If you’re looking for a savings account that offers high interest rates and a range of benefits, the UOB One Account in Singapore might be just what you need. This account is designed to help you save more money and earn more interest on your savings, making it a great choice for anyone who wants to grow their wealth.
To get started with the UOB One Account, you’ll need to meet certain eligibility requirements and open an account online. Once you’ve done this, you can start depositing funds and earning interest rates of up to 1.5% p.a. on your savings. There are also a range of additional benefits and services available with this account, including cash rebates on your credit card spending and discounts on travel and dining.
If you’re serious about maximising your savings and earning more interest on your money, the UOB One Account in Singapore is definitely worth considering. With its high interest rates, flexible options and range of benefits, this account is an excellent choice for anyone who wants to grow their wealth and achieve their financial goals.
Understanding the UOB One Account
Are you looking for a savings account that offers high interest rates and bonus interest? Look no further than the UOB One Account. This account is designed to help you maximise your savings in a simple and hassle-free way.
Account Features
The UOB One Account offers a range of features that make it an attractive option for those looking to save money. Here are some of the key features of this account:
- Minimum age: 18 years old
- Nationality: Singaporeans, PRs, E-Pass, S-Pass & Dependent Pass holders
- Initial deposit: $1,000
- Minimum balance (monthly): $1,000
With the UOB One Account, you can earn up to 7.8% p.a. interest in just two steps. First, spend a minimum of $500 on an eligible UOB card. Second, credit your salary of at least $1,600 or make 3 GIRO payments monthly. It’s that simple!
Interest Rates Explained
The UOB One Account offers a tiered interest rate system, which means that the interest rate you earn depends on the amount of money you have in your account. Here’s how it works:
- For the first $15,000 in your account, you can earn up to 0.25% p.a. interest.
- For the next $15,000, you can earn up to 1.5% p.a. interest.
- For the next $15,000, you can earn up to 1.8% p.a. interest.
- For any amount above $45,000, you can earn up to 2.5% p.a. interest.
But that’s not all. The UOB One Account also offers bonus interest rates that can help you earn even more. Here’s how it works:
- Spend a minimum of $500 on an eligible UOB card to earn an additional 0.5% p.a. interest.
- Credit your salary of at least $1,600 or make 3 GIRO payments monthly to earn an additional 1% p.a. interest.
When you combine these interest rates and bonus interest rates, you can earn an effective interest rate of up to 7.8% p.a. That’s one of the highest interest rates you’ll find on any savings account in Singapore.
In conclusion, the UOB One Account is a great option for anyone looking to save money and earn high interest rates. With its tiered interest rate system and bonus interest rates, you can maximise your savings and earn an effective interest rate of up to 7.8% p.a.
Eligibility and Opening Your Account
Eligibility Criteria
To open a UOB 360 account, you must meet the eligibility criteria. You must be at least 18 years old, have a valid Singapore identification card, and be a Singaporean citizen, permanent resident, or foreigner with a valid employment pass or work permit.
Furthermore, you must have a minimum initial deposit of $500 to open your UOB 360 account. You can also link your UOB 360 account to other UOB accounts for easy fund transfers and to enjoy higher interest rates.
Opening Your Account Online
Opening your UOB 360 account online is simple and convenient. All you need is a computer or mobile device with internet access and your identification card.
To begin, visit the UOB website and click on the “Apply Now” button. You will be prompted to fill in your personal details, including your name, identification number, and contact information.
Once you have completed the application form, you will need to upload a scanned copy of your identification card and proof of address. You can then make your initial deposit via internet banking or a cheque deposit machine.
After your application has been approved, you will receive a confirmation email with your account details. You can then log in to your UOB 360 account using your internet banking credentials and start managing your finances.
In conclusion, opening a UOB 360 account online is a quick and easy process that can be completed in just a few simple steps. With its attractive interest rates and convenient features, the UOB 360 account is a great choice for anyone looking to maximise their savings.
Maximising Your Savings
If you’re looking to maximise your savings, the UOB 360 account is a great option. By following a few simple steps, you can earn higher interest rates on your savings and make the most of your money.
Salary Crediting
One way to earn higher interest rates on your UOB 360 account is by crediting your salary to the account. By doing so, you can earn up to 1.85% p.a. on your account balance. This rate is applicable to account balances up to $50,000.
Optimising Card Spend
Another way to earn higher interest rates on your UOB 360 account is by optimising your card spend. By spending at least $500 on your UOB card and crediting your salary or making 3 GIRO payments monthly, you can earn up to 3.33% p.a. on your account balance. This rate is applicable to account balances up to $100,000.
Here’s a breakdown of how you can earn higher interest rates on your UOB 360 account:
| Criteria | Interest Rate |
|---|---|
| Salary Crediting | $1,000 – $50,000: 1.50% p.a. Above $50,000: 1.85% p.a. |
| Optimising Card Spend | $15,000 – $50,000: 2.50% p.a. Above $50,000 – $100,000: 3.33% p.a. |
By following these two simple steps, you can earn up to 3.33% p.a. on your UOB 360 account balance. This is a great way to maximise your savings and make the most of your money. So why not open a UOB 360 account today and start earning higher interest rates on your savings?
Additional Benefits and Services
As a UOB 360 account holder in Singapore, you can enjoy exclusive benefits and services that are designed to help you make the most of your money. In this section, we will cover some of the additional perks that come with your UOB 360 account.
Exclusive UOB Cards
As a UOB 360 account holder, you can enjoy exclusive benefits when you use your UOB cards. For example, the UOB EVOL Card offers up to 8% cashback on dining, groceries, and online shopping. You can also earn up to 3% cashback on all other spend categories. Additionally, you can enjoy up to 50% off dining and entertainment deals with the UOB Dining Privileges programme.
Another option is the UOB One Card, which offers up to 5% cashback on all spend categories when you meet the minimum spend requirements. This card also offers discounts on petrol, travel, and more.
Investment and Insurance Options
In addition to banking services, UOB also offers investment and insurance options. With UOB Invest, you can access a range of investment products such as unit trusts, bonds, and structured deposits. You can also use UOB’s online trading platform to invest in stocks, ETFs, and more.
For insurance, UOB offers a variety of options to protect you and your loved ones. You can choose from life, health, and personal accident insurance policies. UOB also offers travel insurance and home insurance to keep you covered no matter where you are.
Overall, as a UOB 360 account holder, you have access to a range of exclusive benefits and services that can help you make the most of your money. Whether you want to earn cashback on your spending or invest in your future, UOB has you covered.
Understanding Fees and Charges
When it comes to banking, fees and charges are often an unavoidable aspect of the experience. However, with the UOB 360 Account Singapore, you can rest assured that the fees and charges are reasonable and transparent.
Firstly, the fall-below fee for the UOB 360 Account Singapore is S$5 if the monthly average balance falls below S$1,000. However, this fee is waived for the first 6 months for accounts opened online. This means that you have some time to build up your savings and avoid the fee.
Secondly, the early account closure fee for the UOB 360 Account Singapore is S$30 if you close the account within 6 months of opening it. This fee is important to keep in mind if you are considering opening the account but are not sure if it is the right fit for you.
In addition to these fees, there are other charges that may apply to your UOB 360 Account Singapore. For example, there are fees for cash deposits and exchange services, foreign cheque collection, inward and outward remittance, and trade services. However, these fees are clearly outlined on the UOB website and are reasonable compared to other banks in Singapore.
It is also worth noting that the UOB 360 Account Singapore offers a variety of benefits that can help offset some of these fees and charges. For example, you can earn interest on your account balance and receive cash rebates on your credit card spend. These benefits can help you save money and make the most of your banking experience.
Overall, the UOB 360 Account Singapore is a great option for those looking for a transparent and reasonable banking experience. While there are some fees and charges to keep in mind, the benefits of the account make it a worthwhile investment.
Frequently Asked Questions
How can you maximise your interest earnings with a UOB 360 account?
To maximise your interest earnings with a UOB 360 account, you can earn up to 1.5% p.a. interest on your account balance by fulfilling certain criteria. These criteria include making at least 3 transactions per month on your UOB debit or credit card, crediting your salary or making a minimum monthly deposit of $500 into your UOB 360 account, and paying at least 3 bills via UOB’s online banking or GIRO services. By fulfilling these criteria, you can earn up to 1.2% p.a. base interest, as well as an additional 0.3% p.a. bonus interest.
What are the eligibility criteria for opening a UOB 360 account?
To open a UOB 360 account, you must be a Singapore citizen or permanent resident aged 18 years or above. You must also have a minimum initial deposit of $500.
What are the steps involved in setting up a UOB 360 account online?
To set up a UOB 360 account online, you can visit the UOB website and follow the instructions provided. You will need to provide your personal details and submit the necessary documents for verification. Once your account is approved, you can start using it to manage your finances.
Are there any bonuses or promotions currently available for new UOB 360 account holders?
Yes, UOB currently offers a sign-up bonus of $80 cash credit for new UOB 360 account holders who open an account online and complete the necessary steps. Additionally, UOB may offer other promotions from time to time, so be sure to check their website for the latest offers.
How does the UOB 360 account compare with the OCBC 360 in terms of benefits?
The UOB 360 account and the OCBC 360 account are both popular savings accounts in Singapore that offer similar benefits. However, the UOB 360 account offers a higher maximum interest rate of up to 1.5% p.a., while the OCBC 360 account offers a maximum interest rate of up to 1.2% p.a. Additionally, the criteria for earning the maximum interest rate may differ between the two accounts.
What fees should you be aware of when maintaining a UOB 360 account?
There are certain fees associated with maintaining a UOB 360 account, such as a fall-below fee of $5 per month if your account balance falls below $3,000. Additionally, there may be other fees for certain transactions or services, such as overseas ATM withdrawals or cheque book requests. Be sure to check the UOB website for the latest fee schedule and any updates.