uob stash account

uob stash account

Blog Article

This is a savings account supplied by United Abroad Financial institution (UOB) that encourages people today to save lots of more by providing larger curiosity fees according to the account balance. Let's stop working the key features and benefits that will help you comprehend it better.

Key Options
Tiered Fascination Costs: The curiosity rate improves as your account harmony grows, satisfying you for saving extra.
No Lock-in Period of time: As opposed to fixed deposits, you can withdraw your hard earned money anytime without penalty.
Regular Curiosity Credit history: Fascination is credited month-to-month, allowing for your personal savings to develop steadily.
How It really works
Opening an Account:

You should be at least eighteen years outdated.
Each inhabitants and non-residents can open up an account with necessary identification paperwork.
Depositing Money:

It is possible to deposit money into your UOB Stash Account by way of various approaches such as on the web transfers, ATM deposits, or around-the-counter at a branch.
Earning Fascination:

The fascination level varies depending upon the amount of money with your account. Such as:
Balances around $ten,000 could possibly make a base fee.
Bigger balances could earn progressively larger costs according to predefined tiers set by UOB.
Withdrawing Cash:

Withdrawals might be designed at any time through ATMs, on-line banking, or at branches without having impacting the accrued fascination for that month.
Positive aspects
Overall flexibility: Entry your cash When wanted without the need of getting rid of out on amassed desire.
Better Price savings Advancement Potential: Earn more in comparison to normal financial savings accounts as a result of tiered curiosity prices.
Convenience: Manage your account easily via UOB’s electronic platforms or Bodily branches.
Useful Example
Imagine you have got just opened a UOB Stash Account and deposited $five,000 at first:

In the first thirty day period:
Your stability earns an initial foundation curiosity rate (say 0.five%).
With time when you insert a lot more resources:
If the stability reaches $twenty,000 inside of 6 months on account of steady deposits,
Your new tier might present a greater desire charge (e.g., one%).
In this way, not only does the principal volume develop with Each individual deposit but in addition the gained curiosity compounds speedier as a result of expanding charges tied directly with more substantial balances.

By understanding these basic components of how a UOB Stash Account functions and its Added benefits, You will be much better Outfitted to help make informed choices about more info taking care of and growing your cost savings successfully!