uob fixed deposit rate
uob fixed deposit rate
Blog Article
A set deposit is a well-liked cost savings selection for people aiming to gain interest on their money more than a specified interval. UOB (United Abroad Bank) is amongst the main financial institutions in Asia and delivers various mounted deposit products tailor-made for purchasers in Singapore.
What on earth is a set Deposit?
Definition: A set deposit (FD) is a monetary instrument in which you deposit revenue for a predetermined period, earning interest at an increased fee than normal cost savings accounts.
Period: The investment decision term can range between as quick as a single thirty day period to various several years.
Critical Characteristics of UOB's Singapore Dollar Preset Deposit
Competitive Desire Premiums
UOB presents desirable desire prices that can differ determined by the tenure and sum deposited.
Adaptable Tenure Alternatives
Customers can decide on tenures starting from one thirty day period nearly 60 months, letting them to align their investments with individual fiscal aims.
Least Deposit Amount of money
The minimal total needed to open an FD account may possibly differ; generally, it starts off close to SGD 1,000.
Interest Payment Possibilities
Fascination can be credited regular monthly or upon maturity, determined by customer Tastes.
Early Withdrawal Penalties
Withdrawing resources before maturity might incur penalties or diminished curiosity charges; Consequently, it is important to take into consideration liquidity requires in advance of investing.
Safety and Protection
Deposits are insured under the Singapore governing administration's scheme for as much as SGD seventy five,000 per depositor per lender.
Rewards of selecting UOB
Popularity & Believe in: As amongst Asiaâs primary banks, UOB has proven by itself as trusted and reputable.
Online Management: Buyers can handle their fastened deposits conveniently by means of on the net banking platforms without having Actual physical visits to branches.
Marketing Features: Sometimes, UOB gives promotional rates that provide a lot better returns during specific durations or gatherings.
How It Works
Open up an Account:
Check out any UOB branch or use online banking products and services.
Decide on Your Deposit Amount and Tenure:
Decide how much you ought to commit and choose your desired length.
Fund Your Deposit:
Transfer cash into your new FD account utilizing hard cash or other payment methods made available from the lender.
Receive Curiosity Payments:
Depending on your selection of payment frequency (every month or at maturity), you can acquire your earnings appropriately.
Maturity Notification:
You'll be notified when your FD matures so you're able to come to a decision irrespective of whether to resume it or withdraw your principal as well as attained pursuits.
Functional Example
Imagine you have got SGD 10,000 that you don't want use of for 2 several years:
You might location this amount in a very UOB set deposit with a tenure of 24 months at a gorgeous desire charge (e.g., 1%).
At maturity:
You should receive back the original SGD 10,000 additionally supplemental earnings depending on the agreed-upon curiosity feeârendering it a powerful way to expand discounts though making sure protection as opposed with extra risky financial investment options like shares.
In conclusion, picking a Singapore greenback set read more deposit at UOB makes it possible for buyers in Singapore not merely security and also likely development by means of aggressive curiosity choices personalized As outlined by specific requirements and Choices!