uob stash account

uob stash account

Blog Article

It is a cost savings account supplied by United Abroad Financial institution (UOB) that encourages men and women to avoid wasting far more by giving increased curiosity prices depending on the account stability. Let us stop working The crucial element characteristics and Positive aspects that can assist you are aware of it much better.

Key Options
Tiered Fascination Charges: The interest amount will increase as your account balance grows, worthwhile you for conserving much more.
No Lock-in Interval: Not like set deposits, you can withdraw your cash anytime without the need of penalty.
Regular monthly Interest Credit rating: Interest is credited regular, enabling your savings to increase steadily.
How It really works
Opening an Account:

You should be at least 18 decades previous.
Both equally residents and non-inhabitants can open up an account with essential identification paperwork.
Depositing Money:

It is possible to deposit revenue into your UOB Stash Account by means of many techniques for instance online transfers, ATM deposits, or above-the-counter in a department.
Earning Interest:

The interest fee may differ based on the sum of money as part of your account. Such as:
Balances as much as get more info $10,000 may possibly gain a foundation rate.
Greater balances could generate progressively increased premiums according to predefined tiers set by UOB.
Withdrawing Cash:

Withdrawals may be created whenever by way of ATMs, on the net banking, or at branches without the need of influencing the accrued desire for that thirty day period.
Added benefits
Adaptability: Entry your cash When wanted devoid of shedding out on gathered curiosity.
Larger Cost savings Development Possible: Make more compared to regular price savings accounts as a consequence of tiered fascination charges.
Comfort: Manage your account conveniently by means of UOB’s digital platforms or physical branches.
Realistic Illustration
Envision you have just opened a UOB Stash Account and deposited $five,000 at first:

In the first thirty day period:
Your stability earns an Original base desire fee (say 0.5%).
After some time as you increase far more funds:
If the stability reaches $twenty,000 inside 6 months as a result of dependable deposits,
Your new tier may possibly offer an increased interest fee (e.g., one%).
In this way, don't just does the principal volume mature with Every single deposit but will also the attained fascination compounds faster on account of increasing charges tied instantly with bigger balances.

By knowledge these essential elements of how a UOB Stash Account will work and its benefits, you'll be much better Outfitted for making educated decisions about handling and increasing your price savings efficiently!