uob fixed deposit rate
uob fixed deposit rate
Blog Article
A set deposit is a popular savings alternative for individuals seeking to make curiosity on their own money above a specified time period. UOB (United Overseas Lender) is one of the primary financial institutions in Asia and gives numerous set deposit products customized for customers in Singapore.
What's a Fixed Deposit?
Definition: A hard and fast deposit (FD) is usually a economic instrument where you deposit funds for your predetermined period of time, earning desire at a higher level than regular savings accounts.
Duration: The investment decision term can range from as short as a person month to a number of decades.
Essential Attributes of UOB's Singapore Dollar Fixed Deposit
Competitive Curiosity Rates
UOB delivers attractive fascination rates that could vary according to the tenure and total deposited.
Flexible Tenure Solutions
Buyers can decide on tenures ranging from 1 month as many as 60 months, enabling them to align their investments with individual monetary targets.
Bare minimum Deposit Volume
The least total required to open an FD account might change; normally, it starts all over SGD one,000.
Interest Payment Solutions
Desire is usually credited regular or on maturity, determined by customer Choices.
Early Withdrawal Penalties
Withdrawing money right before maturity may perhaps incur penalties or lowered desire charges; So, it's important to look at liquidity desires before investing.
Safety and Safety
Deposits are insured underneath the Singapore governing administration's plan for nearly SGD seventy five,000 for each depositor per lender.
Gains of Choosing UOB
Track record & Trust: As amongst Asiaâs leading financial institutions, UOB has recognized alone as trustworthy and reliable.
On line Management: Clients can deal with their set deposits conveniently through on the web banking platforms without having Bodily visits to branches.
Marketing Presents: From time to time, UOB presents promotional premiums that supply better yet returns all through certain intervals or activities.
How It really works
Open up an Account:
Check out any UOB department or use on the more info net banking expert services.
Pick out Your Deposit Sum and Tenure:
Make a decision simply how much you should commit and choose your most well-liked length.
Fund Your Deposit:
Transfer resources into your new FD account making use of income or other payment solutions made available from the lender.
Obtain Interest Payments:
Determined by your option of payment frequency (month-to-month or at maturity), you will acquire your earnings accordingly.
Maturity Notification:
You'll be notified Once your FD matures so you can decide whether or not to resume it or withdraw your principal in conjunction with acquired pursuits.
Simple Illustration
Imagine you've SGD 10,000 that you do not have to have entry to for 2 several years:
You could potentially put this total in a very UOB preset deposit that has a tenure of 24 months at a beautiful curiosity rate (e.g., one%).
At maturity:
You would obtain back the original SGD 10,000 plus more earnings based upon the agreed-on fascination priceârendering it an efficient solution to mature price savings while ensuring security in contrast with far more volatile investment decision options like stocks.
In conclusion, opting for a Singapore greenback mounted deposit at UOB enables buyers in Singapore not only protection but will also opportunity progress by means of aggressive curiosity choices tailor-made In accordance with person demands and Tastes!