uob stash account

uob stash account

Blog Article

This is a price savings account offered by United Overseas Lender (UOB) that encourages individuals to save lots of extra by featuring bigger desire premiums based upon the account harmony. Let's stop working the key options and Gains to assist you to realize it greater.

Crucial Attributes
Tiered Desire Costs: The curiosity rate boosts as your account stability grows, rewarding you for conserving much more.
No Lock-in Interval: Not like set deposits, you could withdraw your cash anytime devoid of penalty.
Month to month Desire Credit score: Desire is credited month to month, allowing your discounts to develop steadily.
How It really works
Opening an Account:

You have to be no less than 18 several years aged.
The two people and non-residents can open an account with important identification documents.
Depositing Income:

You could deposit cash into your UOB Stash Account by various procedures like on the web transfers, ATM deposits, or around-the-counter at a branch.
Earning Curiosity:

The fascination level varies with regards to the amount of cash in the account. For instance:
Balances approximately $ten,000 could earn a base price.
Larger balances could receive progressively better fees In line with predefined tiers established by UOB.
Withdrawing Income:

Withdrawals is often built at any time as a result of ATMs, online banking, or at branches with out affecting the accrued interest for that thirty day period.
Benefits
Adaptability: Obtain your resources When wanted devoid of shedding out on gathered curiosity.
Greater Financial savings Development Possible: Earn more compared to frequent price savings accounts resulting from tiered fascination charges.
Comfort: Manage your account conveniently through UOB’s digital platforms or Actual physical branches.
Functional Instance
Imagine you may have just opened a UOB Stash Account and deposited $5,000 initially:

In the 1st month:
Your equilibrium earns an Preliminary foundation fascination rate (say 0.five%).
As time passes when you incorporate more cash:
In case your harmony reaches $20,000 in six months resulting from constant deposits,
Your new tier could possibly supply the next curiosity amount (e.g., 1%).
Using this method, not only does the principal volume grow with Every single deposit but also the attained fascination compounds quicker on account of increasing charges tied specifically with bigger balances.

By comprehension these essential aspects of how a UOB Stash Account here functions and its Positive aspects, You will be better equipped to generate knowledgeable conclusions about managing and expanding your personal savings successfully!