UOB ties up with KrisFlyer to land S$1.5b in deposits

Singapore

UOB is speeding up the chase for miles in the competitive cards space, and now expects to bring in S$1.5 billion in deposits in the next five years via a new current account tied to miles redemption through Singapore Airlines' (SIA) KrisFlyer programme.

UOB and SIA on Tuesday launched the KrisFlyer UOB Account, which allows customers to earn KrisFlyer miles when they save or spend. This is aimed at customers who prefer to spend on a debit card, or millennials who may not be eligible for a credit card to accumulate KrisFlyer miles.