Zyane Tan is an editor at Finder. An experienced copywriter and content creator, Zyane enjoys writing on a wide array of subjects. When she’s not busy typing away, she’s reading and musing over a pint.
How does the KrisFlyer UOB account work?
Designed for mile chasers, the KrisFlyer UOB Deposit Account offers the opportunity to earn up to 6.4 KrisFlyer miles per $1 spend on top of its prevailing base interest rate.
Compared to other bonus interest or high yield savings accounts, the KrisFlyer UOB Deposit Account does not have a complicated set of requirements to unlock the bonuses. Simply maintain a low monthly average balance and charge your day-to-day shopping expenses to 1 of the eligible UOB cards to qualify.
Take a closer look at how you can earn bonus miles with this account.
How to earn bonus KrisFlyer Miles
Image source: UOB
Earn bonus KrisFlyer miles on top of the base earn rate (0.4 miles per $1) by fulfilling the following criteria:
5 bonus miles per $1 spend. Charge your expenses on any eligible UOB credit cards and maintain a monthly average balance of at least $1,000.
6 bonus miles per $1 spend. Charge your expenses on any eligible UOB credit cards, maintain a monthly average balance of at least $1,000 and credit your salary (minimum $2,000 per month).
Do note that KrisFlyer miles are awarded for every $5 of the monthly sum of your eligible transactions. Also, bonus miles are capped at 5% of your average monthly account balance (for example, 1,000 maximum bonus miles for a monthly average balance of $20,000).
Eligible cards include:
KrisFlyer UOB Debit Card. Earn 0.4 miles per $1 spent locally and overseas, with no minimum spend requirements. Cardholders can also enjoy a host of other benefits, such as travel perks and up to 10% SMART$ rebates at hundreds of merchants island-wide.
KrisFlyer UOB Credit Card. Get up to 3 KrisFlyer miles per $1 spend on your day-to-day purchases and benefit from exclusive privileges from KrisShop, Kris+ Singapore Airlines, Scoot and more.
UOB PRVI Miles Card. Earn up 1.4 miles per $1 spent locally, 2.4 miles overseas, and up to 6 miles on major airlines and hotels via selected online travel partners.
UOB Visa Infinite Metal Card. Receive up to 25,000 welcome miles (UNI$12,500) and access a wide range of dining, golf, travel, shopping privileges with UOB’s iconic metal-finish prestige card.
UOB Privilege Banking Card. Receive 60,000 miles with paid annual card membership fee, 2 miles per $1 spent on overseas dining and retail, plus 1.2 miles for every $1 on all other spend with the UOB Privilege Banking Card. Cardholders can also access a wide array of exclusive perks, including 24-hour concierge, 1-for-1 dining deals and more.
UOB Reserve Card. An invite-only credit card offering exclusive benefits and customised services for high net-worth individuals.
Example: How to calculate mile earnings for KrisFlyer UOB account
To give you a better understanding on how many bonus miles you can earn, we’ve illustrated the miles calculation in these 2 examples:
Example 1 (with salary credit)
Example 2 (without salary credit)
Monthly card spend
$500
$1,000
Monthly average balance (MAB)
$10,000
$100,000
Bonus miles cap (5% of MAB)
$10,000 x 5% = 500 miles
$100,000 x 5% = 5,000 miles
Salary credit (minimum $2,000)
Yes
No
Base KrisFlyer miles
$500 x 0.4 = 200 miles
$1,000 x 0.4 = 400 miles
Bonus KrisFlyer miles
$500 x 6 = 3,000 miles (capped at 500 miles)
$1,000 x 5 = 5,000 miles (capped at 5,000 miles)
Total KrisFlyer miles earned
200 base miles + 500 bonus miles = 700 miles
400 base miles + 5,000 bonus miles = 5,400 miles
Effective miles earn rate
700 (total miles earned) / $500 (monthly card spend) = 1.4 miles
5,400 (total miles earned) / $1,000 (monthly card spend) = 5.4 miles
* This is a fictional, but realistic, example.
Key features
Bonus miles. Get up to 6 bonus miles on top of the base earn rate (0.4 miles per $1 spend) when you meet certain requirements: Spend on eligible UOB credit cards, maintain a minimum $1,000 monthly average balance and salary credit (at least $2,000 monthly).
Minimal fees. The account doesn’t charge any opening, monthly and maintenance fees. However, a $2 fall-below fee will apply if your average daily balance falls below $1,000.
KrisFlyer UOB Mighty FX. Link your KrisFlyer UOB Deposit Account with Mighty FX to enjoy competitive exchange rates without any administration fees.
Chequing facility. The KrisFlyer UOB Deposit Account comes with an optional cheque book facility, which allows you to draw and issue Singapore dollar cheques on the account.
Exclusive perks. Enjoy enhanced privileges, benefits and boarding benefits such as complimentary priority check-in, additional baggage allowance, seat selection and miles validity extension.
Interest rates and fees
Interest structure
The KrisFlyer UOB Deposit Account offers a base interest of 0.05% p.a. on your entire account balance.
Fees
The KrisFlyer UOB Deposit Account doesn’t charge any opening, monthly and maintenance fees.
Here are some other account-related fees to take note of:
Fall below fee. S$2 if the minimum average daily balance falls below S$1,000.
Cheque book. $10 per cheque book.
Early account closure. S$30 if the account is closed within 6 months from its opening date.
Debit card annual fee. The KrisFlyer UOB debit card comes with an annual fee of $53.50 p.a. (including GST). Waived for the first year.
Credit card annual fee. The KrisFlyer UOB credit card comes with an annual fee of $192.60 p.a. (including GST). Waived for the first year.
Pros and cons
Pros
Simple criteria for bonus miles. Get up to 6 bonus miles per $1 spend with the KrisFlyer UOB Deposit Account by fulfilling a few simple requirements.
Additional miles from FX conversion/spend. Earn 200 KrisFlyer miles (on top of base and bonus miles) with every conversion of $1,000.
Wide range of travel perks. Both the KrisFlyer UOB debit card and KrisFlyer UOB credit card comes with a wide array of privileges and benefits designed for frequent travellers.
Cons
Low interest rate. The interest rate for this account is only 0.05% p.a., without any bonus interest earn opportunities.
Earn cap for bonus miles. The maximum bonus miles you can earn is 5% of your account’s monthly average balance. For example, if your monthly average balance is $10,000, you’ll only be eligible to earn up to 500 bonus miles for that month.
How to sign up
To begin your application for the KrisFlyer UOB Deposit Account, simply head to the account page and click on the “Apply now” button. Before applying, you should make sure that you meet the eligibility criteria and have the required documents on hand.
Do note that this account requires a minimum initial deposit of $1,000.
Eligibility
To apply for the KrisFlyer UOB Deposit Account, you must be:
A Singaporean, Singapore PR or foreigner with a valid visa
At least 18 years old
Required documents
If you’re a new UOB customer, you should have the following documents on hand to speed up your application:
Singaporeans and permanent residents
Front and back photocopy of your NRIC/passport
Proof of residential address (if it’s different from the one in your NRIC)
Income documents (for example, latest computerised payslip, latest 6 months’ CPF contribution history statement, latest Income Tax Notice of Assessment)
Foreigners
Valid passport (at least 6 months validity)
Proof of employment/study or visit pass
Proof of residential address such as a utility bill, telco bill, bank statement or letter from government bodies dated within the last 3 months
Income documents (for example, latest computerised payslip, latest 6 months’ CPF contribution history statement, latest Income Tax Notice of Assessment)
Online application process
Click on the “Apply now” button on the KrisFlyer UOB Account page.
Select another banking product to apply at the same time (optional). If not, click “Next” to proceed.
Choose your preferred mode of application: bank details (for existing UOB customers) or MyInfo (for new UOB customers).
Upload any necessary documents and submit your application.
Allow time for UOB to get in touch with further instructions.
The verdict
Built for frequent fliers, the KrisFlyer UOB account comes with one of the best miles earn rates when combined with the KrisFlyer UOB credit/debit card.
Cardholders can accrue miles (instead of bonus interest rates that are typically offered by other savings accounts in Singapore) from their daily spending, which can be used to redeem flights, rewards and other perks offered by Singapore Airlines’ frequent flyer programme.
However, there are a few caveats that you’ll need to look out for. One of them is its incredibly low base interest rate, which is only 0.05% p.a. Secondly, you’ll also need to have a large balance to earn more bonus miles, since the extra miles are capped at 5% of your account’s monthly average balance.
So before you rush into signing up for a KrisFlyer UOB Deposit Account, consider if the value it offers in miles is more than the potentially higher interest you can earn from other bonus saver accounts.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
Disclaimer: Interest rates are applicable for deposits between S$1,000 and S$49,999. Interest rate and initial deposit are shown in Singapore dollars.
Please check with the provider for deposits and rates in other amounts and currencies.
Frequently asked questions
The SWIFT/BIC code for UOB bank is UOVBSGSG.
All miles earned from your KrisFlyer UOB Deposit Account and eligible UOB credit cards will be credited directly to your KrisFlyer membership account at the end of each calendar month. Hence, there’ll be no account linkage, application or conversion fees required.
Yes, the KrisFlyer UOB Deposit Account can be opened jointly to manage shared finances.
How likely would you be to recommend finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Advertiser Disclosure
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
