UOB One Account Review (Mid-2025): Decent Interest, Promos, and Easy Requirements
UOB One Account has been a very difficult bank account to ignore. At its best, it offered a staggering 5% p.a. interest, and for much of last year it delivered a generous 4% p.a. rate. While the current maximum of 3.3% p.a. may pale in contrast to its older rates, it reflects the reality of today’s interest rate environment.
Even with a reduced interest rate, the account could remain one of the best places to park up to S$150,000 of savings. Stay subscribed for a comparison between different high yield accounts available right now.
Effective interest rates are decent for higher bank balances
The number one thing to look at when it comes to a bank account would be the interest rate it gives. In this regard, UOB One Account offers the following:
| Balance | Interest Rate From 1st May 2025* (p.a.) |
| First S$75,000 | 2.30% |
| Next S$50,000 | 3.80% |
| Next S$25,000 | 5.30% |
| Above S$150,000 | 0.05% |
While it is not uncommon for bank accounts to offer interest in tiers, UOB One Account is perhaps one of the more egregious examples of a “top-heavy” account where higher balances get disproportionately much higher interest.
This results in the account offering effective interest rates between 2.30% to 3.30% p.a. depending on your monthly average balance:
| Monthly Average Balance | Effective Interest Rate From 1st May 2025* (p.a.) | Approx. Monthly Interest |
| $25,000 | 2.30% | S$47.92 |
| $50,000 | 2.30% | S$95.83 |
| $75,000 | 2.30% | S$143.75 |
| $100,000 | 2.68% | S$222.92 |
| S$125,000 | 2.90% | S$302.08 |
| S$150,000 | 3.30% | S$412.50 |
The account is probably not very attractive for people with lower account balances, given that fuss-free accounts can offer around 2% p.a. without conditions. Even at S$100,000, OCBC 360 and Bonus$aver can offer higher interest, so it appears that UOB One is more suited for those who can hit S$150,000, and/or are going to participate in earmark promos.
Nonetheless, interest is credited pretty quickly. The base interest comes in at the end of the calendar month and bonus interest is deposited on the 2nd working day of the following month, making this perhaps the account with the fastest crediting of bonus interest.
UOB One Account’s requirements are pretty easy
Beyond just having competitive interest rates, we need to consider the ease of meeting the criteria set by High Yield Savings Accounts (HYSA). There is no point in having high interest rates if they can only be achieved by onerous requirements and conditions.
To that end, UOB One Account has perhaps the easiest requirements to be met among HYSAs. One just needs to do 2 tasks each month:
- Credit salary of at least S$1,600 or 3 GIRO debit transactions
- Spend at least S$500 on an eligible credit or debit card
You can refer to the guide on UOB One Account here:
UOB One Account’s salary crediting is easy enough to fulfil and even has a well-known workaround that the bank does not seem to bother about. This may well be the one HYSA that does not really require an actual salary credit to unlock higher interest.
In terms of card spend, the account also offers a range of relatively decent cards to pick from. UOB FX+ offers 0 forex fee worldwide, UOB One and UOB EVOL can get pretty alright cashback when used optimally, and UOB Lady’s cards earn a respectable 4 miles per dollar (with ability to get more) on one’s selected categories.
Notably absent are strong cards like UOB Preferred Platinum Visa and UOB Visa Signature, but I think the card choices here are already better than that of OCBC 360, and definitely better than something like Bonus$aver (which requires a card with absolutely no rewards).
Additional promos increase the returns on the account
On top on the account’s interest, UOB has regularly offered “earmark promos” each calendar quarter. These promos essentially make the balances in your UOB One somewhat like a fixed deposit, offering cash rewards that boost the overall returns the account provides.
The latest promo provides cash rewards equivalent to roughly 0.60% to 0.80% p.a. This enhances your returns provided you are okay with not touching the earmarked funds for a period of around 5 months.
UOB has also recently introduced a promo offering cashback on tax payment, and that further incentivises depositors to place funds with UOB One Account.
App provides tracker
Lastly, it is worth noting that UOB’s app provides a tracker that allows users to see their progress in both salary crediting and card spend requirements. It sounds like something commonsensical to display, but given how many other bank accounts don’t offer such trackers, this feature adds another feather to UOB One Account’s hat.
The app itself is user-friendly enough, and I have few complaints about the banking experience.
The good
- Relatively decent interest rates (for higher bank balances)
- Easy to fulfil salary requirement
- Card spend require relatively low amount and attract decent rewards
- Earmark and tax promos can increase returns
- App provides trackers
- Interest is credited quickly
The bad
- Tiered interest means effective interest is pretty bad for lower bank balances
Verdict
The UOB One Account may no longer offer the eye-popping rates of yesteryears, but it remains a strong contender in today’s more muted interest rate environment, especially for those with higher savings balances.
Its relatively easy requirements, quick interest crediting, and regular promos like earmark campaigns and tax cashback make it one of the better High Yield Savings Accounts in Singapore right now.
Of course, the newly enhanced Bonus$aver exists, but UOB One Account should still be compelling for those who prioritise an easy-to-fulfil salary requirement and staying within UOB’s pretty strong card ecosystem.
Stay subscribed for more reviews and updates on savings accounts, cards etc. and a full comparison between High Yield Savings Accounts!
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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DBS multiplier is much better than UOB 🙂