uob stash account

uob stash account

Blog Article

This is a personal savings account provided by United Abroad Lender (UOB) that encourages men and women to save lots of far more by giving greater interest prices determined by the account harmony. Let us break down the key characteristics and Gains to assist you realize it better.

Important Characteristics
Tiered Fascination Fees: The desire rate raises as your account stability grows, satisfying you for conserving far more.
No Lock-in Period of time: Compared with preset deposits, you can withdraw your money at any time without penalty.
Regular Desire Credit rating: Fascination is credited regular monthly, making it possible for your personal savings to increase steadily.
How It Works
Opening an Account:

You have to be a minimum of eighteen decades outdated.
Equally citizens and non-residents can open up an account with essential identification files.
Depositing Dollars:

It is possible to deposit cash into your UOB Stash Account through many procedures for instance on the internet transfers, ATM deposits, or above-the-counter in a branch.
Earning Desire:

The curiosity rate differs with regards to the amount of money inside your account. For example:
Balances nearly $ten,000 could make a foundation price.
Better balances could generate progressively bigger costs Based on predefined tiers established by UOB.
Withdrawing Funds:

Withdrawals can be made whenever as a result of ATMs, on the internet banking, or at branches with out impacting the accrued curiosity for that month.
Gains
Overall flexibility: Obtain your money whenever necessary devoid of dropping out on gathered fascination.
Higher Personal savings Progress Prospective: Make more compared to common price savings accounts because of tiered curiosity costs.
Usefulness: Take care of your account conveniently via UOB’s electronic platforms or Actual physical branches.
Realistic Case in point
Visualize you have got just opened a UOB Stash Account and deposited $five,000 to begin with:

In the 1st thirty day period:
Your stability earns an Preliminary base desire amount (say 0.five%).
After a while as you add more resources:
If the stability reaches $20,000 in just 6 months as a result of steady deposits,
Your new tier may give an increased curiosity price (e.g., one%).
Using this method, not just does the principal amount of money mature with each deposit but also the gained interest compounds faster as a consequence of expanding fees tied instantly with much larger balances.

By knowledge these basic elements of here how a UOB Stash Account works and its Gains, you'll be improved Outfitted to create knowledgeable conclusions about controlling and growing your discounts effectively!