uob fixed deposit rate
uob fixed deposit rate
Blog Article
A set deposit is a popular discounts alternative for individuals looking to get paid fascination on their resources in excess of a specified interval. UOB (United Abroad Bank) is probably the leading financial institutions in Asia and provides many mounted deposit products and solutions tailor-made for purchasers in Singapore.
What is a set Deposit?
Definition: A hard and fast deposit (FD) is really a money instrument in which you deposit funds for your predetermined period, earning interest at a better level than normal personal savings accounts.
Period: The investment term can range from as brief as one particular thirty day period to a number of yrs.
Vital Options of UOB's Singapore Greenback Fastened Deposit
Competitive Interest Prices
UOB offers attractive interest rates that can differ based upon the tenure and amount of money deposited.
Adaptable Tenure Solutions
Shoppers can pick out tenures ranging from one thirty day period up to sixty months, enabling them to align their investments with personal economical targets.
Least Deposit Amount
The least amount of money required to open up an FD account may range; typically, it starts all over SGD one,000.
Interest Payment Solutions
Interest might be credited every month or on maturity, determined by shopper Tastes.
Early Withdrawal Penalties
Withdrawing cash ahead of maturity may possibly incur penalties or lowered fascination premiums; Consequently, it is important to take into consideration liquidity needs prior to investing.
Security and Protection
Deposits are insured under the Singapore governing administration's plan for nearly SGD seventy five,000 per depositor for every bank.
Advantages of selecting UOB
Name & Have confidence in: As among Asiaâs leading banking companies, UOB has recognized alone as trustworthy and trusted.
On the internet Administration: Buyers can deal with their fastened deposits conveniently as a result of online banking platforms while not having physical visits to branches.
Marketing Presents: Occasionally, UOB offers promotional rates that offer even better returns throughout specific durations or gatherings.
How It website Works
Open an Account:
Visit any UOB branch or use on line banking providers.
Decide on Your Deposit Volume and Tenure:
Make a decision simply how much you want to devote and select your preferred length.
Fund Your Deposit:
Transfer cash into your new FD account working with income or other payment procedures offered by the bank.
Obtain Desire Payments:
Dependant upon your option of payment frequency (regular or at maturity), you are going to get your earnings appropriately.
Maturity Notification:
You will be notified Whenever your FD matures so that you can make a decision irrespective of whether to resume it or withdraw your principal together with attained passions.
Realistic Case in point
Consider you have SGD ten,000 that you don't need to have entry to for two many years:
You can place this amount of money in a very UOB mounted deposit using a tenure of 24 months at a lovely interest amount (e.g., 1%).
At maturity:
You would get back the initial SGD ten,000 in addition extra earnings based on the agreed-on fascination feeârendering it a powerful approach to improve cost savings though ensuring basic safety as opposed with more risky expenditure possibilities like stocks.
In conclusion, opting for a Singapore dollar mounted deposit at UOB lets consumers in Singapore not simply protection but also prospective expansion by means of competitive desire choices customized Based on personal requirements and preferences!