uob stash account

uob stash account

Blog Article

It is a savings account made available from United Overseas Lender (UOB) that encourages persons to save a lot more by featuring larger desire prices based upon the account balance. Let's break down The real key attributes and Positive aspects that will help you realize it better.

Crucial Characteristics
Tiered Desire Rates: The interest charge will increase as your account harmony grows, fulfilling you for preserving extra.
No Lock-in Period: In contrast to set deposits, you'll be able to withdraw your cash whenever without having penalty.
Regular monthly Fascination Credit score: Curiosity is credited month to month, enabling your cost savings to expand steadily.
How It Works
Opening an Account:

You need to be at least eighteen yrs outdated.
The two residents and non-people can open an account with essential identification documents.
Depositing Revenue:

You may deposit income into your UOB Stash Account by means of numerous methods for instance on the web transfers, ATM deposits, or above-the-counter in a branch.
Earning Desire:

The curiosity rate may differ with regards to the amount of money in the account. By way of example:
Balances as much as $ten,000 may gain a base amount.
Greater balances could gain progressively larger fees In line with predefined tiers established by UOB.
Withdrawing Funds:

Withdrawals is usually created at any time via ATMs, on the net banking, or at branches with out impacting the accrued desire for that thirty day period.
Rewards
Overall flexibility: Obtain your funds Every time wanted with out dropping out on gathered fascination.
Bigger Financial savings Progress Probable: Earn much more when compared with common savings accounts because of tiered curiosity charges.
Usefulness: Take care of your account conveniently via UOB’s electronic platforms or Actual physical branches.
Simple Case in point
Visualize you have got just opened a UOB more info Stash Account and deposited $five,000 to begin with:

In the main thirty day period:
Your harmony earns an Preliminary base desire level (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 desire fee (e.g., 1%).
This way, not simply does the principal volume develop with each deposit but will also the attained desire compounds speedier as a result of increasing premiums tied straight with larger sized balances.

By comprehension these fundamental areas of how a UOB Stash Account functions and its Gains, you'll be superior equipped to generate educated choices about taking care of and expanding your discounts efficiently!