UOB Indonesia enhances the UOB One Account to offer customers progressive bonus interest on their savings and spending

Jakarta, 13 September 2021 – UOB Indonesia has enhanced its UOB One Account to help customers earn progressive bonus interest on their savings and spending. The progressive bonus interest that customers can earn on top of the basic interest rate1 ranges from 1.00 per cent to 3.50 per cent per annum for deposit balance tiers of between IDR25 million and IDR500 million. This makes the UOB One Account aggregate interest rate higher than standard savings or transactional accounts offered in Indonesia.

UOB One Account holders will also earn higher interest rates on a wider range of transactions. They can enjoy the first tier bonus when they perform one of the four requisite transactions monthly – open a new UOB One Account, deposit a minimum of IDR250,000 in fresh funds, spend a minimum of IDR1 million monthly on their UOB debit or credit card or top up their e-wallets or make two bill payments (minimum IDR100,000) through UOB Personal Internet Banking or the TMRW mobile app. Customers will unlock the second tier bonus rate when they perform two of these transactions monthly. (For more information, please refer to ‘Notes to media’.)

Throughout the COVID-19 pandemic, many consumers delayed their spending on discretionary items given the uncertain outlook on when the situation would improve and the potential long-term impact on their finances.

As restrictions gradually lifted and the economy grew for the first time since the COVID-19 outbreak by 7.07 per cent year-on-year in the second quarter of 2021, domestic consumption improved. According to Bank Indonesia , the value of debit card and credit card transactions in June 2021 increased 34.7 per cent and 15.8 per cent year on year respectively.

Mr Khoo Chock Seang, Executive Director, Head of Personal Financial Services and Digital Bank, UOB Indonesia, said, “At UOB Indonesia, we develop and enhance our progressive solutions to help our customers achieve their financial and lifestyle goals. We designed the UOB One Account to help our customers stretch their dollar for day-to-day household spending and banking transactions.

“Even as the recent surge in COVID-19 infections dampened consumption sentiment in the last two months, our customers can get the most out of the enhanced UOB One Account and earn higher interest simply by building up their savings, spending on their UOB debit or credit card and managing their finances using our internet banking service or the TMRW mobile app. By encouraging saving and prudent spending, we can help our customers build their nest egg wisely and effectively. ”