uob fixed deposit rate
uob fixed deposit rate
Blog Article
A hard and fast deposit is a well-liked discounts selection for people seeking to receive fascination on their funds in excess of a specified period of time. UOB (United Overseas Financial institution) is amongst the foremost financial institutions in Asia and presents several fastened deposit goods tailored for customers in Singapore.
Precisely what is a hard and fast Deposit?
Definition: A hard and fast deposit (FD) is a economic instrument where you deposit income for just a predetermined interval, earning desire at the next price than normal cost savings accounts.
Duration: The expenditure phrase can range from as shorter as a person month to quite a few a long time.
Crucial Functions of UOB's Singapore Dollar Fastened Deposit
Competitive Interest Fees
UOB presents eye-catching curiosity fees that will vary determined by the tenure and quantity deposited.
Versatile Tenure Solutions
Buyers can choose tenures ranging from 1 month nearly 60 months, making it possible for them to align their investments with personal fiscal plans.
Minimum Deposit Amount of money
The minimal volume needed to open an FD account may well change; normally, it commences all-around SGD one,000.
Fascination Payment Selections
Fascination is often credited regular monthly or upon maturity, according to client preferences.
Early Withdrawal Penalties
Withdrawing funds before maturity may incur penalties or reduced desire premiums; Consequently, it is important to look at liquidity wants ahead of investing.
Security and Security
Deposits are insured underneath the Singapore governing administration's plan for approximately SGD 75,000 per depositor for every lender.
Added benefits of Choosing UOB
Track record & Trust: As one of Asiaâs primary banking institutions, UOB has established by itself as dependable and trusted.
On the web Administration: Buyers can handle their fastened deposits quickly via on line banking platforms with no need Bodily visits to branches.
Advertising Offers: From time to time, UOB supplies marketing fees that provide better still returns for the duration of unique durations or situations.
How It Works
Open up an Account:
Go to any UOB department or use on-line banking solutions.
Select Your Deposit Volume and Tenure:
Come to a decision the amount you would like to invest and choose your desired period.
Fund Your Deposit:
Transfer money into your new FD account making use of money or other payment solutions provided by the bank.
Get Interest Payments:
Based upon your selection of payment frequency (monthly or at maturity), you can receive your earnings accordingly.
Maturity Notification:
You will be notified Once your FD matures so you can make a decision whether to renew it or withdraw your principal in conjunction with gained pursuits.
Useful Illustration
Consider you have got SGD ten,000 that you do not need to have use of for two a long time:
You might area this volume in the UOB mounted deposit using a tenure of 24 months at a gorgeous fascination charge (e.g., 1%).
At maturity:
You should get back the first SGD 10,000 furthermore supplemental earnings based upon the agreed-upon fascination rateâwhich makes more info it a good strategy to mature savings while making sure security compared with a lot more unstable investment alternatives like stocks.
In conclusion, opting for a Singapore greenback mounted deposit at UOB permits customers in Singapore don't just security but additionally possible expansion by means of aggressive desire choices customized In line with individual needs and Choices!