uob fixed deposit rate
uob fixed deposit rate
Blog Article
A set deposit is a popular personal savings option for people looking to gain desire on their resources about a specified interval. UOB (United Overseas Bank) is among the primary banking institutions in Asia and provides various preset deposit goods tailor-made for customers in Singapore.
What exactly is a Fixed Deposit?
Definition: A fixed deposit (FD) can be a monetary instrument in which you deposit funds for a predetermined time period, earning fascination at the next price than typical price savings accounts.
Length: The investment phrase can range from as quick as 1 month to numerous decades.
Vital Functions of UOB's Singapore Dollar Mounted Deposit
Competitive Fascination Premiums
UOB provides appealing interest premiums that will vary according to the tenure and volume deposited.
Adaptable Tenure Choices
Prospects can decide on tenures starting from 1 month nearly 60 months, permitting them to align their investments with own fiscal aims.
Minimum Deposit Amount of money
The minimal volume needed to open up an FD account could fluctuate; commonly, it starts off about SGD 1,000.
Interest Payment Possibilities
Fascination may be credited month to month or upon maturity, dependant upon purchaser Choices.
Early Withdrawal Penalties
Withdrawing cash right before maturity may possibly incur penalties or diminished curiosity charges; As a result, it is vital to take into consideration liquidity needs prior to investing.
Safety and Safety
Deposits are insured underneath the Singapore governing administration's scheme for up to SGD seventy five,000 for every depositor for each bank.
Positive aspects of selecting UOB
Name & Have faith in: As certainly one of Asiaâs main banking institutions, UOB has established by itself as dependable and trusted.
On-line Management: Buyers can handle their fastened deposits easily by way of on the internet banking platforms with no need Bodily visits to branches.
Promotional Presents: Sometimes, UOB supplies advertising fees that provide better still returns through unique intervals or occasions.
How It really works
Open up an Account:
Take a look at any UOB branch or use on the internet banking providers.
Pick Your Deposit Amount of money and Tenure:
Decide just how much you would like to spend and choose your preferred period.
Fund Your Deposit:
Transfer resources into your new FD account employing money or other payment solutions provided by the financial institution.
Obtain Desire Payments:
According to your alternative of payment frequency (month-to-month or at maturity), you'll get your earnings accordingly.
Maturity Notification:
You'll be notified when your FD matures so you're able to come to a decision whether or not to renew it or withdraw your principal in addition to attained interests.
Useful Instance
Picture you might have SGD ten,000 that you don't need to have usage of for two years:
You could put this volume in the UOB set deposit with a tenure of 24 months at a sexy fascination fee more info (e.g., 1%).
At maturity:
You would receive back again the original SGD 10,000 plus supplemental earnings determined by the agreed-on curiosity amountâmaking it a powerful strategy to mature personal savings whilst guaranteeing security compared with a lot more volatile financial investment selections like shares.
In summary, picking a Singapore dollar mounted deposit at UOB allows prospects in Singapore not simply security and also prospective growth as a result of competitive desire choices customized In line with specific demands and preferences!