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The UOB One Account remains one of the more straightforward high-interest savings accounts in Singapore, and the requirements have not changed even as the interest rates themselves have been revised over the past year. Here is the complete picture, sourced directly from UOB’s own website, covering how the tiers actually work, current rates, fees, and how to apply.
What Is the UOB One Account
The UOB One Account is UOB’s flagship everyday savings account, designed to reward customers who spend on an eligible UOB card and either credit their salary or make regular GIRO payments each month. Unlike some competing accounts that require investment or insurance purchases to unlock higher tiers, the UOB One Account keeps its bonus interest criteria limited to spending and salary or bill payment habits.
UOB One Account Interest Rate: The Full Tier Table
According to UOB’s own One Account page, the account uses a tiered interest structure based on your Monthly Average Balance (MAB) and which conditions you fulfil:
| Account Balance (MAB) | Card Spend Only | Card Spend + 3 GIRO Debits | Card Spend + Salary Credit |
| First S$75,000 | 0.65% | 1.00% | 1.00% |
| Next S$50,000 | 0.05% | 2.00% | 2.50% |
| Next S$25,000 | 0.05% | 0.05% | 3.40% |
| Above S$150,000 | 0.05% | 0.05% | 0.05% |
The maximum effective interest rate (EIR) works out to 0.65% p.a. for card spend alone, 1.40% p.a. for card spend plus 3 GIRO transactions, and 1.90% p.a. for card spend plus salary credit, the highest tier available on the account. Base interest of 0.05% p.a. applies to your entire balance regardless of conditions met, calculated daily, while bonus interest is calculated monthly based on your Monthly Average Balance.
How Much Interest Will You Actually Earn
UOB provides worked examples directly on its site for each scenario:
- S$75,000 balance, card spend only: S$75,000 x 0.65% p.a. = S$487.50 a year
- S$125,000 balance, card spend + 3 GIRO transactions: (S$75,000 x 1.00%) + (S$50,000 x 2.00%) = S$1,750 a year
- S$150,000 balance, card spend + salary credit: (S$75,000 x 1.00%) + (S$50,000 x 2.50%) + (S$25,000 x 3.40%) = S$2,850 a year
Note that salary credit must come via GIRO, PayNow, or FAST with the transaction reference “SALA” or “PAYNOW SALA”, and must be at least S$1,600 a month (or S$500 for full-time National Servicemen). Cash deposits, cheque payments, and fund transfers from personal accounts do not count as eligible salary credit.
Eligible Card Spend
To qualify for bonus interest, you need a minimum of S$500 in eligible spend each calendar month on an eligible UOB card. Eligible cards include the UOB One Card, UOB Lady’s Card, UOB EVOL Credit Card, Lazada-UOB Card, UOB One Debit Visa Card, UOB One Debit Mastercard, UOB Lady’s Debit Card, and UOB FX+ Debit Card. Eligible transactions include local and foreign retail spend and recurring insurance payments, though certain transaction types are excluded, detailed in UOB’s full list of eligible card spend transactions.
One detail worth knowing: transactions must be successfully posted to UOB’s systems, not just charged, within the calendar month to count. If a transaction is charged in one month but only posts in the next, it counts toward the following month instead.
Requirements and Fees
- Minimum age: 18 years old
- Minimum initial deposit: S$1,000
- Fall-below fee: S$5 if monthly average balance falls below S$1,000, waived for the first 6 months if the account is opened online
- Early account closure fee: S$30 if closed within 6 months of opening
- Foreigners and U.S. persons: Must apply in person at a UOB branch with a physical passport, proof of residential address, and Employment Pass, S Pass, or Dependent Pass
How to Apply
Singapore Citizens and PRs can apply online using Myinfo with Singpass login, typically approved within minutes for applications submitted between 8.30am and 9pm. Existing UOB customers can also apply using their Personal Internet Banking login or a UOB credit/debit card number and PIN. Foreigners and U.S. persons need to apply in person at a branch.
Is Your Money Protected
UOB One Account deposits are insured up to S$100,000 in aggregate per depositor per bank under the Singapore Deposit Insurance Corporation (SDIC) scheme, the same protection that applies to other Singapore dollar deposit accounts.
How UOB One Compares to Other Savings Accounts
Compared to UOB Stash Account, which rewards maintaining or growing your balance rather than spending and salary credit, the UOB One Account tends to suit people who already put S$500 a month on a card and can credit their salary, since 1.90% EIR beats Stash’s typical yields at comparable balances. For a broader comparison against other banks’ flagship accounts, see my Best Savings Account in Singapore guide.
UOB One Account FAQ
What is the maximum interest rate on the UOB One Account?
The maximum effective interest rate is 1.90% p.a., achieved on a S$150,000 balance by meeting both the S$500 card spend requirement and crediting a minimum S$1,600 salary each month.
Do I need to credit my salary to earn any bonus interest?
No. You can also qualify for a lower bonus tier (up to 1.40% p.a. EIR) by meeting the card spend requirement plus making 3 GIRO debit transactions monthly, without needing to credit your salary.
What counts as eligible salary credit for the UOB One Account?
Salary must be credited via GIRO, PayNow, or FAST with the transaction reference “SALA” or “PAYNOW SALA”, and must be at least S$1,600 a month (S$500 for full-time National Servicemen). Cash deposits and fund transfers between personal accounts do not qualify.
Is the UOB One Account safe?
Yes. Deposits are insured up to S$100,000 per depositor under Singapore’s SDIC scheme, the same as other bank savings accounts in Singapore.
Bringing It Together
The UOB One Account’s appeal lies in its simplicity: no investment or insurance purchases required, just a modest S$500 monthly card spend paired with either salary credit or GIRO transactions. At 1.90% p.a. maximum EIR, it sits competitively among Singapore’s flagship savings accounts for people who already spend on a card and receive their salary via bank transfer. For a broader look at building your savings and investments over time, see my Compound Interest Calculator guide.
Disclaimer: This is not a sponsored post, and the opinions are solely based on My Sweet Retirement’s own research. Interest rates and terms are sourced directly from UOB’s official website as of September 2026 and are subject to change. Always verify current rates and terms directly on uob.com.sg before applying.