UOB One
4.1
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More about UOB One
| Min Rate | 0.05% |
|---|---|
| Max Rate | 3.33% |
| Min Initial Deposit | $500 |
| Interest Tiers | Based on card spend, GIRO debit and account balances |
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More About UOB One
| Min Rate | 0.05% |
|---|---|
| Max Rate | 3.33% |
| Min Initial Deposit | $500 |
| Interest Tiers | Based on card spend, GIRO debit and account balances |
Ratings Breakdown
18 Reviews
4.1
- 57
- 48
- 32
- 20
- 11
Reviews
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- Best current account with high interest! Their user friendly internet banking interface makes site easy to navigate and easy to use.Comments (0)10
- UOB, knowned for its professional services and details. Always a joy opening an account with them. All the mailers and instructions thereafter was prompt and no further instructions were needed for me to issue my first ever cheque to my Sister! UOB - Right by you :)Comments (0)10
- The interest rate has been updated. Great if you want to park your additional short term fund of 75k for an effective interest rate of 2.44% per annum, provided if you fulfill 2 requirements. Maintain $500 recurring expenses on UOB One card (can earn $200 rebates per year) AND have 3 GIRO transactions. In this way, salary crediting can be performed on another account (OCBC/DBS/BOC/Maybank) to earn the salary credit interest.Comments (0)10
- Good interest and prompt crediting but you must have $50,000 to reap full benefits. Anyway, easy to meet criteria (two out of three) and good product overall.Comments (0)10
- This is still my preferred choice of interest programme as it is most relevant to my personal circumstances.Comments (0)10
- My husband and I use this bank account (separate bank accounts) to pay for our wedding. We put all our money inside and apply for the UOB One card. This account only works with spending on their ONE card. Every month, we will call our hotel coordinator and have them charge $2000.00 to it. The rest of the 4 purchases we will spend on random 7-11, NTUC items. We got back close to 3k of cashback from paying our wedding. Really very worth it for people who needs to pay huge sums.Comments (0)10
- Likewise their ONE card, the ONE account is full of frills. The 3.33% only applies to the last $20,000 when you have $50,000 in your ONE account. Plus, minimum GIRO spend, credit use, etc. Full of frills!Comments (0)10
- The rebates is pretty generous but need to make sure that you meet the criteria for 3 months. It is even better when you have UOB ONE savings account as spending above $500 on UOB credit cards give you additional cash rebates.Comments (0)10
- Good place to put your money if you have 50k (anything more, you can put it in ocbc 360 and credit your salary in for 1.2%). Their two criteria are easy to achieve: min spend $500 (or if you are using their credit card most also require a $600 min spend to get rebates so you will definitely hit it), and 3 giros/salary. Take note that their drop down list of giro billing organisations are VERY limited from their online personal banking page. It is mainly IRAS tax or HDB loans, and their UOB credit card. For any other billing organisations like Singtel, other bank's credit card, SP services, you have to set it up yourself manually by downloading the forms from respective organisations and sending it over. The process for setting up GIRO manually also takes around 1-2 months, so take this into account when you open a UOB one. You can also pair UOB one account with their Yolo card and a sweeps account - they call it their young professionals solution account. Might be worth considerations if you dine out and use grab often for rebates with Yolo.Comments (0)20
- Yays 1. 2.43% effective interest if you have exactly 50k (because the interest rate is tiered) 2. No need for salary credit if you pay 3 bills by giro instead - love this 3. Very convenient atms Nays 1. Tiered interest rates mean that the account doesn't favor the poor 2. Mandatory spend of $500! Again, doesn't favor the poor 3. Will comment on the UOB ONE Card because it is intrinsically tied to the account. The card only awards quarterly rebates upon consistent expenditure of 500/1000/2000 for three months. Being so consistent is tough if you only have a one-time large expense. And the cash rebate is also capped at the respective tiers. In other words, spending in between these tiers will not yield you any extra rebate.Comments (0)20
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How to maximise the interest rate for UOB One Savings Account?
Base interest rate(%) p.a.
The base interest rate per annum for UOB One savings account is 0.05%
Bonus Interest Rate(%) p.a
The bonus interest rate per annum for UOB One savings account comes with a few criteria:
If one spends S$500 on UOB One Card:
- 1.0% p.a. bonus for the first S$10,000 of your account balance.
- 1.5% p.a. bonus for the next S$20,000 of your account balance.
- 2.0% p.a. bonus for the next S$20,000 of your account balance.
- 0.05% p.a. bonus for anything over S$50,000 of your account balance.
If one spends S$500 on UOB One Card and Credit Salary of at least S$2,000:
- 1.5% p.a. bonus for the first S$10,000 of your account balance.
- 2.0% p.a. bonus for the next S$20,000 of your account balance.
- 3.33% p.a. bonus for the next S$20,000 of your account balance.
- 0.05% p.a. bonus for anything over S$50,000 of your account balance.
If one spends S$500 on UOB One Card and pay 3 monthly GIRO bills:
- 1.5% p.a. bonus for the first S$10,000 of your account balance.
- 2.0% p.a. bonus for the next S$20,000 of your account balance.
- 3.33% p.a. bonus for the next S$20,000 of your account balance.
- 0.05% p.a. bonus for anything over S$50,000 of your account balance.
Terms and fees for UOB One Savings Account
- Initial deposit: S$1,000
- Citizenship status: Singaporeans, PRs and foreigners
- Minimum age to open account: 18
- Minimum Average Daily Balance: S$500
- Fall below fee: S$2
- Early closure fee: S$30 if below 6 months
