uob stash account

uob stash account

Blog Article

It's really a personal savings account made available from United Abroad Financial institution (UOB) that encourages people today to save lots of additional by presenting better fascination charges based upon the account harmony. Let's stop working the key options and Added benefits to assist you to realize it superior.

Essential Attributes
Tiered Interest Rates: The fascination fee will increase as your account balance grows, rewarding you for preserving additional.
No Lock-in Period of time: As opposed to fixed deposits, you could withdraw your cash at any time with no penalty.
Month-to-month Desire Credit score: Fascination is credited month-to-month, allowing for your personal savings to develop steadily.
How It really works
Opening an Account:

You have to be not less than 18 decades old.
Both equally residents and non-inhabitants can open up an account with needed identification files.
Depositing Cash:

You may deposit money into your UOB Stash Account by way of many techniques for instance online transfers, ATM deposits, or above-the-counter in a department.
Earning Desire:

The interest price differs depending upon the amount of money inside your account. By way of example:
Balances nearly $ten,000 may generate a base fee.
Better balances could get paid progressively higher prices In line with predefined tiers set by UOB.
Withdrawing Income:

Withdrawals check here is often built at any time through ATMs, on-line banking, or at branches without having affecting the accrued curiosity for that month.
Advantages
Flexibility: Access your funds Any time desired without the need of getting rid of out on amassed fascination.
Increased Personal savings Progress Prospective: Generate much more in comparison to regular price savings accounts as a consequence of tiered curiosity prices.
Convenience: Regulate your account conveniently through UOB’s digital platforms or Actual physical branches.
Functional Instance
Imagine you have got just opened a UOB Stash Account and deposited $5,000 initially:

In the main thirty day period:
Your balance earns an First base desire charge (say 0.five%).
After a while as you insert much more resources:
Should your equilibrium reaches $20,000 within six months due to reliable deposits,
Your new tier may well give a better interest fee (e.g., one%).
In this way, not only does the principal volume grow with Every single deposit but also the acquired desire compounds more quickly as a consequence of escalating premiums tied straight with more substantial balances.

By understanding these basic components of how a UOB Stash Account works and its Positive aspects, You will be better equipped to generate educated conclusions about handling and increasing your price savings efficiently!