UOB ONE ACCOUNT – Savings Account with high interest

Normal Interest:  
Open UOB ONE ACCOUNT and get normal interest rate of 0.25% (p.a.) monthly.
Get bonus interest when the following conditions are met;

Bonus Interest Rate Tier 1

Conditions of Bonus Interest Rate Tier 1

  • Net card spending from debit/credit card under account owner name is at least THB 5,000 per calendar month.

Monthly Average Balance (Baht)

Base Rate + Bonus I (p.a.)

0 – 500,000 0.75%
The amount over 500,000 * 0.25%

* the effective rate is equivalent to 0.75% -0.25%, based on customer’s Monthly Average Balance.

Bonus Interest Rate Tier 2

Conditions of Bonus Interest Rate Tier 2

  1. Net card spending from debit/credit card under account owner name is at least THB 5,000 per calendar month. AND
  2. Perform 1 option from the 2 options below.
    • Having at least 2 transactions of online bill payment per month via the Bank’s electronic channel within the last bank-working days of the month OR
    • Using UOB ONE ACCOUNT as “payroll account” with salary inflow >= THB 15,000 per month.

Monthly Average Balance (Baht)

Base Rate + Bonus I (p.a.)

0 – 500,000 1.25%
The amount over 500,000 ** 0.25%

       ** the effective rate is equivalent to 1.25% -0.25%, based on customer’s Monthly Average Balance

  1. Interest Payment Frequency 
    Interest is paid monthly;
    • Normal interest is paid on the last business day of each month.
    • Bonus interest is paid on the 2nd business day of the following month.
      Remark: The Bank will apply effective bonus interest rate per the Bank’s announcement on the 1st business day to calculate bonus interest on monthly average balance of the previous month.
  2. Conditions of Bonus Interest Payment
    • In case the Customer opens an account on the last day of the month which falls on weekends or non-bank working day, the Bank will not pay bonus interest for the opening month.
    • In case the Customer spends on debit/credit card or pay online bills on the last day of the month which falls on weekends or non-bank working day, the Bank will calculate the transactions as of next month’s.
  3. Monthly Average Balance Calculation

    Monthly Average Balance (MAB) is the average of the daily deposit amount in a month.

    sum of daily ending balance

    number of days in the month*

    *In case of account opening during the month, MAB is calculated from the account opening date until the end of month.

    Example

    Customer opens an account on March 16 for 1,000 Baht, and deposits 2,000 Baht more on March 21, with the total of 3,000 Baht until month end.
    MAB = (THB 1,000 x 5 days ) +  (THB 3,000 x 11 days )

    16 days
    = 2,375 Baht
  4. Interest Rate Calculation

    The number of days for calculation is 365 days.

    Normal interest = daily ending balance x normal rate (p.a.) x actual deposit period

    100 x 365
    Bonus interest = Monthly Average Balance x bonus rate (p.a.) x actual deposit period

    100 x 365

    Example
    Customer June’s MAB is THB 550,000, with net spending of THB 5,000 on debit/credit card, and 2 bills online payment per Bonus Tier 2 conditions. The customer will get bonus interest rate tier 2.

    Interests of June are calculated as followed.

    1)  Normal interest  =   550,000  x  0.25  x   30
    100  x  365
    = 113.01 Baht

    2)  Bonus interest tier 2

    Monthly Average Balance 
    (Baht)

    Bonus Interest Rate (p.a.)

    Bonus Interest
    (Baht)

    0 - 500,000

    1.00%
    = 500,000 x 1.00
    100
    x 30
    365
    = 410.95

    Amount over  500,000

    -   = 0
    Total bonus interest 410.95

     

    Total interest =  113.01 + 410.95   =  523.96 Baht

Details

Account Opening at Branch

Customer type

  • Individual customer only

Minimum age

  • 15 years old on the date of account opening

Account number

  • Single account only
  • Limit 1 account per customer

Initial deposit amount (Baht)

  • Not specified

Other product/ service required with UOB ONE ACCOUNT

  • The customer shall apply for UOB Personal Internet Banking (PIB) or UOB Mighty in order to view account movements as UOB ONE ACCOUNT is a bookless account.
  • The customer is able to view “e-Statement” via UOB PIB, up to 5 years back.

 

Remark 

UOB ONE ACCOUNT will appear on UOB PIB/ UOB Mighty on the next day of the account opening day (in case of account opening on the weekends or on the Bank holiday, the account will appear on the next 2 business days).

Required Document

  • ID Card
  • The primary card owner name must be the same as the ONE Account’s owner.
  • Net card spending includes all debit/credit card both primary and supplementary card of UOB ONE ACCOUNT owner. In case the account owner has several primary credit cards, all cards will be included for bonus interest calculation.
  • For any voided transactions, the Bank will deduct voided transaction(s) from spending on the month that transaction(s) was/were voided to calculate net card spending.
  • Corporate card type is excluded for the spending.
  • Card spending is counted based on "posting date" ONLY.
  • Exclude card spending on "mutual fund", "uncollected IPP", "cash advance", "interest", "penalty", and "any fees".
  1. Conditions pertaining to account opening e.g. interest calculation, interest payment, fees, process when errors found from deposit/withdrawal transactions, account owner’s responsibilities, Bank’s responsibilities to account owner, account closing, or other conditions are subject to savings account opening terms and conditions.
  2. Conditions pertaining to spending of debit/credit card are subject to debit/credit card terms and conditions.
  3. Conditions pertaining to an application for UOB Personal Internet Banking (PIB) or UOB Mighty are subject to UOB PIB/ UOB Mighty terms and conditions.
  4. In case of ‘Inactive Account’ more than 12 consecutive months, and the balance is lower than 5,000 Baht at month end, the Bank charges maintenance fee 100 Baht/ month per 1 account [Inactive Account is the account with no movement of deposit/ withdrawal/ transfer/ bill payment transaction, excluding system automatic transaction e.g. Auto Direct Debit, for 12 consecutive months].
  5. To convert from “Inactive Account” status to “Normal” status, account owner shall be present at branch and perform withdrawal transaction from the account.
  6. Additional fees apply for cross-region or cross-bank transactions; please refer to the Bank’s announcement on the Bank’s website click or at the Bank branches.
  7. A tax exemption shall be in accordance with the regulations of the Revenue Department.
  8. The deposits are under the protection of the laws regarding the Deposit Protection Agency as per the amount and conditions stipulated therein.
  9. Sales Sheet

1. Account Opening

Q: Do I need to apply for other services? 
A: You should apply for UOB Personal Internet Banking (PIB) or UOB Mighty in order to view account movements as ONE Account is a bookless account.  In order to get bonus interest, we advise you to apply for debit/credit card for card spending as well.

Q: Do I need to have PIB or Mighty? 
A: Yes, so you can view e-statement up to 5 years back.

Q: What is the minimum amount for account opening? 
A: Any amount. There is no minimum amount set.

2. Debit/Credit Card Spening, minimum 5,000 Baht/ month

Q: Do you count all spending from primary and supplementary cards? 
A: Yes, we count all spending including primary and supplementary card of UOB ONE ACCOUNT owner. In case you have several primary credit cards, all cards will be included for bonus interest calculation.

3. Options of Online Bill Payment and Payroll minimum 15,000 Baht

Q: What channels can I pay online bills?  
A: Mobile Banking, Internet Banking and ATM/ CDM of UOB Bank’s.

Q: What kind of online bill can I pay and what is the minimum amount? 
A: There are various types of bill you can pay for such as credit card bills, telephone bill, electricity bill, or Easy Pass top up. For more information, please go to UOB PIB or UOB Mighty.

Q: How do I use UOB ONE ACCOUNT as my payroll account?  
A: If your company is using our payroll service, please directly inform your HR.

Example 1: More than 1 primary card – all card spending will be combined

Scenario

Jan-18

Feb-18

Mar-18

Spending (Baht)

 

 

 

- Primary card 1

3,000

1,500

0

- Primary card 2

2,500

0

0

  • Supplementary card 1

1,000

0

5,000

Total Spending (Baht)

6,500

1,500

5,000

Deduct voided transactions

0

0

 

Net Total Spending (Baht)

6,500

1,500

5,000

Bonus Interest Tier 1

 Example 2:  Purchased goods and voided the transaction within the same month

Primary card 1 purchased goods of 50,000 Baht in January and converted the transaction within the same month to installment of 10,000 Baht per month for the next 5 months.

Scenario

Jan-18

Feb-18

Mar-18

Spending (Baht)

 

 

 

- Primary card 1

50,000

10,000

10,000

- Primary card 2

2,500

 

3,000

  • Supplementary card 1

 

 

 

Total Spending (Baht)

52,500

10,000

13,000

Deduct voided transactions

-50,000

 

 

Net Total Spending (Baht)

2,500

10,000

13,000

Bonus Interest Tier 1

 Example 3:  Purchased goods and voided the transaction the next month

Primary card 1 purchased goods of 50,000 Baht in January and converted the transaction the next month to installment of 10,000 Baht per month for 5 months.

Scenario

Jan-18

Feb-18

Mar-18

Spending (Baht)

 

 

 

- Primary card 1

50,000

10,000

10,000

- Primary card 2

2,500

 

3,000

  • Supplementary card 1

 

 

 

Total Spending (Baht)

52,500

10,000

13,000

Deduct voided transactions

0

-50,000

 

Net Total Spending (Baht)

52,500

-40,000

13,000

Bonus Interest Tier 1

  • UOB Personal Internet Banking (PIB) / UOB Mighty
    Check account balance, account movement, previous Monthly Average Balance (MAB), or perform fund transfer, payment for goods and services, and other financial transactions online 24 hrs a day. Maximum limit of transaction or amount per day are subject to UOB PIB/ UOB Mighty terms and conditions.
  • Bank Branch
    Check account balance, account movement, previous Monthly Average Balance (MAB), or perform fund transfer, cash deposit/ withdrawal, payment for goods and services, and other financial transactions according to each branch operation hour with no limit on number of transaction or amount per day.
  • ATM
    Check account balance or perform cash withdrawal, fund transfer, or payment for goods and services 24 hrs a day with debit bard. Maximum limit of transaction or amount per day are subject to Debit Card terms and conditions.
  • You can close UOB ONE ACCOUNT at the branch where the account was opened only. Please refer to each branch’s operation hour.
  • If you opened the account via PIB, you can close UOB ONE ACCOUNT at the branch where you chose as a reference when opening the account. Please refer to each branch’s operation hour.