uob stash account

uob stash account

Blog Article

This is a discounts account offered by United Abroad Lender (UOB) that encourages men and women to save a lot more by giving bigger curiosity charges based upon the account stability. Let's stop working The important thing functions and Rewards that may help you realize it superior.

Critical Capabilities
Tiered Fascination Costs: The curiosity price increases as your account stability grows, satisfying you for saving more.
No Lock-in Interval: Contrary to mounted deposits, it is possible to withdraw your money whenever with no penalty.
Every month Fascination Credit score: Interest is credited every month, allowing for your savings to mature steadily.
How It Works
Opening an Account:

You need to be not less than 18 years outdated.
Each people and non-residents can open up an account with necessary identification paperwork.
Depositing Cash:

You could deposit funds into your UOB Stash Account as a result of different methods for example online transfers, ATM deposits, or in excess of-the-counter in a branch.
Earning Curiosity:

The fascination fee may differ with regards to the amount of cash within your account. As an example:
Balances as much as $10,000 could make a foundation fee.
Higher balances could receive progressively bigger premiums In line with predefined click here tiers established by UOB.
Withdrawing Money:

Withdrawals could be designed whenever by ATMs, on-line banking, or at branches without the need of affecting the accrued interest for that month.
Rewards
Versatility: Accessibility your resources Anytime needed with out dropping out on accrued desire.
Higher Financial savings Development Prospective: Generate a lot more when compared with common price savings accounts as a consequence of tiered desire premiums.
Usefulness: Deal with your account simply through UOB’s digital platforms or Actual physical branches.
Practical Case in point
Imagine you have got just opened a UOB Stash Account and deposited $five,000 initially:

In the main thirty day period:
Your stability earns an initial foundation curiosity rate (say 0.five%).
With time when you insert a lot more funds:
In the event your stability reaches $twenty,000 within just six months as a consequence of regular deposits,
Your new tier may give an increased interest amount (e.g., 1%).
In this manner, not just does the principal amount of money increase with Every deposit but will also the attained fascination compounds quicker resulting from escalating premiums tied straight with much larger balances.

By comprehension these fundamental facets of how a UOB Stash Account is effective and its Rewards, You will be improved equipped to generate educated decisions about controlling and rising your financial savings proficiently!