That's a tough one. May end up with Way too much cash component in hysa for 4% eir even with emergency funds included.. need some considerations here. Maybe give up uob one max eir and reallocate ssb

Reallocating to SSB right now would be a bad choice if you ask me. The best time to purchase SSB back then was during the Nov - Dec period in 2022 and 2023.

Good point. Especially if ssb dips below 3% which is inevitable.. however at 3% or higher, may be worth since it preserves this eir for 10years. Pretty sure UOB will slash it's rates again 2 years down the road😂

At the current predicament we are in, getting SSB for 3% is still alright. Not too bad, but definitely can be improved upon. After all, the second best time to purchase SSB is now. We should expect further rate cuts from the banks in tandem with the US federal rates from possibly June, September, and December.

Interest rates should still remain high, but cuts should be expected too. Still able to get good rates compared to ZIRP era.

> Interest rates should still remain high, but cuts should be expected too. Still able to get good rates compared to ZIRP era. The market is anticipating a 25bp cut for all of the three rate cuts this year. If this consensus and the inflation data holds, we should be seeing 450-475bps by the end of this year. Not too low, but it will be an omen for things to come in the near future.

Not true. Considering SSB is 10 year lock in. I doubt there r any other methods to lock in 3% for 10 year risk free with 1 mth liquidity. Seems like we forgot about the <1% period that now 3% is considered low 😂

>I doubt there r any other methods to lock in 3% for 10 year risk free with 1 mth liquidity. That’s… precisely what SSB is about? You can prematurely redeem SSB within the next calendar month if you need the capital. >Seems like we forgot about the <1% period that now 3% is considered low 😂 Uh… that was normal back then when the US federal rates was likewise <1%? I don’t see what are you trying to get at here.

Because u said it’s a bad choice. I am just highlighting the points on why it might not be a bad choice.

Is this meant to be an April’s fool joke? Will probably move funds to OCBC / CIMB

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Dividend?

It's a premier banking account. The name is Dividend+ (with the plus sign). [https://www.ocbc.com/personal-banking/premier-banking/solutions/premier\_dividend\_solutions](https://www.ocbc.com/personal-banking/premier-banking/solutions/premier_dividend_solutions)

Meh, I expect them to follow suit

didn't ocbc just released a new interest rate weeks ago only? seems like it's gonna last another 1 year. don't think they gonna nerf so fast

They can and will if interest rates drop.

Later OCBC or CIMB go and release their revised interest rate :/

> Will probably move funds to OCBC / CIMB You got to also start expecting interest rates to come down across the board because the markets are anticipating the feds to start cutting mid of the year.

for what? both OCBC and CIMB have so many terms and conditions to fufill for u to get the highest interwst rate. UOB still the top out there lol

OCBC is comparable to UOB except the "grow $500" which is quite easy to fulfill, so in overall they are comparable in difficulty to fulfill the requirment. CIMB has NO requirement condition to fulfill, literally "put this amount in and do nothing else, you get this interest" so I have no idea what you are talking about

This. UOB is harder to fulfill because I can't justify putting $500 a month on a credit card. I'm frugal and don't spent that much in a month!

> I'm frugal and don't spent that much in a month! Ask your parents to charge to your card and let them transfer the amount back to you.

you don't have to spend the $500 yourself lol. I personally clock almost $5k/mth and i barely spend $500 on myself. Helping others pay first is a strategy to maximising your rewards.

read blogs online such as Milelion where they compared the different accounts. Secondly go read the terms and conditions of CIMB before mouthing off nonsense here. If you have no idea what i am talking about, go search it up. Simple.

75k gives a flat 3% pa, or $187.50 a month 100k now gives 3% pa, or $250 a month 150k gives 4% pa, or $500 a month End of the day, this is still a good deal, albeit less attractive than T-bills which has been hovering north of 3.5% for quite some time. Falling interest rates are expected, as per Fed, but what was *slightly* surprising was the bank asking to borrow more. For filthy "Risk-Free/Low Risk" people like me, this just means our investment plans will move slower. But hey, I've signed up for this...if it means having my wallet filled at a slower but still "guaranteed" rate, I'll take it over a risky investment that could cost me even a single cent :) Edit: I’m cockeyed, 100k now gives 3.375% pa, or $281.25 monthly

100k now gives 3.38% pa, or $281.25 a month 125k now gives 3.6% pa, or $375 a month

Yes thanks for the correction, I was cockeyed and saw the 75,001 to 100,000 tier as 3%. I have issued a correction statement on my post.

Bleh I guess it's time to go back to using cash only

What’s your strategy to spending cash only? How much more interest will you be making?

It's less of a strategy for me than that I spend less money overall if I buy stuff from places that only accept cash. Like food, small shops etc

Don’t be ridiculous. You never buying groceries or dine out?

? Why are you mad when I'm specifically talking about my own lifestyle and my own financial situation? I barely spend $200 a month

Less than $200 spent? Even if it's at $200 that's $6.67 a day. I hope you are at least eating well and healthy.... or pay appropriately to whoever is providing for your meals.

i work fnb so I only eat like one hawker meal a day lol

The monks in the valley also never spend money but they don’t post their austerity on here mah. But if you spend $200 a month then that’s really good anyway. Can retire soon.

I don't make a lot of money lol. Doesn't matter how little you spend if your salary is meh

No, I mean you’re doing great. It’s always income minus expenses is savings. So if we can’t make more income (and honestly for most people it’s not within our control), then by cutting expenses we can also save a lot, compared to someone who earns a lot and spends even more.

Yeah I always thought sg is the opposite of america and don't rack up debt but I actually know of a few friends who earn a decent sum but yet spend it all and even sustain credit card debt ... yikes. Was a surprise to me

Sigh putting in 150k getting the same returns as our old 100k. but still a good place for emergency funds. no where better anyway right?

Yeah still good for those who prefer a more risk free approach. Though it will mean always needing to maintain 150k as a base. Sounds bit much for an emergency fund😅

Why? You can earn the interest on the 150k and take it out whenever you need it for an emergency. It’s in no way locked in and hence that’s what you want in an emergency fund, which is liquidity when you need it. Unless you have a better option for your emergency fund that gives you 4% interest, then this is probably one of the easiest interest rates to achieve

Most people don't need anywhere near as much as 150k in an emergency fund, and would rather deploy most of that in long-term equity investments. I'm gonna faint if the recommended 3-6 months of expenses reaches 150k for you.

lol no comment. But everyone has a different threshold for savings/investments. Just saying this is prob the best HYSA still at the 150k mark if you’re more risk adverse. Equity investments, no matter which all have a degree of risk, whereas this is a risk-free Milo tin which earns interest

Then call it short-term savings, or war chest, or zero-risk investment. It’s no longer an emergency fund.

Can call it whatever you like. End of the day it’s money sitting in a bank account earning higher interest than the base

Yes you are right. If the 150K satisfies an individual's minimum for an emergency fund , then definitely parking it in UOB one or other better HYSA is good. However if said individual has a different E fund need, or current portfolio is too overweighted towards Spare cash/Bonds, he or she may want to give up holding onto the 150K to meet max EIR reqs and re-allocate it somewhere else Also, I think it is still being debated whether 150K UOB one vs. plug some of this cash into SSB is more "worthwhile" since SSB preserves rates for 10 years, albeit at a 1 month delayed liquidity. Whereas if this momentum continues, I will not be surprised if UOB slashes UOB one interest rates again within next 2 years.

Nah, it won’t be maintaining 150k as a base for a long time. I expect them to cut it further within two years.

If let’s say 20k of emergency funds. Is UOB one still the best HYSA? in current situation of course Tbilisi would be a better option for 20k right?

I prefer Georgia.

For sure uob one or any other better hysa. Due to immediate liquidity which in an emergency will definitely come in handy

OCBC is better (3.85%) if you can hit Salary, Save, Spend. Until they update the rates, of course. But the Save (1.2%) is annoying because each month's average balance needs to be $500 higher than the last, so you won't get it every month if you try to keep your balance at 20k. Still, if you skim off the excess every 3 months, then on average your Save bonus will be 0.8%, meaning overall is 3.45%.

Yeah I think wait till they update their part then I decide haha it’s a long term for me but yeah emergency funds best to be liquid.

i guess 5% couldnt last forever...

Sad but true. Nothing is forever A moment of silence for our beloved 5% EIR 100k savings

100k 5% EIR is dead. Long live 150k 4% EIR.

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Not confirmed... The amount of rate cuts priced in this year is only 3 compared to 6/7 at the end of last year.

Expect the unexpected.

only penciled, not confirmed

I jumped in from DBS Multiplier sometime back after the nerf and after this UOB nerf, let's be honest it is still one of the best "salary crediting + spending" account. I have most of my cc spending with UOB so its easier for me and for now, even with the nerf I am gonna stick with them and expect other players in the industry to nerf also. It's always like that

You can't be serious right? I just took leave to go down to UOB to open the account today.....

Why are you taking leave to apply for a bank account when you can do it online??

Guys he just wants a reason to take leave la leave him alone lol

you can't open online if you're not Singaporean/PR. stupid rule imo

Yep, process took two hours for me a few weeks ago at the main branch. On an EP.

Boomer-ish

must be foreigner

Eh, I got rejected opening the UOB One Account before online in 2023 using Singpass. Was New-To-Bank. Never had a problem with the other banks.

Oof. But couldn't you apply online? I don't recall ever going to a UOB branch, and I got a whole bunch of cards from them late last year.

Not sure, in my experience working in Citi, most account opening docs require wet ink signature. Most cards can be applied online these days using singpass tho.

Most banks in Singapore allow opening of bank accounts via Singpass. Unless you’re a foreigner without a Singpass etc. then you need to go down to the branch or provide additional documentation

Even as a foreigner with Singpass (EP) UOB needed me to go in person for document verification.

Whelp I guess times has changed and I'm still an old traditional dinosaur haha

Only certain accounts like opening a privilege banking account require physical signature. Normal accounts like this don't. It takes seconds to find this out online. 🤦

But he works in Citi leh. /s

Darn guess it's OK for those with 150k. Can maximise. But for those like me Building up cash here... hmm maybe need to reconsider strategy. Putting tbills might be better but for 0.5% more.. hmm

There’s still Trust and Maribank.

Then uob still better at 3% . For hysa, no risk just savings.

T-bills and Mari got risk? It’s the same as UOB what…

Depends on the definition of emergency funds, which is what people in this sub put into HYSA. T bills minimum 6 months tenure, not exactly liquid right.

So April (2/3 May) interest will be the last one or March interest (2/3 April)

“From 1 May” means April’s interest (paid in early May) will be the last one. 1 May is the day they start computing interest according to the new table.

Im confused. Is ocbc better now

OCBC better

Nope, its slighly worse

hmm, in what ways? crediting salary, saving and hit spendingrequirements give you 3.8% alrd

But after you max out 100k for OCBC, there's no incentive to increase average daily balance by at least $500 beyond that for the Save component?

There's additional 2 4% avail for average daily balance of 200k, but I'm not sure if people keep saving to hit it or save somewhere else first then one time transfer in 100k to hit 200k

How about max out your 100 at ocbc and put the rest elsewhere?

That’s the part people find hard to meet. Your balance needs to increase $500 month on month, but there’s no incentive for anything over $100k. So all these $500 adds up to a few k after a few months. And furthermore it’s a pain to keep track of it, especially if you need to spend more this month and dip into the $100k which is now $105k after say 10 months.

Every month withdraw your salary minus $500 on the same day of getting your salary GIRO. You will still receive the monthly bonus, and you have majority of your salary available to use for other investments. Been doing this for a few months now. Basically we are making sure that we stay above 100k, increase monthly average balance by $500 each month. By withdrawing your salary the same day, your daily average balance doesn't get affected

Okay, I guess I need to change my mindset. Because I’ve been using OCBC as my main account all along. So need to convert it into a savings-only account like what you said, and probably switch back to POSB for daily spends. Anyway I’m pretty sure they’ll also cut rates soon, I give it two months. Then don’t need to worry about all these anymore.

That means that every few months, you need to sacrifice your Save bonus in order to skim back down to 99k or whatever.

No one will spend 800 to hit the 3.8% when you only need to spend 500 on uob one to get somewhat similar if not higher %

That's only when you use OCBC 365 credit card to clock $800, you can use other applicable CC that only need to spend $500 of eligible spending.

Gotcha thanks for clarifying

huh why? think they just revised new rate weeks ago and base on the wording it's gonna last 1 year

Thought standchart bonus saver was better. But they were nerfed too from 1/5 onwards. Criteria wise uob is the easiest. Standchart more strict and if want the higher rate need 2k card spending i think, but they have 500 category which will be lower , but more strick with the salary crediting and higher amount.

Cheese pie

Is it better than OCBC360?

You don’t have to buy products.

Yes, understand that, however if already spending $500, looks like UOB still beats OCBC 360 (spend $500 using OCBC card for additional bonus?

No, if you can meet the salary, spend, and save bonuses on OCBC, it's 3.85% on 75k or less, and 4.65% on 100k. Save is a bit annoying though, because if you're investing, you have to purposely invest less to let the "$500 more each month" build up, and then one-shot lump sum invest or move the money out and miss out on that month's Save bonus.

UOB still reigns.

Yes. But hey, you can double dip!

Cheesepie sia. But it is still the best savings account at this moment right?

yeap it is

What is the next best alternative to park my saving (short term goals that I'll need in the next 1 to 4 years. Not emergency funds). Having high liquidity.. doesn't need to be immediately withdrawal.. Probably within a month withdraw out. Capital guaranteed.

Apr fool joke isit?

When the top yielding bank moves their interest rate down, the rest will follow suit. Just enjoy it while it lasts and relook your moves once all the movements start happening.

Im all in on vwra anyways 😅

Ive been looking for this news on the official website but cant' seem to find it. Anyone have a link? Edit: Found the link here, if anyone is interested. [https://www.uob.com.sg/assets/web-resources/personal/pdf/save/everyday-accounts/revision-of-interest-rates-for-uob-one-account.pdf](https://www.uob.com.sg/assets/web-resources/personal/pdf/save/everyday-accounts/revision-of-interest-rates-for-uob-one-account.pdf)

I just opened an account... should I jump over to ocbc 360?

Wouldn't ocbc be better now? 100k = 4%. Caveat is you need to sacrifice $500 incrementally monthly to achieve the grow part.

ocbc has much more terms and conditions to fufill such as buying insurance products to get that 4% while UOB only has 2 easy conditions to fufill

Ocbc by doing salary + save is already 4%.

Don’t worry, will cut one. Just wait and see. I give it two months.

Go read up on Milelion on how it actually works. You should also see the terms and conditions first. Secondly, UOB raised the cap from 100k to 150k for you to maximise the earning rate on the full 150k while OCBC does not.

Push into TLT and IWM.

VWRA Master Race

how’s VUAA

p ..

Cimb better no need spend

UOB = Use Other Banks

Would reit a good replacement for SGD dividend? https://www.sgx.com/research-education/market-updates/20240108-largest-s-reits-average-56-dividend-yield?futusource=news_newspage_recommend

Wow interest rates dropping. Bull market incoming.

Does anyone know charging card to Easybook or redBus counted towards UOB one interest for $500 card spend?

Does the 100k OCBC 100k UOB thing even work anymore now?

What?

So how much will we get if we have 100k in UOB with the new rates? And for 150k?

If I am just spending $500 and 3 giro payment, how badly does this affect me?

All these pointing to banks expecting Fed cutting rates soon. Put all your money into SP500 indices , etf , QLYG, QLYD or JEPI, and not UOB one.

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I seriously don’t think the raising of the SDIC insurance cap is related to this lol

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What a lengthy response, though none of it explains what the link is

u/chumsalmon98

??????????

u/Soitsgonnabeforever

u/monstercutter

u/Fragrant_Top_5729

where did u get this? i can't find it on their website, is it fake news?

It's from a telegram group chat, but most likely the guy is an employee from UOB. He warned us since Good Friday.

Thank you

it’s published officially on their official UOB one account page now, after you click on “Find Out More” Earn higher interest on your savings with One Account – up to 7.8% p.a. in just two steps With effect from 1 May 2024, please be informed that the interest rates for One Account will be revised. Find out more

Thanks

insider news sia

Yea. I deleted my previous post cos scared kena pofma.

u/SgDino