UOB stash interest

[Abide.]

May I know if you have other UOB account already before you open the account? I have UOB one account since 1 year ago, so wondering if the uob one account will affect this promotion eligibility or not. If I am not wrong, the incremental is compared with Dec 2024 balance. Not too sure this balance is for all UOB account balance or the stash account balance. Thanks ah!

For the specific account you enrolled in, not for all balances

 

[ericcsn]

May I know if you have other UOB account already before you open the account? I have UOB one account since 1 year ago, so wondering if the uob one account will affect this promotion eligibility or not. If I am not wrong, the incremental is compared with Dec 2024 balance. Not too sure this balance is for all UOB account balance or the stash account balance. Thanks ah!

I have the UOB one account active as well for more than 1 year. The registration of the stash account to get at the promotion gift is independent of the existence of the UOB one account although IIRC the balance is across both the stash as well as the UOB one account (essentially I keep the balance in UOB one account static, so the fresh fund is indeed additional relative to total in both these accounts).

 

[bobby6679]

@Abide. @ericcsn many thanks,both! The account will be ready in 1 or 2 working days right if apply via Internet banking? Am planning to apply around Mar 24, hopefully won't miss the promotion. Thanks!

 

[ericcsn]

@Abide. @ericcsn many thanks,both! The account will be ready in 1 or 2 working days right if apply via Internet banking? Am planning to apply around Mar 24, hopefully won't miss the promotion. Thanks!

Remember to transfer not from your UOB one account but direct from a non UOB account to qualify for the gift. One colleague of mine made the transfer into stash account from his UOB one account and had to go to a UOB branch to appeal for his POG bonus.

 

[peppermint7]

@Abide. @ericcsn many thanks,both! The account will be ready in 1 or 2 working days right if apply via Internet banking? Am planning to apply around Mar 24, hopefully won't miss the promotion. Thanks!

Mine open within the day itself.

 

[chiokcc]

Bonus interest is in, but dated 01 April 2025 ....

 

[tyongchi]

Yes, bonus interest is in (post dated to 1 Apr).
Does it mean I can withdraw the excess fund now without losing next month (ie May) bonus interest?

 

[tpmmark]

Yup. U can look at the app details to see the exact balance to maintain.

 

[LionKingBu]

May I know if you have other UOB account already before you open the account? I have UOB one account since 1 year ago, so wondering if the uob one account will affect this promotion eligibility or not. If I am not wrong, the incremental is compared with Dec 2024 balance. Not too sure this balance is for all UOB account balance or the stash account balance. Thanks ah!

Just signed up last week
Simply open stash account 1st
Then transfer the $ fm another bank into the stash account
ONE account not affected at all
Must maintain min $1k if not $5 fee

But just checked with staff
Even if u withdraw $1 the whole month interest will be gone
The only good thing is u can withdraw anytime in case of emergency

 

[ericcsn]

Just signed up last week
Simply open stash account 1st
Then transfer the $ fm another bank into the stash account
ONE account not affected at all
Must maintain min $1k if not $5 fee

But just checked with staff
Even if u withdraw $1 the whole month interest will be gone
The only good thing is u can withdraw anytime in case of emergency

The trick with withdrawal is to take the interest out on the same day (1st of every month) that the interest is deposited; then you won’t lose the 3% interest off the 100k (since it counts the daily balance vs previous month). Otherwise u have to make an appeal to get paid interest assuming it is only up to that month’s interest amount u have withdrawn on another day after interest was paid

 

[Honda_typeR]

The trick with withdrawal is to take the interest out on the same day (1st of every month) that the interest is deposited; then you won’t lose the 3% interest off the 100k (since it counts the daily balance vs previous month). Otherwise u have to make an appeal to get paid interest assuming it is only up to that month’s interest amount u have withdrawn on another day after interest was paid

What happen if the 1st is on Sunday or Public holiday, will it be affected?

 

[ericcsn]

What happen if the 1st is on Sunday or Public holiday, will it be affected?

I would do it on same day regardless of PH, weekends or otherwise to avoid need for calculating.

 

[ZinY]

The trick with withdrawal is to take the interest out on the same day (1st of every month) that the interest is deposited; then you won’t lose the 3% interest off the 100k (since it counts the daily balance vs previous month). Otherwise u have to make an appeal to get paid interest assuming it is only up to that month’s interest amount u have withdrawn on another day after interest was paid

May I know if it compare the 'average' daily balance of this month vs previous month's one? Is it the same calculation like in OCBC 360 account Average Daily Balance (ADB) but differ only in no increment required?
If that is the case, if you withdraw the last month interest on another day after 1st, the ADB could be even slightly larger than the last month ADB. I am confused.

 

[ericcsn]

May I know if it compare the 'average' daily balance of this month vs previous month's one? Is it the same calculation like in OCBC 360 account Average Daily Balance (ADB) but differ only in no increment required?
If that is the case, if you withdraw the last month interest on another day after 1st, the ADB could be even slightly larger than the last month ADB. I am confused.

Different (because Ocbc has the required $500 daily more in current month than previous). You can think through with an example :
Say in stash you have $100k for full month Mar. You received an interest of say $250 on 1 April (now we won’t use the occasion of 1 May as it is a PH and UOB actually pays on1 May but post dates it to 2 May which is advantageous to us).

If you choose to take out this $250 on the last day (30 April), your Apr ADB is close to $100250. So come 1 May 25, when your account is paid to become $100250 again (for simplicity- given 31/30 interest difference), u can’t take out a single cent since your May ADB at $100,000 (after removing $250) is less than April ADB (at $100250) and it means you forfeited your May interest comes June if u do.

But had you taken out the interest on 1 April, your Apr ADB remains at $100k, and comes 1 May when u are paid $250 in interest, u can continue to withdraw this full amount of interest on the day itself.

So ... when you choose to take out $250 on any date after 1 April, your ability to take out the amount off the next month's interest is progressively reduced to the point that it can be zero (as we have seen with the above example).

 

[FlyGuardX]

this one seem to be going strong

 

[Honda_typeR]

Different (because Ocbc has the required $500 daily more in current month than previous). You can think through with an example :
Say in stash you have $100k for full month Mar. You received an interest of say $250 on 1 April (now we won’t use the occasion of 1 May as it is a PH and UOB actually pays on 30 April but post dates it to 2 May which is advantageous to us).

If you choose to take out this $250 on the last day (30 April), your Apr ADB is close to $100250. So come 1 May 25, when your account is paid to become $100250 again (for simplicity- given 31/30 interest difference), u can’t take out a single cent since your May ADB at $100,000 (after removing $250) is less than April ADB (at $100250) and it means you forfeited your May interest comes June if u do.

But had you taken out the interest on 1 April, your Apr ADB remains at $100k, and comes 1 May when u are paid $250 in interest, u can continue to withdraw this full amount of interest on the day itself.

So ... when you choose to take out $250 on any date after 1 April, your ability to take out the amount off the next month's interest is progressively reduced to the point that it can be zero (as we have seen with the above example).

so if interest paid either 30,31,1,2, just
take out on 1st? or on day intetest in? Does value date matters? TIA!

 

[ericcsn]

so if interest paid either 30,31,1,2, just
take out on 1st? or on day intetest in? Does value date matters? TIA!

1. I believe what matters is the posting date (not transaction date) since this is the only date shown against the transaction.

(note there is a difference between transaction date and posting date. Transaction date is when the actual transaction takes place. Posting date is what the bank record shows).

2. So in my case,
a. when I saw the interest in stash ($242.87) which came in on 1 May, it was reflecting it as 2 May.
b. I withdrew the same amount on 1 May (transaction date), but it registered as 2 May (posting date).

3. I come to the conclusion that in this case, UOB has given us an extra day to withdraw the interest in this case of a PH.
And that withdrawing it either on 1 May or 2 May will still be ok, since:
a) I withdrew it on the 1 May, the transaction date is the 2 May.
b) if i had withdrew it on the 2 May, I believe the transaction date will still show up as 2 may.

4. What about if they paid you on the 30th Mar and post dated it to 2 Apr (as ppl here have reported)? If it was withdrew on the 30th Mar, was it showing the withdrawal posting date as 2 Apr as well? (Mine didn't have this transaction to tell)

If not, my view is:
If your withdrawal date shows an earlier date (ie 30 Mar rather than 2 Apr), it should be to your advantage since the Apr ADB is going to be higher than (if withdrawal date shown is instead 31 Mar) or same (if withdrawal date shown is 1 Apr) as Mar ADB.

 

[Honda_typeR]

1. I believe what matters is the posting date (not transaction date) since this is the only date shown against the transaction.

(note there is a difference between transaction date and posting date. Transaction date is when the actual transaction takes place. Posting date is what the bank record shows).

2. So in my case,
a. when I saw the interest in stash ($242.87) which came in on 1 May, it was reflecting it as 2 May.
b. I withdrew the same amount on 1 May (transaction date), but it registered as 2 May (posting date).

3. I come to the conclusion that in this case, UOB has given us an extra day to withdraw the interest in this case of a PH.
And that withdrawing it either on 1 May or 2 May will still be ok, since:
a) I withdrew it on the 1 May, the transaction date is the 2 May.
b) if i had withdrew it on the 2 May, I believe the transaction date will still show up as 2 may.

4. What about if they paid you on the 30th Mar and post dated it to 2 Apr (as ppl here have reported)? If it was withdrew on the 30th Mar, was it showing the withdrawal posting date as 2 Apr as well? (Mine didn't have this transaction to tell)

If not, my view is:
If your withdrawal date shows an earlier date (ie 30 Mar rather than 2 Apr), it should be to your advantage since the Apr ADB is going to be higher than (if withdrawal date shown is instead 31 Mar) or same (if withdrawal date shown is 1 Apr) as Mar ADB.

ok so means if follow your above strategy. Always just need to leave 100k and withdraw interest either on the day it came in or the 1st will be safe right?

 

[ericcsn]

ok so means if follow your above strategy. Always just need to leave 100k and withdraw interest either on the day it came in or the 1st will be safe right?

yes. will be ok when same day in same day out (and equal to the interest amount).

Dont take out more than interest amount (obviously). Equally dont take out lesser amount on same day as it also will adversely affect next month computation of ADB.

Think of it this way using this example of withdrawing less than interest paid on same day: you withdrew just $1 on same day as interest came in. Essentially you have the similar form of problem I described earlier (where substantially u did not withdraw any interest till the last day).

Similarly any other amount withdrew which is less than the interest amount paid will unnecessarily complicates ADB that then affects next month withdrawal.

If you missed the date when they come in, then need to compensate or work out how much to take out.

 

[Honda_typeR]

yes. will be ok when same day in same day out (and equal to the interest amount).

Dont take out more than interest amount (obviously). Equally dont take out lesser amount on same day as it also will adversely affect next month computation of ADB.

Think of it this way using this example of withdrawing less than interest paid on same day: you withdrew just $1 on same day as interest came in. Essentially you have the similar form of problem I described earlier (where substantially u did not withdraw any interest till the last day).

Similarly any other amount withdrew which is less than the interest amount paid will unnecessarily complicates ADB that then affects next month withdrawal.

If you missed the date when they come in, then need to compensate or work out how much to take out.

Great you have been really helpful thanks