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How does the UOB Stash Account works
The UOB Stash Account is a hassle-free savings account that offers up to 1% p.a. (maximum EIR is 0.58% p.a. for deposits of S$100,000) on your account balance as long as you meet these two simple criteria:
Maintain a monthly average balance (MAB) above $10,000
Maintain or increase your MAB compared to the previous month
How to maximise your interest earn with multiple UOB accounts
Since the maximum balance eligible for bonus interest is capped at S$100,000 for the UOB Stash Account, all other amounts beyond that will only earn a base interest rate of 0.05%.
To maximise your earnings, you can consider parking the rest of your spare cash in another UOB account (e.g. UOB One Account) to earn higher interest.
Alternatively, you can also treat the UOB Stash account as a “fixed deposit” and avoid making any withdrawals so that you can consistently earn the highest bonus interest without worrying about maintaining the MAB.
Bonus interest rates. Unlock higher interest rates by simply maintaining or increasing your MAB compared to the previous month. You need to have at least S$10,000 in your account to qualify for bonus interest earn.
Minimal fees. The account doesn’t charge any opening, monthly and maintenance fees. However, a S$2 fall-below fee will apply if your average daily balance falls below S$1,000.
Quick and easy application. Enjoy a fast and hassle-free account application through Internet banking (for existing UOB customers) or MyInfo (Singaporeans or PRs only).
Up to 3% rebate. Get up to 3% rebate when you spend at Shopee, Cold Storage, Giant, Guardian, 7-Eleven, Grab and more with your UOB One Debit Card, which will be automatically issued to you upon successful application of your UOB Stash Account.
Interest rates and fees
The following interest rates are accurate as of 27 September 2021 and are subject to change:
Base interest (p.a.)
Bonus interest (p.a.)
Total interest (p.a.)
Note: You’ll only be eligible for bonus interest if your account’s MAB for the present calendar month is equal to or more than the MAB for the preceding calendar month.
As for fees, the UOB Stash account doesn’t charge any opening, monthly, and maintenance fees.
However, do note that you’ll need to maintain a minimum monthly average balance of S$1,000 for an automatic waiver of the S$2 monthly fall-below fee. There’ll also be a S$30 penalty if the account is closed within 6 months from account opening.
Pros and cons
Simple bonus interest structure. You’ll not be required to meet any complicated criteria or qualifying monthly spend to accrue interest at boosted rates.
Low eligible age of 15. UOB Stash account offers the opportunity for teenagers as young as 15 to benefit from bonus interest earn – especially those with substantial savings, but unable to meet the bonus interest criteria (e.g. salary credit) or eligibility (to be at least 18 years old) from other high-interest accounts.
Low entry barriers. You’ll only need to maintain a low Monthly Average Balance (MAB) of S$1,000 to enjoy the automatic waiver of the S$2 monthly fall-below fee.
Low interest rates. The base interest rate of this account is only 0.05%, which is incredibly low. Also, the highest interest rate you can unlock with the UOB Stash Account is 1% p.a., which is a lot less competitive than other bonus interest accounts available in the market.
Substantial account balance required for maximum interest rate. You’ll need to deposit and maintain at least S$100,000 in your account to be eligible for the highest interest rate of 1% p.a. This may not be ideal if you foresee a need for a large sum of money within the next 12 months.
No bonus interest for balance below S$10,000 or above S$100,000. Account balance lower than S$10,000, or above S$100,000 will only accrue interest at the prevailing base interest rate.
How to sign up
To begin your application for the UOB Stash Account, simply head to UOB’s website 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. This account also requires an initial deposit of S$1,000.
Do note that the online application process is only available for Singaporeans and PRs. If you’re a foreigner, you’ll need to visit a UOB bank branch in person with the required documents.
To apply for a UOB Stash Account, you must be:
A Singaporean, Singapore PR or foreigner with a valid visa
At least 15 years old
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)
Proof of employment/study or visit pass
Proof of residential address: e.g. utility bills, telco bills, bank statements or letters from government bodies dated within the last 3 months.
Online application process
Click on the ‘Apply now’ button on the UOB Stash account page
Select your preferred mode of application
For existing UOB customers: Click on ‘Apply with bank details’
For new customers with SingPass: Click on ‘Apply with MyInfo’. This will allow you to prefill the application by retrieving personal data from MyInfo
For foreigners: Please visit the nearest UOB bank branch to apply
Fill in the required fields and upload any necessary documents
Submit your application
Allow time for UOB to get in touch with further instructions.
The main draw of the UOB Stash Account is that it offers a somewhat competitive bonus interest rate without requiring any salary credit, investment or minimum spend, as long as you have a minimum balance of S$10,000 in your account and maintain/increase your MAB.
As long as you meet these two simple criteria, it doesn’t matter if you have variable saving habits or can only grow your savings a little every month since the bonuses are applied based on the balance size on a month-to-month basis.
However, do bear in mind that the maximum EIR of 0.58% p.a is only achievable with an account balance of S$100,000 – so this account is more beneficial for those who already have a substantial amount of savings to set aside. But unlike a fixed deposit, the UOB Stash Account is more “liquid” and offers the flexibility for account holders to access their funds at any time without making a long-term commitment.
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.
Yes, the UOB Stash account can be opened jointly to manage shared finances.
The monthly average balance (MAB) is the summation of your account’s daily end balance for each month divided by the number of calendar days in that particular month.
To be eligible for bonus interest on the UOB Stash Account, you’ll need to maintain or increase your MAB. This means that you may also have to restrict your withdrawals and keep tabs on your deposited amount.
If you made a cash withdrawal, simply top up the amount to your account before the month is up to retain the MAB and qualify for bonus interest.
If you have any enquiries, you may reach UOB Bank directly through the following contact details:
24 hours hotline: 1 800 2222 2121
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