United Overseas Bank (UOB) has rolled out a new business kit that is aimed at supporting start-ups and small- and medium-sized enterprises (SMEs) in Singapore.
The kit, which is eligible for Singapore-incorporated businesses with at least 30% local equity held directly or indirectly by Singaporeans and/or permanent residents (PRs) holding a UOB business account, helps businesses manage and scale up their operations seamlessly through a series of targeted services.
This includes an e-Business account that offers free bulk GIRO transactions, access to the UOB Infinity and UOB SME app, as well as collateral-free bankers’ guarantee of up to $10,000 without placing any deposits and without annual and facility fees.
The kit also offers three months free business insurance that covers nine risks such as public liability, burglary, cyber risks, unforeseen and sudden physical loss or damage to electronic equipment, loss of money or property due to employee fraud and more.
The kit is part of UOB’s BizSmart suite of digital solutions, which integrates accounting, point-of-sale (POS), payment, human resource (HR), and payroll systems with business banking accounts. UOB’s BizSmart digital advisers also offer consultations to help businesses adopt and optimise digital tools for greater efficiency and growth.
