What is good about the UOB stash account?

Hi! UOB Stash Account is a good option if you have a moderate-to-above average balance (think S$50k+) and save a little every month. This is because as long as your balance is larger than the previous month's, you'll earn a rate boost of up to +0.95% p.a., applied to your entire balance. Most accounts that reward incremental growth only apply bonus boosts to the amount of increase–which can end up being quite small, unless you're making big, consistent deposits. This boost, paired with a 0.05% p.a. base rate, leads to a maximum effective interest rate of 0.83% p.a. (achieved at a S$100k balance).

UOB Stash also tends to "fun" sign-on bonuses, like free tech products or substantial cash credits. However, these perks won't make up for an account that doesn't serve your needs in the long run. Maybank iSAVvy Plus has a similar structure (rewards 6 months of consistent growth with no withdrawals) with a higher max EIR of 1.94% p.a., achieved at just S$50k balance. If you're looking for a lower-maintenance account, CIMB FastSaver offers up to 1.33% p.a. effective interest; it doesn't require consistent growth to unlock boosts and doesn't have a minimum balance requirement (though you'll only earn interest on balances of S$1k+).

If you're interested in more comprehensive coverage of popular savings accounts, here's a guide you might want to check out:

https://www.valuechampion.sg/bank-accounts/best...

Hope this helps!

Hey Anon, the UOB Stash Account doesn't look very appealing to me. Having to maintain a monthly average balance of $10k and 1% interest p.a only applies to your deposits from $50k onwards.

I'd consider the following alternatives instead (not limited to these):

1) Hong Leong Bank iSavings Account, offering 1.08% interest p.a on your first $20k.

2) Vivid Savings Account by Singapura Finance, offering 1.05 interest p.a on your first $10k.
3) CIMB FastSaver, offering 1% interest p.a on your first $50k.

4) Singlife Account, offering 2.50% interest p.a on your first $10. (interest non-guaranteed and subject to changes)

5) Etiqa Elastiq, offering 1.8% interest p.a if you're willing to lock-in for 3 months. (interest guaranteed for the first 3 years)