UOB ONE Account

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DevilPlate

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HoGnix said:
Bank use your money earn more interest than you. You earn 4% right now is considered quite high, but bank will earn more than 10% by using your money.:ROFLMAO:
Click to expand...
No leh…..u know how cheap mortgage rates now?

Way below 2% :ROFLMAO:
 
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HoGnix

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DevilPlate said:
No leh…..u know how cheap mortgage rates now?

Way below 2% :ROFLMAO:
Click to expand...
Example:
You deposit 100K to the Bank and get 3% interest -> $3000 for one year.
Bank can use your money as safety collateral to initiate the house loan $500K @ 2% interest. One year, bank get $10000.
Bank earn = $10000 - $3000 = $7000.
 
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DevilPlate

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HoGnix said:
Example:
You deposit 100K to the Bank and get 3% interest -> $3000 for one year.
Bank can use your money as safety collateral to initiate the house loan $500K @ 2% interest. One year, bank get $10000.
Bank earn = $10000 - $3000 = $7000.
Click to expand...
Latest NIM for our 3 local banks slightly below 2%

Interestingly chatgpt mentioned SG banks total loan to deposit ratio only 65-70% which is below 100%

Kinda strange....our banks super conservative and flushed with cash?
 
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sglandscape

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DevilPlate said:
Latest NIM for our 3 local banks slightly below 2%

Interestingly chatgpt mentioned SG banks total loan to deposit ratio only 65-70% which is below 100%

Kinda strange....our banks super conservative and flushed with cash?
Click to expand...
No sensible company will take more loans now especially if outlook is not great.
 
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sglandscape

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HoGnix said:
Example:
You deposit 100K to the Bank and get 3% interest -> $3000 for one year.
Bank can use your money as safety collateral to initiate the house loan $500K @ 2% interest. One year, bank get $10000.
Bank earn = $10000 - $3000 = $7000.
Click to expand...
The math is not mathing here, the bank lose in this case right? Pay you 3% then charge you 2%, the 400k loan given to you no need to pay any interest by the bank?
 
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Moowoow

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Anyone registered for the ongoing UOB Leap of Fortune Savings Promotion?
Is it worth it for extra interest?
 
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bobby6679

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Dear all,
To learn from u guys. With uob one interest drop, and the tax giro rebate promotion ending Mar 31, I am considering to cancel the one account and deposit to stash account, hopefully can enjoy the new fund top up promotion.
Can I withdraw the uob one balance to another bank, then back top up stash account? Will UOB treat it as new fund? Seek advice with TIA.
 
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CrashWire

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bobby6679 said:
Dear all,
To learn from u guys. With uob one interest drop, and the tax giro rebate promotion ending Mar 31, I am considering to cancel the one account and deposit to stash account, hopefully can enjoy the new fund top up promotion.
Can I withdraw the uob one balance to another bank, then back top up stash account? Will UOB treat it as new fund? Seek advice with TIA.
Click to expand...
Nobody can answer you until the new fresh funds T&C is out.

If they do, please give 4 digits for the next 4D draw as well.
 
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bobby6679

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Thanks! PS I thought someone may ever did this before, that is y ask. Seems there will be new t&c since uob knows some of the uob one customer will drop out
 
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chiokcc

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bobby6679 said:
Dear all,
To learn from u guys. With uob one interest drop, and the tax giro rebate promotion ending Mar 31, I am considering to cancel the one account and deposit to stash account, hopefully can enjoy the new fund top up promotion.
Can I withdraw the uob one balance to another bank, then back top up stash account? Will UOB treat it as new fund? Seek advice with TIA.
Click to expand...
Are you able to hit the min card spend + salary crediting without difficulty every month based on your spending pattern? If the answer is a YES, UOB one account still gives higher interest than Stash ....

Stash @ 1.5% pa on $100k ~$125 per month
UOB1 @ 1.9% pa on $150k ~ $235 per month
 
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bobby6679

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Thanks ah! Currently I have 150k with uob one, I am considering shift to ocbc 360 and left 100k at stash account. The overall intest seems better since I have some cash which earn very low interest now. That is y. Of course the ocbc 360 interest may fall in Mar/Apr also. Just to check the feasibility. Thanks!
 
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chopra

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chaiscool said:
Sg bank keep deposit in vault and lose value ah, loan out better mah

Yes cuz easy 1.5%
Click to expand...
At 1.9%, uob gives 2850, 237.5per mth
Leap gives $380 for putting ard 7mths, so ard 54/mth

eir will be
237.5+ 54 )*12/150k = 2.3%
 
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