uob stash account

uob stash account

Blog Article

This is a financial savings account offered by United Overseas Financial institution (UOB) that encourages people today to save much more by giving better desire fees according to the account stability. Let's break down The important thing functions and Positive aspects that may help you know it improved.

Vital Options
Tiered Fascination Costs: The curiosity charge raises as your account balance grows, rewarding you for preserving additional.
No Lock-in Interval: Unlike preset deposits, you could withdraw your hard earned money whenever with out penalty.
Monthly Desire Credit rating: Interest is credited every month, letting your personal savings to develop steadily.
How It really works
Opening an Account:

You must be a minimum of eighteen a long time old.
Both equally citizens and non-people can open an account with vital identification documents.
Depositing Income:

You are able to deposit dollars into your UOB Stash Account by means of many approaches such as on the net transfers, ATM deposits, or over-the-counter at a department.
Earning Interest:

The curiosity amount varies dependant upon the amount of money with your account. For example:
Balances around $ten,000 might generate a foundation amount.
Greater balances could receive progressively better rates In accordance with predefined tiers established by UOB.
Withdrawing Revenue:

Withdrawals can be created whenever by ATMs, online banking, or at branches with out impacting the accrued fascination for that thirty day period.
Added benefits
Adaptability: Obtain your resources whenever required without having dropping out on gathered fascination.
Increased Discounts Advancement Potential: Earn much more in comparison to typical personal savings accounts as a result of tiered curiosity prices.
Comfort: Handle your account effortlessly via UOB’s electronic platforms or Actual physical branches.
Functional Instance
Envision you've just opened a UOB Stash Account and deposited $five,000 to begin with:

In the primary month:
Your equilibrium earns an First base desire fee (say 0.5%).
Eventually while you include more cash:
Should your balance reaches $twenty,000 inside 6 months as a result of consistent deposits,
Your new tier could possibly offer you a higher fascination price (e.g., one%).
In this way, don't just does the principal volume grow with Just about every deposit but additionally the gained interest compounds speedier because of raising prices tied specifically with bigger balances.

By knowledge these fundamental facets of how a UOB Stash Account works and its Positive aspects, You will be better equipped for making educated decisions about controlling and escalating your financial more info savings proficiently!