uob fixed deposit rate
uob fixed deposit rate
Blog Article
A set deposit is a well-liked financial savings possibility for individuals planning to gain curiosity on their own resources about a specified interval. UOB (United Abroad Bank) is among the main financial institutions in Asia and presents numerous fixed deposit products customized for patrons in Singapore.
What's a Fixed Deposit?
Definition: A set deposit (FD) can be a monetary instrument in which you deposit funds for any predetermined interval, earning fascination at an increased fee than common personal savings accounts.
Duration: The financial investment time period can range between as shorter as a person month to quite a few several years.
Crucial Attributes of UOB's Singapore Dollar Fastened Deposit
Aggressive Interest Prices
UOB provides eye-catching interest costs that may vary based on the tenure and volume deposited.
Adaptable Tenure Choices
Buyers can opt for tenures ranging from 1 month as many as sixty months, making it possible for them to align their investments with particular money aims.
Bare minimum Deposit Sum
The bare minimum sum required to open up an FD account might fluctuate; typically, it starts off all around SGD 1,000.
Fascination Payment Possibilities
Interest is usually credited regular or upon maturity, based on shopper preferences.
Early Withdrawal Penalties
Withdrawing resources ahead of maturity may incur penalties or lowered curiosity fees; Therefore, it's important to take into account liquidity desires before investing.
Safety and Security
Deposits are insured under the Singapore federal government's scheme for approximately SGD seventy five,000 for every depositor for each bank.
Positive aspects of Choosing UOB
Popularity & Have confidence in: As among Asiaâs primary banking institutions, UOB has established alone as dependable and reliable.
On-line Management: Prospects can regulate their preset deposits conveniently as a result of on the net banking platforms without having Bodily visits to branches.
Promotional Provides: Sometimes, UOB presents advertising rates which provide better still returns all through precise periods or gatherings.
How It Works
Open an Account:
Pay a visit to any UOB branch or use online banking expert services.
Select Your Deposit Volume and Tenure:
Decide the amount you ought to make investments and select your chosen length.
Fund Your Deposit:
Transfer click here money into your new FD account making use of funds or other payment approaches supplied by the financial institution.
Get Curiosity Payments:
Dependant upon your alternative of payment frequency (regular or at maturity), you may obtain your earnings appropriately.
Maturity Notification:
You'll be notified Once your FD matures in order to choose irrespective of whether to renew it or withdraw your principal coupled with acquired pursuits.
Sensible Illustration
Envision you might have SGD ten,000 that you don't have to have access to for two several years:
You can area this total inside of a UOB set deposit using a tenure of 24 months at a gorgeous fascination level (e.g., one%).
At maturity:
You would probably acquire again the first SGD ten,000 in addition additional earnings depending on the agreed-upon desire rateârendering it a successful solution to increase discounts even though ensuring basic safety when compared with a lot more risky expenditure alternatives like shares.
In summary, choosing a Singapore greenback preset deposit at UOB lets buyers in Singapore not only security but will also probable growth as a result of competitive curiosity choices tailored In line with unique requirements and preferences!