uob stash account

uob stash account

Blog Article

It is a financial savings account offered by United Abroad Financial institution (UOB) that encourages men and women to avoid wasting more by featuring better curiosity prices based on the account harmony. Let's stop working The crucial element functions and benefits to assist you to are aware of it much better.

Vital Functions
Tiered Desire Costs: The interest fee increases as your account harmony grows, rewarding you for conserving extra.
No Lock-in Time period: Compared with set deposits, you could withdraw your money whenever without penalty.
Regular monthly Desire Credit: Curiosity is credited every month, enabling your discounts to develop steadily.
How It Works
Opening an Account:

You'll want to be at least 18 several years aged.
Both citizens and non-citizens can open up an account with important identification files.
Depositing Money:

You'll be able to deposit income into your UOB Stash Account as a result of various techniques including on the net transfers, ATM deposits, or around-the-counter in a department.
Earning Desire:

The desire rate varies according to the sum of money with your account. One example is:
Balances as many as $ten,000 could gain a foundation amount.
Better balances could gain progressively better premiums In keeping with predefined tiers established by UOB.
Withdrawing Dollars:

Withdrawals is often designed whenever by means of ATMs, on the internet banking, or at branches without having affecting the accrued interest for that thirty day period.
Added benefits
Overall flexibility: Accessibility your funds Any time desired devoid of shedding out on accrued desire.
Better Discounts Progress Possible: Earn additional when compared to typical financial savings accounts due to tiered fascination charges.
Convenience: Take care of your account very easily via UOB’s electronic platforms or physical branches.
Realistic Instance
Visualize you might have just opened a UOB Stash Account and deposited $5,000 to begin with:

In the very first thirty day period:
Your balance earns an First base fascination rate (say 0.5%).
Over time while you increase a lot more resources:
Should your equilibrium reaches $20,000 in 6 months as a result of dependable deposits,
Your new tier may well give a greater fascination rate (e.g., 1%).
In this manner, not only does the principal sum mature with Every deposit and also the gained more info interest compounds more quickly as a consequence of growing costs tied specifically with larger balances.

By knowing these elementary components of how a UOB Stash Account functions and its Rewards, you'll be superior Geared up to make informed decisions about handling and developing your discounts competently!