UOB cutting One savings account rates; DBS, OCBC staying put for now on similar products

UOB cutting One savings account rates; DBS, OCBC staying put for now on similar products

April 1, 2024 / Riah Marton /


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 …

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Riah Marton

I'm Riah Marton, a dynamic journalist for Forbes40under40. I specialize in profiling emerging leaders and innovators, bringing their stories to life with compelling storytelling and keen analysis. I am dedicated to spotlighting tomorrow's influential figures.

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