UOB ONE Account

[ericcsn]

All you do (switch Giro) is for UOB income tax rebate? Is it worth the trouble compared with still using iPaymy and Cardup?

a one-time effort (done within mins) and it is akin to picking up $50 off the streets every month (guaranteed, repeatable for at least 12 months and no risk).

 

[maumu]

make the giro switch on the bank this morning and then on iras website around 7pm.
iras note very confusing:
1. says UOB will deduct 7 april (monday) but then
2. shows a plan for may 25 to apr 26.

went to check my UOB account, saw that giro was now set up.
also have an sms which confirmed switch to uob successful.

this UOB really mess up their communications, making customers cancel their existing GIRO arrangements to join theirs, and end up missing April's payment.

so effectively their tax promotion is only effective from May onwards since the new GIRO payment plan can only start from May.

I could have at least gotten 1% from HSBC EGA for April's payment if not for this UOB bobo.

 

[chaiscool]

High ses

Don't think so, think 15% tax tier can hit already. Still got like 7 more higher tax tier, those are the real high ses.

 

[bearkia]

UOB One card cant use cardup and ipaymy. Is there other way to pay personal income tax / housing loan such that it can fulfil the $500 credit card spending? As I might not able to meet $500 spend every month.

 

[ericcsn]

this UOB really mess up their communications, making customers cancel their existing GIRO arrangements to join theirs, and end up missing April's payment.

so effectively their tax promotion is only effective from May onwards since the new GIRO payment plan can only start from May.

I could have at least gotten 1% from HSBC EGA for April's payment if not for this UOB bobo.

no.
by clause in https://www.uob.com.sg/assets/web-r...-saver/one-acc-tax-saver-tnc-cmpg20260331.pdf
2.5 If you satisfy the conditions as set out in Clauses 2.3 and 2.4, you will enjoy a Tax Payment Rebate of 6.0% on the taxes paid.

(i take it as meaning if april tax was paid through UOB giro, i am entitled to the $50 for april 25)

However
2.8 For avoidance of doubt, you are required to keep your PayNow registration and money lock activated for the entirety of each month during the Promotion Period. Where PayNow registration and/or money lock are not active during any month or any part of a month, you will not be eligible for the monthly rebate for that month.

(meaning tomorrow setup with money lock &/ paynow would be too late for the $50 gift even if you have set up your giro since paynow or money lock not yet in place.)

 

[guni_man]

QQ: Does earmarked amount earn interest?

e.g. i have 150k in One account. Do i earn interest on the 150k with 50k earmarked for the special promo? Meaning i Have 100k avail for withdrawal.

 

[ericcsn]

QQ: Does earmarked amount earn interest?

e.g. i have 150k in One account. Do i earn interest on the 150k with 50k earmarked for the special promo? Meaning i Have 100k avail for withdrawal.

yes.
earmarked earns the additional promotion.

 

[chiokcc]

If your personal income tax is $834 per month, you can get $50 rebate per month??

If true, it is very generous ....

 

[ThinkMe]

I mentioned in my earlier post .... if you make the bank changes today, it will be too close to the 6th Apr 2025 deduction (since 6 Apr is a Sunday, GIRO deduction will be on 7 Apr). That's why personally I will make the changes after the Apr GIRO deduction with the current bank.

If you edit the eGIRO using the bank websites, you will not notice this. But if you amend the bank details using IRAS website, there will be a popup alert message (about the possibility of new GIRO plan with deduction starting from May 2025 onwards.

Should have read from here before doing anything lol

 

[ericcsn]

If your personal income tax is $834 per month, you can get $50 rebate per month??

If true, it is very generous ....

can be lowered.
1. you can add property tax to income tax.
2. rebate rate is higher at 6.5% when you additionally have a UOB CDA

 

[chiokcc]

Can I Giro to pay tax of other family members?

 

[ericcsn]

Can I Giro to pay tax of other family members?

In my opinion, can but best to call bank to confirm because.
2.4 Your IRAS personal income and/or property GIRO tax payments must originate directly from IRAS, and posted with transaction references that includes “TAXS”, “PTXP” and/or such other references which we may accept from time to time.

(since the word your is also plural plus they are looking for the above named transaction references)

2.9 Tax Payment Rebates are computed based on the total personal income and/or property taxes paid in the month

(the word total was used - would have omitted it if it was singular ie just personal income and /or property taxes)

 

[changruihao]

From what i hear. Since people have confirmed that if do via egiro no change to tax plan. I believe its just a visual glitch/bad system design. Because april tax payment although not deducted has been sent out and approved by bank(non uob) already if u see your notices. Meaning high chance your april deduction will still happen just that it will be from the non uob bank(pre change).
Once that happens, FY2025 will start on 6th May where iras should rebalance your giro based on the remaining balance and send you a new tax plan which should be the “correct” monthly amount deducted from uob, aka 12 months of rebates until april 2026

 

[chiokcc]

Computed bonus interest for the first $150k principal amount (average daily balance) :

Till 30 April 2025,

28 days in the month = $454.52 (verified with February 2025 statement)
29 days in the month = $470.75 (not yet verified)
30 days in the month = $486.98 (verified with June, September, November 2024 statements)
31 days in the month = $503.21 (verified with May, July, August, October, December 2024, January 2005

From 1st May 2025,

28 days in the month = $373.97 (not yet verified)
29 days in the month = $387.32 (not yet verified)
30 days in the month = $400.68 (not yet verified)
31 days in the month = $414.04 (not yet verified)

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

 

[DevilPlate]

Don't think so, think 15% tax tier can hit already. Still got like 7 more higher tax tier, those are the real high ses.

Surely got cpf contributions plus others relief.
So gross yearly salary should be around 200k?

But yeah below EDMW average 20k pm hehehe

 

[DevilPlate]

a one-time effort (done within mins) and it is akin to picking up $50 off the streets every month (guaranteed, repeatable for at least 12 months and no risk).

One of the criteria is to register for PayNow….sian leh….
Messy if i register with a few banks?

 

[chiokcc]

Hmm, I am reluctant to change my PayNow to UOB as my PayNow is linked to a "spending" account ....

 

[ericcsn]

One of the criteria is to register for PayNow….sian leh….
Messy if i register with a few banks?

Max 2 banks allowed with Paynow: one is using IC and the other is using handphone number to register.

 

[AKK]

The income tax promotion is only applicable with Paynow Mobile number.

 

[xRenol]

It seems quite a hassle to earn that Income Tax cash rebate.

Step 1: Apply for the GIRO Monthly Tax Payment Plan through the IRAS website and select UOB One Account as the deduction account. Use eGIRO to skip paper form filling. You’ll need a UOB One Account, so apply here if you don’t have one already.

Step 2: Register your mobile number for PayNow via UOB TMRW app or UOB Personal Internet Banking.
This may mess up for those who registered their mobile number with a "spending" account. One has to constantly transfer money to UOB One Account to maintain the Monthly Average Balance (MAB).

Step 3: Activate Money Lock on UOB TMRW app or UOB Personal Internet Banking.
Please do not lock all funds and leave sufficient withdrawable balance for GIRO transactions to be deducted.
One has to transfer money to UOB One Account every month after GIRO deduction to maintain the Monthly Average Balance (MAB).