UOB ONE Account

[maumu]

or just do 50K

yeah been thinking if 'hybrid' is the way to go.. to maximize the window. But it means have to empty in Dec, and then May, when earmarked period ends, and make do with sub-optimal bonus rates for those months and also not being able to maximize the cash reward each time (top up $50k, then $100k, then $50k again, rinse and repeat).

all while still trying to maximize $150k @ 4%

but as IR is expected to start dropping next year, things may change.

 

[chiokcc]

New promo is equivalent to 5-6mth FD, still beat Tbills!

How you arrive at this? $1.1k for principal of $150k for 5~6mth, I calculate it to be ~1.5% ......

 

[silentears]

Asking stupid question. I opened the one account but comes with debit card. The best card to unlock the $500 bonus interest is from the uob one credit right?

If I were to stick to debit card means I will lose out on cashback?

As currently the to be eligible for the credit card promotion, new customers need to spend 1k for , 2 months each, seems abit hard, to get the bonus of 200, as I low spender.

 

[cannot.remember]

If put $100k in Stash today, until 17 Dec its 170 days. With $700 cash credit from the Nation of Savers promo and Stash's interest rate of 3.005%, EIR is around 4.51%. Did I get it right?

 

[Sambuca78]

How you arrive at this? $1.1k for principal of $150k for 5~6mth, I calculate it to be ~1.5% ......

U need to add the 4% interest of UOB one too leh.

 

[ThreeSteps]

If put $100k in Stash today, until 17 Dec its 170 days. With $700 cash credit from the Nation of Savers promo and Stash's interest rate of 3.005%, EIR is around 4.51%. Did I get it right?

I calculate $100k EIR to be around 4.43% based on full 6 months 01Jul-31Dec holding period in new Stash a/c opened today.

 

[ThreeSteps]

Asking stupid question. I opened the one account but comes with debit card. The best card to unlock the $500 bonus interest is from the uob one credit right?

If I were to stick to debit card means I will lose out on cashback?

As currently the to be eligible for the credit card promotion, new customers need to spend 1k for , 2 months each, seems abit hard, to get the bonus of 200, as I low spender.

Refer to this link: https://www.uob.com.sg/personal/cards/cashback/one-debit-card.page
Debit card also have cashback & benefits.

 

[waddahell]

Can do alternate promo lo

I see. thanks.

 

[waddahell]

yeah been thinking if 'hybrid' is the way to go.. to maximize the window. But it means have to empty in Dec, and then May, when earmarked period ends, and make do with sub-optimal bonus rates for those months and also not being able to maximize the cash reward each time (top up $50k, then $100k, then $50k again, rinse and repeat).

all while still trying to maximize $150k @ 4%

but as IR is expected to start dropping next year, things may change.

but kind of lazy to keep tracking lol
or maybe as what the other member mention, use stash to do alternate

 

[waddahell]

If put $100k in Stash today, until 17 Dec its 170 days. With $700 cash credit from the Nation of Savers promo and Stash's interest rate of 3.005%, EIR is around 4.51%. Did I get it right?

correct. thats what I derive also

 

[maumu]

Repeating the info for convenience and reference sake .....

From 1st May 2024, computed bonus interest for the first $150k principal amount (average daily balance) :

28 days in the month = $454.52
29 days in the month = $470.75
30 days in the month = $486.98
31 days in the month = $503.21 (verified with May 2024 statement)

Disclaimer : actual amounts may differ by a few cents due to rounding off, pls refer to bank for eventual amounts .....

Bonus interest should come on Tuesday .....

just wondering, you used 365 as denominator right? instead of 366.

also, how come I'm getting 503.22 instead of your 503.21, for 31 days in the month?

 

[bumdssa]

i can open a new stash account to take part in the latest promo right? then withdraw at the end of the mth (with min balance left) when the earmark ends.

 

[spikeling]

If put $100k in Stash today, until 17 Dec its 170 days. With $700 cash credit from the Nation of Savers promo and Stash's interest rate of 3.005%, EIR is around 4.51%. Did I get it right?

You need to continue to place the $100k in Stash until 31 Dec to get the full interest. If you withdraw on 17 Dec, you will get zero bonus interest for the month of Dec.

 

[chiokcc]

just wondering, you used 365 as denominator right? instead of 366.

also, how come I'm getting 503.22 instead of your 503.21, for 31 days in the month?

The exact computed value is "503.219178....", so if you round down, you get 503.21, if round to the nearest 2 decimal places, it's 503.22 .......

For "503.219178....", there is a range of possible answers :

Round down to nearest 2 decimal places, 503.21
Round to nearest 2 decimal places, 503.22

 

[chiokcc]

i can open a new stash account to take part in the latest promo right? then withdraw at the end of the mth (with min balance left) when the earmark ends.

Just open a Stash acct today, get the new acct number, register for the promo -> choose $100k to get $700 .....

Transfer $100k from another bank to this newly opened Stash acct .....

By 01 Jan 2025, total interest earn will be approx $1500 + $700 ....

If consider $2.2k earned for $100k over 6 months, roughly 4.4% (give and take) .....

 

[bumdssa]

You need to continue to place the $100k in Stash until 31 Dec to get the full interest. If you withdraw on 17 Dec, you will get zero bonus interest for the month of Dec.

understood. thanks!

 

[bumdssa]

Just open a Stash acct today, get the new acct number, register for the promo -> choose $100k to get $700 .....

Transfer $100k from another bank to this newly opened Stash acct .....

By 01 Jan 2025, total interest earn will be approx $1500 + $700 ....

If consider $2.2k earned for $100k over 6 months, roughly 4.4% (give and take) .....

thanks very much! intend to only fund on 31st jul. for now keep the 100k elsewhere with high than 3%.

 

[chiokcc]

Aiya, why they forced me to take the UOB one debit card when I apply for Stash acct ...... another "straight-to-drawer-for-storage card for me" .....

 

[Devilsire]

If put $100k in Stash today, until 17 Dec its 170 days. With $700 cash credit from the Nation of Savers promo and Stash's interest rate of 3.005%, EIR is around 4.51%. Did I get it right?

I calculate $100k EIR to be around 4.43% based on full 6 months 01Jul-31Dec holding period in new Stash a/c opened today.

Just open a Stash acct today, get the new acct number, register for the promo -> choose $100k to get $700 .....

Transfer $100k from another bank to this newly opened Stash acct .....

By 01 Jan 2025, total interest earn will be approx $1500 + $700 ....

If consider $2.2k earned for $100k over 6 months, roughly 4.4% (give and take) .....

Stash Account (100k)

To fully leverage on this promo, Fund in on 31 Jul, withdraw only on 1 Jan

31Jul - 1Jan = 155 Days
Total interests: $1256.31 (S$0.13 + S$254.52 + S$246.31 + S$254.52 + S$246.31 +S$254.52)
+ Earmarked bonus $700
= $1956.31 / 155d
= a 4.606% EIR 5 Months "FD" option

 

[maumu]

The exact computed value is "503.219178....", so if you round down, you get 503.21, if round to the nearest 2 decimal places, it's 503.22 .......

For "503.219178....", there is a range of possible answers :

Round down to nearest 2 decimal places, 503.21
Round to nearest 2 decimal places, 503.22

well since your earlier sharing you mentioned it was verified in May, that means the bank should have truncated the interest value at 2 decimal places... instead of rounding off to the nearest cent to .22