Best High Interest Savings Account | UOB One vs OCBC 360

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OCBC 360 (Salary, Save Spend)
Base interest = 0.05%
Salary credit $1800 by GIRO = 2.5% (2.0% First $75,000 Salary, 4.0% Next $25,000)
Increase Average Daily Balance by S$500 monthly = 1.5%
+0.6% p.a. interest Charge S$500 OCBC 365, OCBC 90°N or OCBC Titanium Rewards
EIR = 4.65% p.a. on $100,000+ Savings
$4650 yearly, $388 monthly
UOB One
- Min $1600 Salary credit with code “GIRO-SALARY” or “PAYNOW-SALA” new
- Min Spend $500 on selected UOB Debit & Credit Cards
Eligible Credit Cards: UOB One, UOB Lady’s, UOB EVOL (NOT UOB Absolute Cashback)
Eligible Debit Cards: UOB One Debit, UOB Lady’s Debit, UOB Mighty FX Debit
With $100,000 savings, & fulfilling all criteria, you will earn EIR 5% p.a. (Better than OCBC 360 4.65%)
$100,000 * 5% = $5000 per year
Interest per month = $417
Example 1: With $100,000 savings
- Employee with Salary Credit
- Spend min $500 on credit card
- Min $500 incremental savings
OCBC 360: 4.65% p.a. = $388 IPM
UOB One: 5% p.a. = $417 IPM (winner)
Example 2: With $75,000 savings
- Employee with Salary Credit
- Spend min $500 on credit card
- Min $500 incremental savings
OCBC 360: 2+1.2+0.6 = 3.8% p.a. = $2850 interest = $237 IPM
UOB One: (30*3.85+30*3.9+15*4.85)/75 = 4.07% p.a. = $3052 interest = $254 IPM (winner)
Example 3: $100,000 with no card spend
- Employee with Salary Credit
- Min $500 incremental savings
OCBC 360: EIR = 4.05% p.a. = $4050 interest = $338 IPM (winner)
UOB One: EIR = 0.05% p.a. almost zero
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