uob stash account

uob stash account

Blog Article

It's a financial savings account supplied by United Abroad Lender (UOB) that encourages people to save a lot more by presenting bigger desire fees according to the account stability. Let's break down The true secret functions and Positive aspects that may help you understand it better.

Key Features
Tiered Desire Fees: The fascination fee will increase as your account stability grows, rewarding you for preserving additional.
No Lock-in Period of time: As opposed to set deposits, you are able to withdraw your hard earned money whenever without having penalty.
Month-to-month Desire Credit rating: Interest is credited every month, letting your cost savings to develop steadily.
How It really works
Opening an Account:

You should be a minimum of eighteen many years aged.
Equally residents and non-inhabitants can open up an account with needed identification files.
Depositing Income:

You are able to deposit dollars into your UOB Stash Account by means of many approaches such as on the web transfers, ATM deposits, or over-the-counter at a department.
Earning Desire:

The curiosity amount varies dependant upon the amount of money within your account. Such as:
Balances as much as $ten,000 could possibly make a base amount.
Higher balances could generate progressively better rates In accordance with predefined tiers established by UOB.
Withdrawing Dollars:

Withdrawals can be created whenever by ATMs, online banking, or at branches with out impacting the accrued curiosity for that month.
Positive aspects
Adaptability: Obtain your resources When desired with out shedding out on gathered fascination.
Increased Discounts Expansion Opportunity: Get paid extra compared to regular savings accounts because of tiered interest fees.
Benefit: Regulate your account conveniently by means of UOB’s digital platforms or physical branches.
Practical Case in point
Consider you may have just opened a UOB Stash Account and deposited $5,000 initially:

In the first thirty day period:
Your stability earns an initial foundation curiosity rate (say 0.five%).
With time as you insert far more funds:
In the event your harmony reaches $20,000 within just six months due to reliable deposits,
Your new tier may well offer an increased interest amount (e.g., 1%).
This fashion, not merely does the principal amount improve with each deposit but in addition the earned curiosity compounds faster on account of increasing costs tied directly with more substantial balances.

By understanding these basic components of how a UOB Stash Account operates and its Added benefits, you'll be far better Geared up to make informed selections about get more info running and expanding your discounts efficiently!