Looking for a high-yield savings account in Singapore that rewards your daily spending? Here’s everything you need to know about the UOB One Account.
The UOB One Account is one of the most popular high-yield savings accounts in Singapore, offering up to 4.5% p.a. effective interest on deposits of up to S$150,000 when paired with the UOB One Card.
But while the account works well for local savings and cashback, when it comes to overseas spending and travel, the UOB One Card isn’t always the smartest choice. That’s where YouTrip, Singapore’s leading multi-currency travel card, comes in.
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📚 Table of Contents:
- What is the UOB One Account?
- UOB One Account Interest Rates
- UOB One Account Fees & Eligibility
- UOB One Account Tax Rebate
- UOB One Card: Credit vs. Debit
- UOB One Account vs. OCBC 360
- Using the UOB One Card for Travel
- Travel Card Alternative: YouTrip
- How to Open a UOB One Account Online
- UOB One Account Review
- UOB One Account & UOB One Card FAQs
What is the UOB One Account?

Image Credits: UOB Singapore
The UOB One Account is designed for Singaporeans who want to grow their savings faster through bonus interest while enjoying cashback rewards via the UOB One Card.
To qualify for higher interest:
- Spend more than S$500/month on a UOB One Credit/Debit Card, and
- Either credit a min. salary of S$1,600/month into your UOB One Account or make three GIRO debit transactions/month.
It’s simple, but requires consistent spending habits.
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UOB One Account Interest Rates
Account Monthly Average Balance | Spend min. S$500 on eligible UOB Card | Spend min. S$500 + 3 GIRO debit transactions | Spend min. S$500 on an eligible UOB Card |
---|---|---|---|
First S$75,000 | 0.65% | 1.00% | 1.50% |
Next S$50,000 | 0.05% | 2.00% | 3.00% |
Next S$25,000 | 0.05% | 0.05% | 4.50% |
Above S$150,000 | 0.05% | 0.05% | 0.05% |
⚠️ Note: Interest rates shown are effective annual rates (p.a.) and apply only when the respective spending and GIRO conditions are met. Rates are capped at the stated tiers and may change — always check the official UOB website for updates.
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UOB One Account Fees & Eligibility
- Minimum initial deposit: S$1,000
- Fall-below fee: S$5 if the monthly average balance dips below S$1,000
- Waiver: First 6 months waived for accounts opened online
- Early Account Closure Fee: S$30 within 6 months from opening
- Age: 18 years old and above
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UOB One Account Tax Rebate
UOB sometimes offers cash rebates on personal income or property tax paid via GIRO from the UOB One Account. These promos vary, so always check the UOB promotions page to stay up-to-date.
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UOB One Card: Credit vs. Debit
↪ UOB One Credit Card Benefits
- Up to 10% cashback on Grab, Shopee, McDonald’s, SimplyGo
- Up to 8% cashback on groceries
- Up to 4.33% cashback on utilities (SP bills)
- Up to 22.66% fuel savings at Shell & SPC
↪ UOB One Debit Card Benefits
- Up to 4% cashback on Grab, Shopee, McDonald’s, SimplyGo
- Eligible for bonus interest requirement (≥ S$500/month spend)
- Waived overseas ATM fees in Malaysia, Indonesia, Thailand
⚠️ Limitation: Cashback and interest apply to local SGD spending only. For travel, you’ll face FX fees of 3–3.25% on overseas transactions.
📚 Check out the Best Miles Credit Card in Singapore For Overses Spending (2025)
UOB One Account vs. OCBC 360
Choosing the right savings account comes down to your spending habits and how much effort you want to put in.
The UOB One Account rewards consistent monthly spending with simple criteria, while the OCBC 360 Account offers more ways to earn bonus interest but requires juggling multiple conditions. Here’s a side-by-side look at the key differences:
Feature | UOB One Account | OCBC 360 Account |
---|---|---|
Criteria | Simple: S$500 spend + salary/GIRO | Multiple: salary, savings growth, insurance, investments |
Ease of Use | Easy to track | More complex |
Max Interest | Up to 4.5% p.a. | Up to 7.65% p.a. (if all conditions met) |
Best For | Consistent monthly spenders | Users with diverse financial products |
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Using the UOB One Card for Travel
The UOB One Card is great for local cashback, but when you’re abroad:
- Less favourable exchange rates compared to travel cards
- 3.25% foreign exchange fees on overseas transactions
- Cashback applies mainly to local merchants
Travel Card Alternative: YouTrip

The YouTrip multi-currency travel card solves these pain points:
- 0% foreign transaction fees
- Pay in 150+ currencies at competitive FX rates
- Lock in great rates for 12 popular currencies on the app
- No minimum spend, no monthly conditions
- Free overseas ATM withdrawals (up to S$400 equivalent/month)
👉 The smart strategy? Use the UOB One Account + One Card for local savings & cashback, and YouTrip for all your overseas spending. That way, you get the best of both worlds.
🔥 Singapore’s go-to multi-currency wallet helps you save with the best rates and zero fees. Skip the money changer and get a free YouTrip card + S$5 YouTrip credits with code <YTBLOG5>.
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How to Open a UOB One Account Online
- Visit the UOB Singapore website → go to ‘Savings Accounts’ → select UOB One Account.
- Click ‘Apply Now’ – you’ll be directed to an e-form for online application.
- Use MyInfo for faster processing – Singaporeans and PRs can prefill personal details via MyInfo.
- Complete the application → upload any required documents and submit.
- Receive approval – in many cases, you’ll get instant account approval and can start using your account immediately.
UOB One Account Review
👍 Pros:
- High interest rates (up to 4.5% p.a.)
- Straightforward criteria
- Great cashback via UOB One Card
- Easy to track with the UOB TMRW app
👎 Cons:
- Fall-below fee (S$2 if balance < S$1,000)
- Interest capped at S$150,000
- Overseas spending incurs FX fees
⚖️ Verdict:
- Use the UOB One Account to grow savings locally.
- Use YouTrip as your travel card to avoid FX fees and enjoy better rates abroad.
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UOB One Account & UOB One Card FAQs
Q: What are the benefits of a UOB One Account?
High interest (up to 4.5% p.a.) + cashback pairing with UOB One Card.
Q: Is there a minimum balance for the UOB One Account?
Yes, S$1,000 (S$2 fall-below fee applies).
Q: Is the UOB One Card worth it?
Yes, for local spending. But for overseas travel, YouTrip is a better option.
Q: Can I open a UOB One Account online?
Yes, in minutes via UOB’s website (with MyInfo).
Q: Should I use the UOB One Card overseas?
Not ideal — FX fees apply. Use YouTrip for 0% FX fees and better exchange rates.
Looking to Save on FX Fees?

If you’re looking for a travel card with no annual or foreign transaction fees, consider our trusty YouTrip card! Not a YouTrooper yet? Singapore’s go-to multi-currency wallet helps you save with great FX rates and zero fees. Skip the money changer and get a free YouTrip card + S$5 YouTrip credits with code <YTBLOG5>.
Then, head over to our YouTrip Perks page for exclusive offers and promotions — we promise you won’t regret it. Join our Telegram (@YouTripSG) and Community Group (@YouTripSquad) for travel tips, event invites, and more!
Happy travels!
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