UOB trims One Account interest rate again to maximum 2.5% per annum on first S$150,000

[SINGAPORE] UOB is cutting interest rates on its flagship savings account, the One Account, for the second time in 2025.

With effect from Sep 1, the maximum effective interest rate on the One Account will be cut to 2.5 per cent per annum on the first S$150,000, down from 3.3 per cent.

UOB had already announced a cut earlier in April – the maximum interest rate was reduced to 3.3 per cent from 4 per cent, effective from May 1.

It is not the only bank to lower rates on its flagship deposit account twice this year.

OCBC had, on May 1, cut the maximum effective interest rate on its 360 Account to 6.3 per cent from 7.65 per cent on the first S$100,000. It then announced a second cut in June. With effect from Aug 1, the maximum rate has been lowered to 5.45 per cent per annum.