uob fixed deposit rate
uob fixed deposit rate
Blog Article
A fixed deposit is a well-liked financial savings option for people looking to get paid fascination on their own money more than a specified interval. UOB (United Abroad Bank) is without doubt one of the foremost banks in Asia and presents numerous fastened deposit items tailor-made for customers in Singapore.
What exactly is a Fixed Deposit?
Definition: A hard and fast deposit (FD) is often a fiscal instrument in which you deposit funds to get a predetermined interval, earning interest at an increased price than frequent personal savings accounts.
Period: The financial commitment term can range from as limited as one month to many many years.
Critical Characteristics of UOB's Singapore Greenback Fastened Deposit
Aggressive Desire Prices
UOB delivers appealing fascination fees that can differ determined by the tenure and amount deposited.
Flexible Tenure Possibilities
Buyers can pick tenures ranging from 1 thirty day period approximately 60 months, letting them to align their investments with personal money objectives.
Least Deposit Quantity
The least amount necessary to open an FD account may possibly change; generally, it starts off about SGD 1,000.
Fascination Payment Possibilities
Interest can be credited regular or upon maturity, according to customer Choices.
Early Withdrawal Penalties
Withdrawing funds just before maturity may possibly incur penalties or lowered interest prices; Consequently, it's important to look at liquidity requirements before investing.
Protection and Protection
Deposits are insured under the Singapore government's plan for as many as SGD 75,000 per depositor for each bank.
Advantages of Choosing UOB
Status & Have confidence in: As one among Asiaâs top banking institutions, UOB has proven by itself as trusted and reliable.
On line Administration: Consumers can regulate their mounted deposits effortlessly by online banking platforms with no need Bodily visits to branches.
Advertising Presents: Occasionally, UOB offers promotional prices offering better yet returns during specific durations or situations.
How It Works
Open up an Account:
Visit any UOB department or use online banking solutions.
Select Your Deposit Quantity and Tenure:
Make your mind up the amount you want to devote and choose your preferred duration.
Fund Your Deposit:
Transfer funds into your new FD account working with dollars or other payment techniques provided by the bank.
Receive Desire Payments:
Based on your selection of payment frequency (regular or at maturity), you'll acquire your earnings appropriately.
Maturity Notification:
You'll be notified Once your FD matures to help you make your mind up whether to resume it or withdraw your principal as well as earned passions.
Useful Example
Consider you've got SGD ten,000 that you don't want usage of for two years:
You can location this quantity inside a UOB fixed deposit with a tenure of 24 months at an attractive desire price (e.g., one%).
At maturity:
You would probably get back the initial SGD ten,000 as well as further earnings according to the agreed-on fascination levelâwhich makes it an effective method to grow financial savings whilst ensuring protection as opposed with far more unstable website financial commitment possibilities like stocks.
In summary, choosing a Singapore greenback preset deposit at UOB permits shoppers in Singapore not simply safety but also opportunity development through competitive desire offerings customized Based on unique wants and Tastes!