uob fixed deposit rate
uob fixed deposit rate
Blog Article
A fixed deposit is a well-liked financial savings solution for individuals planning to generate desire on their cash more than a specified interval. UOB (United Overseas Bank) is amongst the foremost financial institutions in Asia and delivers many mounted deposit items customized for purchasers in Singapore.
What on earth is a set Deposit?
Definition: A hard and fast deposit (FD) is a financial instrument in which you deposit money for any predetermined time period, earning curiosity at an increased level than frequent financial savings accounts.
Duration: The expense expression can vary from as limited as one particular thirty day period to various decades.
Key Characteristics of UOB's Singapore Greenback Mounted Deposit
Aggressive Desire Prices
UOB delivers interesting fascination prices that could vary according to the tenure and total deposited.
Versatile Tenure Solutions
Prospects can decide on tenures starting from 1 month approximately sixty months, enabling them to align their investments with personal economic plans.
Minimum Deposit Sum
The bare minimum quantity required to open an FD account may possibly change; normally, it starts off all over SGD one,000.
Fascination Payment Solutions
Fascination might be credited month-to-month or on maturity, based upon consumer Choices.
Early Withdrawal Penalties
Withdrawing resources just before maturity could incur penalties or lowered curiosity premiums; Therefore, it is important to take into account liquidity wants prior to investing.
Protection and Security
Deposits are insured under the Singapore governing administration's plan for as much as SGD 75,000 for each depositor for each lender.
Advantages of selecting UOB
Track record & Trust: As considered one of Asiaâs top banking institutions, UOB has proven by itself as reliable and reliable.
On-line Management: Clients can deal with their fastened deposits very easily as a result of on-line banking platforms while not having Bodily visits to branches.
Advertising Presents: Occasionally, UOB gives advertising costs which offer better yet returns all through unique intervals or activities.
How It Works
Open up an Account:
Go to any UOB department or use on the net banking products and services.
Pick out Your Deposit Sum and Tenure:
Determine the amount of you would like to make investments click here and select your preferred length.
Fund Your Deposit:
Transfer funds into your new FD account applying dollars or other payment strategies offered by the financial institution.
Acquire Curiosity Payments:
Depending on your alternative of payment frequency (regular monthly or at maturity), you'll obtain your earnings appropriately.
Maturity Notification:
You will be notified Once your FD matures so that you can make your mind up no matter if to resume it or withdraw your principal together with attained passions.
Realistic Case in point
Imagine you've got SGD 10,000 that you do not want access to for 2 decades:
You could position this total in a UOB set deposit that has a tenure of 24 months at an attractive interest level (e.g., 1%).
At maturity:
You'll receive again the original SGD ten,000 as well as added earnings according to the agreed-upon desire amountârendering it a highly effective method to develop savings whilst making certain protection in contrast with additional risky expenditure solutions like shares.
In conclusion, choosing a Singapore greenback fixed deposit at UOB makes it possible for customers in Singapore not just safety and also prospective expansion through aggressive desire offerings tailor-made Based on person needs and Choices!