bank::UOB

Posted on by tiger40490 rendered_on [ Thu, 6 Mar 2025 ] 18:50 UTC

==== the uobOne promo

  • maintain 150k (better than MCSA) in uobOne and receive $500 early each month, based on 1) crediting 2) card spend
  • card spend $500/M (based on posting date) .. THE stringent condition
  • FSC (fake salary-crediting) may not work. Real risk of lost int .. for 1M my 150k would earn virtually zero interest.

(Inferior to MCSA) Warning — you earn paltry/negligible interest if you miss the $500 spending threshold. I told UOB staff this is a stiff penalty for customers and a stressor for me.

(similar to MCSA) If you keep more than 150k then the excess balance earns a paltry DIR.

— (similar to MCSA) Q: to ensure I _always_ meet $500 card spend, what purchases?

  • Cristofori via Atome
  • scheduled starhub + pacLight
  • TC, spower

If I take up uobOne, then MCSA promo’s card spend will be LG2. I don’t have bandwidth for both.

— (similar to MCSA) Q: will the 4 ppa last?
(similar to MCSA) AA: “may drop a bit”
(similar to MCSA) %%A: I can stop any time

— UOB promo compared to MCSA promo

operational risk (and adjustment) .. I’m less familiar with uobOne requirements (more stringent than MCSA) and may overlook something, and pay a price in the form of /foregone_income/. If the additional income is modest, then perhaps stay within my comfort zone.

Yearly additional income calc, assuming “next-best parking” is SCB or EGA paying 3.5 ppa:

  • UOB over next-best for 50k is 50k * (4 ppa – 3.52 ppa) = $240/Y
  • BOC over UOB for first 100k is $353/30 * 365 – $4k  = $295/Y, beating UOB
  • Note BOC paid me $353 over 30 days.

Yearly income of (4%*150k=) $6k UOB vs BOC+nextBest

  • (conservative) $353/30 * 365 = $4295/Y …. 4.3% of 100k
  • (conservative) 3.4 ppa * 50k = $1700/Y
  • ^^^^^^^^^^^^^^^^^^^^^ $5995 matching UOB

— Another comparison, assuming I shift $500/M spend from BOC to UOB, so BOC yield drops by 50 bps

Annual addiontial income calc

  • $9800 = BOC 100k * 3.8% + UOB 150k * 4% ( excluding X on 3.4% )
  • $9400 = BOC 100k * 4.3% +           150k * 3.4% ( excluding X on 3.4% )

Sugg: consider this change when SCB or EGA promo drops from 3.4 ppa to 3 ppa.