UOB ONE Account

[Devilsire]

Can move out the funds released from earmark today ?

if i rem correctly, not wise to do so

 

[supersimon1982]

Anyone got their money earmark already for those apply at April ?

 

[vsvs24]

if i rem correctly, not wise to do so

As in get lower interest for May ?

I am fine with that. As long as cash credit don't get clawed back.

 

[chopra]

As in get lower interest for May ?
I am fine with that. As long as cash credit don't get clawed back.

why so


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[sglandscape]

Anyone got their money earmark already for those apply at April ?

Not yet

 

[Devilsire]

As in get lower interest for May ?

I am fine with that. As long as cash credit don't get clawed back.

did a quick calculation, basically if shifting out on 18/5 for alternative rate, the interests need to be > 6.7% to be worthwhile the opportunity cost

 

[maumu]

if i rem correctly, not wise to do so

why not wise to move out once it's returned? there's no binding 'contract' to keep the funds inside if there's better rates elsewhere (e.g. multiplier, EGA + 1%, etc.)

 

[Devilsire]

why not wise to move out once it's returned? there's no binding 'contract' to keep the funds inside if there's better rates elsewhere (e.g. multiplier, EGA + 1%, etc.)

as per my earlier post above

did a quick calculation, basically if shifting out on 18/5 for alternative rate, the interests need to be > 6.7% to be worthwhile the opportunity cost

 

[maumu]

as per my earlier post above

yeah I read but still not sure what you mean...

basically I shifted out the $100k earmarked and dump into EGA which I can get 4.3% this month... so effectively I'll have less than $75k ADB for UOB One for May, getting just 3%.

but it still works out better than leaving the $100k earmarked for the rest of the month which I'll collect around 3.375% EIR for the rest of the month when the same amount can get 4.3% for the rest of the month.

so not sure how you arrive at > 6.7% to justify the shift... can show your calculations?

 

[Devilsire]

yeah I read but still not sure what you mean...

basically I shifted out the $100k earmarked and dump into EGA which I can get 4.3% this month... so effectively I'll have less than $75k ADB for UOB One for May, getting just 3%.

but it still works out better than leaving the $100k earmarked for the rest of the month which I'll collect around 3.375% EIR for the rest of the month when the same amount can get 4.3% for the rest of the month.

so not sure how you arrive at > 6.7% to justify the shift... can show your calculations?

ops my bad, was referring to those earmarked promo with UOB stash
For Stash account, one have to Maintain or increase your Monthly Average Balance (MAB), as compared to the previous month to qualify for Up to 4.95% p.a. bonus interest. Thus any withdrawals resulting to lower MAB than previous mth = 0.05% base interest only

 

[AppleiPhone]

yeah I read but still not sure what you mean...

basically I shifted out the $100k earmarked and dump into EGA which I can get 4.3% this month... so effectively I'll have less than $75k ADB for UOB One for May, getting just 3%.

but it still works out better than leaving the $100k earmarked for the rest of the month which I'll collect around 3.375% EIR for the rest of the month when the same amount can get 4.3% for the rest of the month.

so not sure how you arrive at > 6.7% to justify the shift... can show your calculations?

In my opinion, although you'll make extra $32 for 100K (0.9%pa for 13days) but you'll only get $35 on 5th June (EGA 1%pa for 13days) and have to wait till 31 Aug to get extra $117 (EGA 3.3%pa for 13days) , whereas if you do nothing to your UOB one (with completion of 2 levels), you get $121 on 2nd June (for 3.4%pa for 13days). I think the gain amount too small and the waiting time too long if you move your fund out to EGA. A better choice was to add 50K at UOB one on 30 April to gain 4% for May bonus and decide what to do next month. (I do understand some may not be able to add 50K then no choice stay at 3.4%).

 

[chopra]

balance for the next 11 days shld be 255000


18
103000
1854000
11
255000
2805000
Average
150290.3226




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[chopra]

If throw 250k into uob, while 255000-103000 = 152000 already enjoyed ega for 18 days


(0.04*250000/12)+(0.045*152000/12*(18/31)

1164.301075



If txf out 100k to ega, 150k still in ega


(0.045*100000/12*(11/31))+(0.045*150000/12)

695.5645161

 

[chopra]

If throw 250k into uob, while 255000-103000 = 152000 already enjoyed ega for 18 days
(0.04*250000/12)+(0.045*152000/12*(18/31)
1164.301075
If txf out 100k to ega, 150k still in ega
(0.045*100000/12*(11/31))+(0.045*150000/12)
695.5645161

second scenario- i dowan waste time calculate 100k interest in uob for 18days. sure lousier than first scenario.

will transfer 152000 to uob one now


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[maumu]

waiting is not the issue for me but understand there's this 'opportunity cost' of getting the interest later than others. having been with EGA for a few years now I'm used to waiting up to like 6 months when the cycles are 4-month long...

anyways, my strategy is to empty out UOB one in June and join the Q3 savings promo and pump back 150k. hopefully... the cash rewards will still be sweet enough (and have a quantum for 150k rather than 200k).

 

[Sambuca78]

waiting is not the issue for me but understand there's this 'opportunity cost' of getting the interest later than others. having been with EGA for a few years now I'm used to waiting up to like 6 months when the cycles are 4-month long...

anyways, my strategy is to empty out UOB one in June and join the Q3 savings promo and pump back 150k. hopefully... the cash rewards will still be sweet enough (and have a quantum for 150k rather than 200k).

Me too, already moved everything to moomoo 6.8% 60 days, fund should release around 5 July and in time for q3 promo.

 

[JivBunny]

Hi all. To confirm. The fresh funds just need to be higher than the March DAB if I want to get earmark in May right?

Eg

if my DAB for March is $87,400

in just need to have $137,400 at any point of time in May and not just the DAB to be $137,400?

 

[ahbear82]

Me too, already moved everything to moomoo 6.8% 60 days, fund should release around 5 July and in time for q3 promo.

How does it works for MooMoo? You mean deposit $$ into Moomoo , hold and do not withdraw for 2 months and get 6.8% interest? Is moomoo safe?

 

[sglandscape]

How does it works for MooMoo? You mean deposit $$ into Moomoo , hold and do not withdraw for 2 months and get 6.8% interest? Is moomoo safe?

underlying is a money market fund

 

[saintgtril]

waiting is not the issue for me but understand there's this 'opportunity cost' of getting the interest later than others. having been with EGA for a few years now I'm used to waiting up to like 6 months when the cycles are 4-month long...

anyways, my strategy is to empty out UOB one in June and join the Q3 savings promo and pump back 150k. hopefully... the cash rewards will still be sweet enough (and have a quantum for 150k rather than 200k).

Me too, already moved everything to moomoo 6.8% 60 days, fund should release around 5 July and in time for q3 promo.

Hi both, by doing that, you will

1. incur penalty fee for maintaining below the required MAB?
2. still eligible after joining the promotion before?

Thanks!