uob stash account

uob stash account

Blog Article

It is a financial savings account offered by United Overseas Lender (UOB) that encourages men and women to save far more by offering increased desire prices dependant on the account stability. Let's stop working the key characteristics and Gains to assist you realize it better.

Crucial Characteristics
Tiered Desire Fees: The interest price will increase as your account harmony grows, fulfilling you for conserving additional.
No Lock-in Interval: Compared with preset deposits, you are able to withdraw your money anytime without penalty.
Month-to-month Interest Credit: Desire is credited every month, allowing your savings to develop steadily.
How It really works
Opening an Account:

You might want to be not less than eighteen several years previous.
Each residents and non-people can open up an account with needed identification documents.
Depositing Cash:

You can deposit revenue into your UOB Stash Account by a variety of strategies such as on line transfers, ATM deposits, or about-the-counter at a department.
Earning Interest:

The desire fee varies based on the amount of cash within your account. For instance:
Balances nearly $10,000 could possibly generate a foundation charge.
Higher balances could receive progressively higher costs In line with predefined tiers set by UOB.
Withdrawing Funds:

Withdrawals is usually manufactured at any time by means of ATMs, on line banking, or at branches without having uob stash account influencing the accrued interest for that month.
Added benefits
Flexibility: Accessibility your cash whenever essential without the need of losing out on accrued fascination.
Bigger Financial savings Progress Opportunity: Earn a lot more when compared to regular financial savings accounts on account of tiered fascination premiums.
Benefit: Manage your account very easily through UOB’s digital platforms or Bodily branches.
Functional Illustration
Consider you have got just opened a UOB Stash Account and deposited $five,000 to begin with:

In the main thirty day period:
Your equilibrium earns an First base curiosity amount (say 0.five%).
After a while while you include much more resources:
In the event your harmony reaches $20,000 inside 6 months resulting from reliable deposits,
Your new tier may possibly supply a greater curiosity charge (e.g., 1%).
This way, don't just does the principal total expand with Every deposit but will also the acquired interest compounds speedier on account of growing premiums tied immediately with larger balances.

By knowledge these basic components of how a UOB Stash Account operates and its benefits, you'll be improved equipped for making informed choices about running and expanding your discounts effectively!