So UOB has finally moved to counter DBS and OCBC's increased interest rates on their Multiplier and 360 products.
The headline rate of 7.8% is of course clickbait and to be fair, this is what their competitors do as well. The rate applies if you jump throughout the right hoops
There is a calculator on their website to help you calculate the interest you can earn
There's also a couple of promotions going on.
You can read about this product here
The interesting part about these products is the addition of a calculator on their website to help customers calculate their potential interest. I applaud the use of technology to help customers, but it suggests that these products are getting overly complex.
These product is obviously not the same as your normal fixed deposits and you should look at them as different tools for your personal finance needs. You should also read the conditions very carefully, as they are much more complicated. Caveat Emptor.
None of the above should be construed as investment advice. Do your own due diligence as I will not be responsible for any loss/risk.
There's also a couple of promotions going on.
You can read about this product here
The interesting part about these products is the addition of a calculator on their website to help customers calculate their potential interest. I applaud the use of technology to help customers, but it suggests that these products are getting overly complex.
These product is obviously not the same as your normal fixed deposits and you should look at them as different tools for your personal finance needs. You should also read the conditions very carefully, as they are much more complicated. Caveat Emptor.
None of the above should be construed as investment advice. Do your own due diligence as I will not be responsible for any loss/risk.
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