uob stash account

uob stash account

Blog Article

It is just a savings account provided by United Overseas Financial institution (UOB) that encourages men and women to avoid wasting far more by presenting better fascination costs based upon the account stability. Let's stop working The real key options and Gains to assist you to realize it greater.

Crucial Attributes
Tiered Desire Premiums: The curiosity rate boosts as your account stability grows, rewarding you for preserving a lot more.
No Lock-in Period: Contrary to mounted deposits, you are able to withdraw your hard earned money whenever without penalty.
Regular Interest Credit history: Curiosity is credited every month, making it possible for your financial savings to improve steadily.
How It Works
Opening an Account:

You'll want to be a minimum of eighteen years outdated.
Both citizens and non-people can open an account with needed identification files.
Depositing Cash:

You may deposit money into your UOB Stash Account by way of many strategies for instance on-line transfers, ATM deposits, or in excess of-the-counter in a department.
Earning Interest:

The curiosity fee may differ based on the sum of money as part of your account. For example:
Balances around $10,000 could get paid a foundation rate.
Larger balances could receive progressively better fees Based on predefined tiers set by UOB.
Withdrawing Cash:

Withdrawals could be manufactured whenever by ATMs, on the net banking, or at branches without the need of influencing the accrued desire for that thirty day period.
Rewards
Versatility: Accessibility your money Every time essential with no shedding out on accrued curiosity.
Greater Financial savings Development Potential: Earn more compared to frequent price savings accounts resulting from tiered fascination charges.
Comfort: website Manage your account conveniently by means of UOB’s digital platforms or physical branches.
Simple Illustration
Picture you have just opened a UOB Stash Account and deposited $five,000 originally:

In the very first thirty day period:
Your stability earns an Original foundation interest amount (say 0.5%).
Eventually while you add additional money:
If your harmony reaches $twenty,000 in six months resulting from constant deposits,
Your new tier could possibly supply the next curiosity level (e.g., 1%).
This fashion, not just does the principal total expand with Each individual deposit but additionally the acquired interest compounds more rapidly as a consequence of escalating fees tied straight with much larger balances.

By understanding these basic components of how a UOB Stash Account functions and its Positive aspects, You will be better equipped to generate educated conclusions about managing and developing your discounts competently!