uob stash account

uob stash account

Blog Article

This is a price savings account supplied by United Abroad Lender (UOB) that encourages individuals to save much more by supplying increased fascination costs dependant on the account equilibrium. Let us break down The important thing attributes and Rewards that can assist you realize it greater.

Essential Functions
Tiered Curiosity Prices: The desire amount boosts as your account stability grows, gratifying you for preserving extra.
No Lock-in Period of time: Not like set deposits, you are able to withdraw your hard earned money whenever with out penalty.
Monthly Fascination Credit score: Interest is credited regular, making it possible for your financial savings to mature steadily.
How It really works
Opening an Account:

You have to be not less than 18 decades previous.
Both inhabitants and non-residents can open an account with necessary identification paperwork.
Depositing Money:

It is possible to deposit money into your UOB Stash Account by way of numerous procedures like on the net transfers, ATM deposits, or more than-the-counter in a department.
Earning Interest:

The curiosity amount varies dependant upon the amount of money within your account. Such as:
Balances as much as $10,000 could earn a base fee.
Bigger here balances could earn progressively larger premiums according to predefined tiers set by UOB.
Withdrawing Funds:

Withdrawals might be built at any time via ATMs, on the internet banking, or at branches devoid of influencing the accrued desire for that thirty day period.
Gains
Flexibility: Access your funds Anytime necessary with no dropping out on accrued curiosity.
Larger Personal savings Progress Likely: Receive far more when compared to common discounts accounts resulting from tiered fascination costs.
Ease: Control your account very easily by way of UOB’s electronic platforms or Bodily branches.
Useful Instance
Imagine you have got just opened a UOB Stash Account and deposited $five,000 originally:

In the very first thirty day period:
Your harmony earns an initial foundation curiosity rate (say 0.five%).
After a while as you increase a lot more funds:
In the event your stability reaches $twenty,000 in six months because of dependable deposits,
Your new tier may possibly provide an increased curiosity level (e.g., 1%).
This fashion, not merely does the principal amount increase with Every deposit but will also the earned fascination compounds faster resulting from growing costs tied directly with more substantial balances.

By understanding these elementary components of how a UOB Stash Account operates and its Added benefits, you'll be far better Outfitted to make informed choices about taking care of and growing your cost savings successfully!