Our Reaction To 1 Aug 2018 Revised UOB One Account

Despite spending less time writing posts on my blog, I still read up on the articles by other bloggers. After all, there’s a lot of useful information to be picked up from them. Recently, I read Heartland Boy’s post on An Eye-Popping 3.88% For The Revised UOB One Savings Account. I like the analysis and found it to be more practical than the notification I got from UOB about the same change.

This comes at a good time for us. We have already maxed out the high interest savings accounts that we have with the remaining cash funds being rotated through the Stan Chart ESaver Accounts to take advantage of the promotional interest rates. The increase in the upper limit of the UOB One Account with a slightly higher effective interest rate means that we can divert more of our cash holdings to it for higher interest earned.

On 1 Aug 2018, I can transfer S$25,000 into my UOB One Account and my wife can transfer S$25,000 into her UOB One Account. We would still have about S$100,000 rotating through the Stan Chart ESaver Accounts after this. It’s slowly being invested during market dips and we have been patiently waiting for opportunities on individual stocks & ETFs to surface. This is on top of our regular automatic and robo-advisor monthly investments into ETFs, whereby the amounts are drawn from our salary income for that month.

Which means that we will continue to retain that S$100,000 for manual investments. When work gets tough, I feel tempted to increase the utilisation rate of this investment cash holding. This has been the case lately as both our jobs undergo another round of restructuring. Even if we survive, our teams get leaner, which means more work to be done by us for the same pay due to having less people around. It’s an annoying situation to be in and usually results in low team morale. All around creating a negative work environment. Seems like this year is all about weathering the storms!