uob fixed deposit rate
uob fixed deposit rate
Blog Article
A hard and fast deposit is a well-liked savings solution for people wanting to make interest on their funds more than a specified period. UOB (United Overseas Financial institution) is among the major financial institutions in Asia and features several set deposit products tailor-made for purchasers in Singapore.
What is a Fixed Deposit?
Definition: A fixed deposit (FD) is actually a fiscal instrument in which you deposit cash for any predetermined time period, earning interest at a greater price than common personal savings accounts.
Period: The investment decision time period can range from as quick as a single month to a number of decades.
Key Options of UOB's Singapore Dollar Mounted Deposit
Aggressive Fascination Prices
UOB gives eye-catching desire prices that may vary determined by the tenure and quantity deposited.
Versatile Tenure Possibilities
Clients can decide on tenures ranging from 1 thirty day period around sixty months, allowing for them to align their investments with personalized financial targets.
Minimal Deposit Quantity
The minimum amount total required to open up an FD account may possibly range; commonly, it starts off around SGD 1,000.
Interest Payment Alternatives
Fascination might be credited monthly or on maturity, determined by client preferences.
Early Withdrawal Penalties
Withdrawing cash before maturity may well incur penalties or lowered fascination prices; So, it's important to consider liquidity wants right before investing.
Security and Safety
Deposits are insured beneath the Singapore governing administration's plan for nearly SGD seventy five,000 per depositor for every financial institution.
Advantages of selecting UOB
Name & Rely on: As one among Asiaâs major banking institutions, UOB has established by itself as dependable and reputable.
On the net Administration: Shoppers can take care of their mounted deposits quickly as a result of on-line banking platforms without having Actual physical visits to branches.
Promotional Delivers: Sometimes, UOB supplies marketing rates which provide better still returns during precise periods or functions.
How It really works
Open an Account:
Take a look at any UOB department or use on the internet banking products and services.
Pick Your Deposit Amount of money and Tenure:
Choose how much you need to spend and choose your desired length.
Fund Your Deposit:
Transfer resources into your new FD account using income or other payment procedures made available from the bank.
Obtain Curiosity Payments:
Determined by your choice of payment frequency (month to month or at maturity), you can acquire your earnings appropriately.
Maturity Notification:
You will be notified Once your FD matures so you can determine no matter whether to resume website it or withdraw your principal in conjunction with gained pursuits.
Simple Case in point
Visualize you have SGD ten,000 that you don't will need usage of for 2 yrs:
You could possibly position this total in a very UOB fastened deposit that has a tenure of 24 months at a beautiful desire rate (e.g., one%).
At maturity:
You should acquire back again the initial SGD 10,000 furthermore extra earnings based on the agreed-on fascination feeâwhich makes it an efficient way to grow price savings when guaranteeing safety as opposed with additional unstable expense options like shares.
In conclusion, picking a Singapore dollar preset deposit at UOB lets buyers in Singapore not just stability but in addition possible expansion by means of aggressive curiosity choices tailor-made In keeping with specific requirements and Choices!