uob fixed deposit rate
uob fixed deposit rate
Blog Article
A set deposit is a popular personal savings selection for people aiming to make curiosity on their money in excess of a specified interval. UOB (United Abroad Lender) is amongst the major banks in Asia and provides numerous fixed deposit products tailored for customers in Singapore.
What's a Fixed Deposit?
Definition: A hard and fast deposit (FD) can be a economical instrument in which you deposit money for any predetermined time period, earning fascination at a better amount than regular financial savings accounts.
Length: The investment decision phrase can range between as shorter as 1 month to many decades.
Vital Options of UOB's Singapore Greenback Fixed Deposit
Aggressive Interest Rates
UOB provides eye-catching desire rates that will vary according to the tenure and sum deposited.
Flexible Tenure Choices
Customers can choose tenures ranging from one month nearly sixty months, letting them to align their investments with own financial targets.
Least Deposit Total
The bare minimum quantity required to open up an FD account may range; ordinarily, it starts all-around SGD 1,000.
Interest Payment Options
Interest may be credited every month or on maturity, based on customer Choices.
Early Withdrawal Penalties
Withdrawing funds ahead of maturity may well incur penalties or diminished fascination charges; So, it's important to take into account liquidity needs just before investing.
Basic safety and Protection
Deposits are insured beneath the Singapore govt's plan for as many as SGD seventy five,000 for each depositor for each bank.
Rewards of Choosing UOB
Popularity & Have faith in: As considered one of Asiaâs primary financial institutions, UOB has proven itself as responsible and trusted.
On line Management: Clients can control their mounted deposits effortlessly through on the web banking platforms without needing physical visits to branches.
Advertising Offers: Once in a while, UOB offers advertising fees offering a lot better returns in the course of unique periods or activities.
How It Works
Open an Account:
Check out any UOB branch or use on the net banking products and services.
Select Your Deposit Sum and Tenure:
Make a decision exactly how much you want to invest and choose your chosen duration.
Fund Your Deposit:
Transfer resources into your new FD account working with dollars or other payment procedures provided by the lender.
Acquire Curiosity Payments:
According to your choice of payment frequency (every month or at maturity), you can expect to obtain your earnings appropriately.
Maturity Notification:
You'll be notified Whenever your FD matures so you can make your mind up no matter whether to resume it or withdraw your principal in addition to acquired pursuits.
Useful Illustration
Imagine you may have SGD ten,000 that you don't have to have usage of for 2 years:
You can spot this volume in a very UOB preset deposit with a tenure of 24 months at a beautiful desire level (e.g., one%).
At maturity:
You'll obtain back the first SGD 10,000 plus additional earnings based on website the agreed-on interest rateâwhich makes it a good approach to grow price savings although making sure security compared with far more risky expenditure options like stocks.
In conclusion, deciding on a Singapore greenback preset deposit at UOB enables buyers in Singapore don't just security but additionally prospective expansion by aggressive fascination offerings tailor-made In line with specific wants and Tastes!