UBank is an Australian direct bank, operating as a division of National Australia Bank (NAB). It was established in 2008, providing savings and home loans online as well as over the phone.

UBank operates under NAB's banking licence and uses its balance sheet, risk management and technology infrastructure. UBank also participates in the Australian government's deposit guarantee scheme.

UBank was launched by Gerd Schenkel and Greg Sutherland for National Australia Bank on 1 October 2008, with the purpose of establishing a presence in the "self-directed" customer segment.

NAB stated it aimed to attract new retail customers while operating independently to its other retail brands, and in its 2009 annual report, NAB claimed that this strategy had been "successful". UBank operates under NAB's banking licence and participates in the Australian government's deposit guarantee scheme.

Deposits were said to exceed over $500 million in one month. NAB claimed Ubank's "customer advocacy and satisfaction levels" to be "among the highest of any institution in Australia" In its 2009 annual report, NAB claimed "almost 10,000 new customers in a month" for UBank's USaver product.

NAB's UBank has been compared to Qantas' Jetstar in terms of a strategy of internal innovation with the objective of opening new market segments for the parent company.

In October 2012, in a media interview about NAB's results briefing, CEO Cameron Clyne claimed that UBank had "raised $15–16 billion in deposits".

As of October 2015, UBank had $15.7 billion of customer deposits and $3.6b of mortgages.