How Much to Open UOB Saving Account

How Much to Open UOB Saving Account

These days, having a bank account is a priority for many people. All banking companies provide secure place facilities for people to save their money, keep track of the financial records, and receive comprehensive financial advice as well as other essential banking services.

Incorporated in August 1935 and is located in more than 500 locations across 19 countries, the UOB bank has become one of the largest banking companies in Asia. The bank has been regularly recognized as a leading financing institution since the early 2000s.

How Much to Open UOB Saving Account

If you plan to open a saving account in UOB but have no idea how much to open UOB saving account, below are some of the savings account types you need to know first, so you know which one you want to choose:

Passbook Savings

This is a savings account that comes with all the fundamental features of a bank account, including mobile notifications, monthly fund transfers, and paid profit.

  • Passbook
  • 15 years old and above
  • Min. deposit of $500

1. Requirement and Fees

Requirement and fees 
Eligibility15 years and above
Initial DepositS$500 for S'poreans & SPRs S$1,000 for foreigners
Min. Avg. Daily BalS$500
Min. Bal FeeS$2
Monthly Svc. ChargeN.A.
Early Account Closure Fee (Within 6 mths)S$30

2. Interest Rates

  • First S$15,000 = 0.050%
  • Next S$85,000 = 0.050%
  • Next S$250,000 = 0.050%
  • Above S$350,000 = 0.100%

3. Benefits

UOB Direct Visa Debit Card

  • Works just like an ATM Card but offers rebates, discounts with added convenience and security.

Personal Internet Banking

  • Pay other Bank’s credit cards easily
  • Enjoy up to 50% off your online remittances’ service fees
  • Accessible 24/7 – convenient, secure and simple to use

Mobile Banking

  • Withdraw or send Mobile Cash with your mobile phone
  • Discover UOB dining privileges and shopping promotions
  • Perform banking transactions on the go

Uniplus Account

It’s a savings account that offers the same features, but with a monthly statement included. Uniplus and Passbook Account also charge fees if the balance falls below the minimum.

  • Printed monthly statement
  • 15 years old and above
  • Min. deposit of $500

1. Requirement and Fees

Requirement and fees 
Eligibility15 years and above
Initial DepositS$500 for S'poreans & SPRs
S$1,000 for foreigners
Min. Avg. Daily Bal S$500
Min. Bal FeeS$2
Monthly Svc. ChargeN.A.
Early Account Closure Fee (Within 6 mths)S$30

2. Interest Rates

First S$15,000 = 0.050%
Next S$85,000 = 0.050%
Next S$250,000 = 0.050%
Above S$350,000 = 0.100%

3. Benefits

UOB Direct Visa Debit Card

  • Works just like an ATM Card but offers rebates, discounts with added convenience and security.
  • Debit Card features

Personal Internet Banking

  • Pay other Bank’s credit cards easily
  • Enjoy up to 50% off your online remittances’ service fees
  • Accessible 24/7 – convenient, secure and simple to use

Mobile Banking

  • Withdraw or send Mobile Cash with your mobile phone
  • Discover UOB dining privileges and shopping promotions
  • Perform banking transactions on the go

Junior Savers Account

A savings account with free insurance.

  • Free insurance coverage for child
  • For children under 16 years old with a parent/legal guardian aged 21 – 59 years old
  • Min. deposit of $500

1. Requirement and Fees

Requirement and fees 
Eligibility1) Child 16 years old or below
2) Joint account with a parent/legal guardian aged 21 – 59 years old
Initial DepositS$500
Min. Avg. Daily BalS$500
Min. Bal FeeS$2
Monthly Svc. ChargeN.A.
Early Account Closure Fee (Within 6 mths)S$30

2. Interest Rates

First S$15,000 = 0.050%
Next S$85,000 = 0.050%
Next S$250,000 = 0.050%
Above S$350,000 = 0.100%

3. Benefits

UOB Direct Visa Debit Card

  • Works just like an ATM Card but offers rebates, discounts with added convenience and security.
  • Debit Card features

Personal Internet Banking

  • Pay other Bank’s credit cards easily
  • Enjoy up to 50% off your online remittances’ service fees
  • Accessible 24/7 – convenient, secure and simple to use

Mobile Banking

  • Withdraw or send Mobile Cash with your mobile phone
  • Discover UOB dining privileges and shopping promotions
  • Perform banking transactions on the go

Free insurance Coverage

  • Complimentary life insurance coverage to give your child the best headstart in life.

Child Development Account

  • This is a savings account to help prepare children for their future which comes with some cash benefits.

Global Currency Account

  • Customers who are eligible to open this savings account will enjoy some benefits, such as the ability to save money in foreign currencies without a monthly fee.

How to Apply UOB Saving Account

How much to open UOB saving account and how to apply for it:

  • If you have an existing UOB savings account, you simply need to open your internet banking account. But if you’re a Singaporean or Singapore permanent resident and previously has no UOB bank account, bring your NRIC and some cash for an initial deposit to any UOB unit offices.
  • If you’re a foreigner, make sure to bring along your passport, proof of valid residential address, and student pass or work permit as well as the initial deposit to the nearest UOB branch. If you want to open a savings account for your child, bring along the birth certificate of your kid.

Please be aware that all the documents you have to prepare above don’t automatically indicate UOB Bank will approve the customer opening a bank account.

You may also like: How to Open UOB Bank Account

Therefore, make sure to visit the official platform of UOB for more information on the savings account you would like to apply for.