UOB ONE Account

[sglandscape]

how can it be considered as letting money to work hard, when you need to struggle to spend $500 on unnecessary spend, just to get $500 every month? (UOB One Account 4% for $150k is about $500 each month).

if you cut your spending to $500 to fulfill 1x UOB One Account, even just close eyes and put the other $150k in 2x Mari Bank accounts, you will still be better off with more money compared to spending $1000 for 2x UOB One accounts

This assumes the full 500 spend is incemental, which is quite unlikely for people who are actively seeking out yield (assuming middle class and above) given there is a "base" amount that is required to live life. The UOB One is rather unique that it really benefits people who have at least 150k cash and monthly spend is close to 500.

Maribank is probably better for those with less cash, who do not spend anywhere close to 500 per month.

 

[marshmallow96]

This assumes the full 500 spend is incemental, which is quite unlikely for people who are actively seeking out yield (assuming middle class and above) given there is a "base" amount that is required to live life. The UOB One is rather unique that it really benefits people who have at least 150k cash and monthly spend is close to 500.

Maribank is probably better for those with less cash, who do not spend anywhere close to 500 per month.

I am referring to that bro's case, he seems to have a real problem spending 2x $500, but ok with $500.

So i don't see the point of squeezing oneself to spend $500 to earn $500, maybe he doesn't even need to spend that $500. Suggestion to buy things in bulks, only means to spend in advance and pushing the problem further down the road... okie la bulk buy got better discount, but this bro already said he shops for groceries in MY

MariBank is cited as an example of no need to do anything also can get more money than spend $500 to gain $500.... there are better accounts with higher interest rates around, but Mari is really very fuss free.

 

[kurt_629]

I am referring to that bro's case, he seems to have a real problem spending 2x $500, but ok with $500.

So i don't see the point of squeezing oneself to spend $500 to earn $500, maybe he doesn't even need to spend that $500. Suggestion to buy things in bulks, only means to spend in advance and pushing the problem further down the road... okie la bulk buy got better discount, but this bro already said he shops for groceries in MY

MariBank is cited as an example of no need to do anything also can get more money than spend $500 to gain $500.... there are better accounts with higher interest rates around, but Mari is really very fuss free.

as much as i wanna stay frugal in SG. i will somehow will spend.
just keep it within $500 and UOB will refund me the spent.
so its quite good.

I'm lazy to switch to other banks.
I moved from HSBC to DBS to SC and finally UOB, so far UOB has been treating me.
Got a RM to attend to me, so anything i just reach out to her for assistance.

 

[vsvs24]

as much as i wanna stay frugal in SG. i will somehow will spend.
just keep it within $500 and UOB will refund me the spent.
so its quite good.

I'm lazy to switch to other banks.
I moved from HSBC to DBS to SC and finally UOB, so far UOB has been treating me.
Got a RM to attend to me, so anything i just reach out to her for assistance.

You put more than 150k in UOB one ?

 

[dev_stg_prd]

any suggestion what can be GIRO-ed?

 

[kurt_629]

You put more than 150k in UOB one ?

nah. each uob account only max at 150k for the maxi yield.
you could also create a stash account but yet to reach that level

 

[Spongebob79]

Recently there is lot buzz on locking the money but i never know UOB one account can be locked and still enjoy same rates until i read about it.

I would like to confirm assuming i have $100k but i lock only $90k and leave $10k unlocked ( but not used it), the rates of the UOB one monthly interest will be calculated from the total which is $100k?

TIA

 

[Spongebob79]

You can easily find the answers in all the banks' website, most reliable and trusted source of info!
https://www.uob.com.sg/personal/save/lockaway-account.page

Whether I lock or the bank lock (ie earmark)! So long you dun use the special account like digivault account (DBS)

One bank ask me to lock, so I ask them to lock and get > 6%pa interest for 3 mths, why not?

Yes i did read up before posting here to ask. But just want to double check and double confirm in case i miss out anything or misread anything.

 

[KOPS1974]

Recently there is lot buzz on locking the money but i never know UOB one account can be locked and still enjoy same rates until i read about it.

I would like to confirm assuming i have $100k but i lock only $90k and leave $10k unlocked ( but not used it), the rates of the UOB one monthly interest will be calculated from the total which is $100k?

TIA

Yes, I locked $100k and left $ 50k unlocked.. interest is still base on the $ 150k.
I guess UOB follows OCBC (and DBS also) doing the same (no need to open a locked account)

 

[Spongebob79]

Yes, I locked $100k and left $ 50k unlocked.. interest is still base on the $ 150k.
I guess UOB follows OCBC (and DBS also) doing the same (no need to open a locked account)

Thank you for confirming! Appreciate it

 

[Spongebob79]

Yes, I locked $100k and left $ 50k unlocked.. interest is still base on the $ 150k.
I guess UOB follows OCBC (and DBS also) doing the same (no need to open a locked account)

Thank you

 

[rerear]

Nation of Savers promo, can take out now or need wait till end Dec? Sum seems to be unlocked already


Read HWZ Forum Rules!

 

[Sambuca78]

Nation of Savers promo, can take out now or need wait till end Dec? Sum seems to be unlocked already


Read HWZ Forum Rules!

Can withdraw now

 

[dork32]

Nation of Savers promo, can take out now or need wait till end Dec? Sum seems to be unlocked already


Read HWZ Forum Rules!

you can withdraw it. if you are looking for optimize, depends what on strategy you are on

 

[rerear]

thanks, if continue to keep there, can participate in the usual One account bonus interest I suppose, will keep there then


Read HWZ Forum Rules!

 

[ThreeSteps]

date of this posting : 01Jan2025

UOB Lunar New Year Pot of Gold Promotion
https://www.uob.com.sg/personal/pro...310325:Q1SAVE25:na:na&vid=na&pid=CD07Q1SAVE25

t&cs: https://www.uob.com.sg/web-resource...68F454E6DA2A0A4C98A6%40AdobeOrg|TS=1735681625
refer to point#2.4 - Participating Deposit Amount (Cash Credit Amount)
$20k ($68), $50k ($188), $100k ($388), $150k ($688)

refer to point#2.9 “Your Participating Deposit will be Earmarked for the period corresponding to your Participating Deposit date or Participation Form submission date (whichever is later) till the Earmark End Date as set out in the table below (“Earmark Period”). “Earmarked” means that the amount deposited and cannot be withdrawn. You are required to maintain the applicable minimum New Funds in your Participating Account (i.e. your Participating Account day-end balance should be at least the aggregate of your Account’s Monthly Average Balance for December 2024 and the Participating Deposit amount) for the full Earmark Period.

Qualifying Period 1 Jan to 31 Jan - (Earmarked by 28 Feb) - [Earmark End Date 18 June 2025]
Qualifying Period 1 Feb to 28 Feb - (Earmarked by 29 Mar) - [Earmark End Date 18 July 2025]
Qualifying Period 1 Mar to 29 Mar – (Earmarked by 30 Ap) – [Earmark End Date 18 Aug 2025]

 

[chiokcc]

If my UOB one already has $150k MAB(Dec2024), then I put in fresh fund of $150k, means I need to maintain at least $300k till June?

 

[ThreeSteps]

If my UOB one already has $150k MAB(Dec2024), then I put in fresh fund of $150k, means I need to maintain at least $300k till June?

Yes to your question.
You will be earning the normal UOB One 4% (capped at $150k) for the existing $150k, and separately earning only 1.1% for the extra fresh funds of $150k which can earn at least 3.2% if placed with other banks’ promotions.

This type of UOB “Pot of Gold” promo make sense only if you can pair it with either a UOB One a/c (4%-$150k) or UOB Stash a/c (3%-$100k) that has $0/low Dec MAB (Monthly Average Balance). There is a need to 'arrange' the MAB in advance.

 

[chiokcc]

Yes to your question.
You will be earning the normal UOB One 4% (capped at $150k) for the existing $150k, and separately earning only 1.1% for the extra fresh funds of $150k which can earn at least 3.2% if placed with other banks’ promotions.

This type of UOB “Pot of Gold” promo make sense only if you can pair it with either a UOB One a/c (4%-$150k) or UOB Stash a/c (3%-$100k) that has $0/low Dec MAB (Monthly Average Balance). There is a need to 'arrange' the MAB in advance.

Thanks, I was trying to comprehend the T&Cs,

The bold statement :
Your Participating Account day-end balance should be at least the aggregate of your Account’s Monthly Average Balance for December 2024 and the Participating Deposit amount) for the full Earmark Period.

takes a few moments to fully grasp .....

Probably better to open a new Stash account and $100k for the promo ....

 

[Sambuca78]

Yes to your question.
You will be earning the normal UOB One 4% (capped at $150k) for the existing $150k, and separately earning only 1.1% for the extra fresh funds of $150k which can earn at least 3.2% if placed with other banks’ promotions.

I could be wrong, I would think that once the additional 150k has been earmarked, he can withdraw the first 150k and the UOB One 4% will based on the earmarked 150k.

Based on the $688 bonus and 5 Months earmark period, EIR will be 5.05%.

Please correct me if i am wrong.