UOB Stash Account
- Key Features
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3.5
2 reviews
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Summary
UOB Stash Account Review
Product Page Transparency
- Pays to access additional features
Account Features & Details
1) Key Features
- Earn up to S$575 or 1.0% p.a in interest on your savings when you maintain or increasing your monthly average balanceĀ
- For new UOB customers, receive a UOB One Debit Mastercard upon. Get up 10% cashback on your transport, online shopping, groceries and more
- Earn up to 1.0% p.a interest rateĀ
- First S$10,000: 0.05% p.a base interest + 0.0% p.a bonus interest
- Next S$30,000: 0.05% p.a base interest + 0.25% p.a bonus interest
- Next S$30,000: 0.05% p.a base interest + 0.55% p.a bonus interest
- Next S$30,000: 1.0% p.aĀ base interest + 0.95% p.a bonus interest
2) Interest Rates
- Base interest rate: 0.05% p.a
- Max interest rate: 1.00% p.aĀ
2) Eligibility
- Age: 16 years old and above (for online application); 15 years old and above for in-person applicationĀ
- Citizenship: Singaporeans, PRs, and Foreigners
- Minimum initial deposit: S$1,000
3) Fees
- Fall below fee: S$2 (if average daily balance falls below S$1,000; waived for first 6 months for accounts opened online)
- Early account closure: S$30 (within 6 months of opening)
4) Application Process
How to apply?
- Singaporeans & PRs
- Apply online through UOBās websiteĀ - Foreigners
- Apply at any UOB BranchĀ
Supporting documents
- Singaporeans & PRs
- For all new and existing UOB customers, you may retrieve your personal information with MyInfo through Singpass
- Personal internet banking login detailsĀ
- Credit/Debit card number and PIN - Foreigners
- Passport
- Proof of residential address
- Employment Pass/S Pass/Dependent Pass
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Summary
UOB Stash Account Review
Product Page Transparency
- Pays to access additional features
Account Features & Details
1) Key Features
- Earn up to S$575 or 1.0% p.a in interest on your savings when you maintain or increasing your monthly average balanceĀ
- For new UOB customers, receive a UOB One Debit Mastercard upon. Get up 10% cashback on your transport, online shopping, groceries and more
- Earn up to 1.0% p.a interest rateĀ
- First S$10,000: 0.05% p.a base interest + 0.0% p.a bonus interest
- Next S$30,000: 0.05% p.a base interest + 0.25% p.a bonus interest
- Next S$30,000: 0.05% p.a base interest + 0.55% p.a bonus interest
- Next S$30,000: 1.0% p.aĀ base interest + 0.95% p.a bonus interest
2) Interest Rates
- Base interest rate: 0.05% p.a
- Max interest rate: 1.00% p.aĀ
2) Eligibility
- Age: 16 years old and above (for online application); 15 years old and above for in-person applicationĀ
- Citizenship: Singaporeans, PRs, and Foreigners
- Minimum initial deposit: S$1,000
3) Fees
- Fall below fee: S$2 (if average daily balance falls below S$1,000; waived for first 6 months for accounts opened online)
- Early account closure: S$30 (within 6 months of opening)
4) Application Process
How to apply?
- Singaporeans & PRs
- Apply online through UOBās websiteĀ - Foreigners
- Apply at any UOB BranchĀ
Supporting documents
- Singaporeans & PRs
- For all new and existing UOB customers, you may retrieve your personal information with MyInfo through Singpass
- Personal internet banking login detailsĀ
- Credit/Debit card number and PIN - Foreigners
- Passport
- Proof of residential address
- Employment Pass/S Pass/Dependent Pass
UOB Stash Account
UOB Stash Account
Up to 1% p.a.
INTEREST RATES
$1,000
MIN. INITIAL DEPOSIT
$10,000
MIN. AVG DAILY BALANCE
Reviews (2)
3.5
2 Reviews
5
0
4
1
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2
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1
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High to Low
10 Jun 2020
Purchased
UOB Stash Account
[Interest] joint accounts with my family Elders; earning 1% p.a. interest on one's Monthly Average Balance of 50000.01K+ (or not more than 99999.99K to beef up one's returns; monthly interest is est. S$67.62) without the needs of fulfilling any credit card spent/ investment.0
What are your thoughts?08 Jul 2020
Purchased
UOB Stash Account
My initial signup experience was not good with this UOB Stash account. I have decided open a Stash account on 23 June 2020 due to the June promotion of 'UOB Savers Unite Promotion' where initial deposit of certain amount, I could either get shopping vouchers or Bruno appliances. There was also promised higher deposit interest rates when maintaining or increasing the Monthly Average Balance. As the circuit breaker still in Phase 2, going to a UOB branch inconvenience, hence I have decided to sign online on UOB website, using singpass Myinfo. The website has said that the application will be approved instantly. First stumble, I have encountered after submitting the application, the application was not processed immediately. The message show that application after 8:30pm will be process the next day. Second stumble, on the next day I have received an SMS that UOB was reviewing my application and will hear from them soon. Next, on the same day I recieved an email that UOB will be sending a letter through postage to inform me the status. I was wondering why so there was different information of my application from different source. Third stumble, after a week of not receiving any letter, SMS or email about the application, I called the UOB hotline. Through the UOB hotline, the Customer Service Officer, told me that my online application will not be approved due to that I do not own a credit card with UOB. I have to go down to any UOB branch to apply for this account. Hence, I have decided not to open this account at branch as it was already in July that the freebies promotion was likely to be fully redeemed. Fourth stumble, a few days after the call at the hotline, I have received a UOB letter through postage that this Stash account was opened and I was required to deposit the amount That I had stated during my application. Luckily I did not place my intended funds at other banks, else I will be in trouble with $0 balance in the account. Fifth stumble, I have received an SMS from UOB the next day, that my debit application was successful. I did not apply for any UOB debit card as I knew that UOB debit card has an annual fee, unlike other banks which was free. Though UOB One debit card has a 3% cashback at supermarket and pharmacies, I would need to spend a minimum monthly of $500 with this card. This requirement was either similar or worst than credit cards, I would rather use a credit card for my gorceries purchases. Since, I was required to deposit the amount I had stated during appication, I did a FAST transfer from another bank. The Stash account reflected the amount immediately when I checked in the UOB ibanking. As with other online accounts, I will only receive E-statements and account transaction would be only be shown for the past 3 months, hence I would need save or download the e-copies of my monthly statement myself. Overall, after all those stumbles, I was unhappy with the services provided by UOB, either online or hotline. I have no choice but to keep this account and accept whatever deposit interest rates for at least 6 months, as there would be a cancellation fee if I closed this account within 6 months of opening.1
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Interest Rates for UOB Stash Savings Account
Account Balance | Base Interest | Bonus Interest | Total Interest |
|---|---|---|---|
First S$10,000 | 0.05% | 0.00% | 0.05% |
Next S$30,000 | 0.05% | 0.25% | 0.30% |
Next S$30,000 | 0.05% | 0.55% | 0.60% |
Next S$30,000 | 0.05% | 0.95% | 1.00% |
Above S$100,000 | 0.05% | 0.00% | 0.05% |
How to maximise the interest rate for UOB Stash Account?
UOB Stash Savings account is the type of account ideal for parking funds to save. To best maximise your Stash account:
- Maintain or increase your previous monthās Monthly Average Balance (MAB)
- Maintain a minimum Minimum Average Balance of S$10,000 (No Withdrawals)
- Both of these will allow you to earn up to 1.00% p.a.
The bonus interest rates per annum for UOB Stash savings account are as follows:
- No bonus for the first S$10,000 of your account balance.
- 0.25% p.a. bonus for the next S$30,000 of your account balance.
- 0.55% p.a. bonus for the next S$30,000 of your account balance.
- 0.95% p.a. bonus for the next S$30,000 of your account balance.
- No bonus for account balances above S$100,000
Is UOB Stash the Best Savings Account for You in 2020?
Pros
- Straight-forward savings account that does not require the fulfilment of multiple transaction types to receive bonus interest rates
- Easy to use, just park your salary monthly and wait for it to grow
- Receive 1.00% p.a. for funds up from S$70,000 to S$100,000
Cons
- Does not incentivise spending, hence, might not be ideal if you're looking to spend from this account
- Since Stash emphasises maintaining or increasing your MAB, you have to ensure your account balance does not fall below your previous month's. This means limiting spending usage.
- No bonus for account balances above S$100,000
Terms and fees for UOB Stash Savings Account
- Initial deposit: S$1,000
- Minimum Average Daily Balance: S$1,000
- Fall below fee: S$2 (Waived if the account balance is more than S$1,000)
- Early closure fee: S$30
Eligibility: who can apply for Stash Savings Account?
- Minimum Age: 15 years old
- Citizenship: Singapore Citizen/, Permanent Resident or Foreigner
How to apply for Stash Savings Account?
- Apply Online (with or without MyInfo) via UOB Stash's website or Visit UOB branches
Contact us at [email protected] should you require any assistance or spot any inaccuracies.
Uob truly works only in their interest.Better to be a share holder than account holder