• Earn a higher yield on surplus fundsEarn a higher yield on surplus funds

    Earn a higher yield on surplus funds

    It is often a challenge to find a balance between maintaining sufficient working capital and maximising yield on excess funds. UOB’s FlexiYield Account option ensures that your surplus funds work harder to fund future growth and at the same time gives you the flexibility to access funds for planned payments. Let us reward you for planning ahead for your working capital needs.

UOB Flexiyield Account

What customers say about UOB Flexiyield Account

  • My money works harder for me as I automatically earn an interest on my balances from the day I make my deposits.
  • Compared to Fixed Deposits, FlexiYield saves me administrative effort and gives me more flexibility as I can place in any amount, any time.
  • In the event where I need to access my money urgently, prior to the 31 day notice, I can do so and a charge is applied only on the amount withdrawn.

About Flexiyield Account

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How do I use Flexiyield Account?

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  • This is a notice account which gives a higher yield on funds when a 31-day notice is given prior to withdrawals.
  • The account is ideal for maximising returns on surplus corporate funds in the interim period leading up to scheduled payment dates.
  • Place surplus funds into the account to earn an attractive interest from the moment they are deposited.
  • Send a withdrawal notice to the bank 31 days prior to when the funds are required.
  • Upon receipt of the withdrawal notice, the bank will disburse the funds 31 days later to the specified beneficiary.
  • Should you require the funds urgently and cannot provide a 31 day notice, a penalty fee will be charged on the amount withdrawn only.
  • Earn attractive interest on balances in the account
  • Enjoy the flexibility of depositing funds in any amount at any time

How is UOB Flexiyield Account applicable to businesses?

Company O accumulates excess funds and periodically places it into fixed deposits. Over time, the company manages multiple fixed deposit tickets each with different maturity dates. In the administration of each ticket, their finance staff will request for rates from the bank and obtain signatures from Company’s authorised signatories. The process is repeated each time a ticket matures.

With Flexiyield, Company O is able to reduce administrative effort and also enjoy the convenience of transferring funds into the Flexiyield account anytime to start earning a yield on the balance. An instruction only needs to be given when withdrawals are required.

Company P has S$1 million in excess funds and places it into a fixed deposit. Shortly after placing the fixed deposit, the company requires $100,000 to make an urgent and unforeseen payment and needs to break the fixed deposit. As a result the company incurs a breakage cost calculated on the S$1 million.

In contrast, if Company P had placed excess funds in FlexiYield, the penalty charged for not meeting the 31 day notice period would be calculated based on the withdrawal of S$100,000 only.

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