uob fixed deposit rate
uob fixed deposit rate
Blog Article
A fixed deposit is a well-liked discounts possibility for people planning to receive interest on their money around a specified period. UOB (United Overseas Financial institution) is one of the leading banks in Asia and offers different set deposit merchandise personalized for customers in Singapore.
What's a hard and fast Deposit?
Definition: A set deposit (FD) is actually a economic instrument where you deposit revenue for just a predetermined interval, earning fascination at the next fee than common financial savings accounts.
Duration: The investment phrase can range between as quick as a person thirty day period to quite a few years.
Important Functions of UOB's Singapore Dollar Fastened Deposit
Competitive Curiosity Charges
UOB features attractive interest charges that may vary according to the tenure and amount deposited.
Versatile Tenure Selections
Consumers can choose tenures starting from 1 month as much as sixty months, permitting them to align their investments with personal fiscal goals.
Bare minimum Deposit Amount of money
The bare minimum sum needed to open an FD account may well differ; commonly, it starts all around SGD one,000.
Interest Payment Selections
Interest can be credited regular or on maturity, depending on buyer Choices.
Early Withdrawal Penalties
Withdrawing funds before maturity might incur penalties or diminished fascination rates; As a result, it's important to think about liquidity needs before investing.
Protection and Safety
Deposits are insured underneath the Singapore govt's plan for approximately SGD seventy five,000 for every depositor per bank.
Gains of Choosing UOB
Track record & Trust: As amongst Asiaâs primary financial institutions, UOB has set up alone as reputable and reliable.
Online Administration: Buyers can take care of their mounted deposits easily by way of on-line banking platforms without having Bodily visits to branches.
Promotional Features: Occasionally, UOB delivers advertising premiums which provide even better returns during precise durations or situations.
How It Works
Open up an Account:
Stop by any UOB department or use on the net banking products and services.
Pick out Your Deposit Amount of money and Tenure:
Decide how much you should invest and select your favored period.
Fund Your Deposit:
Transfer funds into check here your new FD account applying hard cash or other payment techniques provided by the financial institution.
Acquire Curiosity Payments:
According to your choice of payment frequency (regular or at maturity), you may acquire your earnings accordingly.
Maturity Notification:
You'll be notified Whenever your FD matures to help you choose irrespective of whether to renew it or withdraw your principal as well as acquired pursuits.
Practical Instance
Think about you have got SGD ten,000 that you do not require entry to for two several years:
You could potentially place this quantity within a UOB fastened deposit that has a tenure of 24 months at an attractive interest rate (e.g., 1%).
At maturity:
You would receive again the first SGD ten,000 as well as supplemental earnings dependant on the agreed-on fascination feeâwhich makes it a good technique to improve discounts when guaranteeing basic safety in comparison with a lot more volatile financial commitment solutions like shares.
In conclusion, opting for a Singapore greenback mounted deposit at UOB permits consumers in Singapore not just security but will also probable progress via aggressive curiosity choices customized In line with personal needs and Choices!