uob fixed deposit rate
uob fixed deposit rate
Blog Article
A set deposit is a well-liked savings solution for people seeking to gain desire on their own money in excess of a specified period of time. UOB (United Overseas Lender) is among the top banking companies in Asia and presents many set deposit items tailored for customers in Singapore.
What exactly is a set Deposit?
Definition: A hard and fast deposit (FD) is a financial instrument where you deposit money to get a predetermined period, earning interest at a higher charge than standard financial savings accounts.
Length: The financial investment phrase can range between as brief as a single month to quite a few several years.
Critical Attributes of UOB's Singapore Dollar Set Deposit
Competitive Interest Charges
UOB gives beautiful fascination premiums that can vary depending on the tenure and volume deposited.
Flexible Tenure Alternatives
Consumers can select tenures starting from 1 month nearly sixty months, allowing them to align their investments with personal economical ambitions.
Minimal Deposit Amount of money
The least quantity necessary to open up an FD account could vary; generally, it starts about SGD 1,000.
Desire Payment Alternatives
Curiosity is often credited regular or on maturity, based on consumer preferences.
Early Withdrawal Penalties
Withdrawing funds just before maturity may possibly incur penalties or lessened interest prices; As a result, it is vital to consider liquidity needs before investing.
Protection and Stability
Deposits are insured beneath the Singapore federal government's scheme for nearly SGD 75,000 for each depositor for every financial institution.
Rewards of selecting UOB
Track record & Belief: As among Asiaâs top banks, UOB has set up itself as trusted and trustworthy.
On the net Administration: Consumers can handle their set deposits effortlessly via on-line banking platforms without needing Actual physical visits to branches.
Marketing Features: Occasionally, UOB presents advertising prices that offer better yet returns for the duration of certain durations or events.
How It really works
Open up an Account:
Pay a visit to any UOB branch or use on line banking products and services.
Select Your Deposit Sum and Tenure:
Decide exactly how much you should commit and choose your desired period.
Fund Your Deposit:
Transfer funds get more info into your new FD account employing cash or other payment approaches offered by the bank.
Obtain Fascination Payments:
Based on your alternative of payment frequency (monthly or at maturity), you may obtain your earnings accordingly.
Maturity Notification:
You'll be notified when your FD matures so you can choose whether to resume it or withdraw your principal together with earned passions.
Functional Instance
Picture you've SGD ten,000 that you don't will need entry to for two years:
You could position this amount of money in a UOB fastened deposit by using a tenure of 24 months at a beautiful desire fee (e.g., one%).
At maturity:
You'd obtain back again the initial SGD ten,000 plus added earnings according to the agreed-upon curiosity chargeâwhich makes it a good technique to expand discounts while making certain security compared with a lot more unstable financial commitment alternatives like shares.
In summary, choosing a Singapore greenback preset deposit at UOB permits buyers in Singapore not simply stability but will also probable advancement by competitive desire choices customized according to particular person demands and preferences!