Savings account

Up Essentials Saver

Current savings rate from Up. Compare the ongoing rate, bonus conditions, introductory offers, and eligibility in one place.

Up Essentials Saver

View on bank website ↗ 16+

5.35% p.a.

ongoing rate

Rate breakdown

Base rate: 5.35%

How to earn it

No conditions

Rate current since 22 May 2026.

What to know

This page focuses on the ongoing rate: 5.35% p.a. That is the rate after any honeymoon period ends.

This account is effectively a no-hoops saver: there are no bonus conditions recorded for the current rate.

Eligibility: minimum age 16 .

About Up

Up is an Australian digital bank operating entirely through the Up app, built on Bendigo Bank's banking licence. It offers two savings accounts: the Up Saver, which pays a competitive rate when monthly conditions are met, and the Up Essentials Saver, which pays the same competitive rate with no conditions at all.

The Up Saver earns its bonus rate when you make 5 or more settled card purchases from your linked Up Everyday Account each month and make no withdrawals from the Saver during the month. There is no minimum deposit requirement and no balance cap. Importantly, if conditions are not met the Up Saver earns 0% — there is no base rate to fall back on, which makes the conditions meaningfully stricter than most banks.

The Up Essentials Saver pays a competitive ongoing rate with no monthly conditions — no deposit requirements, no card purchase counts, no withdrawal restrictions. There is no balance cap. It is one of the few accounts in the market paying a rate comparable to conditional accounts with no strings attached.

Both accounts require the Up app and a linked Up Everyday transaction account. Up is covered by the Financial Claims Scheme up to $250,000 per account holder per ADI via its Bendigo Bank banking licence.

Compare more accounts

No-conditions accounts

Earn the full rate without monthly hoops

Accounts above 5%

Every account currently paying 5.00% p.a. or more

Large balance accounts

Accounts with bonus rate caps above $100k

The information on this page is general in nature and does not constitute financial advice. Rates are subject to change — verify directly with the provider before making a financial decision.

Up Essentials Saver