Hi Everyone!
Today I just create UOB One Account and will be fully utilize it next month because I still need to wait for my UOB one Credit Card and have to make GIRO arrangement for three phone bills. So I will have to wait till November before I make any move.
The below is the illustration on what I am going to achieve.
I will satisfy the Credit card portion and the 3 Giro transaction criteria in order to get the maximum amount of interest that I will get. This will give me 2.432% without including the rebate. It is better than Ocbc 360 as OCBC 360 only gives 2.2% (Max) by fulfilling 3 criteria.
So, am I going to close my OCBC 360 account?
My answer is NO. The reason I am not closing this account is because I am greedy, I want the best of both world. for OCBC 360, I will try to get more bills to pay as now I have 3 telephone bills, one internet bill and one credit card bill. So I will need just one more, probably OCBC credit card bill in order to fulfill the 3 transactions. Adding to that, I will still be crediting my salary to OCBC 360.
As I mention in my goal, I aim to have $100K cash, but I won't be focusing so much on stocks because I will need the money in two years time. So most of my cash are in banks which gives me 2% interest per year on average.
Getting around $1.4K from UOB and around $400 from OCBC (basic projection, might be more or might be less, depending how much I invest in stocks). Dividends I hope to get around $600 in order to hit my target.
