5.94% p.a With UOB Savings Promo! But Consider This Instead
UOB’s Q3 promo can offer up to 5.94% p.a. when coupled with their UOB One account, but is this automatically the best place we can put our funds?
Here’s my look at the different tiers of the promo:
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Seth Wee was a licensed financial adviser representative from 2009 to 2025, with over 16 years of experience in Singapore’s financial advisory industry.
He started Sethisfy.com in 2019 to share practical insights on credit cards, banking products, and miles strategies, helping readers identify financial products that deliver the best value. Seth has been featured in CNA, Channel 8, Today, and a host of other publications. In 2025, he was also part of a panel at CPF’s Ready For Life festival.
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hi, I find it strange the way you calculated the total interest earned.
Take example of $150k,
Existing $150k earning 4% in UOB oneaccount for period of 4.5mths get = $2250
Additional new $150k during the promo period 4.5 mths will get = $1100
So, total interest earned during this 4.5mths with a total principal of $300k = $2250+1100 = $3350…. the effective interest rate is only 2.97%
You can’t just add 4%+1.94%=5.94%
It is assuming the optimal scenario i.e. entire $150,000 is fresh abs transferred to an empty account