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UOB One
3.7
23 reviews
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3.7
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- Updated on 28 Sep 2018Your online services are terrible . Literally 3rd world standards. Some idiot is running the bank. That is definitely not me . Application for cards are so terrible . Yet your sales pple chase us up the escalators .0 comments2
- Updated on 13 Jun 2018My 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.0 comments2
- Updated on 04 Jan 2019I would like to share my experience with UOB one multiplier. The criteria of credit salary is misleading. I credited my salary into the UOB One account but was not entitled the interest under the "Credit Salary" category. End up I only get 1.5% for spending above $500 on credit card. This is the reply from UOB when I enquired about it. "In order to qualify for the salary credit (purpose code: SALA), your employer will need to use bulk payroll service (if your employer is banking with UOB). Single GIRO/FAST or manual standing instruction transaction does not qualify as salary credit. If your employer is holding other bank, please get your employer to check directly with the respective bank." For outsider like me, how am I suppose to know about it? Even the branch officer that I visit told me that I just need to credit my salary.0 comments1
- Updated on 02 Oct 2018Perfect if you have at least 60k-75k lounging around, easiest hurdles to meet, just 2 criteria, $500 credit card spending and 3 GIRO bill payments, for a 2.43% yield. I started out with OCBC 360, then created UOB One after maxing out the 60k limit, just transferred 50k to UOB One at one go, then re-accumulate in another hurdle account (I use the salary credit, bill payment which pay to the same folks I GIRO to, another $500 credit card spending), whichever else that suits you best.0 comments1
- Updated on 28 Sep 2018I have been trying to apply for the UOB one card for about 3 weeks. I was first told to apply through internet banking account. That got rejected because i had to upload all my documents. Your staff called and i was busy at that time. So i requested that they sent me an email and they refused to. So i told them i will apply through the website without logging in so that i can upload all the needed forms. I tried to do that when i got home and did that, after applying, they said it could not be processed because there is a pending application. Called back. was told to wait a day before they can abort the application. IT TOOK ONE WHOLE WEEK JUST TO ABORT IT. When it was finally aborted. I reapplied and patiently uploaded all by documents... 4 days later i get a notification, saying i need to upload EVERYTHING AGAIN....0 comments1
- Updated on 16 Sep 2018Best current account with high interest! Their user friendly internet banking interface makes site easy to navigate and easy to use.0 comments1
- Updated on 21 Jan 2018Pros (agreed with Silvester) -ATM convenient. Can use OCBC/UOB. Almost always no queue -UOB one card complements UOB one account. ($50 very quarter if spend $500/month consecutively) -No need to credit salary if can pay 3 bills by giro -mobile app with nice user interface. Can use fingerprint scan -UOB also lets you monitor your bank transactions in the past 3 months Cons -I miss OCBC's website friendly interface with money insights and virtual savings accounts to have financial goals -CC spending is on a quarterly basis. Does not care if you make a big purchase in one month then eat grass the next. I wish they averaged it out across months instead.0 comments1
- Updated on 10 Jan 2019Hassle free card, not much of an issue for me. Especially with UOB One card, good for usage, rebates and service is alright.0 comments0
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Loo Cheng Chuan, Founder at 1M65 Movement
Level 6. Master
Answered on 07 Nov 2018
I would excuse myself from this topic as i am not a subject matter expert on this.
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Jonathan Chia Guangrong, Fund Manager at JCG Fund
Level 6. Master
Answered on 20 Oct 2018
Higher returns tend to run in line with higher risk. The thing you need to ask yourself is how much of a risk appetite you can stomach before you need to cut losses. Generally speaking the safer choices would run the gamut of fixed deposits, higher yielding bank accounts like cimb fast saver and citibank's maxi gain, structured deposits, Singapore savings bonds, ABF Singapore bond index fund (through posb invest saver). Robo advisory portfolio with low risk profiles may also fit in here. Higher risk choices would be straight stock investing, robo advisory portfolio with higher risk profiles, equity Etfs and options portfolio. Typical returns range from about 4% to 40+% or more a year. For non managed portfolios, I'd suggest you find a mentor to teach you to shortcut the learning process. Saves money in the long run and you will be able to achieve your goals much faster. Just ensure there's a track record for the programme. Hope this helps
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Jay Liu, Sleepyhead at Land of Dreams
Level 6. Master
Answered on 25 Sep 2018
Have a sufficient balance in your savings account. E.g. Having the min balance + some spare cash to use. Then the rest you can put into SSB. If you can hit the conditions for High(e.g. 3%) interest, you can consider just putting in the savings account itself.
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Dominic Chang,
Level 3. Wonderkid
Answered on 07 Jun 2018
I work around this issue using other means to save. First I use BOC credit card for its cash back, but due to no salary credit bonus, I stuck with OCBC frank giving me 0.2%, and usually keep the bulk in SSB or buy stocks/REITS. If I do need emergency funds, I can swipe my credit card first then redeem my SSB to pay the bills. WIth this general strategy, my bank account does not have too much cash.
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 |
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
For more information, you can check out their website here.