uob fixed deposit rate
uob fixed deposit rate
Blog Article
A hard and fast deposit is a popular cost savings choice for people seeking to earn interest on their money more than a specified interval. UOB (United Overseas Bank) is probably the major financial institutions in Asia and delivers different set deposit goods personalized for purchasers in Singapore.
What's a hard and fast Deposit?
Definition: A set deposit (FD) is really a economical instrument where you deposit revenue for the predetermined period, earning desire at a greater rate than standard financial savings accounts.
Period: The investment decision time period can range from as quick as one month to many years.
Essential Options of UOB's Singapore Dollar Set Deposit
Competitive Curiosity Premiums
UOB offers eye-catching fascination costs that could vary determined by the tenure and sum deposited.
Flexible Tenure Options
Prospects can opt for tenures ranging from one month around sixty months, letting them to align their investments with personalized monetary plans.
Least Deposit Sum
The minimum total required to open an FD account may well vary; typically, it begins all over SGD 1,000.
Curiosity Payment Options
Curiosity is often credited month-to-month or upon maturity, based upon buyer Tastes.
Early Withdrawal Penalties
Withdrawing resources ahead of maturity may well incur penalties or lowered desire charges; So, it is vital to take into account liquidity demands in advance of investing.
Basic safety and Security
Deposits are insured underneath the Singapore government's plan for as many as SGD seventy five,000 per depositor for every financial institution.
Rewards of selecting UOB
Name & Rely on: As one among Asiaâs foremost banking companies, UOB has established by itself as trusted and dependable.
On line Management: Shoppers can manage their set deposits quickly via on the internet here banking platforms while not having Bodily visits to branches.
Advertising Presents: Sometimes, UOB offers promotional prices offering better still returns all through unique durations or gatherings.
How It Works
Open up an Account:
Stop by any UOB branch or use on-line banking services.
Pick out Your Deposit Amount of money and Tenure:
Make your mind up how much you want to devote and select your preferred length.
Fund Your Deposit:
Transfer funds into your new FD account applying income or other payment techniques made available from the bank.
Get Desire Payments:
Dependant upon your option of payment frequency (every month or at maturity), you are going to get your earnings appropriately.
Maturity Notification:
You will be notified Once your FD matures so that you can make your mind up no matter whether to resume it or withdraw your principal coupled with earned interests.
Sensible Illustration
Visualize you have SGD 10,000 that you don't have to have usage of for 2 yrs:
You could put this total in the UOB set deposit having a tenure of 24 months at an attractive fascination charge (e.g., one%).
At maturity:
You would probably get back again the first SGD 10,000 as well as further earnings based on the agreed-upon fascination priceârendering it a good method to improve financial savings while making certain basic safety compared with much more unstable financial investment choices like stocks.
In conclusion, choosing a Singapore dollar mounted deposit at UOB will allow customers in Singapore not just safety but in addition probable advancement via aggressive desire choices tailor-made As outlined by particular person requires and Choices!