In what is perhaps inevitable, a reduction of interest rate of the UOB One account has been announced. From 1st May 2024, the maximum effective interest rate that one can enjoy from the popular high-yield savings account will be 4% p.a. This is a sizeable drop from the current 5% p.a. on S$100,000 balance.
Here’s a look on how our monthly interest would be affected and alternatives to look at.
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