uob fixed deposit rate
uob fixed deposit rate
Blog Article
A fixed deposit is a well-liked cost savings selection for individuals wanting to gain fascination on their own resources around a specified interval. UOB (United Abroad Lender) is amongst the foremost banking companies in Asia and gives many preset deposit products tailor-made for customers in Singapore.
What on earth is a Fixed Deposit?
Definition: A hard and fast deposit (FD) is actually a monetary instrument in which you deposit income for any predetermined time period, earning fascination at a greater amount than typical discounts accounts.
Length: The expense term can vary from as brief as one particular thirty day period to various yrs.
Important Options of UOB's Singapore Dollar Fixed Deposit
Competitive Curiosity Premiums
UOB gives appealing desire costs that may vary based on the tenure and sum deposited.
Versatile Tenure Options
Consumers can decide on tenures starting from 1 thirty day period as many as 60 months, enabling them to align their investments with personalized financial targets.
Least Deposit Quantity
The least amount of money needed to open an FD account may well fluctuate; normally, it starts about SGD one,000.
Desire Payment Choices
Fascination is often credited every month or on maturity, depending on consumer preferences.
Early Withdrawal Penalties
Withdrawing funds before maturity might incur penalties or decreased interest rates; thus, it's important to contemplate liquidity wants just before investing.
Security and Security
Deposits are insured under the Singapore governing administration's plan for approximately SGD 75,000 per depositor for every financial institution.
Rewards of Choosing UOB
Reputation & Trust: As one of Asiaâs leading banking companies, UOB get more info has founded by itself as reputable and honest.
On the web Management: Consumers can control their mounted deposits very easily by means of on-line banking platforms with no need physical visits to branches.
Promotional Provides: From time to time, UOB gives marketing premiums which offer better yet returns in the course of specific durations or activities.
How It Works
Open up an Account:
Pay a visit to any UOB branch or use on line banking companies.
Pick Your Deposit Amount of money and Tenure:
Come to a decision the amount of you need to invest and select your favored length.
Fund Your Deposit:
Transfer money into your new FD account using dollars or other payment techniques supplied by the lender.
Obtain Desire Payments:
According to your preference of payment frequency (month to month or at maturity), you can expect to obtain your earnings appropriately.
Maturity Notification:
You will be notified Once your FD matures so you can make a decision whether to renew it or withdraw your principal as well as gained pursuits.
Sensible Case in point
Picture you may have SGD ten,000 that you do not will need access to for 2 a long time:
You could potentially place this sum inside a UOB fastened deposit having a tenure of 24 months at a beautiful fascination level (e.g., one%).
At maturity:
You'd get back again the initial SGD 10,000 plus added earnings dependant on the agreed-on fascination priceârendering it a successful way to mature discounts though making certain protection in comparison with much more unstable expense options like stocks.
In conclusion, deciding on a Singapore greenback fixed deposit at UOB permits customers in Singapore not merely stability but will also likely progress via competitive curiosity offerings customized Based on specific requires and preferences!