Guide: How to Get 5% P.A. Interest With UOB One Account

If you haven’t been paying attention, UOB One Account has been giving relatively easy 5% p.a. interest for an account balance of S$100,000 or around 4% p.a. if your balance is lower at around S$75,000. You can tap here for a review, but you can be assured that it is probably one of the best bank accounts now given its high rates and pretty straightforward requirements.

Here’s a guide on how to maximise your interest from this account easily:

Step-by-step guide

1st Day of MonthMaintain S$100,000
(or as much as possible)
During the Month Credit salary of at least S$1,600 within the month (either actual salary, or using workaround)

You may also withdraw it to maintain an average balance of S$100,000
Spend at least S$500 of qualifying transactions on an eligible card
(UOB EVOL for cashback or UOB Lady’s for ladies who want miles)
Please check the UOB One Account’s tracker to ensure you have met the requirements for the month
Last Day of the MonthOptional: transfer out interest to maintain S$100,000 amount
2nd/3rd Day of Following MonthOptional: transfer out bonus interest to maintain S$100,000 amount 

Optimal bank balance

The UOB One Account requires just two requirements to be fulfilled, and gives the most interest on the last S$25,000 of a S$100,000 balance. The optimal amount to put is hence S$100,000 as you will get the maximum interest rate of 5% p.a. here.

Otherwise, here are some interest rates you can expect from the account for lower bank balances:

Account Monthly Average Balance (MAB)Spend + GIROSpend + Salary
$25,0002.50% p.a.3.85% p.a.
$50,0002.70% p.a.3.87% p.a.
$75,0003.00% p.a.4.07% p.a.
$100,0002.26% p.a.5.00% p.a

Few things can match UOB One’s 5% p.a. rate, so try to max this out if possible.

Salary crediting workaround

To get decent returns from the bank account, you must spend a minimum of S$500 with each calendar month and credit a salary of at least S$1,600.

I have already written an article on how to get around the salary requirement, and you can find the article here:

Spending requirement

There are currently no known hacks for the spend requirement of UOB One Account (subscribe to the Telegram for updates if any workaround is found). Even services like ipaymy or CardUp are excluded, unfortunately, so spending needs to be from retail spend.

Fortunately, UOB EVOL and UOB Lady’s Cards are both excellent credit cards that are eligible for the account’s spend requirement. S$500 of spend should not be too difficult for many people to achieve, and do note that the amount is to be spent within a calendar month.

While insurance premiums do not get any credit card rewards, they count towards the UOB One Account’s spend requirement, so that might help if you have policies to be paid monthly.

Interest payment

Interest is paid at the end of each calendar month.

Bonus interest is typically paid on the 2nd or 3rd day of the following month.


UOB One Account has a tracker that only appears in the mobile app.

Tap UOB One Account → Details → View activities

The tracker takes 1 to 2 days to update.


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Frequently asked questions

Q: I only got a few dollars of interest!

If you have completed the requirements, your bonus interest will come in around the 2nd or 3rd day of the following month.

Q: The terms and conditions say that FAST transactions are EXCLUDED for the salary requirement!!!

Any FAST or PayNow transfer with Salary tagged as the payment purpose works for UOB One Account’s salary requirement. Use the workaround at your own risk.

Q: Does the income I pay to myself using the workaround count as taxable income?

If transferring yourself money counts as taxable income, your outgoing transfer should rightfully count as deductible expense. That should lead to a zero net income from this arrangement.

I don’t think IRAS is concerned about “income” that are not actual income, but only they can answer you for sure.

Q: The tracker isn’t moving oh my god the salary workaround doesn’t work

Wait 1-2 days.

Q: Is the salary workaround still working?

Yes. Subscribe to the Telegram channel for updates.

Q: I made a spend but the tracker isn’t updated

The transaction has to be posted first (i.e. status is no longer Pending)

Q: Is there a spending workaround

Not that we know of.

Q: Is there an eligible miles card for guys?

Unfortunately not. Update: UOB Ladies card is now available for men to apply.

Q: How is average balance calculated?

Average balance = amount × number of days it’s in your account ÷ number of days in the month

If you place S$100,000 in the bank account for 20 days in a 31-day month, just take S$100,000 ÷ 31 × 20 = S$64,516

Q: Can I withdraw the salary on the same day?

Yes it should work. Check back in the tracker after 1-2 days to see if it is updated.

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