UOB One

UOB One

4.1
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More about UOB One
Min Rate0.05%
Max Rate3.33%
Min Initial Deposit$500
Interest TiersBased on card spend, GIRO debit and account balances
UOB One

UOB One

4.1
Write a review

More About UOB One

Min Rate0.05%
Max Rate3.33%
Min Initial Deposit$500
Interest TiersBased on card spend, GIRO debit and account balances

Ratings Breakdown

15 Reviews
4.1
  • 5
    7
  • 4
    5
  • 3
    2
  • 2
    0
  • 1
    1

UOB One Reviews

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  • Tan Yi Heng Jason
    Tan Yi Heng Jason
    2 Reviews, 3 Upvotes
    Posted on 10 Jul 2018
    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)
    1
    0
  • Mak Wei Yang
    Mak Wei Yang
    2 Reviews, 5 Upvotes
    Posted on 10 Jul 2018
    This is still my preferred choice of interest programme as it is most relevant to my personal circumstances.
    Comments (0)
    1
    0
  • Stephanie Ng
    Stephanie Ng
    2 Reviews, 13 Upvotes
    Posted on 13 Jun 2018
    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)
    1
    0
  • Kenneth Chan
    Kenneth Chan
    14 Reviews, 18 Upvotes
    Posted on 04 Jun 2018
    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)
    1
    0
  • Katherine Goy
    Katherine Goy
    2 Reviews, 2 Upvotes
    Posted on 29 May 2018
    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)
    1
    0
  • Jasmine Tsoi
    Jasmine Tsoi
    8 Reviews, 21 Upvotes
    Posted on 28 May 2018
    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)
    2
    0
  • Changzhong Zhuang
    Changzhong Zhuang
    7 Reviews, 10 Upvotes
    Posted on 22 May 2018
    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)
    1
    0
  • Shengwen Chua
    Shengwen Chua
    1 Reviews, 1 Upvotes
    Posted on 31 Mar 2018
    This is one of the best current accounts out there with high interest (assuming you have $50K and spend at least $500/mth on your credit card bills). This may seem difficult to achieve at the start, however if you were to combine all your spend on ONE card, you will figure out that $500 is easily achievable. Insurance, installments, fuel, groceries, bills, dining, etc. To really maximize the 3.33% interest, you will need at least $50K but even at 2.22% on the next $20K, this interest rate is still better than most Fixed Deposits. You also get a cheque book which is great for new couples moving into the next phase of their lives where they may be spending substantially on high cost items like furniture, renovations, car, etc. Great rebates on fuel from the major players (Shell, Esso). Best savings account to have.
    Comments (0)
    1
    0
  • Amy Wang
    Amy Wang
    5 Reviews, 5 Upvotes
    Posted on 18 Mar 2018
    I am using this account for $50K balance + no need to credit salary + 3 giro will do. Straightforward hurdle account.
    Comments (0)
    1
    0
  • Junda Ong
    Junda Ong
    5 Reviews, 11 Upvotes
    Posted on 29 Jan 2018
    I simply need to do 2 things to earn the 3.33% interest (effectively is 2.43%) for first $50,000: 1. Credit my salary 2. Spend at least $500/mth, including giro payments eg. insurance This is pretty easy compared to other banks. And on top of that UOB One Card will have $50 rebate per quarter (effectively 3.33% cashback).
    Comments (0)
    2
    0
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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

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