uob stash account

uob stash account

Blog Article

It is just a cost savings account made available from United Abroad Lender (UOB) that encourages people to avoid wasting far more by presenting bigger desire rates according to the account balance. Let's stop working the key features and benefits to assist you are aware of it far better.

Crucial Functions
Tiered Interest Rates: The desire amount boosts as your account stability grows, gratifying you for saving extra.
No Lock-in Interval: Contrary to mounted deposits, you'll be able to withdraw your money at any time devoid of penalty.
Regular monthly Interest Credit history: Fascination is credited month to month, permitting your financial savings to mature steadily.
How It really works
Opening an Account:

You have to be at least eighteen many years aged.
The two residents and non-inhabitants can open up an account with needed identification documents.
Depositing Income:

You are able to deposit money into your UOB Stash Account by numerous procedures including on line transfers, ATM deposits, or above-the-counter in a branch.
Earning Curiosity:

The fascination rate differs depending on the sum of money as part of your account. For instance:
Balances approximately $ten,000 might receive a foundation level.
Larger balances could gain progressively higher prices As outlined by predefined tiers established by UOB.
Withdrawing Money:

Withdrawals could read more be designed at any time through ATMs, on the internet banking, or at branches with no influencing the accrued fascination for that thirty day period.
Benefits
Flexibility: Access your funds Every time essential devoid of getting rid of out on gathered fascination.
Better Price savings Growth Potential: Earn much more in comparison with typical personal savings accounts resulting from tiered fascination charges.
Ease: Control your account very easily by way of UOB’s digital platforms or Actual physical branches.
Realistic Illustration
Picture you've got just opened a UOB Stash Account and deposited $5,000 in the beginning:

In the 1st month:
Your balance earns an Original base interest amount (say 0.5%).
With time as you increase additional money:
If the harmony reaches $20,000 within just six months as a result of constant deposits,
Your new tier might give a better interest amount (e.g., 1%).
This way, not simply does the principal sum grow with Just about every deposit but in addition the gained curiosity compounds a lot quicker on account of growing premiums tied straight with much larger balances.

By comprehending these elementary aspects of how a UOB Stash Account operates and its Gains, you'll be greater Geared up to create knowledgeable selections about managing and increasing your savings proficiently!