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UOB One Account is a popular high interest savings account from UOB Singapore which allows you to enjoy tiered bonus interest rates of up to 2.50% p.a., with a base interest rate of 0.05% p.a., on your first S$75,000. The extra bonus interest rates are only available when account holders fulfill these 2 categories: hitting a minimum card spend of S$500 on UOB Cards, and Salary Crediting or Making 3 Bill Payments.
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The latest UOB ONE Savings Account interest rates are illustrated in the table below:
Account Balance in your UOB One Account
Total Interest for Category A
Total Interest for Category B
To earn extra bonus interest rates for your UOB One Savings Account, you have to hit at least 1 of the 2 available categories.
CATEGORY A: Hit a minimum spend of S$500 on UOB Cards
CATEGORY B: Hit minimum Card Spend + Salary Crediting of at least S$2,000 OR Making 3 GIRO Bill Payment debit transactions
For a more in-depth breakdown of all the updates to the UOB One Account, check out our blog article on UOB One Account
To enjoy the UOB One bonus rate, all you have to do is meet Category A's criteria of spending a minimum of S$500 on a UOB Card each calendar month.
This isn't too hard to meet if you plan out your monthly expenses like groceries and monthly recurring bills.
Qualifying UOB Cards include:
To maximise and get the highest possible interest rates possible, you'll want to hit Category B instead.
The interest rates for Category B are:
Despite the many changes to the interest rates, all existing qualifying criteria for the UOB One Savings Account remains unchanged.
Overall, it's relatively easy to perform and fulfil the two UOB One Account actions required in order to qualify for Category B interest rates. Additionally, UOB also offers flexibility for those who cannot perform the salary crediting action by allowing you to perform 3 GIRO transaction actions instead.
So if you're a freelancer or self-employed person who does not have a regular salary credited to your account, you can still qualify for Category B interest rates.
If you're thinking of alternatives to the UOB One savings account, it's important to note that given the current low-interest-rate environment that we're in, it's not surprising if the other banks will also continue to review and adjust their interest rates for their high-interest savings account accordingly.
Pros of UOB One Savings Account:
Cons of UOB One Savings Account:
Contact us at [email protected] should you require any assistance or spot any inaccuracies.