uob fixed deposit rate
uob fixed deposit rate
Blog Article
A set deposit is a popular savings solution for individuals aiming to generate desire on their resources above a specified period. UOB (United Abroad Lender) is probably the leading banks in Asia and presents different preset deposit goods tailor-made for customers in Singapore.
What is a hard and fast Deposit?
Definition: A hard and fast deposit (FD) is a economic instrument where you deposit revenue for a predetermined period, earning interest at a greater charge than common financial savings accounts.
Length: The investment term can range from as quick as one particular month to several many years.
Key Attributes of UOB's Singapore Dollar Fixed Deposit
Aggressive Fascination Costs
UOB delivers beautiful fascination costs that may vary depending on the tenure and sum deposited.
Flexible Tenure Options
Buyers can choose tenures ranging from 1 month approximately sixty months, letting them to align their investments with particular economic goals.
Least Deposit Quantity
The least amount of money required to open an FD account may well vary; commonly, it starts off about SGD 1,000.
Curiosity Payment Solutions
Interest might be credited every month or on maturity, based on consumer preferences.
Early Withdrawal Penalties
Withdrawing resources before maturity could incur penalties or lowered interest fees; Consequently, it is important to consider liquidity wants just before investing.
Safety and Security
Deposits are insured beneath the Singapore govt's scheme for around SGD 75,000 for every depositor for each lender.
Added benefits of Choosing UOB
Reputation & Have confidence in: As one of Asiaâs leading financial institutions, UOB has established by itself as reliable and honest.
On the internet Administration: Customers can take care of their fixed deposits simply by online banking platforms with no need Bodily visits to branches.
Marketing Gives: Sometimes, UOB provides advertising charges that supply better yet returns all through particular periods or occasions.
How It Works
Open up an Account:
Stop by any UOB department or use on the web banking expert services.
Pick out Your Deposit Amount of money and Tenure:
Determine the amount of you need to commit and select your chosen duration.
Fund Your Deposit:
Transfer here resources into your new FD account applying dollars or other payment approaches offered by the bank.
Acquire Fascination Payments:
According to your option of payment frequency (month-to-month or at maturity), you'll acquire your earnings accordingly.
Maturity Notification:
You will be notified when your FD matures to help you make a decision no matter if to resume it or withdraw your principal along with attained passions.
Practical Illustration
Imagine you have SGD ten,000 that you don't require use of for 2 several years:
You could possibly place this sum inside of a UOB set deposit having a tenure of 24 months at a lovely fascination price (e.g., one%).
At maturity:
You would probably receive back again the original SGD 10,000 moreover more earnings dependant on the agreed-on curiosity levelâwhich makes it an effective technique to expand savings when ensuring basic safety compared with far more risky investment decision solutions like shares.
In summary, deciding on a Singapore greenback fastened deposit at UOB permits prospects in Singapore not just stability and also potential growth via competitive interest choices customized As outlined by particular person requires and Choices!