uob fixed deposit rate
uob fixed deposit rate
Blog Article
A fixed deposit is a well-liked price savings option for individuals seeking to get paid curiosity on their own funds about a specified period. UOB (United Overseas Financial institution) is probably the main banking institutions in Asia and offers a variety of set deposit merchandise personalized for patrons in Singapore.
What's a Fixed Deposit?
Definition: A fixed deposit (FD) is really a economic instrument where you deposit funds for the predetermined period of time, earning fascination at a better fee than standard discounts accounts.
Duration: The investment decision term can range between as small as a person month to a number of years.
Vital Options of UOB's Singapore Dollar Preset Deposit
Competitive Desire Charges
UOB offers interesting curiosity prices that will vary based upon the tenure and volume deposited.
Versatile Tenure Solutions
Customers can pick out tenures ranging from 1 thirty day period approximately sixty months, allowing them to align their investments with personalized financial aims.
Minimum Deposit Quantity
The bare minimum amount of money needed to open an FD account could fluctuate; generally, it begins close to SGD 1,000.
Interest Payment Solutions
Fascination is often credited every month or on maturity, according to client Tastes.
Early Withdrawal Penalties
Withdrawing money prior to maturity may perhaps incur penalties or diminished interest costs; Therefore, it is vital to take into consideration liquidity wants right before investing.
Safety and Safety
Deposits are insured beneath the Singapore governing administration's plan for around SGD seventy five,000 for every depositor per financial institution.
Gains of selecting click here UOB
Reputation & Have confidence in: As considered one of Asiaâs top banking institutions, UOB has recognized by itself as trusted and honest.
Online Administration: Prospects can manage their preset deposits effortlessly by way of on the web banking platforms without needing Bodily visits to branches.
Marketing Delivers: At times, UOB provides advertising fees which offer better still returns for the duration of specific periods or activities.
How It Works
Open up an Account:
Check out any UOB department or use online banking expert services.
Select Your Deposit Sum and Tenure:
Choose just how much you need to invest and select your desired period.
Fund Your Deposit:
Transfer resources into your new FD account employing cash or other payment approaches made available from the lender.
Receive Interest Payments:
Based on your decision of payment frequency (regular monthly or at maturity), you can acquire your earnings appropriately.
Maturity Notification:
You'll be notified Once your FD matures so you're able to decide irrespective of whether to renew it or withdraw your principal as well as acquired interests.
Realistic Illustration
Picture you have SGD 10,000 that you don't want usage of for two yrs:
You can place this volume in the UOB preset deposit by using a tenure of 24 months at an attractive interest fee (e.g., one%).
At maturity:
You should receive back the original SGD ten,000 furthermore further earnings based upon the agreed-on curiosity priceâwhich makes it a powerful technique to improve price savings though guaranteeing safety compared with extra unstable expense options like stocks.
In summary, opting for a Singapore dollar preset deposit at UOB makes it possible for consumers in Singapore don't just safety but will also prospective advancement by means of aggressive curiosity offerings customized according to person requirements and Choices!