Rating based on 21 reviews

U Bank

Updated

  • Home loans up to $2,000,000
  • Low-interest starting from 2.49%
  • Repayment up to 30 years

In-page navigation


U Bank homepage

Author U Bank. Screenshot of U Bank website. [Accessed April 12, 2018]

About U Bank

We have been taking care of our customers since 2007. We are an online lender and we’re backed by the financial strength of National Australia Bank (NAB). Our deposits are covered by the Government Guaranteed up to $250 000 per person, per institution.

Whilst we don’t have any physical branches in Australia, you may contact a representative by means of Skype, telephonically or online to discuss the home loans we have on offer. This means we have fewer costs than the traditional banks. So we pass these savings to you by offering better rates backed with real, Australian backing.

Our beliefs

UBank believes that happiness is far more important than money and that satisfaction can come from less. So we became indifferent to the unnecessary extras and aimed to be just the bank you need, it’s that plain and simple.

We have focused on taking care of our clients as well as our community since 2007 with our experienced and honest support, not to forget our easy to use banking products.

U Bank Services

UBank offer rewards for client loyalty, with us you will never be treated as just a number and we will always make you feel welcome and important plus we are completely transparent with our interest rate.

We have no hidden agendas and out rates are highly competitive, our fees are kept to the minimum across all of our products and we frequently review our online loan application processes ensuring that they are as easy and supportive as possible.

Security

  • We are here to listen and aim to resolve your query immediately and if we are not able to do so, you’ll be kept in the loop on every step of the investigation; we aim to keep our turnaround time on mortgage queries as quick as possible.
  • Should you be an existing UBank client you may contact us via the Secure Mail when logged onto Online Banking.
  • Whilst we are part of NAB, we benefit from the financial strength and global abilities it has to offer as one of Australia’s most established banks.
  • Bearing in mind that whilst we are able to discuss your information but we can’t action any transfer or update your details via this channel.

U Bank Product Details

  • Loan Type Home loans
  • Interest Rate from 2.49%
  • Loan Amount up to $2,000,000
  • Repayment 20 years to 30 years

Summary of Services

  • Affordable fixed-rate home loans
  • Apply online, it's quick and easy
  • Bad credit loans

UBank - Competitive home loan rates

Our home loan will keep you in control with our online application tracker plus variable rate loan offers and the flexibility of an unlimited number of redraws.

Enjoy our competitive home loan rates

A special offer from UBank! We are offering our customers $1 000 cash which will be paid directly your into a USaver account when applying for a Home Loan of $200 000 or more by the 6th of August 2018 or settle by the 28th of September 2018.

Bearing in mind that this excludes any amount that refers to refinancing an UBank Home Loan, it is compulsory that you have a Usaver account before settlement or until the $1000 is paid. Also, be advised that there are terms and conditions. You may refer to our website for further details.

  • UBank UHomeLoan Variable Rate – We offer a discount for Owner Occupancy with Variable P&I rate should you be borrowing $700 000 or more.
  • UBank UHomeLoan Value Offer – Low-Interest rates for home loan owner occupiers plus there are no on-going fees and you are able to enjoy our competitive flexible rates with up-front discount offers.

What are home loans available from UBank?

We offer two types of home loans to individuals that want to borrow. There is the option of a fixed rate available for one, three and five-year terms or a loan with a competitive flexible rate of interest.

  • UBank fixed rate home loan – There are no monthly service fees on our fixed rate home loans, we also offer you the ability to split your home loan and you can choose to pay the interest portion of your loan only, plus you get to choose your own payment term.
  • UBank Variable home loan - Our flexible rate home loan offers a low-interest rate on the home loan option offered from UBank. This is an attractive offer for those who would like to refinance or buy a new home. We offer a free redraw facility; it carries no on-going fees and you don’t pay an application fee.

Are you eligible to apply for an UBank home loan?

You will need to be over the age of 18 or older, never have had or committed a financial crime or been declared bankrupt or undergoing debt counselling it is necessary to be an Australian resident with an Australian residential address and you will have to earn a PAYG income from an employer as your main source of income.

Transfer money into UBank

Transfer funds from an external bank into you UBank account by using BPAY, bearing in mind that it takes 3 to 5 working days for BPAY deposits to clear and that your interest accrued will be affected from the date the funds are received.

Customer Reviews & Testimonials

Low-interest rate with flexible repayment terms.

Donovan G
— Gold Coast —

Thank you to U Bank for your great service throughout this process. I am so happy I chose to get my mortgage through you.

Sarah C
— Newcastle —

We were shocked at the level of service we received from U Bank given how affordable the fees were and how low the interest rate, we were half expecting terrible service given we got the loan at ...

Cindy N
— Sydney —

Such an easy and fast application process within a week of applying we were already in our new home! Thanks, U Bank!

Hilda W
— Canberra —

U Bank Contact Details

Contact Number

E-Mail

  • not available

Website

Physical Address

Opening Hours

  • Monday 08:00 – 20:00
  • Tuesday 08:00 – 20:00
  • Wednesday 08:00 – 20:00
  • Thursday 08:00 – 20:00
  • Friday 08:00 – 20:00
  • Saturday – Closed
  • Sunday – Closed