UOB : U11 0% is introducing lower interest rates for its One savings account members ahead of anticipated rate cuts by the US Federal Reserve.
In a Monday (Apr 1) letter addressed to its One Account customers seen by The Business Times, the bank cited a need to “align with long-term interest rate environment expectations”.
The reduced interest rates will come into effect on May 1, and are applicable to all new and existing UOB One accounts.
They will apply to account balances between S$30,000 and S$100,000, and when customers spend at least S$500 a month on an …
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
