**What Is The Current Interest Rate For Direct Unsubsidized Loans** – A UOB account offers an effective interest rate of up to 5% for deposits up to $100,000.

The UOB One account has consistently been the favorite high-yield savings account in the Beansprout community, especially after they increased the maximum bonus interest rate on the UOB One account from 3.6% to 7.8% p.a.

## What Is The Current Interest Rate For Direct Unsubsidized Loans

The UOB One account is a UOB savings account that allows you to make the least effort to earn the maximum interest possible.

#### Current Student Loan Interest Rates

Let’s dive deeper to find out more about the UOB One account and how you can get the most out of the UOB One account.

The UOB One account allows you to get a low interest rate of up to 7.8% per annum with two simple steps.

All you have to do is spend at least $500 monthly on an eligible UOB credit/debit card and credit your salary through GIRO.

A UOB One account does not require you to buy insurance or invest in an investment scheme to unlock higher levels.

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If you’re in the middle of adulthood, you should have an easy time meeting the requirements to get a higher interest rate on a UOB One account.

To understand how the interest rate works on the UOB One account, let’s see the analysis below.

We will start by clarifying the interest rate earned on the UOB One account if you can credit your salary through GIRO.

For an initial average monthly balance of S$30,000 in your account, you earn an interest rate of 3.85% p.a. If you can spend at least $500 on an eligible UOB card and credit your salary through GIRO.

### Impact Of Federal Reserve Interest Rate Changes

The rate of interest earned increases to 3.90% p.a. On your next S$30,000 average monthly balance, all the way up to 7.80% p.a. Between S$75,000 and S$100,000 in your average monthly balance.

Note that the interest rate shown below is low and is only earned on a portion of your average monthly balance compared to your total deposits. This means that if you have a deposit of S$80,000, the interest rate of 7.80% per annum will only apply to your average monthly balance of S$75,000 to S$80,000 (ie deposits of S$5,000).

We can also check the effective interest rate earned on the UOB One account across different tiers. To calculate the effective interest rate, we can add up the total interest earned over the various degrees.

The effective interest rate is the average interest rate you will earn by dividing the total interest earned by your average balance.

## Direct Labor Efficiency Variance

The effective interest rate is earned when you spend at least $500 on an eligible UOB card and credit card via GIRO

You may also be interested to know that salary credit transfers made through PayNow reflected as “PAYNOW SALA” will be considered eligible for bonus interest in the UOB One account.

What is the interest rate on the UOB One account if I cannot credit my salary?

If you cannot credit your salary through GIRO, you can always make 3 GIRO debit transactions per month to qualify for the bonus interest rate (albeit slightly lower).

## Prime Rate Definition

Fortunately, there doesn’t seem to be any catch to the UOB One account. What you see is exactly what you get!

UOB One does not require you to deposit fresh funds to qualify for the bonus interest rate.

Also, note that the interest rate earned on your UOB One account drops to 0.05% per annum for your average monthly balance above S$100,000.

To maximize the benefits you get, you may want to consider a UOB Stash account or other high-yield savings account for balances above S$100,000.

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One thing you need to remember is that the $500 card spend must be made on an eligible card.

Eligible UOB credit cards include the UOB One Card, the UOB Women’s Card (all card types), and the UOB YOLO Credit Card.

Eligible UOB debit cards include the UOB One Debit Visa Card and MasterCard, the UOB Women’s Debit Card, and the UOB Mighty FX Debit Card.

UOB EVOL Credit Card, UOB Absolute Cashback Card and UOB Chris Flair Credit Cards are not eligible for UOB One Spend.

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If you’re looking for a hassle-free card, the UOB One Debit Card offers 10% cashback on dining, online shopping, groceries, transportation.

Sign up for a UOB Credit Card and enjoy a 1x chance to win your share of up to S$200,000 in prizes on SingSaver’s Epic 101! Milestone giveaways, plus a chance to win S$5,000 bonus cash every week on top of ongoing promotions.

In addition, the first 200 eligible UOB Credit Card members who spend at least S$1,000 per month for 2 consecutive months from the card approval date will receive S$350 worth of Grab vouchers.

Many of you may be wondering if UOB One Account is better than OCBC 360 Account and DBS Multiplier Account.

## Regular Saver Account

This is especially so after the DBS multiplayer account was simplified with effect from 1 August 2023.

As there are many levels involved, we have done the math to find out which is the best savings account in Singapore.

To find out the maximum interest rate you can earn on different savings accounts, check out our savings accounts comparison tool.

First, you can get S$30 cash back when you apply online for an eligible UOB Savings Account and deposit up to S$5,000 in fresh funds. This promotion is limited to 200 new UOB deposits / existing UOB deposits customers per month during the promotion period.

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Then, get an extra S$130 cash back in the UOB SalaryPlus promotion when you pay your bills, credit your salary and contributions with UOB.

To qualify for the UOB SalaryPlus promotion, register here between 1 October 2023 and 30 December 2023 (both dates inclusive).

Finally, get guaranteed cashback of up to S$1,500 when you top up an eligible UOB savings account and register your subscription.

We love the UOB One account because it allows you to earn attractive interest rates on your deposits with little effort.

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It is also very simple for the average working adult in Singapore to meet the requirements in two categories to reach the highest interest rate of 7.8% per annum.

With an effective interest rate of up to 5.0% per annum, the interest rate on the UOB One account is the highest among savings accounts in Singapore. In fact, it is higher than T-Bill and Singapore Savings Bond.

The downside of the UOB One account is that the interest rate drops to 0.05% per annum for your average monthly balance above S$100,000. A yield savings account for balances above S$100,000.

Join the Beansprout Telegram Group and Facebook Group to get the latest tips to make your savings work harder.

#### Student Loan Interest Rates: Everything You Need To Know

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We are on a mission to help you improve your financial well-being. Beansprout believes that with the right tools and knowledge, anyone can be an investor. And a really smart one at that! To help control inflation, the US Federal Reserve (Fed) raised interest rates to their highest level in 15 years – now in a target range of 5.00%-5.25% after the May 2023 meeting. While most of the Fed’s rate hikes appear to be in the rearview mirror, the Fed is expected to raise rates a bit more in 2023. Whether the rate hike scenario qualifies as good or bad news, it may depend on your perspective – and te horizon.

When rates rise, bond prices fall, which can create arbitrage pain for fixed income investors. However, rising rates are good for a bond’s “yield” or coupon return. Rising rates mean more income, which compounds than te, enabling the bondholder to invest the coupons at a higher rate (more on this “bond math” below). Overall, higher prices offer the potential for larger earnings and total returns in the future. So, now that there is more potential for income in the bond markets than in many years, perhaps now is an opportune time to review some bond fundamentals.

Bonds are debt securities issued by governments and corporations to finance their operations. Investors can buy bonds from the issuer, who is then required to pay interest on a regular schedule for a set number of years. (This is why bond investments are also known as fixed income.) The amount of interest paid reflects the prevailing interest rate environment at the time of issuance and is determined over the life of the bond. This is where inflation concerns may enter the equation.

#### Live Update: Federal Reserve Interest Rates Remain Unchanged

Regardless of whether the bond is issued by a government or a corporation, the mechanics of bond pricing are the same. Bonds are issued at a specific rate of interest that the issuer will pay to investors, known as the coupon. Once issued, coupons never change – but prevailing interest rates can. When this happens, the existing bond coupon rate may become more or less attractive by comparison.

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