uob fixed deposit rate
uob fixed deposit rate
Blog Article
A hard and fast deposit is a well-liked price savings possibility for individuals seeking to get paid curiosity on their own money around a specified time period. UOB (United Abroad Bank) is one of the foremost banks in Asia and delivers various mounted deposit products tailor-made for purchasers in Singapore.
What is a set Deposit?
Definition: A set deposit (FD) is a economic instrument in which you deposit money for any predetermined period of time, earning desire at a greater fee than frequent financial savings accounts.
Length: The financial commitment term can range from as quick as just one thirty day period to several many years.
Crucial Capabilities of UOB's Singapore Greenback Preset Deposit
Aggressive Desire Rates
UOB provides desirable curiosity costs that can differ based upon the tenure and amount of money deposited.
Adaptable Tenure Solutions
Customers can choose tenures ranging from one thirty day period as many as sixty months, letting them to align their investments with particular money aims.
Least Deposit Volume
The minimal total necessary to open an FD account might vary; typically, it starts off all over SGD 1,000.
Interest Payment Options
Desire is often credited regular monthly or upon maturity, depending on shopper Choices.
Early Withdrawal Penalties
Withdrawing money before maturity may perhaps incur penalties or minimized curiosity rates; So, it is important to think about liquidity requires in advance of investing.
Security and Stability
Deposits are insured beneath the Singapore government's plan for up to SGD seventy five,000 per depositor for each bank.
Added benefits of Choosing UOB
Name & Believe in: As amongst Asiaâs foremost banks, UOB has proven alone as trustworthy and trusted.
On the internet Administration: Clients can take care of their fixed deposits simply through on the web banking platforms without having physical visits to branches.
Advertising Presents: Sometimes, UOB supplies marketing rates offering a lot better returns throughout distinct durations or situations.
How It Works
Open an Account:
Pay a visit to any UOB department or use on the net banking solutions.
Pick Your Deposit Volume and Tenure:
Make your mind up just how much you need to spend and choose your most well-liked period.
Fund Your Deposit:
Transfer resources into your new FD account using cash or other payment techniques provided by the bank.
Receive Curiosity Payments:
According to your selection of payment frequency (regular monthly or at maturity), you may obtain your earnings accordingly.
Maturity Notification:
You'll be notified when your FD matures so you can decide whether to resume it or withdraw your principal coupled with gained passions.
Useful Instance
Envision you get more info have SGD ten,000 that you do not want access to for 2 several years:
You might spot this quantity in a UOB fastened deposit by using a tenure of 24 months at a lovely interest amount (e.g., 1%).
At maturity:
You would acquire back again the first SGD ten,000 additionally extra earnings dependant on the agreed-upon desire feeâmaking it a powerful approach to grow discounts whilst making sure security as opposed with a lot more risky investment decision solutions like stocks.
In summary, picking a Singapore dollar fastened deposit at UOB enables shoppers in Singapore not just protection but also likely advancement by means of aggressive desire offerings tailor-made In keeping with person desires and Tastes!