uob stash account

uob stash account

Blog Article

This is a personal savings account offered by United Overseas Lender (UOB) that encourages men and women to avoid wasting much more by featuring better interest premiums depending on the account equilibrium. Let us stop working The main element features and Rewards to assist you realize it improved.

Important Functions
Tiered Curiosity Costs: The curiosity charge raises as your account stability grows, gratifying you for preserving extra.
No Lock-in Interval: Compared with fixed deposits, you can withdraw your hard earned money anytime without penalty.
Every month Curiosity Credit: Fascination is credited regular monthly, enabling your financial savings to improve steadily.
How It Works
Opening an Account:

You'll want to be a minimum of 18 yrs aged.
The two people and non-citizens can open an account with important identification files.
Depositing Money:

You could deposit revenue into your UOB Stash Account as a result of several approaches including online transfers, ATM deposits, or around-the-counter at a department.
Earning Curiosity:

The interest amount varies based on the amount of cash with your account. For instance:
Balances nearly $10,000 might gain a foundation fee.
Greater balances could earn progressively larger rates Based on predefined tiers set by UOB.
Withdrawing Income:

Withdrawals is usually created at any time by way of ATMs, on the net banking, or at branches devoid of impacting the accrued interest for that thirty day period.
Added benefits
Flexibility: Accessibility your money Any time required with no getting rid of out on accumulated fascination.
Larger Cost savings Development Possible: Earn additional as compared to frequent price savings accounts due to tiered interest fees.
Advantage: Take care of your account conveniently by means of UOB’s digital platforms or physical branches.
Practical Case in point
Think about you might have just opened a UOB Stash Account and deposited $5,000 in the beginning:

In the main month:
Your balance earns an Original base interest level (say 0.5%).
As time passes when you incorporate a lot more funds:
If the stability reaches $twenty,000 in six months as a result of constant deposits,
Your new click here tier may supply a greater desire fee (e.g., one%).
In this manner, not merely does the principal amount improve with Every single deposit but additionally the gained curiosity compounds a lot quicker as a result of increasing costs tied directly with greater balances.

By being familiar with these fundamental areas of how a UOB Stash Account operates and its Gains, you'll be superior Geared up to make informed decisions about controlling and rising your financial savings proficiently!