UOB ONE Account

[snowman80]

T_T so sad.. good thing don’t last long.. lucky use cash to redeem mortgage loan Liao..

it was 2.44%, then down to 1.80% in May, now 1.20% from Aug...

 

[ABuNeNe]

what is the max transfer limit to other bank account?

I can see 1 mil in the transaction limit but when I clicked save, it reverted back to $100k

 

[iduncheckmail]

T_T so sad.. good thing don’t last long.. lucky use cash to redeem mortgage loan Liao..

Paying down your mortgage in a Low interest rate environment may not be the most astute move either .

 

[lls0101]

So which bank account is better now?

I have salary credit to OCBC but also 3 giro at UOB one. Also 77k+ currently at OCBC 360 and 10k+ at UOB one.

Hopping over from one to the other is a hassle.

With the new revision at UOB one again, should I move my cash from OCBC back to UOB one again?

(From the revision notes, I should receive $900 from UOB one based on newly revised interest of 75k. OCBC online calculation give me nearly the same amount)

Sent from somewhere out there using GAGT

 

[Trazora]

So which bank account is better now?

I have salary credit to OCBC but also 3 giro at UOB one. Also 77k+ currently at OCBC 360 and 10k+ at UOB one.

Hopping over from one to the other is a hassle.

With the new revision at UOB one again, should I move my cash from OCBC back to UOB one again?

(From the revision notes, I should receive $900 from UOB one based on newly revised interest of 75k. OCBC online calculation give me nearly the same amount)

Sent from somewhere out there using GAGT

Think you already done the calculations so should already know the answer. You can also consider alternatives like Dash Easy, Singlife and Elastiq.

 

[lls0101]

Think you already done the calculations so should already know the answer. You can also consider alternatives like Dash Easy, Singlife and Elastiq.

1) Technically, I should consider alternatives for better returns. Just too lazy to look at options again. Sighz

2) Based on what I calculated, UOB one should give me slightly more at 75k and do not have the hassle to maintain more balance every month. Giro is previously set up and maintaining $500 spending is the only active chore needed (though it will give me another $200 which is irrelevant to my current comparison of bank rates).

So ignoring the better choice of (1), I should transfer the balance back to UOB one and maintain 75k. Did I miss any thing in my calculation?

Sent from somewhere out there using GAGT

 

[Trazora]

1) Technically, I should consider alternatives for better returns. Just too lazy to look at options again. Sighz

2) Based on what I calculated, UOB one should give me slightly more at 75k and do not have the hassle to maintain more balance every month. Giro is previously set up and maintaining $500 spending is the only active chore needed (though it will give me another $200 which is irrelevant to my current comparison of bank rates).

So ignoring the better choice of (1), I should transfer the balance back to UOB one and maintain 75k. Did I miss any thing in my calculation?

Sent from somewhere out there using GAGT

By freeing the need to spend on uob cards you can potentially spend on other cards that give higher rebate for the same spending.

 

[snowman80]

Might not be best for most ppl but different ppl got different perspective and it’s good to be debt free..

Paying down your mortgage in a Low interest rate environment may not be the most astute move either .

 

[Utonian]

So which bank account is better now?

I have salary credit to OCBC but also 3 giro at UOB one. Also 77k+ currently at OCBC 360 and 10k+ at UOB one.

Hopping over from one to the other is a hassle.

With the new revision at UOB one again, should I move my cash from OCBC back to UOB one again?

(From the revision notes, I should receive $900 from UOB one based on newly revised interest of 75k. OCBC online calculation give me nearly the same amount)

Sent from somewhere out there using GAGT

agree with Trazora, you seem to know what you looking for already. for simplicity can look at Elastiq now and pump in.

If have to chose between UOB or OCBC, i would say OCBC. A bit of hassle to get the save component but definitely better than having to spend $500 on credit card. If you are easily clocking $500 a month then go with UOB since EIR 1.2% apply on 75k versus OCBC 70k

 

[lls0101]

By freeing the need to spend on uob cards you can potentially spend on other cards that give higher rebate for the same spending.

agree with Trazora, you seem to know what you looking for already. for simplicity can look at Elastiq now and pump in.

If have to chose between UOB or OCBC, i would say OCBC. A bit of hassle to get the save component but definitely better than having to spend $500 on credit card. If you are easily clocking $500 a month then go with UOB since EIR 1.2% apply on 75k versus OCBC 70k

Yes. Freeing up UOB spending can net me more ($30-40 per month depending on monthly spending) with $600 on my DBS live fresh card.

Really should take time this month to reconsider the options.

Guess I just transfer back to UOB today and research on the option over the weekend. Thanks for the advice

Sent from somewhere out there using GAGT

 

[iduncheckmail]

Might not be best for most ppl but different ppl got different perspective and it’s good to be debt free..

yup, i dont deny that some people just want to be debt free for peace of mind.
There's always good debt and bad debt. Mortgage rates at 2.6% pa HDB and ~2% pa private, its easy to beat with other investment instruments, therefore can be considered good debt to have (so long as you invest to beat that ~2%).

 

[chiokcc]

Bonus interest from 01 May 2020 if you satisfy the required conditions and have ADB of $75k in the account :
($3.58767)×(no of days in the month)

28 days in the month = $100.45
29 days in the month = $104.04
30 days in the month = $107.63
31 days in the month = $111.21

Any comments and corrections?

B.U.M.P. for info .... New bonus interest rate starts 01 May 2020.

I think there is new rates from next month?

 

[SamSze]

B.U.M.P. for info .... New bonus interest rate starts 01 May 2020.

I think there is new rates from next month?

Interest credited this morning

Counting down to the last monthly interest in early Aug

 

[chiokcc]

B.U.M.P. for info .... New bonus interest rate starts 01 May 2020.

I think there is new rates from next month?

OK, here is the link to the new rates from 01 Aug 2020 ....

https://www.uob.com.sg/web-resource...nterest-rates-for-uob-one-account-aug2020.pdf

 

[chiokcc]

Bonus interest from 01 Aug 2020 if you satisfy the required conditions and have ADB of $75k in the account :
($2.3630)×(no of days in the month)

28 days in the month = $66.16
29 days in the month = $68.52
30 days in the month = $70.89
31 days in the month = $73.25

Any comments and corrections?

 

[kashanai]

Yup same calculations

Bonus interest from 01 Aug 2020 if you satisfy the required conditions and have ADB of $75k in the account :
($2.3630)×(no of days in the month)

28 days in the month = $66.16
29 days in the month = $68.52
30 days in the month = $70.89
31 days in the month = $73.25

Any comments and corrections?

 

[pcmdan]

OK, here is the link to the new rates from 01 Aug 2020 ....

https://www.uob.com.sg/web-resource...nterest-rates-for-uob-one-account-aug2020.pdf

Revised to 1.2% p.a.

Pathetic

 

[chiokcc]

Revised to 1.2% p.a.

Pathetic

1.15% if you exclude the base interest. What to do, we do not have much choices right now...

 

[pcmdan]

1.15% if you exclude the base interest. What to do, we do not have much choices right now...

for now i rather put excess in BOC for extra 1%. But got news that they might drop too. Just hope they dont drop the excess amount.

no point spending $500 just to earn 0.2%

 

[battledome64]

Bonus interest from 01 Aug 2020 if you satisfy the required conditions and have ADB of $75k in the account :
($2.3630)×(no of days in the month)

28 days in the month = $66.16
29 days in the month = $68.52
30 days in the month = $70.89
31 days in the month = $73.25

Any comments and corrections?

This is like less than half of what it was previously. Can reduce the $500 minimum spend to $250?