uob fixed deposit rate
uob fixed deposit rate
Blog Article
A fixed deposit is a well-liked price savings possibility for individuals seeking to get paid curiosity on their own money over a specified period of time. UOB (United Overseas Financial institution) is amongst the leading financial institutions in Asia and provides several set deposit products and solutions tailor-made for patrons in Singapore.
What's a hard and fast Deposit?
Definition: A fixed deposit (FD) is really a money instrument where you deposit income for a predetermined time period, earning fascination at a higher charge than common financial savings accounts.
Length: The financial investment term can vary from as small as one month to numerous yrs.
Key Functions of UOB's Singapore Dollar Mounted Deposit
Aggressive Fascination Fees
UOB offers desirable curiosity costs that can differ dependant on the tenure and amount deposited.
Flexible Tenure Choices
Consumers can decide on tenures ranging from 1 month as much as 60 months, enabling them to align their investments with private fiscal ambitions.
Bare minimum Deposit Volume
The bare minimum volume necessary to open an FD account may vary; typically, it starts off all-around SGD one,000.
Curiosity Payment Alternatives
Interest can be credited every month or on maturity, dependant upon client preferences.
Early Withdrawal Penalties
Withdrawing resources in advance of maturity may possibly incur penalties or lowered interest fees; Consequently, it is important to think about liquidity requires in advance of investing.
Security and Security
Deposits are insured beneath the Singapore authorities's plan for around SGD seventy five,000 for each depositor for every financial institution.
Advantages of selecting UOB
Track record & Belief: As one among Asiaâs top banking companies, UOB has set up alone as trustworthy and trusted.
On the web Administration: Consumers can regulate their mounted deposits conveniently by on-line banking platforms while not having physical visits to branches.
Advertising Presents: Sometimes, UOB delivers marketing charges which offer even better returns in the course of unique periods or activities.
How It really works
Open up an Account:
Visit any UOB branch or use on the internet banking expert services.
Choose Your Deposit Sum and Tenure:
Come to a decision exactly how much you would like to commit and choose your most well-liked period.
Fund Your Deposit:
Transfer resources into your new FD account using money or other payment techniques offered by the bank.
Acquire Desire Payments:
Based upon your choice of payment uob fixed deposit rate frequency (monthly or at maturity), you'll acquire your earnings appropriately.
Maturity Notification:
You'll be notified when your FD matures so you can decide whether to resume it or withdraw your principal in conjunction with acquired interests.
Practical Case in point
Think about you might have SGD 10,000 that you don't need to have entry to for 2 yrs:
You might location this amount in a very UOB mounted deposit having a tenure of 24 months at an attractive fascination price (e.g., one%).
At maturity:
You'll receive back again the original SGD ten,000 furthermore supplemental earnings determined by the agreed-upon fascination priceârendering it an efficient solution to increase savings when ensuring basic safety compared with far more risky expenditure options like stocks.
In summary, opting for a Singapore dollar fastened deposit at UOB enables shoppers in Singapore not only safety but will also prospective expansion through competitive fascination choices tailored In line with unique requirements and Choices!