uob fixed deposit rate
uob fixed deposit rate
Blog Article
A hard and fast deposit is a well-liked discounts alternative for individuals planning to gain fascination on their money about a specified period of time. UOB (United Overseas Bank) is amongst the major financial institutions in Asia and delivers different fixed deposit products personalized for purchasers in Singapore.
Precisely what is a Fixed Deposit?
Definition: A set deposit (FD) is a money instrument where you deposit money for the predetermined period, earning curiosity at the next price than frequent price savings accounts.
Duration: The financial commitment time period can range from as quick as just one month to various many years.
Essential Options of UOB's Singapore Greenback Preset Deposit
Aggressive Fascination Costs
UOB presents beautiful fascination rates that could vary based on the tenure and sum deposited.
Adaptable Tenure Choices
Shoppers can select tenures ranging from 1 month as many as sixty months, making it possible for them to align their investments with individual economic aims.
Bare minimum Deposit Amount of money
The minimum amount amount required to open up an FD account may perhaps fluctuate; generally, it commences all over SGD one,000.
Fascination Payment Choices
Fascination can be credited month to month or upon maturity, dependant upon purchaser Choices.
Early Withdrawal Penalties
Withdrawing cash right before maturity may incur penalties or decreased interest prices; Therefore, it's important to take into consideration liquidity desires in advance of investing.
Basic safety and Safety
Deposits are insured under the Singapore authorities's plan for as many as SGD 75,000 for every depositor for each bank.
Benefits of selecting UOB
Popularity & Believe in: As one of Asiaâs primary banking check here institutions, UOB has established by itself as dependable and honest.
On the web Administration: Consumers can manage their fastened deposits effortlessly through on the net banking platforms without needing Bodily visits to branches.
Marketing Provides: Often, UOB supplies advertising rates that provide even better returns throughout certain intervals or activities.
How It Works
Open an Account:
Stop by any UOB department or use on the internet banking expert services.
Choose Your Deposit Sum and Tenure:
Make your mind up the amount of you would like to invest and choose your most well-liked period.
Fund Your Deposit:
Transfer money into your new FD account using income or other payment strategies supplied by the lender.
Get Curiosity Payments:
Dependant upon your decision of payment frequency (monthly or at maturity), you will obtain your earnings accordingly.
Maturity Notification:
You will be notified when your FD matures so you can choose regardless of whether to renew it or withdraw your principal as well as attained passions.
Practical Case in point
Visualize you have got SGD ten,000 that you do not will need use of for two decades:
You could potentially put this amount of money in a very UOB fastened deposit by using a tenure of 24 months at a gorgeous curiosity charge (e.g., one%).
At maturity:
You would probably obtain again the initial SGD ten,000 in addition extra earnings based on the agreed-upon desire chargeârendering it a successful technique to expand savings even though making sure safety when compared with more volatile financial investment alternatives like stocks.
In summary, deciding on a Singapore greenback set deposit at UOB allows prospects in Singapore not only safety and also opportunity development by way of aggressive desire choices customized according to person wants and preferences!