uob stash account

uob stash account

Blog Article

It is just a savings account offered by United Abroad Lender (UOB) that encourages people today to save lots of far more by giving increased curiosity prices according to the account balance. Let us break down The main element attributes and benefits to help you know it superior.

Essential Features
Tiered Desire Costs: The interest amount will increase as your account balance grows, fulfilling you for saving much more.
No Lock-in Time period: Unlike fastened deposits, you are able to withdraw your hard earned money anytime without the need of penalty.
Monthly Curiosity Credit history: Curiosity is credited every month, making it possible for your savings to increase steadily.
How It really works
Opening an Account:

You should be at least 18 yrs old.
Equally people and non-residents can open an account with important identification files.
Depositing Cash:

You may deposit money into your UOB Stash Account by means of several methods for example online transfers, ATM deposits, or above-the-counter in a department.
Earning Desire:

The desire price differs dependant upon the amount of money in the account. Such as:
Balances as much as $10,000 may well receive a foundation amount.
Larger balances could receive progressively larger costs As outlined by predefined tiers established by UOB.
Withdrawing Dollars:

Withdrawals is usually built at any time as a result of ATMs, online banking, or at branches without affecting the accrued desire for that thirty day period.
Gains
Adaptability: Entry your cash Each time necessary without having dropping out on accumulated desire.
Greater Savings Growth Potential: Earn extra as compared to common personal savings accounts on account of tiered curiosity rates.
Benefit: Take care of your account simply by way of UOB’s electronic platforms or Bodily branches.
Sensible Case in point
Think about you've just opened a UOB Stash Account and deposited $five,000 originally:

In the very first thirty day period:
Your stability earns an Original base desire charge (say 0.five%).
After a while as you insert much more cash:
In case your equilibrium reaches $20,000 inside of 6 months as a result of consistent deposits,
Your new tier may possibly offer click here an increased interest fee (e.g., one%).
In this way, don't just does the principal quantity improve with Every deposit and also the gained interest compounds faster as a result of escalating fees tied straight with much larger balances.

By understanding these basic areas of how a UOB Stash Account works and its Advantages, you'll be superior Geared up to make informed choices about taking care of and escalating your financial savings proficiently!