uob fixed deposit rate
uob fixed deposit rate
Blog Article
A set deposit is a well-liked cost savings possibility for people looking to generate interest on their own money more than a specified period. UOB (United Abroad Bank) is without doubt one of the leading banks in Asia and provides a variety of mounted deposit merchandise tailor-made for customers in Singapore.
What is a hard and fast Deposit?
Definition: A fixed deposit (FD) is a economical instrument where you deposit money for just a predetermined time period, earning interest at an increased charge than frequent personal savings accounts.
Period: The financial commitment expression can range from as limited as a person thirty day period to numerous decades.
Important Options of UOB's Singapore Dollar Mounted Deposit
Aggressive Desire Rates
UOB provides eye-catching fascination costs that can differ according to the tenure and sum deposited.
Flexible Tenure Options
Customers can choose tenures starting from 1 thirty day period as many as 60 months, enabling them to align their investments with individual monetary goals.
Minimum amount Deposit Total
The minimal amount necessary to open up an FD account may well range; generally, it starts all over SGD one,000.
Curiosity Payment Solutions
Curiosity might be credited month-to-month or upon maturity, based upon client Choices.
Early Withdrawal Penalties
Withdrawing resources prior to maturity may perhaps incur penalties or decreased curiosity costs; So, it is vital to think about liquidity desires right before investing.
Protection and Protection
Deposits are insured underneath the Singapore governing administration's plan for nearly SGD seventy five,000 for every depositor for each financial institution.
Rewards of selecting UOB
Name & Have faith in: As one among Asiaâs foremost banking institutions, UOB has established alone as reputable and reputable.
On-line Management: Buyers can handle their fastened deposits effortlessly by way of on line banking platforms while not having Actual physical more info visits to branches.
Marketing Features: Often, UOB gives marketing prices that offer even better returns through unique intervals or gatherings.
How It Works
Open up an Account:
Take a look at any UOB branch or use on the web banking providers.
Pick out Your Deposit Quantity and Tenure:
Decide exactly how much you wish to invest and choose your favored length.
Fund Your Deposit:
Transfer funds into your new FD account making use of cash or other payment approaches offered by the bank.
Get Desire Payments:
According to your preference of payment frequency (monthly or at maturity), you may get your earnings appropriately.
Maturity Notification:
You'll be notified Once your FD matures in order to make your mind up regardless of whether to renew it or withdraw your principal in addition to attained pursuits.
Useful Illustration
Picture you've got SGD ten,000 that you don't have to have usage of for 2 many years:
You could place this amount of money inside of a UOB fastened deposit by using a tenure of 24 months at a gorgeous curiosity price (e.g., 1%).
At maturity:
You would acquire back again the first SGD ten,000 in addition further earnings depending on the agreed-on curiosity feeâmaking it an effective method to expand personal savings when making certain safety compared with more unstable financial investment solutions like stocks.
In summary, deciding on a Singapore dollar fixed deposit at UOB makes it possible for shoppers in Singapore not just protection but additionally potential advancement by competitive curiosity choices tailored In line with person demands and Tastes!