uob stash account

uob stash account

Blog Article

This is a discounts account made available from United Abroad Financial institution (UOB) that encourages persons to avoid wasting a lot more by supplying greater interest fees dependant on the account harmony. Let's stop working The crucial element functions and Advantages to help you know it greater.

Important Options
Tiered Fascination Prices: The fascination charge improves as your account harmony grows, rewarding you for conserving more.
No Lock-in Period of time: In contrast to preset deposits, you'll be able to withdraw your hard earned money anytime without the need of penalty.
Month to month Desire Credit: Fascination is credited monthly, making it possible for your savings to increase steadily.
How It really works
Opening an Account:

You should be no less than 18 a long time outdated.
Both citizens and non-inhabitants can open up an account with necessary identification paperwork.
Depositing Dollars:

You can deposit funds into your UOB Stash Account by many techniques including on the web transfers, ATM deposits, or around-the-counter in a branch.
Earning Interest:

The interest charge differs depending upon click here the amount of cash in your account. As an example:
Balances approximately $10,000 may possibly gain a foundation amount.
Bigger balances could get paid progressively higher rates Based on predefined tiers set by UOB.
Withdrawing Money:

Withdrawals may be produced anytime via ATMs, on-line banking, or at branches with out affecting the accrued interest for that thirty day period.
Added benefits
Overall flexibility: Entry your money Anytime required with out getting rid of out on accrued interest.
Bigger Price savings Expansion Probable: Receive a lot more in comparison to normal price savings accounts as a consequence of tiered fascination prices.
Convenience: Regulate your account simply by way of UOB’s electronic platforms or Bodily branches.
Practical Case in point
Picture you've just opened a UOB Stash Account and deposited $five,000 at first:

In the first month:
Your balance earns an First foundation curiosity rate (say 0.5%).
Over time while you add additional funds:
If the balance reaches $twenty,000 within six months as a consequence of regular deposits,
Your new tier might offer you the next curiosity amount (e.g., 1%).
Using this method, not only does the principal sum mature with Every deposit and also the earned curiosity compounds speedier due to escalating premiums tied directly with greater balances.

By being familiar with these essential aspects of how a UOB Stash Account operates and its Added benefits, You will be better equipped to produce knowledgeable selections about running and growing your cost savings successfully!