uob fixed deposit rate
uob fixed deposit rate
Blog Article
A fixed deposit is a well-liked discounts solution for people trying to gain interest on their own resources above a specified period of time. UOB (United Overseas Financial institution) is probably the leading financial institutions in Asia and gives various mounted deposit products tailored for customers in Singapore.
What is a hard and fast Deposit?
Definition: A set deposit (FD) can be a monetary instrument in which you deposit money for a predetermined period, earning fascination at a higher price than regular financial savings accounts.
Period: The expenditure time period can range from as limited as a person thirty day period to quite a few several years.
Key Characteristics of UOB's Singapore Dollar Mounted Deposit
Competitive Curiosity Fees
UOB provides appealing fascination rates that could vary dependant on the tenure and quantity deposited.
Adaptable Tenure Selections
Prospects can choose tenures ranging from 1 thirty day period as many as 60 months, enabling them to align their investments with particular economical plans.
Least Deposit Quantity
The minimum amount amount needed to open up an FD account may possibly range; commonly, it starts all-around SGD 1,000.
Fascination Payment Alternatives
Desire might be credited month to month or on maturity, according to customer Choices.
Early Withdrawal Penalties
Withdrawing resources just before maturity may incur penalties or diminished interest premiums; thus, it is vital to take into consideration liquidity requirements prior to investing.
Protection and Security
Deposits are insured beneath the Singapore authorities's scheme for up to SGD seventy five,000 for every depositor for each lender.
Benefits of Choosing UOB
Reputation & Have confidence in: As considered one of Asiaâs main banks, UOB has set up by itself as trustworthy and reputable.
On the web Management: Clients can take care of their preset deposits easily by way of on the web banking platforms without having physical visits to branches.
Advertising Gives: Often, UOB gives marketing costs which offer a lot better returns for the duration of unique durations or events.
How It Works
Open an Account:
Visit any UOB department or use on the web banking providers.
Opt for Your Deposit Volume and Tenure:
Come to a decision simply how much you ought to invest and choose your most popular duration.
Fund Your Deposit:
Transfer resources into your new FD account making use of dollars or other payment methods offered by the bank.
Receive Curiosity Payments:
Based on your alternative of payment frequency (regular monthly or at maturity), you will receive your earnings accordingly.
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 in conjunction with acquired passions.
Useful Instance
Envision you've got SGD 10,000 that you don't will need use of for two many years:
You can location this amount inside of a UOB fastened deposit using a tenure of 24 months at a beautiful fascination price (e.g., 1%).
At maturity:
You'd get back the first SGD 10,000 furthermore additional earnings dependant on the agreed-upon desire chargeâmaking it a powerful strategy to develop personal savings although guaranteeing security in contrast with extra unstable expense options like stocks.
In conclusion, deciding on a Singapore greenback set deposit at UOB will allow buyers in Singapore not just get more info protection but will also likely expansion through aggressive fascination offerings tailored Based on person requirements and preferences!