UOB ONE Account

[RedAsh]

i dunno, nvr use before.

But the website says the interest is based on incremental fund compared to previous month or something.

So i need to put 100k in Jan, zero it in Feb, put back 100k in Mar?

Maintain $1k for Feb. There's a $5 fall below fee if your balance is below $1k for e$aver.

 

[winningeleven]

so technically is $80 more and have to pump in extra 50k.

Not wrong to say that. But due to reduce rate. 100k after 1 May is no longer $420.

Even u withdraw all uob one acct and u use the 100k elsewhere on FD. Most local bank (ocbc , dbs ) actually give less than 3.35%.

 

[Extremme]

I think it's still quite decent for 150k for savings or FD account.

If risk taker, 50k can give you good dividend yield from local banks that beats the interest.

 

[xoxozone]

Not wrong to say that. But due to reduce rate. 100k after 1 May is no longer $420.

Even u withdraw all uob one acct and u use the 100k elsewhere on FD. Most local bank (ocbc , dbs ) actually give less than 3.35%.

Merry go round between Maybank isavvy 3.5% and scb esaver 3.45% ?

 

[glorfindel]

Seems like SCB bonus saver is also nerfed....

https://www.sc.com/sg/important-information/deposit-interest-rate-revision/

 

[chaiscool]

A simple explanation

Before 1 May. Annually 5%
Uob acct.
For 100k. U received $420 per month
So u got approx $5k yearly

After 1 may
Uob acct.
For 100k. U only received $282 per month.
So u got approx $3375 yearly .

But if u have 150k at uob one.
U received $500 monthly which is $6k yearly .

The 150k made A difference of $218 additional. (282+218)=500.

u have to decide whether to invest 50k elsewhere that can generate $218 per month. Which mean U need to have at least 5.2% return interest rate .

So if u have 150k on uob. Then is ok to continue with it

So won't ocbc 100k @ ~$400 and 50k with uob be better? Just need 2-3% to get the extra $100

 

[yslvlys]

So won't ocbc 100k @ ~$400 and 50k with uob be better? Just need 2-3% to get the extra $100

About the same right? Still around 500/mth for 150k. But if u split across UOB and Ocbc for 150k, more hoops to jump thru for negligible difference eg. Need to clock min. Spending on both cards.

 

[monkkapepe]

Last time get 100k into UOB first, then OCBC. New one is OCBC 100k first then UOB. After both full 250k then move elsewhere.

 

[winningeleven]

So won't ocbc 100k @ ~$400 and 50k with uob be better? Just need 2-3% to get the extra $100

To qualify for ocbc 100k $400 and the uob 1 50k for the monthly $100 .

U need to fulfill $500 ocbc spending also. So ended up u have to spend 500 for uob 1 and 500 for ocbc 360 leh.

 

[yslvlys]

Last time get 100k into UOB first, then OCBC. New one is OCBC 100k first then UOB. After both full 250k then move elsewhere.

If can only hit min. spending for 1 card, should max out UOB 1st from May onwards.

 

[Steyr69]

Rumours UOB1 interest might drop in May, keep your fingers crossed for Stash!

Wah Bro, you work in UOB har??

Really drop in May.

 

[xoxozone]

Wah Bro, you work in UOB har??

Really drop in May.

Stash also drop? Or still remain at 5%?

 

[ahchan]

Sorry, sidetrack a bit, seems the Bonus Interest for March is not credited today for me....
Usually is 1 day after the normal interest crediting...and normal interest was credited yesterday already...
Anyone got it already?

 

[mynickname]

Sorry, sidetrack a bit, seems the Bonus Interest for March is not credited today for me....
Usually is 1 day after the normal interest crediting...and normal interest was credited yesterday already...
Anyone got it already?

Me haven't, I last checked this morning though

 

[xoxozone]

https://www.uob.com.sg/assets/web-r...ion-of-interest-rates-for-uob-one-account.pdf

With these changes, you can now earn up to S$6,000 total interest in a year for deposits of S$150,000
when you spend a minimum of S$500 on eligible UOB Cards and credit your salary (minimum S$1,600)
via GIRO/PAYNOW each calendar month.

Now It says salary crediting via GIRO/PAYNOW… the usual fund transfer via FAST still works??
Change to the same as OCBC?

 

[dgeralds]

anybody registered for the UOB Big Savings Payout Promotion ?

 

[Jirachi]

https://www.uob.com.sg/assets/web-r...ion-of-interest-rates-for-uob-one-account.pdf

With these changes, you can now earn up to S$6,000 total interest in a year for deposits of S$150,000
when you spend a minimum of S$500 on eligible UOB Cards and credit your salary (minimum S$1,600)
via GIRO/PAYNOW each calendar month.

Now It says salary crediting via GIRO/PAYNOW… the usual fund transfer via FAST still works??
Change to the same as OCBC?

According to Sethisfy, it should be fine. Best way to find out is to check the tracker in May.

 

[gnixer]

Not wrong to say that. But due to reduce rate. 100k after 1 May is no longer $420.

Even u withdraw all uob one acct and u use the 100k elsewhere on FD. Most local bank (ocbc , dbs ) actually give less than 3.35%.

If I’m already on the 1k spending tier so if I spilt 500 each account will that be better?

 

[gnixer]

To qualify for ocbc 100k $400 and the uob 1 50k for the monthly $100 .

U need to fulfill $500 ocbc spending also. So ended up u have to spend 500 for uob 1 and 500 for ocbc 360 leh.

What about salary crediting need to do it at both sides?

 

[chaiscool]

What about salary crediting need to do it at both sides?

Should be, just credit normal salary to ocbc and ownself transfer to uob via dbs salary