UOB trims One Account interest rate again; maximum 2.5% per annum on first S$150,000
With effect from Sep 1, the maximum effective interest rate on the One Account will be cut to 2.5 per cent per annum on the first S$150,000, down from 3.3 per cent.
UOB had already announced a cut earlier in April – With effect from May 1, the maximum interest rate was cut to 3.3 per cent from 4 per cent.
UOB is not the only bank to lower rates on its flagship deposit account twice this year – OCBC had already announced its second cut in June.
With effect from Aug 1, the maximum effective interest rate on OCBC's 360 Account is lowered to 5.45 per cent per annum on the first S$100,000.
OCBC had previously, on May 1, cut the maximum rate to 6.3 per cent from 7.65 per cent.
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