uob stash account

uob stash account

Blog Article

It's a personal savings account supplied by United Overseas Lender (UOB) that encourages persons to save more by presenting increased curiosity fees based upon the account stability. Let us break down The important thing options and Positive aspects to assist you understand it superior.

Important Capabilities
Tiered Curiosity Fees: The curiosity level raises as your account equilibrium grows, gratifying you for preserving much more.
No Lock-in Period of time: In contrast to fastened deposits, you are able to withdraw your cash at any time without having penalty.
Every month Interest Credit score: Curiosity is credited regular, permitting your personal savings to grow steadily.
How It Works
Opening an Account:

You must be not less than 18 a long time outdated.
Both of those residents and non-citizens can open 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 for example 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 bigger fees 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 impacting the accrued interest for that thirty day period.
Gains
Overall flexibility: Entry your money Anytime needed without getting rid of out on gathered curiosity.
Higher Savings Advancement Probable: Generate much more in comparison to frequent discounts accounts on account of tiered curiosity fees.
Usefulness: Control your account easily by means of UOB’s digital platforms or Actual physical branches.
Useful Example
Consider you've just opened a UOB Stash Account and deposited $five,000 at first:

In the first month:
Your equilibrium earns an Preliminary foundation curiosity amount (say 0.5%).
After some time as you insert much more resources:
In case your harmony reaches $20,000 in 6 months as a result of dependable deposits,
Your new tier may well present a greater fascination rate (e.g., 1%).
In this manner, not only does the principal volume mature with Each and every deposit and also the gained interest compounds more rapidly as a consequence of growing costs tied specifically with here larger balances.

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