Last month, UOB introduced “The Unstoppable Pairing”, a programme which awards bonus UNI$ to UOB Ladyโs Cardholders who open a UOB Ladyโs Savings Account.
I think the title rather oversold the concept, but silly name aside, there was a case to be made for a token S$10,000 deposit, in order to continue earning 6 mpd on the UOB Lady’s Card (instead of the regular 4 mpd it’s now reverted to).
However, there’s one catch: just like the UOB Lady’s Card prior to July 2023, only females can apply for a UOB Lady’s Savings Account. Men who try are met with an error message.
But holster those pitchforks, gents, because UOB’s had a change of heart. From 1 May 2024, the UOB Lady’s Savings Account is going gender-neutral.
UOB Lady’s Savings Account to accept male applicants
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| โ Key Facts: UOB Lady’s Savings Account |
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| FAQs |
From 1 May 2024, both women and men can open a UOB Lady’s Savings Account, enjoying bonus UNI$ from their spend on the UOB Lady’s Card or UOB Lady’s Solitaire Card.
Given that one of the key selling points of this account is its female cancer coverage, the natural question is how that works for men. The answer is it doesn’t. Men won’t be eligible for the female cancer benefit, which offers up to S$200,000 of coverage as summarised in the table below.
| Monthly Average Balance (Rolling average of the past 3 months) |
Coverage (Female cancer benefit sum assured) |
| S$1 โ S$10,000 | S$1,000 |
| S$10,001 โ S$25,000 | S$10,000 |
| S$25,001 โ S$50,000 | S$25,000 |
| S$50,001 โ S$75,000 | S$75,000 |
| S$75,001 โ S$100,000 | S$100,000 |
| More than S$100,000 | S$200,000 |
But frankly speaking, I doubt they’ll care. If you need cancer coverage, go get a dedicated plan for that. The real highlight for miles chasers is the ability to earn bonus miles from the account, ranging from 2-6 mpd depending on Monthly Average Balance (MAB).
| Monthly Average Balance | UNI$ from Lady’s Savings Account | UNI$ from Lady’s or Lady’s Solitaire Card | Total |
| <S$10K | N/A | 10X UNI$ (4 mpd) |
10X UNI$ (4 mpd) |
| S$10,000 to S$49,999 | 5X UNI$ (2 mpd) |
15X UNI$ (6 mpd) |
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| S$50,000 to S$99,999 | 10X UNI$ (4 mpd) |
20X UNI$ (8 mpd) |
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| S$100K and more | 15X UNI$ (6 mpd) |
25X UNI$ (10 mpd) |
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| Limited time promotion ending 31 March 2025 |
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I’ve run the numbers, and given the miserable 0.05% p.a. interest you earn with the UOB Lady’s Savings Account, the only way the math works is if you:
- Hold a UOB Lady’s Solitaire Card
- Spend S$2,000 each month on your bonus categories
- Deposit S$10,000 into the UOB Lady’s Savings Account
| ๐ฐ Deposit: S$10,000 (Extra 2 mpd from Lady’s Savings Account) |
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| Value of a Mile | Yearly Interest (UOB Lady’s Card) |
Yearly Interest (UOB Lady’s Solitaire) |
| 2 cents | 4.8% | 9.6% |
| 1.9 cents | 4.6% | 9.1% |
| 1.8 cents | 4.3% | 8.6% |
| 1.7 cents | 4.1% | 8.2% |
| 1.6 cents | 3.8% | 7.7% |
| 1.5 cents | 3.6% | 7.2% |
| 1.4 cents | 3.4% | 6.7% |
| 1.3 cents | 3.1% | 6.2% |
| 1.2 cents | 2.9% | 5.8% |
| 1.1 cents | 2.6% | 5.3% |
| 1 cent | 2.4% | 4.8% |
| Highlighted in yellow = my personal value of a mile | ||
| How to read this table: If your funds can earn more than the interest rate shown in columns 2 and 3, you should not use the UOB Lady’s Card | ||
That way, you earn an extra 4,000 miles per month (S$2,000 @ 2 mpd), which given a 1.5 cents per mile valuation will outweigh the opportunity cost on that S$10,000 (unless you can reliably generate more than 7.2% p.a., in which case Hodlnaut wants to have a word).
The case is more marginal for a UOB Lady’s Cardholder, though it really boils down to your value of a mile.
One thing is clear though: unless you’re really, really bad with your money, please don’t put S$50,000 or S$100,000 into this account, because the extra 4 mpd or 6 mpd will almost certainly be inferior to what you could have otherwise earned with those funds.
| ๐ฐ Deposit: S$50,000 (Extra 4 mpd from Lady’s Savings Account) |
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| Value of a Mile | Yearly Interest (UOB Lady’s Card) |
Yearly Interest (UOB Lady’s Solitaire) |
| 2 cents | 1.9% | 3.8% |
| 1.9 cents | 1.8% | 3.6% |
| 1.8 cents | 1.7% | 3.5% |
| 1.7 cents | 1.6% | 3.3% |
| 1.6 cents | 1.5% | 3.1% |
| 1.5 cents | 1.4% | 2.9% |
| 1.4 cents | 1.3% | 2.7% |
| 1.3 cents | 1.2% | 2.5% |
| 1.2 cents | 1.2% | 2.3% |
| 1.1 cents | 1.1% | 2.1% |
| 1 cent | 1.0% | 1.9% |
| Highlighted in yellow = my personal value of a mile |
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| How to read this table: If your funds can earn more than the interest rate shown in columns 2 and 3, you should not use the UOB Lady’s Card |
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| ๐ฐ Deposit: S$100,000 (Extra 6 mpd from Lady’s Savings Account) |
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| Value of a Mile | Yearly Interest (UOB Lady’s Card) |
Yearly Interest (UOB Lady’s Solitaire) |
| 2 cents | 1.4% | 2.9% |
| 1.9 cents | 1.4% | 2.7% |
| 1.8 cents | 1.3% | 2.6% |
| 1.7 cents | 1.2% | 2.4% |
| 1.6 cents | 1.2% | 2.3% |
| 1.5 cents | 1.1% | 2.2% |
| 1.4 cents | 1.0% | 2.0% |
| 1.3 cents | 0.9% | 1.9% |
| 1.2 cents | 0.9% | 1.7% |
| 1.1 cents | 0.8% | 1.6% |
| 1 cent | 0.7% | 1.4% |
| Highlighted in yellow = my personal value of a mile | ||
| How to read this table: If your funds can earn more than the interest rate shown in columns 2 and 3, you should not use the UOB Lady’s Card |
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How is MAB calculated?
MAB is derived from this formula:
Sum of day-end balance in UOB Lady’s Savings Account รท Number of calendar days in each calendar month
In the account opening month, the MAB will be derived based on the number of calendar days from the account opening date till the end of the calendar month.
If you’re planning to deposit the bare minimum S$10,000, be sure to do so the very day you open your account! If you don’t, your MAB will be <S$10,000, and you won’t earn any bonus miles for that month.
Inward funds transfers via FAST/PayNow performed after 10.30 p.m on a business day will carry the value date of the next business day. Inward Fund Transfers received on a non-business day (Sundays, Public Holidays) will carry the value date of the next business day.
So be careful to open your Lady’s Savings Account on a business day, before 10.30 p.m, and transfer in funds immediately.
What’s in a name?
Given that the UOB Lady’s Card and UOB Lady’s Savings Account are or will soon be gender neutral, does the “Lady’s” branding still mean anything?
UOB’s anticipated that question already, and answers it at point 19 of their FAQs.
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19. What are the differentiating benefits that females will get to enjoy with the UOB Ladies will continue to enjoy all the benefits that come with the UOB Ladyโs Credit Card and Ladyโs Savings Account, including the exclusive ones only available to females such as |
Truth be told, it’s really just the cancer coverage. The birthday promotions that UOB talks about don’t skew exclusively female. Yes, there’s the expected stuff like spa treatments, face lifts and hair removal, but there’s nothing stopping a dude from going for that. Besides, there’s other things like dining privileges, and good food all comes out the same hole anyway.
Conclusion
The UOB Lady’s Savings Account will be open to men from 1 May 2024, and anyone who wishes to continue earning 6 mpd on their UOB Lady’s Card can do so by making a S$10,000 deposit.
Come to think of it, UOB’s decision to nerf the One Account makes the Lady’s Savings Account more attractive too, insofar as it lowers the opportunity cost of your funds. I have yet to test it myself, but I see no reason why your spending on the UOB Lady’s Card won’t double count towards both the One and Lady’s Accounts, so you can kill two birds with one stone.
Hi Aaron if I know that I will spend 2k this month, can I deposit 10k this month to earn the extra 2mpd and withdraw it next month, and repeat when necessary?
sure, provided you meet the MAB.
And donโt forget the Fall-below fee: S$2 (if average balance <S$1,000, waived for first 6 months for accounts opened online)
Love the cover pic LOL
For 2 mpd on other categories, wouldn’t it become the best general spending card in SG? We could combine it with CardUp as well.
2 mpd only applies to your chosen bonus categories