UOB One Reviews and Comparison - Seedly
Reviews (34)
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Reviews (34)
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  • One of the competitive interest rate of saving account which also apply for foreigner.
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  • I feel the uob banker can improve their customer services, my colleagues applied for plans but the one account is not open after 6 months of the plan signed.
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  • One of the competitive salary crediting account that earns sizeable interest rate. Only caveat is to hit the minimum spent of $500 a month on debit/credit card. Must pair up with one/yolo/lady’s card.
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  • Easy to earn the additional interest through the simple criteria of a min $500 credit card spending and salary crediting or 3 GIRO debit transactions. Provides a high interest of 3.88% if all criteria are met.
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  • Service is good . Patience staff . Helpful and explaining all details well . Staff helps to do some documents as fast as they can.
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  • Best one account easy to get extra interest and also link to the one card that gave the cash rebate. Will recommend it to more family and friend
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  • Best high interest account in the market! Reliable and efficient travel insurance claim!!!! Highly recommendable and easy to claim. Your one stop solution for all travel insurance needs!!
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  • Best cash rebate account in the market! No fuss and hussle free! Insurance can be charged too!!!!!!
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Questions (5)

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Credit Card

Bank Account

UOB One Card

UOB One

DBS Multiplier

Nicholes Wong
Nicholes Wong
Level 6. Master
Updated on 06 Sep 2019
I would say both have its own strength and weakness. For DBS Multiplier, you can hit actually hit salary crediting, credit card spending and investment category. If you were to do a SSB ladder, you can get the investment category part of the crediting dividends as long as they don't change the criteria. All you need to do is to buy 6 months of SSBs consecutively and make sure your CDP is connected to DBS/POSB account. This way, after the 6 months of buying SSBs, you will receive SSBs interest every month for 10 years which will count as investment category under DBS multiplier. SSB minimum amount is $500 every time so it will take you at least $3,000 but of course, you can put more if you want to. The more transactions you have with DBS, the more interest you get. But for me their credit card doesn't really suit me, they have slightly higher minimum monthly balance, an additional step which is the SSB ladder and I don't have that much transactions in the first place. For UOB one, their credit card gives cashback for most stuff although you have to spend at least $500. (not very hard if have fixed expenses that UOB one give cashback.) Their EIR or effective interest rate is only 2.44% if you have 75k in the UOB one account. They also allow 3 giro transactions instead of salary credit so a bit different as well which means if you plan to keep a big amount of money with the banks you can do both DBS multiplier and UOB one at the same time with a single salary crediting. The headache part is if you don't hit $500 for a single time, you won't get the interest and you won't get the cashback for the quarter. Overall, just choose the accounts and credit cards that suit your need the most.

UOB

UOB One

Autowealth

Robo-Advisors

AMA 1M65

Bank Account

Investments

Loo Cheng Chuan
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.

UOB One Card

UOB One

UOB

Investments

Jonathan Chia Guangrong
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

UOB One

UOB One Card

OCBC 360

Singapore Saving Bonds (SSB)

OCBC 365 Card

Comparison

Bank Account

Investments

Jay Liu
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.

UOB

DBS Multiplier

DBS

UOB One Card

UOB One

Investments

Dominic Chang
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 Rate0.05%
Max Rate3.33%
Min Initial Deposit$500
Interest TiersBased 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.