UOB ONE Account

[xRenol]

Am I still eligible for Income tax payment rebate? So, I need to put GIRO to my UOB ONE account, and paynow using UOB as well? Am I too late to do it now?

The UOB One Account Tax Saver Promotion ends 31 March 2026.

You can shorten/optimize the number of monthly payment based on your Income Tax amount as mentioned by Crayon Shinchan.

Actually if have $150k in UOB One, the maximum monthly tax saver is capped of $50, which equates to $833.34 per month of Tax.
For average people usually our monthly tax is alot alot lower than that.
Does it make sense to shorten our number of months of payment (e.g. 6 months) for this year? to get back the tax cashback sooner? or just set it over the 12 months?

Just a discussion point.

 

[chopra]

what to do? just stick with it. 3.3% still better than the other fuss-free accounts...

rates are trending downwards so just need to get used to it I guess.

If put uob for 12 months
150k x 3.3% =4950

If put uob for 5 months and maybank 2.8% for 7 months
150k x 3.3% x 5 mths + $500 )) + (( 150k x 2.8% x 7 months)) = 2562 + 2450

u get more than 4950. And in fact, u may put in uob abit longer since u can roughly track the cash is king promo reference month (now is march)

 

[Mickey01]

If put uob for 12 months
150k x 3.3% =4950

If put uob for 5 months and maybank 2.8% for 7 months
150k x 3.3% x 5 mths + $500 )) + (( 150k x 2.8% x 7 months)) = 2562 + 2450

u get more than 4950. And in fact, u may put in uob abit longer since u can roughly track the cash is king promo reference month (now is march)

how do you get Maybank 2.8% for 7 months?

 

[chopra]

how do you get Maybank 2.8% for 7 months?

Isavvy. Esaver also 2.8% ya?

 

[Mickey01]

Isavvy. Esaver also 2.8% ya?

but isavvy promotion is for 3 months (Apr to Jun 2025) and eSaver is exclusive invite for 3 months (May to Jul).

 

[xRenol]

If put uob for 12 months
150k x 3.3% =4950

If put uob for 5 months and maybank 2.8% for 7 months
150k x 3.3% x 5 mths + $500 )) + (( 150k x 2.8% x 7 months)) = 2562 + 2450

u get more than 4950. And in fact, u may put in uob abit longer since u can roughly track the cash is king promo reference month (now is march)

I think the comparison is incorrect. You should also include the S$500 from Cash is King Savings Bonanza if you place S$150,000 in UOB for 12 months.

UOB for 12 months
S$150,000 x 3.3% + S$500 = $5,450

UOB for 5 months and Maybank for 7 months
(S$150,000 x 3.3% x 5 months + S$500) + (S$150,000 x 2.8% x 7 month) = S$2,562.50 + $2,450 = $5,012.50

In short, UOB 3.3% p.a. is still higher than Maybank or SCB eSaver at 2.8% p.a. unless maumu is looking at fuss-free savings account.

 

[chopra]

I think the comparison is incorrect. You should also include the S$500 from Cash is King Savings Bonanza if you place S$150,000 in UOB for 12 months.

UOB for 12 months
S$150,000 x 3.3% + S$500 = $5,450

UOB for 5 months and Maybank for 7 months
(S$150,000 x 3.3% x 5 months + S$500) + (S$150,000 x 2.8% x 7 month) = S$2,562.50 + $2,450 = $5,012.50

In short, UOB 3.3% p.a. is still higher than Maybank or SCB eSaver at 2.8% p.a. unless maumu is looking at fuss-free savings account.

To clarify. There are ppl like choikcc that perpetually put inside uob. And my comparison is solely to show that this group is not making as much money .

They wont enjoy the extra $500. The point is to become a virgin if u want to enjoy the extra $500

so ur illustration is correct if one is a virgin prior to the 12mth in uob. But then it also beats me on how the person is going to become a virgin again in future

 

[chopra]

but isavvy promotion is for 3 months (Apr to Jun 2025) and eSaver is exclusive invite for 3 months (May to Jul).

Isavvy 3mthly 2mthly is almost like perpetual one la

 

[xRenol]

To clarify. There are ppl like choikcc that perpetually put inside uob. And my comparison is solely to show that this group is not making as much money .

They wont enjoy the extra $500. The point is to become a virgin if u want to enjoy the extra $500

so ur illustration is correct if one is a virgin prior to the 12mth in uob. But then it also beats me on how the person is going to become a virgin again in future

Unless one knows when the new promotion will start and withdraw the money from his/her UOB account 1 month beforehand.

Based on the current promotion, the 2 main conditions are new funds and compared against your Monthly Average Balance for the calendar month of March 2025.

 

[chopra]

Ya. Need an expert to plot e history. Can roughly guess one

 

[chopra]

Unless one knows when the new promotion will start and withdraw the money from his/her UOB account 1 month beforehand.

Based on the current promotion, the 2 main conditions are new funds and compared against your Monthly Average Balance for the calendar month of March 2025.

no need to actively track the start date of promo. The trick is to pull out of uob 1 at e end of your promo cycle month and then patiently park at isavvy/esaver and wait out.

as my maths show, you get more money

i already gotten $1500++ in the past few years already. So end to end, im better than perpetual uob one.

 

[Rusty89]

Is there any way to participate in cash in king promo if you are already existing cust with max out amt in uob one acc? (other than transfer in another 20k)

 

[xRenol]

no need to actively track the start date of promo. The trick is to pull out of uob 1 at e end of your promo cycle month and then patiently park at isavvy/esaver and wait out.

as my maths show, you get more money

i already gotten $1500++ in the past few years already. So end to end, im better than perpetual uob one.

Your point is also valid.

I did not follow UOB promotions closely. There will be an opportunity cost (3.3% vs 2.8%) if one is waiting for UOB promotions in the future.

 

[ericcsn]

no need to actively track the start date of promo. The trick is to pull out of uob 1 at e end of your promo cycle month and then patiently park at isavvy/esaver and wait out.

as my maths show, you get more money

i already gotten $1500++ in the past few years already. So end to end, im better than perpetual uob one.

Your point is also valid.

I did not follow UOB promotions closely. There will be an opportunity cost (3.3% vs 2.8%) if one is waiting for UOB promotions in the future.

If the quantum of the next UOB promo is bigger or same as assumed ($500), then ok. If it is lesser, than this game no longer holds true and in fact will be the opposite.

 

[chopra]

If the quantum of the next UOB promo is bigger or same as assumed ($500), then ok. If it is lesser, than this game no longer holds true and in fact will be the opposite.

As uob one just dropped interest rate, this is likely to stay for another 6 months. In fact, i am using prestige isavvy which is 2.9%. For every $500 earn, at an opportunity cost of $60 per month, it also allows some buffers in case the game flip as u said.

Each month opportunity cost:
150000 * (3.3-2.8)%/12 =62.5 62.5

amount gotten at start of promo
500

buffer 500/62.5=8

 

[tigertail]

Anyone participated and funded in Apr already got their funds earmaked? Should be happening soon...

 

[shengliang1981]

Anyone participated and funded in Apr already got their funds earmaked? Should be happening soon...

Been waiting but still not yet..

 

[tigertail]

Earmarked!

 

[sglandscape]

Previously i put $150k into 2 uob accounts, me and wife. But after interest drop, use the monies to trade options in the stock market..

the returns are way way more than 4 percent... i can even get 9 percent just in a month... not a year. Ever since, have stop focusing on this type of High yield saving account interest...which is actually very pale if compared to the stock market.

Take for example the $500 that we previously receive in UOB one when it was 4 percent per annum... i could profit way more than $500 just in a day with options. Of course it is not guaranteed every day, but just even 1 day already beats putting monies in 1 month in uob one haha...

Not relevant discussion for this thread. Completely different asset class and risk

 

[hyperfuse]

Not relevant discussion for this thread. Completely different asset class and risk

okay will delete away.

But the asset here we are all talking is Cash haha. Anyway i got your point.

And purpose of people putting monies in a HYSA is to grow that cash to have interest/profits which is the ultimate goal. Just sharing thats all.