uob fixed deposit rate
uob fixed deposit rate
Blog Article
A fixed deposit is a well-liked financial savings option for people wanting to receive interest on their own money over a specified period of time. UOB (United Overseas Lender) has become the foremost banking institutions in Asia and provides various fastened deposit items personalized for customers in Singapore.
What's a set Deposit?
Definition: A hard and fast deposit (FD) is really a economical instrument where you deposit dollars for a predetermined time period, earning fascination at the next price than standard savings accounts.
Duration: The expenditure time period can range between as short as a single month to numerous a long time.
Essential Options of UOB's Singapore Greenback Mounted Deposit
Competitive Desire Fees
UOB features attractive desire costs that may vary depending on the tenure and quantity deposited.
Adaptable Tenure Selections
Consumers can select tenures starting from one month as much as sixty months, permitting them to align their investments with own fiscal objectives.
Minimum amount Deposit Quantity
The least quantity necessary to open up an FD account may fluctuate; commonly, it starts close to SGD 1,000.
Interest Payment Possibilities
Fascination is usually credited month to month or upon maturity, dependant upon purchaser Tastes.
Early Withdrawal Penalties
Withdrawing cash right before maturity may incur penalties or lowered fascination fees; thus, it's important to take into consideration liquidity requires prior to investing.
Safety and Stability
Deposits are insured beneath the Singapore federal government's scheme for as much as SGD seventy five,000 for every depositor for each bank.
Advantages of selecting UOB
Name & Rely on: As among Asiaâs main financial institutions, UOB has established alone as responsible and honest.
On the internet Administration: Consumers can manage their mounted deposits effortlessly by on-line banking platforms while not having Actual physical visits to branches.
Promotional Provides: Often, UOB provides promotional prices offering better yet returns during particular durations or occasions.
How It really works
Open up an Account:
Take a look at any UOB branch or use on the internet banking companies.
Opt for Your Deposit Total and Tenure:
Come to a decision the amount you should commit and choose your chosen duration.
Fund Your Deposit:
Transfer resources into your new FD account employing income or other payment methods supplied by the bank.
Get Desire click here Payments:
Dependant upon your option of payment frequency (every month or at maturity), you are going to get your earnings appropriately.
Maturity Notification:
You will be notified Once your FD matures so that you can come to a decision regardless of whether to renew it or withdraw your principal in conjunction with gained pursuits.
Practical Instance
Think about you have got SGD ten,000 that you do not need to have use of for two a long time:
You might position this total in a very UOB mounted deposit having a tenure of 24 months at a lovely interest rate (e.g., one%).
At maturity:
You'd probably get back the initial SGD ten,000 as well as added earnings depending on the agreed-on interest amountâmaking it a successful strategy to grow discounts whilst guaranteeing protection in contrast with extra volatile expenditure options like stocks.
In conclusion, opting for a Singapore dollar set deposit at UOB makes it possible for prospects in Singapore not only security but additionally prospective progress by way of competitive interest choices customized In line with particular person desires and Choices!