Too busy to catch up on the news? We get it, especially with the short work week following Monday’s public holiday. Whether you’re planning your next move in the property market or just want to know if your savings account is still pulling its weight, we’ve got you.
Let’s take a look at what’s happening this week—quick, simple, and zero jargon.
TLDR;
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Want more details? Let’s dive in.
Psst, missed last week’s issue? View all past editions of What’s Happening This Week? to catch up.
The UOB One savings account is (also) getting nerfed
Remember how I was saying last week that the UOB One savings account is a good alternative to the soon-to-be-nerfed OCBC 360 one? I take that back—because UOB One is now getting nerfed too.
Here are the changes that the UOB One Account will implement from 1 May 2025:
| Account Monthly Average Balance | $500 spend per month on eligible UOB Card | $500 spend per month on eligible UOB Card + 3 GIRO debit transactions | $500 spend per month on eligible UOB Card + credit salary via GIRO |
| First $75,000 | 0.65% | ||
| Next $50,000 | 0.05% | ||
| Next $25,000 | 0.05% | 0.05% | |
| Above $150,000 | 0.05% | 0.05% | 0.05% |
You can currently earn an effective interest rate (EIR) of 4.00% p.a. on your first $150,000 with the UOB One account when you spend on a UOB credit card and credit your salary to the account.
This rate will drop to 3.30% from 1 May 2025. Here’s a summary of the effective interest rates.
| Effective interest rates on UOB One Account from 1 May 2025 | |||
| Account Monthly Average Balance | $500 spend per month on eligible UOB Card | $500 spend per month on eligible UOB Card + 3 GIRO debit transactions | $500 spend per month on eligible UOB Card + credit salary via GIRO |
| $75,000 | 0.65% | 1.50% | 2.30% |
| $125,000 | 0.41% | 1.90% | 2.90% |
| $150,000 | 0.35% | 1.59% | 3.30% |
| $200,000 | 0.275% | 1.21% | 2.49% |
With a maximum EIR of 3.30% p.a., the UOB One and OCBC 360 savings accounts are neck to neck. That said, there are 2 advantages of using UOB One compared to OCBC 360:
- No “Save” component—OCBC 360 requires you to increase your average account balance by $500 each month, which restricts your withdrawals. None of that with UOB One.
- The UOB One’s 3.30% p.a. applies to the first $150,000, whereas OCBC 360’s 3.30% p.a. applies to the first $100,000 only. For those with larger stashes of money to bank in, UOB One is the better choice.
3,000 Sale of Balance flats, 5,400 Build-to-Order flats expected in Jul 2025
Good news if you’re house hunting: HDB is rolling out about 3,000 balance flats in Jul 2025, its second Sale of Balance Flats (SBF) exercise for the year. These are leftover flats from previous launches, and they’re often snapped up quickly–the February launch saw over 22,000 people vying for just 5,590 units! This brings the total number of balance flats offered in 2025 to a whopping 8,500—the highest in years.
Alongside the Jul 2025 SBF, around 5,400 new Build-to-Order (BTO) flats will also be launched across 7 towns including Bukit Merah, Clementi and Tampines. We’ll be sure to review the upcoming BTO launch when more details are released, so watch this space.
In the meantime, prepare yourself. If you’re keen to apply during the Jul 2025 sales exercises, don’t forget to get your HDB Flat Eligibility letter by 15 May 2025!
GXS Bank launches new savings challenge: Pocket is Right
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GXS Bank has a fun new savings challenge—introducing their new Pocket is Right campaign. Each month from Apr 2025, you stand a chance to win the cash value of a luxury holiday by simply guessing its price!
This month’s dream trip is a 4D3N seaside-and-mountain escape to Morocco. It’s inclusive of round-trip economy class flights on a full-service airline, plus a stay in a private pool villa. Whew.
Here’s how to take part:
- Open a new GXS Saving Pocket and name it “Morocco”. For subsequent months, name it after that month’s featured destination.
- Deposit an amount you think matches the total cost of the trip (including flights and accommodation) between 1–30 Apr 2025.
- Hold your funds until 30 May.
- The two closest guesses win the full cash equivalent of the trip!
Even if you don’t win the big prize, you can still get a sure-win cashback of $1 to $20 when you deposit at least $2,000. New customers also get extra perks like triple GrabRewards points and 2 months of Amazon Prime, free.
HDB resale prices slow to 1.5% in Q1 2025
HDB resale prices went up by 1.5% in the first quarter of 2025—the smallest jump we’ve seen in over a year. Why the slowdown? Well, with more BTO and Sale of Balance flats up for grabs, buyers have had more choices, so the resale rush has eased a bit. Fewer people bought resale flats too—down 7.7% compared to last year—probably thanks to the usual slow start to the year and all the BTO buzz.
But don’t get too comfy – experts think prices might bounce back soon as more buyers return to the market. Supply’s still a bit tight for now, since fewer flats hit their 5-year mark recently. The good news? More resale flats are coming, and the government’s got over 50,000 new BTOs planned through 2027. Plus, another SBF launch is happening in July. So while things have cooled slightly, the heat could return pretty quickly!
Shell’s April deals: Shell V-Power at the price of FuelSave 98
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If you drive or ride, Shell’s got some sweet perks for you this April. On the weekends of 5–7 April and 12–14 April, you can pump Shell V-Power at the price of FuelSave 98—more performance without the premium price.
Plus, with 2 top-ups, you can unlock some juicy e-vouchers via Shell GO+.
- Drivers who pump 50 litres of V-Power can score 4 x $6 fuel vouchers (min. spend $88) and 4 discounted car washes at just $6 each.
- Riders aren’t left out—pump 15 litres and get 4 x $1 vouchers for future fills.
Plus, Shell GO+ now makes it even easier to earn points across fuel, car washes, and snacks, which can be redeemed for fuel savings or lifestyle treats. Bonus: pump 20 litres of V-Power this month and grab a free Shell Café coffee.
M1 Maxx plans now come with eSIMs
If you hate waiting around for SIM card deliveries or making trips to the store, M1’s got something new—eSIM support for its Maxx SIM-Only plans. That means you can now activate your plan online in just a couple of minutes, without needing a physical SIM at all. Super convenient, especially if you’re always on the go.
The Maxx plans are already pretty popular for their huge data bundles—think 290GB for local use, plus 10GB roaming across countries like Malaysia and Thailand, and 2GB of international roaming. All that from just $7.90 a month, and no contract required for these SIM-only plans.
The new eSIM option doesn’t cost extra and works on most modern phones. You can grab it straight from maxx.sg or drop by a Maxx retailer.
That’s it for this week! Stay tuned for next week’s What’s Happening This Week to keep up with the latest in finance, business, and beyond.
About the author
Vanessa Nah likes her finance articles the way she likes her sitcoms—light-hearted, entertaining, and leaving people knowing a little more about life. She believes money—like life—should be made simple. Outside of work, you’ll find Vanessa attending dance classes, fingerpicking a guitar, and fulfilling her life mission to make her one-eyed cat the most spoiled kitty in the world.
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