UOB ONE Account

[RedsYWNA]

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%

UOB One card also has 3.33% cash rebate, albeit $50 for 3 mths. But 3.33% is still ok, in the grand context of things.

 

[Henabi]

At least better than our normal savings account right??? Which is like... 0.05%

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[Henabi]

Anyway, my banker say the uob-prudential 500 per month has no sales charge

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[Trazora]

Anyway, my banker say the uob-prudential 500 per month has no sales charge

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Hmm look at the benefit summary, 100% goes into generating returns?

 

[chopra]

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?

comments is that it is lousy and u can discontinue tracking

 

[Henabi]

Hmm look at the benefit summary, 100% goes into generating returns?

Hmmmm.....
My contribution is for 5 years at 12k per year.

Based on interest rate of 3.25%, if I surrender after 5 years.

Principle amt 60K
Maturity 64K

If I surrender after 10th year, 75K
20th year 103K

Then there's another table based on 4.7%, which will give around 66K after 5yrs
83K after 10th
132k after 20th

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[Heyland]

To share - buy ecapitavoucher is not counted as eligible spend.

 

[badsector]

To share - buy ecapitavoucher is not counted as eligible spend.

VISA MCC code is?

 

[Chua Zhiming]

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

Original: Maximum effective interest rate (EIR) on the One Account was 2.4% p.a. for deposits of S$75,000

Current:
Maximum effective interest rate (EIR) on the One Account is 1.80% p.a. for deposits of S$75,000

From 1st Aug 2020:
Maximum effective interest rate (EIR) on the One Account is 1.20% p.a. for deposits of S$75,000

It is still quite good compared to the others, but if i was a new customer, i won't bother setting up just for 1.2% and have to spend $500 monthly.

 

[Sinkie]

Very disappointed that uobone drop to 1.2% for $75,000 also

 

[badsector]

It is still quite good compared to the others, but if i was a new customer, i won't bother setting up just for 1.2% and have to spend $500 monthly.

if it's forced spending just for the interest. u shouldn't anyway

 

[iduncheckmail]

in today's market, 1.2% is not too bad. And since there isnt a need for salary, you can use that for another bank's account criteria.

 

[Sambuca78]

Very disappointed that uobone drop to 1.2% for $75,000 also

1.2% or 0.75% p.a?

https://blog.seedly.sg/best-savings-accounts-singapore

 

[Trazora]

1.2% or 0.75% p.a?

https://blog.seedly.sg/best-savings-accounts-singapore

That part of the article talking about $10k savings.

 

[chopra]

in today's market, 1.2% is not too bad. And since there isnt a need for salary, you can use that for another bank's account criteria.

not ok. it has fallen below fixed rate housing loan.


cry.

 

[vsvs24]

Original: Maximum effective interest rate (EIR) on the One Account was 2.4% p.a. for deposits of S$75,000

Current:
Maximum effective interest rate (EIR) on the One Account is 1.80% p.a. for deposits of S$75,000

From 1st Aug 2020:
Maximum effective interest rate (EIR) on the One Account is 1.20% p.a. for deposits of S$75,000

It is still quite good compared to the others, but if i was a new customer, i won't bother setting up just for 1.2% and have to spend $500 monthly.

Problem with UOB One is it takes time and effort to set up 3 GIROs. The effort is greater than the others. Who knows if there will be another round of cut by the time the GIROs are all ready. And then if want to close have to one by one change the GIRO again

 

[Heyland]

Uob told me it’s mcc 6540

VISA MCC code is?

 

[vogriphach]

Wrote a summary of the changes here. While the drop is quite significant, believe it is still at par or better than the competing products.

https://iwandered.net/uob-one-account-august-2020/

 

[Vulpix]

So sad to see my bonus interest drop so much today.

 

[chiokcc]

<< UOB OneAccount bonus interest chronology >>

Bonus interest if you satisfy the required conditions and have ADB of $75k in the account :

01 August 2018 to 30 April 2020
($4.903)×(no of days in the month)
28 days in the month = $137.27
29 days in the month = $142.17
30 days in the month = $147.08
31 days in the month = $151.98

01 May 2020 to 30 July 2020
($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 = $111.22

From 01 Aug 2020 to ....
($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