Am I eligible to apply for UOB Wealth Premium Account?
Let’s go through the checklist below to find out if you are qualified to sign up for UOB Wealth Premium Account:
- You must be at least 21 years old;
- You must be a customer of UOB Wealth Banking with a minimum balance of RM150,000 in deposit and/or investment; and
- Malaysians with NRIC or Foreigners with valid Passport.
Now, if you have met all the requirements above, prepare a minimum initial deposit of RM5,000 to open this premium current account.
What benefits can I get from UOB Wealth Premium Account?
As this current account is targeting at mass affluent customers, the benefits are specially tailored to meet your wealth needs.
The bigger the amount you have in this current account, the higher the interest rate you will earn as UOB Wealth Premium Account also considers your total banking relationship with the bank.
Meaning, the interest rate will be applied on your total asset under management (your financing and/or investment such as Fixed Deposit, Unit Trust, structured investment products etc) with UOB Wealth Banking.
That’s not all, you are also entitled for SMART$ Cash Program, i.e. a cash rebate program that allows you to redeem items at participating merchants through cashback.
Do I get an Overdraft Facility upon Current Account opening?
Overdraft facility will be granted to you, subject to an agreed limit. You can over draw the amount in your current account and will be charged an interest rate of 3.5% p.a. above the Prescribed Rate.
This overdrawn amount will be deemed as a loan or debt which you must repay within a specified period.
Do I get a free cheque book and debit card?
You can request for a cheque book to perform large and recurrent transactions at a small issuance fee. Besides, you will be issued with a UOB Debit MasterCard so that you can perform seamless transactions and cash withdrawals.
What are the fees and charges I should know?
These are few but significant fees and charges you should be aware of:
- Commitment Fee on unutilized standby credit: Not Applicable
- Monthly Account Consolidation Fee: RM5
- Early Account Closure: RM20, if closed within 3 months of opening
- Debit Card Annual Fee: RM8
- Cheque Processing Fee: RM0.53 per leaf, plus RM0.15 Stamp Duty
- Dishonoured Cheque: RM100, due to insufficient funds
- Stop Payment Cheque: RM100, due to insufficient funds
- GST: 6%, where applicable
Is my money protected under PIDM?
Absolutely. Your deposit will be protected under PIDM for up to RM250,000.