No, we currently offer UBank term deposits to existing self managed super funds only.

If you are interested in establishing a self managed super fund for yourself we suggest you contact an accountant or solicitor or start by reviewing information on the ATO website

To open a UBank Term Deposit for Self Managed Super Fund, you need to have:

• A complying SMSF where;
  • the trustees are two individuals
  • there is a corporate trustee with a maximum of two directors. UBank Term Deposits are not available for funds with more than two directors.
  
  
• A minimum of $10,000 to deposit
  
  
• An Australian bank account in the same name as the fund or trustee/s of the fund, into which we can transfer your money and interest.

Take your pick from fixed terms of 1, 3, 6, 9, 12 or 24 months.

You've got two options:

• Online at ubank.com.au
• Over the phone by calling 13 30 80 anytime

To verify the details of your self managed super fund we require:

• a certified copy of the trust deed of your SMSF
• a certified copy of such part of your trust deed (such as the schedule), that verifies;
  • the name of the trust,
  • who the trustees and members of the funds are.

Certification is to be completed by authorised members of the community who can certify your documents. See the question below for more information on who this can be.

We also need to verify your chosen account linked to your term deposit. To do this we require

• a copy of a bank statement in the name of your self managed super fund or the trustee/s of the fund, OR
• a print out of an online transaction summary that show the account name and number in the name of your self managed super fund or the trustee/s of the fund.

People qualified to certify true copies of original documents are known as 'Persons of Standing' in the community, and include:

• A person who is enrolled on the roll of the Supreme Court of a State or Territory, or the High Court of Australia, as a legal practitioner (however described).
• A judge of a court.
• A magistrate.
• A chief executive officer of a Commonwealth court.
• A registrar or deputy registrar of a court.
• A Justice of the Peace.
• A notary public (for the purposes of the Statutory Declaration Regulations 1993).
• A police officer.
• An agent of the Australian Postal Corporation who is in charge of an office supplying postal services to the public.
• A permanent employee of the Australian Postal Corporation with 2 or more years of continuous service who is employed in an office supplying postal services to the public.
• An Australian consular officer or an Australian diplomatic officer (within the meaning of the Consular Fees Act 1955).
• An officer with 2 or more continuous years of service with one or more financial institutions (for the purposes of the Statutory Declaration Regulations 1993).
• A finance company officer with 2 or more continuous years of service with one or more finance companies (for the purposes of the Statutory Declaration Regulations 1993).
• An officer with, or authorised representative of, a holder of an Australian Financial Services Licence, having 2 or more continuous years of service with one or more licensees.
• A member of the Institute of Chartered Accountants in Australia, CPA Australia or the National Institute of Accountants with 2 or more years of continuous membership.

When you apply, we need you to tell us certain personal information about yourself and your self managed super fund. This includes, but isn't restricted to, the following:

• Details of the trustees and beneficiaries or your fund.
• Your driver's licence number (if applicable).
• An Australian phone number (either a landline or a mobile phone number).
• The details of the bank account you wish to link to your term deposit.
• Your Tax File Number or Exemption Code for tax purposes (we can always get this from you later, but if you do not provide your TFN or Exemption Code we are required by law to deduct withholding tax at the highest marginal rate).
• A secret question and answer (we will use these to identify you when you call).

That's the account that we transfer your money to once your account reaches maturity. You choose this account when you apply, and can change it if you need to.

For self managed super funds the account must be in the same name as the fund or trustee/s of the fund.

Yes, however we will also need to verify the details of the new account. Call us anytime on 13 30 80 for details of how to verify your new account. Please tell us at least five days before maturity.

All parties on a joint account can access information about the term deposit.

When you apply you will nominate whether the account is required to be operated;

• under the authority of both directors or trustees, or
• by either party.

Account authority is required to make any changes to your account such as:

• Changing your chosen bank account
• Changing maturity instructions
• Prepaying or closing your term deposit