Are you looking to open a savings account in Singapore with great benefits and high interest rates? Look no further than the UOB One Savings Account. With a UOB One Savings Account, you can earn up to 7.8% p.a. interest and enjoy a range of exclusive benefits.
To help you get started, we have put together this guide on how to apply for a UOB One Savings Account in Singapore. We will cover the eligibility criteria, account features and benefits, how to apply, managing your account, fees and charges, and how to maximise your savings. Whether you are a first-time saver or a seasoned investor, this guide will provide all the information you need to open a UOB One Savings Account and start saving today.
Key Takeaways
- The UOB One Savings Account offers high interest rates and exclusive benefits.
- To open a UOB One Savings Account, you must meet the eligibility criteria and complete the application process.
- Once you have opened your account, you can manage your savings, maximise your interest earnings, and get assistance from UOB’s customer support team.
Understanding the UOB One Savings Account
If you are looking to earn higher interest on your savings, then the UOB One Savings Account might be the perfect option for you. This savings account offers a bonus interest rate when you meet certain criteria, allowing you to earn more on your savings.
The UOB One Savings Account is a type of savings account offered by UOB Bank in Singapore. It is designed to help you earn higher interest rates on your savings. To earn the bonus interest rate, you need to meet two criteria: credit your salary and make at least three purchases on your UOB One Card.
The UOB One Savings Account offers a tiered interest rate structure. This means that the more money you save, the higher the interest rate you can earn. The interest rate varies based on your account balance and the number of transactions you make with your UOB One Card.
To help you understand the interest rate structure better, here is a table that shows the different interest rates you can earn based on your account balance and the number of transactions you make:
| Account Balance | Transactions | Base Interest Rate | Bonus Interest Rate | Total Interest Rate |
|---|---|---|---|---|
| Less than SGD 15,000 | 3 | 0.05% p.a. | 0.05% p.a. | 0.10% p.a. |
| SGD 15,000 to less than SGD 30,000 | 3 | 0.10% p.a. | 0.10% p.a. | 0.20% p.a. |
| SGD 30,000 to less than SGD 50,000 | 3 | 0.15% p.a. | 0.10% p.a. | 0.25% p.a. |
| SGD 50,000 and above | 3 | 0.25% p.a. | 0.15% p.a. | 0.40% p.a. |
As you can see from the table, the more money you save and the more transactions you make, the higher the interest rate you can earn.
In summary, the UOB One Savings Account is a great option if you are looking to earn higher interest rates on your savings. By meeting the criteria, you can earn bonus interest rates on top of the base interest rate. With its tiered interest rate structure, you can earn even higher interest rates as you save more money and make more transactions.
Eligibility Criteria
To apply for a UOB One Savings Account in Singapore, you need to meet certain eligibility criteria. Let’s take a look at the requirements for Singaporeans and PRs, as well as for foreigners.
Requirements for Singaporeans and PRs
To be eligible for a UOB One Savings Account, you must be a Singaporean or a Permanent Resident (PR) of Singapore. You must also be at least 18 years old and have a minimum initial deposit of S$500. Additionally, you need to have a valid identification document, such as your NRIC or passport.
Requirements for Foreigners
If you are a foreigner looking to open a UOB One Savings Account in Singapore, you must have a valid work permit or employment pass. You must also be at least 18 years old and have a minimum initial deposit of S$500. In addition, you will need to provide the following documents:
- A copy of your passport
- A copy of your work permit or employment pass
- Proof of address, such as a utility bill or bank statement
It’s important to note that the eligibility criteria may vary depending on your specific situation. For example, if you are a foreigner who is not employed in Singapore, you may still be able to open a UOB One Savings Account if you have a minimum deposit of S$1,000.
In conclusion, whether you are a Singaporean, PR, or foreigner, there are certain requirements that you need to meet in order to apply for a UOB One Savings Account. Be sure to check the eligibility criteria carefully before you apply to ensure that you meet all the necessary requirements.
Account Features and Benefits
Are you thinking about opening a UOB One Savings Account in Singapore? Here are some of the exciting features and benefits you can expect:
Interest Rates and Savings Tiers
The UOB One Savings Account offers one of the highest interest rates in Singapore. You can earn up to 2.50% p.a. interest on your savings, depending on your account balance and monthly credit card spend. To maximize your interest rate, you need to maintain a minimum balance of S$500 and spend at least S$500 on your UOB One Credit Card each month.
UOB One Debit and Credit Cards
When you open a UOB One Savings Account, you will also receive a UOB One Debit Card and UOB One Credit Card. The UOB One Credit Card offers up to 5% cashback on all your spend, including groceries, dining, and online shopping. You can also enjoy up to 10% cashback on your Grab rides and food orders. Plus, you can earn up to 3.88% p.a. interest on your credit card balance when you credit your salary to your UOB One Account.
Additional Perks and Offers
As a UOB One Savings Account holder, you can enjoy a range of additional perks and offers. For instance, you can get up to 10% cashback on your insurance premiums when you pay with your UOB One Credit Card. You can also get up to 50% off your dining bills at selected restaurants in Singapore. If you are a UOB Lady’s Card or UOB Lady’s Solitaire Card holder, you can enjoy exclusive discounts and privileges at over 1,000 merchants in Singapore.
In addition, UOB One Savings Account holders can enjoy a range of services, such as online banking, mobile banking, and SMS banking. You can also access your account through any of UOB’s extensive network of ATMs, branches, and self-service banking machines.
Overall, the UOB One Savings Account is a great choice if you are looking for a high-interest savings account that comes with a range of exciting benefits and offers.
How to Apply
Applying for a UOB One savings account is quick and easy. You have two options: online account opening or in-branch application process.
Online Account Opening
If you prefer the convenience of applying online, you can do so through the UOB website or the UOB TMRW app. Here’s how:
- Visit the UOB One Account page and click on the “Apply Now” button.
- Fill in the online application form with your personal details and select the UOB One savings account option.
- Provide the required documents, such as your NRIC or passport, and follow the instructions to complete the application process.
- Once your application is approved, you will receive your UOB One savings account number and other important details via email.
In-Branch Application Process
If you prefer a more personal touch, you can visit any UOB branch to apply for a UOB One savings account. Here’s what you need to do:
- Bring along your NRIC or passport and proof of address, such as a utility bill or bank statement.
- Inform the UOB customer service representative that you want to open a UOB One savings account.
- Fill in the application form with your personal details and submit the required documents.
- Once your application is approved, you will receive your UOB One savings account number and other important details.
Whether you choose to apply online or in-branch, the application process is straightforward and hassle-free. With UOB’s excellent customer service, you can be assured that your application will be processed quickly and efficiently.
Managing Your Account
Once you have successfully applied for a UOB One Savings Account, it is important to know how to manage your account effectively. This section will guide you through the various ways in which you can manage your account.
UOB TMRW and Internet Banking
One of the most convenient ways to manage your UOB One Savings Account is through the UOB TMRW app and Internet Banking. With these platforms, you can easily check your account balance, view transactions, and transfer funds. You can also set up GIRO transactions and PayNow services, making it easy to pay bills and transfer money to other accounts.
To get started with UOB TMRW, simply download the app from the App Store or Google Play and register for an account. Once you have signed up, you can link your UOB One Savings Account to the app and start managing your account on-the-go.
Internet Banking is another great option for managing your UOB One Savings Account. With Internet Banking, you can access your account from your computer or mobile device. You can view your account balance, transaction history, and transfer funds to other accounts. You can also set up GIRO transactions and PayNow services through Internet Banking.
Deposits and Withdrawals
Depositing and withdrawing funds from your UOB One Savings Account is easy and convenient. You can make deposits and withdrawals at any UOB branch or ATM. You can also deposit funds through Internet Banking or the UOB TMRW app.
To make a deposit, simply visit a UOB branch or ATM and follow the instructions on the screen. You can also deposit funds through Internet Banking or the UOB TMRW app. To make a withdrawal, visit a UOB branch or ATM and follow the instructions on the screen.
It is important to note that there may be fees associated with certain types of deposits and withdrawals. Be sure to check with UOB for more information on fees and charges.
In summary, managing your UOB One Savings Account is easy and convenient. With the UOB TMRW app and Internet Banking, you can easily check your account balance, view transactions, and transfer funds. Depositing and withdrawing funds is also easy and can be done at any UOB branch or ATM.
Fees and Charges
When opening a UOB One Savings Account, it’s important to be aware of the fees and charges that come with it. This section will give you a breakdown of the fees and charges that you may encounter when opening and maintaining a UOB One Savings Account.
Account Maintenance Fees
There is no monthly account fee for the UOB One Savings Account. However, there is a fall-below fee of S$5 per month if your account balance falls below S$500. To avoid this fee, make sure to maintain a minimum balance of S$500 in your account.
Transaction and Service Fees
Here are some of the transaction and service fees that you may encounter when using your UOB One Savings Account:
- Early account closure fee: If you close your account within 6 months of opening it, you will be charged an early account closure fee of S$30.
- Chequebook fee: If you require a chequebook, you will be charged a fee of S$10.
- ATM fees: UOB One Savings Account holders are entitled to 8 free ATM withdrawals per month. Subsequent withdrawals will be charged a fee of S$5 per transaction.
- GIRO/Standing Order fees: There are no fees for setting up or amending GIRO/Standing Order instructions.
- Cashier’s Order fee: A fee of S$5 per cashier’s order applies.
- Safe Deposit Box fee: If you require a safe deposit box, you will be charged a fee of S$25 per year.
Overall, the fees and charges associated with a UOB One Savings Account are reasonable and competitive. With no monthly account fee and a low fall-below fee, it’s easy to keep your account in good standing. Just be mindful of the early account closure fee and other transaction and service fees that may apply.
Maximising Your Savings
Are you looking to maximise your savings with UOB One Savings Account? Here are some tips to help you earn higher interest and optimise your credit card usage.
Credit Your Salary and Earn More
Credit your salary into your UOB One Savings Account to earn bonus interest. With a minimum salary credit of S$2,000, you can earn up to 2.50% p.a. on your account balance.
If you have a UOB card, you can earn even more with the UOB Stash Account. Simply maintain or increase your account balance and earn up to S$3,000 in interest a year.
Optimising Credit Card Usage
Use an eligible UOB card to earn Uni$ or UNI$ Plus, which can be used to offset your credit card bills or redeemed for rewards.
If you have a UOB Lady’s Credit Card, you can earn up to 10% cashback on your spending. Plus, you can earn up to 2.50% p.a. on your UOB One Savings Account balance when you credit your salary and maintain or increase your account balance.
To optimise your credit card usage, consider using the UOB One Card, which offers up to 5% cashback on all spending categories.
With these tips, you can maximise your savings and earn higher interest with UOB One Savings Account.
Customer Support and Assistance
If you have any questions or concerns about your UOB One Savings Account, don’t hesitate to contact UOB’s customer support team. They are available to assist you with any queries you may have. Here are a few ways you can get in touch with UOB:
Contacting UOB
You can contact UOB’s customer support team by calling their hotline at +65 6222 2121. The hotline is available 24/7, so you can get in touch with them anytime you need assistance. Alternatively, you can also send an email to [email protected] to get your queries answered.
Visiting a Branch or ATM
If you prefer to speak with a UOB representative in person, you can always visit one of their branches or ATMs. UOB has over 40 branches and 400 ATMs located across Singapore, so you’re never too far away from one. You can use their branch locator tool on the UOB website to find the nearest branch or ATM to your location.
When you visit a UOB branch, you can speak with a customer service representative who can assist you with your account-related queries. They can also guide you through the process of opening a new account or applying for additional services.
In conclusion, UOB’s customer support team is always ready to assist you with any queries you may have. Whether you prefer to contact them by phone, email, or in person, they are always available to help you.
Frequently Asked Questions
What’s the thrill of the UOB One Account’s unique features?
The UOB One Account is one of the best savings accounts in Singapore with its unique features that allow you to earn high interest rates on your savings. With the UOB One Account, you can enjoy up to 7.8% p.a. interest on your savings, which is one of the highest rates offered by any bank in Singapore.
Can you believe how quick it is to open a UOB account online?
Yes, it’s true! Opening a UOB account online is quick and easy. You can apply for a UOB One Account online and get approval within minutes. All you need is your NRIC or passport, and you can start saving instantly from the comfort of your home.
What are the essentials for opening a UOB bank account in Singapore?
To open a UOB One Account in Singapore, you need to be at least 18 years old and have a valid NRIC or passport. You also need to have a minimum initial deposit of S$500.
Curious about the minimum balance for a UOB One Account?
To enjoy the high interest rates offered by the UOB One Account, you need to maintain a minimum balance of S$50,000 in your account. However, if you are unable to maintain the minimum balance, you can still earn a base interest rate of 0.05% p.a.
What’s the buzz about the interest rates with a UOB One Account?
The UOB One Account offers one of the highest interest rates in Singapore, with up to 7.8% p.a. interest on your savings. To earn this high interest rate, you need to fulfill certain criteria, such as spending on your UOB One Credit Card and crediting your salary into your UOB One Account.
How much is needed to kick-start your savings with a UOB account?
To kick-start your savings with a UOB One Account, you need to have a minimum initial deposit of S$500. However, if you are a new UOB customer, you can enjoy additional perks such as cashback and bonus interest when you open a UOB One Account.
