UOB One vs OCBC 360: How Will the New Interest Rate Drop from May 2025 Affect Your Savings? 📉

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🔴 Important Update: Interest Rate Changes for UOB One & OCBC 360
Starting 1 May 2025, both UOB One and OCBC 360 accounts will reduce their interest rates. If you are using these accounts to grow your savings, here’s what you need to know.

1️⃣ UOB One Account – New Interest Rates
📌 Current (Until 30 Apr 2025): 4.0% p.a. on the first S$150K
📌 New (From 1 May 2025): 3.3% p.a. on the first S$150K
💰 Requirements to earn the max rate:
✔️ Salary Credit: S$1,600/month
✔️ Card Spend: S$500/month
📜 Official Notice: https://www.uob.com.sg/assets/web-resources/personal/pdf/save/everyday-accounts/revision-of-interest-rates-for-uob-one-account.pdf
📊 Effective Interest Rate (EIR) Calculation:
* S$150K Balance → 3.3% p.a.
* S$100K Balance → 2.68% p.a.

2️⃣ OCBC 360 Account – New Interest Rates
📌 New EIR (From 1 May 2025): 3.3% p.a.
💰 Requirements to earn the max rate:
✔️ Salary Credit: S$1,800/month
✔️ Save More: S$500 incremental per month
✔️ Card Spend: S$500 on selected OCBC credit cards
📜 Official Notice: https://www.ocbc.com/personal-banking/notices
📊 Comparison by Balance Size:
💵 S$100K Balance → OCBC 360 (3.3% p.a.)
💵 S$150K Balance → UOB One (3.3% p.a. base, up to 4.1% p.a. with promotions)

3️⃣ How to Maximize Your Returns?

✅ UOB Quarterly Savings Promo – Cash is King Bonanza
* Bonus: S$500 for fresh S$150K deposit (~0.8% p.a. extra!)
* Hold Period: Approx. 5 months🔗 Sign Up Here: https://forms.uob.com.sg/personal/save/savings-festival.html

✅ UOB One Account Tax Saver
* 6% rebate on tax payments via GIRO
* Monthly rebate cap based on MAB
* Example: For S$150K MAB → S$50 monthly rebate🔗 Details Here: https://www.uob.com.sg/personal/save/one-account-tax-saver.page

📢 Next Steps
* Compare these new interest rates and decide which account suits you best.
* Consider UOB’s additional promotions to offset the rate cut.
* Stay tuned for my next Cash Strategy Video: CASH+1 for more alternatives.

#NotSponsored