So after DBS reduce the bonus interest on their DBS Multiplier Account, it is UOB’s turned to reduce the bonus interest on their UOB One Account.
The UOB One have been a popular account among many because you would only need to fulfill $500 a month of credit card spend plus 3 GIRO transactions / Salary credit.
Come 1st May 2020, UOB One’s Bonus Interest Will be Reduced as Well:
The reduction looks much more massive than DBS’s reduction.
UOB help you compute how much in absolute amount you can earn.
I have worked out the average interest rate if you held the maximum $75,000 in your account. The interest reduction looks significant. To be fair 1.8% a year is not too bad.
However, because UOB have been tightening what they deem as eligible spend on their credit card. The reward is slowly not justifying the hoops we need to jump through.
I invested in a diversified portfolio of exchange-traded funds (ETF) and stocks listed in the US, Hong Kong and London.
My preferred broker to trade and custodize my investments is Interactive Brokers. Interactive Brokers allow you to trade in the US, UK, Europe, Singapore, Hong Kong and many other markets. Options as well. There are no minimum monthly charges, very low forex fees for currency exchange, very low commissions for various markets.
To find out more visit Interactive Brokers today.
Join the Investment Moats Telegram channel here. I will share the materials, research, investment data, deals that I come across that enable me to run Investment Moats.
Do Like Me on Facebook. I share some tidbits that are not on the blog post there often. You can also choose to subscribe to my content via the email below.
I break down my resources according to these topics:
- Building Your Wealth Foundation – If you know and apply these simple financial concepts, your long term wealth should be pretty well managed. Find out what they are
- Active Investing – For active stock investors. My deeper thoughts from my stock investing experience
- Learning about REITs – My Free “Course” on REIT Investing for Beginners and Seasoned Investors
- Dividend Stock Tracker – Track all the common 4-10% yielding dividend stocks in SG
- Free Stock Portfolio Tracking Google Sheets that many love
- Retirement Planning, Financial Independence and Spending down money – My deep dive into how much you need to achieve these, and the different ways you can be financially free
- Providend – Where I currently work doing research. Fee-Only Advisory. No Commissions. Financial Independence Advisers and Retirement Specialists. No charge for the first meeting to understand how it works
- Singapore Savings Bonds SSB March 2023 – Ten Year Yield Goes Up, One Year Goes Down (SBMAR23 GX23030A) - February 1, 2023
- Should You Retire at 30 Years Old with $1 Million or Retire at 40 Years Old with $10 Million (As a Singaporean)? - January 29, 2023
- New 6-Month Singapore T-Bill in Early-February 2023 Be Lower, Ranging between a Yield of 3.8% to(for the Singaporean Savers) - January 26, 2023