uob fixed deposit rate
uob fixed deposit rate
Blog Article
A fixed deposit is a popular price savings alternative for individuals wanting to make curiosity on their funds above a specified time period. UOB (United Abroad Financial institution) is among the top banking institutions in Asia and delivers several mounted deposit solutions customized for purchasers in Singapore.
What exactly is a Fixed Deposit?
Definition: A hard and fast deposit (FD) is actually a money instrument where you deposit funds for any predetermined period of time, earning fascination at a higher rate than normal price savings accounts.
Duration: The investment time period can range from as small as 1 month to several several years.
Key Functions of UOB's Singapore Greenback Fixed Deposit
Competitive Curiosity Premiums
UOB offers eye-catching desire fees that can vary depending on the tenure and amount deposited.
Flexible Tenure Choices
Customers can decide on tenures starting from 1 month approximately sixty months, enabling them to align their investments with private economical ambitions.
Bare minimum Deposit Amount
The least quantity necessary to open up an FD account may possibly vary; normally, it commences about SGD 1,000.
Fascination Payment Choices
Fascination is usually credited month-to-month or on maturity, based upon purchaser Tastes.
Early Withdrawal Penalties
Withdrawing cash prior to maturity may well incur penalties or lessened desire rates; So, it is vital to consider liquidity needs before investing.
Safety and Protection
Deposits are insured underneath the Singapore authorities's scheme for nearly SGD 75,000 for each depositor for each lender.
Added benefits of Choosing UOB
Standing & Belief: As considered one of Asiaâs foremost banks, UOB has founded itself as responsible and honest.
On the web Administration: Customers can handle their fastened deposits conveniently via on the web banking platforms without having Actual physical visits to branches.
Promotional Gives: Once in a while, UOB delivers advertising costs which offer better yet returns for the duration of distinct periods or situations.
How It Works
Open up an Account:
Stop by any UOB department or use on the net banking providers.
Select Your Deposit Amount and Tenure:
Determine how much you ought to commit and choose your desired length.
Fund Your Deposit:
Transfer resources into your click here new FD account making use of hard cash or other payment techniques supplied by the lender.
Acquire Curiosity Payments:
Based upon your option of payment frequency (regular monthly or at maturity), you'll obtain your earnings accordingly.
Maturity Notification:
You will be notified Whenever your FD matures so that you can make a decision irrespective of whether to renew it or withdraw your principal in conjunction with acquired interests.
Practical Case in point
Consider you have got SGD 10,000 that you don't need to have access to for 2 a long time:
You can place this total in the UOB fixed deposit that has a tenure of 24 months at a gorgeous desire amount (e.g., one%).
At maturity:
You'll acquire back the initial SGD 10,000 moreover further earnings based on the agreed-upon curiosity feeâwhich makes it an effective strategy to improve personal savings when making sure basic safety as opposed with more risky investment choices like shares.
In conclusion, opting for a Singapore greenback set deposit at UOB makes it possible for shoppers in Singapore don't just protection but in addition prospective progress by means of aggressive interest choices tailored according to particular person wants and Tastes!