Is it worth it to switch from UOB One to OCBC 360 given the recent changes in interest rates?

Based on the recent changes, OCBC 360 would net me about $400 more p.a. than UOB One. My concern with changing is that

1) Interest rates might continue to change in these volatile situations. Based on trends, is it likely that the interest rates would rebound after the situation has stabilised?

2) Cancelling my UOB One credit card might have a negative impact on my credit score given that I've had it for < 1 year.

OCBC 360 Account UOB One Account

4

Discussion (4)

What are your thoughts?

Learn how to style your text

Suraiinsos

20 May 2020

Today, I will be also showing you why choosing OCBC 360 Account over UOB One Account is the way to go for 2020!!

With so many different savings accounts that market themselves as having the ‘highest interest guaranteed!’ It is no wonder we are spoiled for choices.

Not to worry because today I will be sharing my analysis of OCBC 360 account and UOB One account.

This article will provide how each account works and how interest is calculated as well as relatable scenarios to better understand and help us make these difficult choices.

Click the Link Below To Find Out More!!!

https://www.theastuteparent.com/2020/05/ocbc-36...

Reply

Save

Pang Zhe Liang

14 Apr 2020

Lead of Research & Solutions at Havend Pte Ltd

You may choose to hold onto your UOB One credit card without using it. Just ensure that there is no outstanding balance.

If you feel that OCBC 360 is giving a higher yield with similar effort, then switch to it. Otherwise, it is an opportunity cost that you are incurring every month.

I share quality content on estate planning and financial planning here.

Reply

Save