Thanks to K from the Telegram group for pointing this out! No more than three months from its last reduction of interest rates, UOB has gone on to further drop rates for the once popular UOB One account. The last reduction already made UOB One horrible; this just renders the whole account unusable with average interest rates falling below 1.0% pa, even as the requirements of salary crediting/GIRO and spending $500 per month stay.

Incredibly appalling rates, even in this climate, and if the last revision didn’t kick you into looking for alternatives to your UOB One, this surely would.

Alternatives

You may wish to consider Dash EasyEarn, Singlife Account, or Elastiq instead. These aren’t banking accounts, but they closely emulate the features of traditional savings accounts by giving you high flexibility on both topping up and withdrawing of funds. Subscribe to my Telegram channel to be notified of an upcoming comparison...