 80 or via Skype (account:

Media contact:

Jessica Forrest
UBank (NAB Corporate Affairs)
0457 536 958 or