uob fixed deposit rate
uob fixed deposit rate
Blog Article
A set deposit is a well-liked discounts selection for people trying to gain interest on their cash around a specified time period. UOB (United Overseas Lender) is amongst the primary banks in Asia and gives several preset deposit goods tailor-made for purchasers in Singapore.
What on earth is a hard and fast Deposit?
Definition: A hard and fast deposit (FD) is a economic instrument where you deposit cash for any predetermined period of time, earning fascination at an increased level than frequent savings accounts.
Duration: The expense phrase can range from as brief as a single month to a number of a long time.
Crucial Functions of UOB's Singapore Dollar Fixed Deposit
Competitive Desire Premiums
UOB presents beautiful fascination costs that could vary depending on the tenure and sum deposited.
Flexible Tenure Options
Customers can pick out tenures starting from 1 month nearly sixty months, enabling them to align their investments with individual financial plans.
Least Deposit Volume
The minimal amount of money necessary to open an FD account may perhaps range; normally, it starts all over SGD 1,000.
Desire Payment Selections
Curiosity is usually credited regular or upon maturity, based upon client Tastes.
Early Withdrawal Penalties
Withdrawing cash before maturity may well incur penalties or lowered desire charges; So, it is important to consider liquidity demands before investing.
Basic safety and Security
Deposits are insured beneath the Singapore governing administration's scheme for as many as SGD seventy five,000 for each depositor for every bank.
Positive aspects of selecting UOB
Track record & Rely on: As certainly one of Asiaâs foremost banking companies, UOB has set up by itself as responsible and reputable.
On the net Administration: Clients can deal with their preset deposits effortlessly by way of on the net banking platforms without needing physical visits to branches.
Promotional Delivers: Often, UOB provides promotional premiums which provide even better returns throughout certain intervals or functions.
How It really works
Open up an Account:
Take a look at any UOB department or use on line banking services.
Choose Your Deposit Quantity and Tenure:
Choose the amount of you should spend and choose your most well-liked length.
Fund Your get more info Deposit:
Transfer cash into your new FD account employing funds or other payment approaches provided by the financial institution.
Receive Interest Payments:
Depending on your choice of payment frequency (monthly or at maturity), you can expect to acquire your earnings appropriately.
Maturity Notification:
You'll be notified when your FD matures to help you make your mind up no matter if to renew it or withdraw your principal in addition to earned pursuits.
Functional Instance
Imagine you have got SGD ten,000 that you do not have to have use of for two decades:
You could possibly spot this quantity inside of a UOB mounted deposit having a tenure of 24 months at a sexy fascination price (e.g., one%).
At maturity:
You'd probably acquire back again the first SGD 10,000 plus added earnings according to the agreed-on interest amountâmaking it a powerful approach to mature cost savings while making certain protection in contrast with additional volatile financial commitment choices like stocks.
In summary, opting for a Singapore dollar fastened deposit at UOB enables shoppers in Singapore not only safety and also possible progress as a result of competitive curiosity choices personalized Based on specific requires and Tastes!