uob stash account

uob stash account

Blog Article

It's really a savings account made available from United Overseas Financial institution (UOB) that encourages people to avoid wasting much more by presenting higher curiosity premiums depending on the account harmony. Let us stop working the key functions and Added benefits to help you comprehend it greater.

Critical Options
Tiered Desire Rates: The desire rate increases as your account balance grows, gratifying you for saving much more.
No Lock-in Period: In contrast to fixed deposits, you are able to withdraw your cash anytime with no penalty.
Every month Desire Credit rating: Fascination is credited regular monthly, allowing your personal savings to increase steadily.
How It Works
Opening an Account:

You might want to be not less than 18 decades old.
Both equally inhabitants and non-residents can open up an account with important identification paperwork.
Depositing Cash:

You can deposit dollars into your UOB Stash Account by way of many solutions such as on-line transfers, ATM deposits, or around-the-counter at a branch.
Earning Curiosity:

The curiosity price may differ based on the amount of cash with your account. For instance:
Balances as many as $10,000 may possibly earn a base fee.
Increased balances could generate progressively greater premiums Based on predefined tiers set by UOB.
Withdrawing Money:

Withdrawals might be built at any time via ATMs, online banking, or at branches without having influencing the accrued desire for that thirty day period.
Benefits
Adaptability: Obtain your resources Anytime essential devoid of getting rid of out on accumulated interest.
Better Cost savings Expansion Possible: Generate far more when compared with regular personal savings accounts resulting from tiered desire fees.
Benefit: Manage your click here account easily via UOB’s electronic platforms or Actual physical branches.
Functional Illustration
Visualize you've got just opened a UOB Stash Account and deposited $5,000 initially:

In the very first thirty day period:
Your stability earns an Preliminary base interest level (say 0.five%).
After some time while you increase extra cash:
When your balance reaches $twenty,000 in six months due to dependable deposits,
Your new tier could offer you a greater desire fee (e.g., 1%).
In this manner, not merely does the principal quantity mature with Every single deposit but additionally the earned fascination compounds quicker as a consequence of rising rates tied specifically with greater balances.

By being familiar with these basic components of how a UOB Stash Account performs and its benefits, you'll be improved equipped for making educated choices about taking care of and expanding your discounts efficiently!