uob stash account

uob stash account

Blog Article

It is a savings account supplied by United Overseas Bank (UOB) that encourages people today to save extra by featuring increased desire premiums based on the account equilibrium. Let us stop working The real key options and Gains to help you know it improved.

Critical Capabilities
Tiered Fascination Charges: The interest level boosts as your account stability grows, gratifying you for preserving additional.
No Lock-in Time period: In contrast to preset deposits, you may withdraw your cash anytime devoid of penalty.
Month to month Interest Credit rating: Interest is credited every month, making it possible for your financial savings to mature steadily.
How It Works
Opening an Account:

You might want to be at the least 18 several years old.
Both equally residents and non-inhabitants can open up an account with vital identification paperwork.
Depositing Revenue:

You'll be able to deposit revenue into your UOB Stash Account by means of many strategies which include on the internet transfers, ATM deposits, or around-the-counter at a branch.
Earning Desire:

The interest amount varies with regards to the amount of cash inside your account. One example is:
Balances up to $10,000 may possibly get paid a foundation price.
Larger balances could gain progressively higher prices In line with predefined tiers established by UOB.
Withdrawing Dollars:

Withdrawals can be produced anytime by means of ATMs, on the web banking, or at branches without the need of influencing the accrued desire for that thirty day period.
Benefits
Flexibility: Access your funds Anytime required without having dropping out on accrued curiosity.
Bigger Savings Growth Potential: Earn more compared to regular savings accounts due to tiered desire premiums.
Advantage: Take care of your account simply by means of UOB’s digital platforms or physical branches.
Simple Illustration
Think about you've got just opened a UOB Stash Account and deposited $5,000 in the beginning:

In the 1st month:
Your balance earns an First base fascination more info charge (say 0.five%).
After some time as you increase additional funds:
In the event your harmony reaches $20,000 within just six months as a consequence of reliable deposits,
Your new tier may well give an increased interest amount (e.g., 1%).
In this manner, not just does the principal amount of money expand with Each individual deposit but in addition the gained curiosity compounds a lot quicker as a result of expanding charges tied instantly with bigger balances.

By knowledge these fundamental facets of how a UOB Stash Account works and its Positive aspects, You will be much better Outfitted for making informed choices about controlling and escalating your financial savings proficiently!