uob fixed deposit rate
uob fixed deposit rate
Blog Article
A fixed deposit is a well-liked cost savings possibility for people looking to make interest on their cash about a specified time period. UOB (United Abroad Bank) is amongst the main banking institutions in Asia and provides various mounted deposit goods personalized for customers in Singapore.
What on earth is a Fixed Deposit?
Definition: A set deposit (FD) is really a economical instrument where you deposit revenue for any predetermined interval, earning interest at the next charge than common cost savings accounts.
Period: The investment decision term can range between as brief as a single month to various several years.
Critical Functions of UOB's Singapore Dollar Preset Deposit
Competitive Desire Fees
UOB features appealing interest premiums that could vary depending on the tenure and sum deposited.
Adaptable Tenure Selections
Buyers can opt for tenures ranging from 1 thirty day period around 60 months, permitting them to align their investments with personal monetary aims.
Least Deposit Total
The minimal amount of money required to open an FD account may well change; usually, it commences all over SGD one,000.
Fascination Payment Options
Interest could be credited every month or on maturity, according to consumer preferences.
Early Withdrawal Penalties
Withdrawing resources right before maturity may perhaps incur penalties or reduced fascination prices; Consequently, it is important to think about liquidity desires just before investing.
Basic safety and Protection
Deposits are insured underneath the Singapore govt's plan for up to SGD seventy five,000 for every depositor per bank.
Rewards of Choosing UOB
Track record & Rely on: As one among Asiaâs foremost banking institutions, UOB has recognized alone as reliable and trusted.
On line Management: Prospects can regulate their preset deposits very easily via online banking platforms without needing Actual physical visits to branches.
Promotional Features: Often, UOB supplies marketing fees that provide a lot better returns during particular periods or events.
How It really works
Open an Account:
Stop by any UOB department or use on the internet banking providers.
Select Your Deposit Amount and Tenure:
Decide how much you ought to commit and choose your most well-liked length.
Fund Your Deposit:
Transfer resources into your new FD account employing cash or other payment strategies made available from the lender.
Get Interest Payments:
Determined by your option of payment frequency (every month or at maturity), you may receive your earnings appropriately.
Maturity Notification:
You'll be notified Whenever your FD matures so that you can choose regardless of whether to resume it or withdraw your principal as well as earned passions.
Sensible Illustration
Envision you have SGD 10,000 that you do not have to have entry to for two yrs:
You may location this sum inside a UOB fastened deposit having a tenure of 24 months at an attractive curiosity rate (e.g., 1%).
At maturity:
You would probably obtain again the initial SGD ten,000 as well as extra earnings based on the agreed-upon desire priceâwhich makes it an effective technique to develop discounts even though more info guaranteeing safety when compared with additional risky expense possibilities like shares.
In summary, deciding on a Singapore greenback preset deposit at UOB will allow consumers in Singapore don't just safety but will also opportunity progress as a result of competitive fascination offerings tailor-made In accordance with unique requirements and preferences!