UOB stash interest

[Mickey01]

Times ish bad, every dollar counts for me!

I asked this question because on the website hor, it says if we have more than $100,000, the bonus interest will be $0 leh… that’s like $100+ to $200+ gone (but now new interest rate applies again so…) That’s why I find it strange that in my app, it said to maintain at $100,001

For now, I followed what the app said, maintain at $100,001.00 first, since no edmw korkor replied just now. So I already transferred out liao… and keep the account at $100,001.00 exactly. Next month Jan 1, I shall see what happens.

Bonus Interest will be paid up to the 1st $100,000. Any amount above $100,000 will have zero bonus interest but still receive 0.05%.

In your case, $100,000 will be paid prevailing interest (0.05%) + BI and $1 will be paid 0.05% interest

 

[Sausage]

I have a question.. for up to $100000 we get 2% interest and if thr balance exceeds this by $1 the interest drops to 0.05, correct?

if we keep $100000 in there,
does this mean on the 1st of every month we must move all the interest out into another bank, in order to retain the same 2% interest? or is the monthly interest not counted towards the $100000 maximum?


Read HWZ Forum Rules!

 

[peppermint7]

I have a question.. for up to $100000 we get 2% interest and if thr balance exceeds this by $1 the interest drops to 0.05, correct?

if we keep $100000 in there,
does this mean on the 1st of every month we must move all the interest out into another bank, in order to retain the same 2% interest? or is the monthly interest not counted towards the $100000 maximum?


Read HWZ Forum Rules!

What i did is i transfer out the moment the interest is in. At times I didn't check so I transfer out later by days. But we can always refer to the "amount to top up in order to earn interest" tracker and top up the necessary Amount to ensure we don't miss the next interest.

My sis keep forgetting to draw out ended up her amount to maintain become higher and higher. Cos this month in order to earn interest you have to have the average balance higher than last month.

Last month she go transfer $5 out accidentally from the account and she didn't get the interest due to the shortfall. That's why need to be careful.

 

[Sausage]

but does the app track if you have exceeded the $100000? will it tell you you have exceeded this amount and your interest rate has fallen to a low amount?


Read HWZ Forum Rules!

 

[peppermint7]

but does the app track if you have exceeded the $100000? will it tell you you have exceeded this amount and your interest rate has fallen to a low amount?


Read HWZ Forum Rules!

So long u keep up to the amount it ask u to top up, u will get the interest (1.95 or 2%? Sorry I didn't participate for current promo so I'm not sure what they are offering now) for strictly 1st 100k. Anything above 100k only get 0.05%

Eg u put in $100,050
1st 100k u get 1.95 or 2%
$50 u get 0.5%

 

[peppermint7]

Hello, can anyone help explain and advise?
@peppermint7

30 October:
Interest Credit: $3.26

November 1:
Bonus Interest: $111.24
Current Balance: $100,114.50

BONUS INTEREST
Top up 0.00 SGD this month to earn your bonus interest.
Balance to maintain: $76,775.00
Top up required to earn interest: $0.00


My Action on November 1:
On November 1, I transferred $3.26 (Interest Credit) + $111.24 (Bonus Interest) out to other bank. So balance in UOB Stash is $100,000.00

-

Then today I checked the app.

29 November:
Interest Credit: $4.11

01 December:
Bonus Interest: $163.97
Available Balance: $100,168.08

BONUS INTEREST
Top up 0.00 SGD this month to earn your bonus interest.
Balance to maintain: $100,001.00
Top up required to earn interest: $0.00


My question is:
To continue to earn bonus interest for the month of December, does it mean I transfer ($4.11 + $163.97) - $1.00 out from UOB Stash to another bank? And just leave total balance to be $100,001.00?

But wouldn’t anything more than $100,000 in the account will not let you be eligible to earn bonus interest? They stated on their website that above $100,000 , base interest is 0.05%, bonus interest is 0%. Please advise? Thank you.

My apologies I didn't know you at me. I happen to check this thread today then saw. Not sure why no notification on that.. hope all is settled now for you.

 

[peppermint7]

Hello, can anyone help explain and advise?
@peppermint7

30 October:
Interest Credit: $3.26

November 1:
Bonus Interest: $111.24
Current Balance: $100,114.50

BONUS INTEREST
Top up 0.00 SGD this month to earn your bonus interest.
Balance to maintain: $76,775.00
Top up required to earn interest: $0.00


My Action on November 1:
On November 1, I transferred $3.26 (Interest Credit) + $111.24 (Bonus Interest) out to other bank. So balance in UOB Stash is $100,000.00

-

Then today I checked the app.

29 November:
Interest Credit: $4.11

01 December:
Bonus Interest: $163.97
Available Balance: $100,168.08

BONUS INTEREST
Top up 0.00 SGD this month to earn your bonus interest.
Balance to maintain: $100,001.00
Top up required to earn interest: $0.00


My question is:
To continue to earn bonus interest for the month of December, does it mean I transfer ($4.11 + $163.97) - $1.00 out from UOB Stash to another bank? And just leave total balance to be $100,001.00?

But wouldn’t anything more than $100,000 in the account will not let you be eligible to earn bonus interest? They stated on their website that above $100,000 , base interest is 0.05%, bonus interest is 0%. Please advise? Thank you.

What i did is. I transfer out the excess on the day my interest is received and pay attention to the tracker. If tracker state 0 to top up I'll leave it.

And I check the app again in 2 to 3 days time. If it says ask me top up again I'll do so. If it still state 0 to top I'll leave it. So far no hiccups for me via this method. And throughout the month make sure don't be like my sis go make payment via stash account (select wrong acc when making payment) and blow up the chance to get BI

 

[CrashWire]

Just to check, there is no way to close this UOB stash account online? Do I have to visit branch?

Yes, UOB must visit branch.

 

[ahchan]

May I know for those who participate in the Season of gold promo and top-up 100k for the Stash account between 1-30 Nov, has UOB earmark the fund and credit the incentive amount ($210) already?

Because last month, for those who deposited between 1-30 Oct got earmark on 17-Nov....but this month seems still not earmark and incentive not credited yet...

 

[laeticia]

What i did is. I transfer out the excess on the day my interest is received and pay attention to the tracker. If tracker state 0 to top up I'll leave it.

And I check the app again in 2 to 3 days time. If it says ask me top up again I'll do so. If it still state 0 to top I'll leave it. So far no hiccups for me via this method. And throughout the month make sure don't be like my sis go make payment via stash account (select wrong acc when making payment) and blow up the chance to get BI

I made a mistake earlier this month when I transferred the bonus interest out too close to midnight and transaction was reflected as 2 Dec. Then 2 days ago I accidentally selected stash when making a paynow payment.

If my act balance is 100,000,
balence to maintain is 99,982 with 0 top up required to earn bonus interest, will I still get my BI for the month?

 

[peppermint7]

I made a mistake earlier this month when I transferred the bonus interest out too close to midnight and transaction was reflected as 2 Dec. Then 2 days ago I accidentally selected stash when making a paynow payment.

If my act balance is 100,000,
balence to maintain is 99,982 with 0 top up required to earn bonus interest, will I still get my BI for the month?

Yes, you should be able to get so long your account doesn't fall below 100k. Look out and make sure amount to top up to get BI is 0

 

[tehhalia]

my suggestion is to just top up 100k and leave it there.
yes the interest credited, about $123 dollars a month, earns virtually no interest at above 100k (0.05%) but it's not like the $123 can earn you any significant interest elsewhere (say 2% pa interest on $123 is about 20 cents a month). imo beats having to monitor carefully your MAB and risk not getting $123 in any one month.

in other words. you do it correctly and consistently, you save/earn say a few dollars more (a year)
but 1 mistake unchecked and you lose 1 month interest of $123
how many more months of doing it correctly just to cover that 1 oversight?

 

[V_for_Vanilla]

Are you bonus interest for Dec in yet? I don't see mine yet.

 

[chiokcc]

Are you bonus interest for Dec in yet? I don't see mine yet.

In already ... transferred out around $126 .....

 

[V_for_Vanilla]

In already ... transferred out around $126 .....

I didn't get any for Dec. I got for Oct and Nov. I thought it is a monthly continuous affair as long as I maintain the maximum 100k. Or did the promotion expire?

 

[chiokcc]

I didn't get any for Dec. I got for Oct and Nov. I thought it is a monthly continuous affair as long as I maintain the maximum 100k. Or did the promotion expire?

You may have accidentally transferred out more than the necessary amount to satisfy the condition that the Monthly Average Balance must equal or exceed the previous month's MAB ...

 

[tehhalia]

I didn't get any for Dec. I got for Oct and Nov. I thought it is a monthly continuous affair as long as I maintain the maximum 100k. Or did the promotion expire?

not maintain 100k, Maintain or increase your Monthly Average Balance (MAB), as compared to the previous month. suggestion below

my suggestion is to just top up 100k and leave it there.
yes the interest credited, about $123 dollars a month, earns virtually no interest at above 100k (0.05%) but it's not like the $123 can earn you any significant interest elsewhere (say 2% pa interest on $123 is about 20 cents a month). imo beats having to monitor carefully your MAB and risk not getting $123 in any one month.

in other words. you do it correctly and consistently, you save/earn say a few dollars more (a year)
but 1 mistake unchecked and you lose 1 month interest of $123
how many more months of doing it correctly just to cover that 1 oversight?

 

[V_for_Vanilla]

not maintain 100k, Maintain or increase your Monthly Average Balance (MAB), as compared to the previous month. suggestion below

I just checked the bank app.
For Bonus Interest it says 'Balance to Maintain: 100,001 SGD'
'Top up required to earn interest: 1.00 SGD'.
Seems like I have to maintain $100,001 to earn the bonus interest.
I am under the impression balance above 100k will not earn any bonus interest.

 

[tehhalia]

I just checked the bank app.
For Bonus Interest it says 'Balance to Maintain: 100,001 SGD'
'Top up required to earn interest: 1.00 SGD'.
Seems like I have to maintain $100,001 to earn the bonus interest.
I am under the impression balance above 100k will not earn any bonus interest.

yes the amount above 100K does not earn any bonus interest, but as per the TNC you still need to at least maintain the monthly average balance of the previous month, even if the MAB of previous month is above 100k

 

[peppermint7]

I just checked the bank app.
For Bonus Interest it says 'Balance to Maintain: 100,001 SGD'
'Top up required to earn interest: 1.00 SGD'.
Seems like I have to maintain $100,001 to earn the bonus interest.
I am under the impression balance above 100k will not earn any bonus interest.

Try call in to appeal.