UOB Tax Saver Promo: Get up to 6.5% Rebate on Tax Payments Via UOB One
Along with the UOB One nerf announced yesterday, UOB has also launched an interesting promo where UOB One users can also get rebates on their tax bill. Dubbed the “UOB One Account Tax Saver Promotion”, the promo promises as much as 6.5% rebates on one’s tax payments, so it is very interesting indeed.
Steps
To qualify, you would need to complete the following steps:
- Apply for GIRO payment on IRAS website and select your UOB One Account as the payment account.
- Register your mobile number for Paynow via UOB TMRW app or UOB Personal Internet Banking.
- Activate Money Lock via UOB TMRW app, UOB Personal Internet Banking or UOB ATMs in Singapore. Lock at least S$1 with this feature.
You will also need to maintain at least S$30,000 of balance in your UOB One account. Customers are also required to maintain the PayNow registration and Money Lock for the entirety of each month during the promotion period.
Up to S$50 rebate per month possible
With the steps completed, the promo will credit 6% rebate for tax payment made through the GIRO arrangement. Those who are trustees of a UOB Child Development Account (CDA) will get 6.5% rebates instead.
The tax rebates are capped at S$10, S$25, or S$50 each month depending on the monthly average balance (MAB) within the month.
| Monthly Average Balance in UOB One Account | Tax Payment Rebate | Tax Payment Rebate (With Child Development Account) | Monthly Cash Rebate Cap | Total Annual Cash Rebate Cap |
|---|---|---|---|---|
| ≥ S$30,000 | 6.0% | 6.5% | S$10 | S$120 |
| ≥ S$75,000 | 6.0% | 6.5% | S$25 | S$300 |
| ≥ S$150,000 | 6.0% | 6.5% | S$50 | S$600 |
For example, if you have S$75,000 MAB in your UOB One Account and made a tax payment of S$300 via GIRO, you will get S$18 (6% × S$300) in rebates. Those with a UOB CDA will get S$19.50 (6.5% × S$300) instead.
The rebates will be credited directly into the UOB One Account within the next 2 calendar months.
Maximum caps
While those with UOB CDA get a higher 6.5% rebate, the caps are the same. For those with a S$150,000 MAB, they will max out their 6% rebate with S$833.34 of tax payment within the month. Accountholders with UOB CDA will max out their S$50 cap with S$769.24 of tax payment.
| Monthly Average Balance in UOB One Account | Monthly Rebate Cap | Max. Tax Amount | Max. Tax Amount (CDA) |
|---|---|---|---|
| ≥ S$30,000 | S$10 | S$166.67 | S$153.85 |
| ≥ S$75,000 | S$25 | S$416.67 | S$384.62 |
| ≥ S$150,000 | S$50 | S$833.34 | S$769.24 |
Sweet spot represents additional 0.4% p.a. returns on savings
If used optimally, the rebates from this promo can be seen as extra returns on one’s savings:
| Monthly Average Balance in UOB One Account | Tax Payment Rebate | Monthly Rebate Cap | Tax Amount That Gets Rebate | Total Rebate Cap | Approx Returns |
|---|---|---|---|---|---|
| S$30,000 | 6.00% | S$10 | S$166.67 | S$120 | 0.4% p.a. |
| S$75,000 | 6.00% | S$25 | S$416.67 | S$300 | 0.4% p.a. |
| S$150,000 | 6.00% | S$50 | S$833.33 | S$600 | 0.4% p.a. |
For instance, if you maintained a S$75,000 balance and max out the S$25 rebate, it’s akin to getting extra 0.4% p.a. returns on your S$75,000 balance. It’s definitely extra incentive to use UOB One, especially after the latest rate drop.
This “0.4% p.a.” also assumes you are maintaining just the minimum balance required and can max out the tax rebate.
6% (or 6.5%) rebate is a very attractive reward for tax payment… provided UOB One makes sense for you
Getting 6% rebate (or 6.5%, for those who are eligible) is obviously a very attractive deal that is a no-brainer promo for those who intend to continue using UOB One Account after the nerf.
For people who can find better returns on their money, however, the maximum additional returns this deal represents is at most 0.4% p.a., so they can decide whether it is worth using UOB One given this information. If one can get a hypothetical 3.8% p.a. returns on their S$150,000 elsewhere, getting 3.3% p.a. + 6% on their tax savings capped at S$50 rebate is actually just 3.7% p.a. or a teeny bit worse than 3.8% p.a.
This isn’t the only tax payment promo around, of course, so stay subscribed as I look at more options we can pay our taxes and get rewards for our contributions to nation building.
Terms and conditions apply
Please note that this article is based on my understanding of the terms and conditions.
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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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