uob fixed deposit rate
uob fixed deposit rate
Blog Article
A set deposit is a well-liked discounts selection for people aiming to receive desire on their own resources over a specified time period. UOB (United Overseas Bank) has become the leading banking institutions in Asia and features numerous set deposit solutions personalized for customers in Singapore.
Precisely what is a set Deposit?
Definition: A set deposit (FD) can be a fiscal instrument where you deposit income for the predetermined time period, earning interest at a higher charge than standard price savings accounts.
Period: The expense phrase can vary from as quick as a single thirty day period to quite a few years.
Vital Features of UOB's Singapore Greenback Mounted Deposit
Competitive Fascination Charges
UOB provides attractive curiosity charges that can vary based on the tenure and total deposited.
Flexible Tenure Options
Prospects can opt for tenures ranging from 1 month up to 60 months, letting them to align their investments with private economical targets.
Minimum amount Deposit Quantity
The bare minimum total needed to open up an FD account could range; ordinarily, it starts off around SGD 1,000.
Interest Payment Choices
Interest may be credited regular monthly or upon maturity, according to buyer Choices.
Early Withdrawal Penalties
Withdrawing funds prior to maturity might incur penalties or lowered curiosity charges; Hence, it's important to think about liquidity needs right before investing.
Safety and Protection
Deposits are insured under the Singapore government's scheme for around SGD seventy five,000 per depositor for every bank.
Added benefits of Choosing UOB
Standing & Have faith in: As among Asiaâs leading banking institutions, UOB has founded itself as reputable and trusted.
On the internet Administration: Buyers can regulate their set deposits simply through on the internet banking platforms while not having Actual physical visits to branches.
Marketing Provides: At times, UOB delivers marketing fees click here that provide better still returns for the duration of distinct intervals or functions.
How It Works
Open up an Account:
Stop by any UOB branch or use on the internet banking providers.
Select Your Deposit Amount and Tenure:
Decide how much you ought to commit and choose your most well-liked duration.
Fund Your Deposit:
Transfer cash into your new FD account making use of cash or other payment techniques made available from the lender.
Obtain Fascination Payments:
According to your choice of payment frequency (month-to-month or at maturity), you may get your earnings accordingly.
Maturity Notification:
You'll be notified when your FD matures so you can determine no matter whether to renew it or withdraw your principal in addition to attained pursuits.
Useful Example
Consider you might have SGD ten,000 that you don't want use of for 2 many years:
You could area this quantity in a very UOB set deposit that has a tenure of 24 months at a beautiful curiosity charge (e.g., 1%).
At maturity:
You'll obtain back again the original SGD ten,000 plus further earnings dependant on the agreed-on fascination amountâwhich makes it a powerful technique to mature price savings while making sure protection when compared with far more volatile investment decision alternatives like shares.
In summary, opting for a Singapore dollar set deposit at UOB makes it possible for customers in Singapore not simply stability but will also likely development by aggressive curiosity choices customized In keeping with particular person desires and Choices!