UOB One Reviews and Comparison - Seedly
 

UOB One

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  • Reviews (47)
  • Questions (16)
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UOB One

Up to 3.88% p.a.
INTEREST RATES
$1,000
MIN. INITIAL DEPOSIT
$500
MIN. AVG DAILY BALANCE

    UOB One

    Up to 3.88% p.a.
    INTEREST RATES
    $1,000
    MIN. INITIAL DEPOSIT
    $500
    MIN. AVG DAILY BALANCE
Reviews (47)

4.2

47 Reviews

  • 5
    24
  • 4
    15
  • 3
    4
  • 2
    0
  • 1
    4

Read Review About...

spend 500

uob card

credit salary

pay bills

spend months

uob bank

account open

giro transactions

cash rebate

meet criteria

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  • Updated 1w ago

    Purchased

    UOB One

    First time using UOB quite impressed by the banker and support. So far so good. Even UOB Malaysia staff was good
    0 comments
    0
  • Updated 2w ago

    Purchased

    UOB One

    Quite easy to hit bonus interest rate monthly as long as set up 3x GIRO payments per month and $500 spend on credit card (which is relatively lower than other bank x credit card requirement). Good that it doesn’t need salary crediting either with above conditions fulfilled. Unclear bonus interest crediting for Grab spend in the recent months though.
    0 comments
    0
  • Posted 3w ago

    Purchased

    UOB One

    I applied it via my ex-company's collaboration with UOB bank which allows salary crediting. Application process was fuss free especially with the corporate plan. The online banking and the UOB Mighty App are easy to use and straightforward. I like the flexibility of the cash withdrawal whereby customers are able to withdraw money from both OCBC and UOB ATM which saves a lot of waiting time. The downside is that their service fee ($5 and average account balance of $1000 is too high for me. I think they could consider the combined amount (ie current + savings) like how DBS (savings + dbs multiplier) does that it doesn't deduct the service fee as long as you maintain $500 in your account. Overall customer service is prompt and efficient.
    0 comments
    0
  • Posted 4w ago

    Purchased

    UOB One

    Uob has a very good ecosystem in credit card expenditure giving upsized interest rates bonus for their Uob one account .opening account was easy and the online banking and Uob mighty secure app has very good ux design
    0 comments
    0
  • Posted 4w ago

    Purchased

    UOB One

    Best account to use right now if you credit your salary and do some spending. the bonus interests are easy to achieve.
    0 comments
    0
Questions (16)

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Credit Card

Bank Account

Payments

UOB One Card

UOB One

UOB

B
Bayle
Level 3. Wonderkid
Updated 2w ago
3 GIRO Transactions: 1. Monthly payments for the UOB ONE card itself (yes, GIRO payments from the ONE account for the ONE card counts as a valid GIRO transaction). You can apply for this via the UOB online banking website; the mobile app does not have this option. 2. Tax payments to IRAS . This assumes that you have some form of tax to pay (individual income tax, property tax, etc.) and that you pay it via GIRO on a monthly basis. 3. Insurance premiums . Most insurance premiums that require monthly payments have a GIRO option. 4. Utilities & telco bills . I do not recommend that you pay these bills via GIRO because you can usually pay them via credit card instead (and have them count towards the monthly $500 credit card spend). But, they are an option. $500 credit card spend, a minimum of 5 transactions: 1. Grab Pay top-ups . UOB will almost certainly exclude Grab Pay top-ups at some point in the near future, but as of now, Grab Pay top-ups are still included. 2. Monthly subscriptions - Netflix, Spotify, gym memberships, etc. 3. Utilities & telco bills . In particular, some providers allow you to "overpay" or pay for your bills in advance. This is useful for evening out your spend across different months. 4. Grocery or shopping vouchers , such as Takashimaya vouchers (no expiry dates), NTUC vouchers, etc.

Credit Card

UOB One Card

UOB One

SG Budget Babe

Grab

GrabPay Card

Cashback

Finance Savvy

Lifestyle

UOB

In order to receive the 5% cashback from UOB One credit card, you will need to spend $2,000 monthly for a consecutive billing quarter, alongside with meeting its other eligibiltiy conditions, e.g. eligible spending. With this in mind, it depends on whether your billing cycle starts in January. Next, there is no restriction on when you wish to spend your credits. All things considered, you may wish to consider topping up or to spend money that you can afford and need to, rather than to overspend for the mere sake of the rebate. Here is everything about me and what I do best.

UOB One

Bank Account

In order to maximise the interest earned from your UOB One account, you will need to meet the eligible spend from the UOB One card on each calendar month. Eligible Spend: Minimum $500 on the card every month. Furthermore, in order to maximise the cash rebate from the UOB One credit card, you will need to spend $500 or $1,000 monthly for a consecutive billing quarter to receive 3% cashback. If you spend $2,000 monthly for a consecutive billing quarter, you will receive 5% cashback. This cashback from the credit card is on top of the interest earned from the UOB One account. For your case, GIRO payment does not count towards the $500 spend. Instead, the $500 spending must come from the UOB One credit card. For your second question, yes, instead of using the credit card facility, you may use UOB One debit card as it is an eligible card to be used in conjunction with UOB One account. Accordingly, you will still receive the additional interest on your UOB One account if the conditions are met. Having mentioned the above points, I will suggest you to understand your cashflow first. Through this process, we will understand our earning ability and spending habit. Here is a guide to help you: https://www.blog.pzl.sg/understanding-your-personal-cash-flow/ This process is especially important as a student where you will want to keep expenses low. As a result, you may wish to evaluate if spending $500 every month is sustainable for you. Otherwise, you may wish to consider other alternatives. Here is everything about me and what I do best.

UOB One

Credit Card

Cashback

Looking at the $1,000 tier, you will need to spend $1,000 in January, of which your bill will be $850. In detail, Spending = $1,000 Cash Rebate = $150 Bill Amount for January = $850 Here is everything about me and what I do best.

SG Budget Babe

UOB One

Savings

Bank Account

Choon Yuan Chan
Choon Yuan Chan
Top Contributor

Top Contributor (Dec)

Level 9. God of Wisdom
Answered 4w ago
Uob one account is the best so far in the market pair it with uob one credit card and you have a winning combination

SG Budget Babe

UOB

UOB One

Savings

Isabel Wong
Isabel Wong
Level 6. Master
Answered 4w ago
If you are 26 and below you can consider SCB Jumpstart. If not you can consider: - OCBC 360 (but you will need to spend at least $500 on ocbc cards to make it worth) - CIMB Fastsaver - fuss free account but the interest rate is lower

UOB

UOB One Card

UOB One

UOB KrisFlyer Credit Card

Citi PremierMiles American Express Card

MileLion

Bjorn Ng
Bjorn Ng
Top Contributor

Top Contributor (Dec)

Level 9. God of Wisdom
Updated on 12 Dec 2019
CitiPremier miles is a good general card as the miles don't expire. However for me, I am using OCBC 90N, also miles don't expire and you can change in blocks of 1,000 miles. Only downside is that it's only for Krisflyer miles and no lounge benefits. If you have an UOB One account, you should have at least 1 UOB CC also (miles/cashback it's up to you). Reason being is that if you can meet min. $500 spend per month, you would be able to hit your UOB One account criteria (Assuming you have 3 GIRO or salary credit to it). Also, UOB One has a tie up with Grab, where you can get up to 10% rebate on it. This is insane. I only just got to know of how good a deal it was! On your last point to be loyal to one bank, no not really, you should select the credit card which suits you!

SG Budget Babe

Credit Card

GrabPay Card

Grab

MileLion

UOB One

UOB One Card

HSBC Advance Credit Card

UPDATE: Amex Krisflyer is still giving rewards for GrabPay now, just that capped at $200 per month. 1) HSBC Advance does not seem to have GrabPay rewards. I didn't get it earlier. But i may be wrong. I see another answer here that HSBC advance do get the rewards :D 2) If the hotel can process GPMC, yes you can use the UOB One - GrabPay - GPMC - hotel. No issue with the rewards ;) have a great and memorable wedding!

SG Budget Babe

Credit Card

UOB One

Grab

Bjorn Ng
Bjorn Ng
Top Contributor

Top Contributor (Dec)

Level 9. God of Wisdom
Answered 4w ago
So far no expiry! But I don't see this being in the long term. I usually only top up Grab with I need to use it, that way I make sure I don't have excess funds locked inside.

Savings

Bank Account

Citi MaxiGain

DBS Multiplier

UOB One

W
William
Level 4. Prodigy
Answered on 20 Nov 2019
Maxigain is tagged to another component which is the 1mth sibor. Unless it is poised to goes up, if not ocbc is offering $50 for every $5k deposit and will need to lock in for 7 months.
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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

For more information, you can check out their website here.