uob fixed deposit rate
uob fixed deposit rate
Blog Article
A fixed deposit is a well-liked financial savings selection for individuals looking to gain curiosity on their own money over a specified interval. UOB (United Overseas Lender) has become the major banks in Asia and delivers numerous preset deposit items personalized for customers in Singapore.
Exactly what is a Fixed Deposit?
Definition: A set deposit (FD) is a economic instrument in which you deposit cash for your predetermined period, earning curiosity at an increased price than standard savings accounts.
Duration: The financial commitment term can range from as limited as a person month to quite a few many years.
Essential Options of UOB's Singapore Dollar Set Deposit
Competitive Fascination Fees
UOB offers desirable curiosity premiums that will vary according to the tenure and sum deposited.
Versatile Tenure Selections
Prospects can choose tenures ranging from 1 thirty day period up to 60 months, permitting them to align their investments with private economic ambitions.
Bare minimum Deposit Volume
The least volume necessary to open an FD account could differ; normally, it begins about SGD 1,000.
Desire Payment Solutions
Fascination might be credited regular monthly or upon maturity, based on consumer Tastes.
Early Withdrawal Penalties
Withdrawing cash ahead of maturity could incur penalties or lowered interest fees; Consequently, it is important to think about liquidity needs right before investing.
Basic safety and Security
Deposits are insured underneath the Singapore federal government's scheme for as many as SGD 75,000 for every depositor for each lender.
Added benefits of Choosing UOB
Standing & Have faith in: As certainly one of Asiaâs main financial institutions, UOB has established by itself as dependable and trusted.
On the internet Administration: Consumers can regulate their mounted deposits easily by way of online banking platforms with no need Actual physical visits to branches.
Promotional Presents: Occasionally, UOB supplies marketing charges which offer even better returns for the duration of specific periods or functions.
How It really works
Open up an Account:
Pay a visit to any UOB department or use on line banking solutions.
Decide on Your Deposit Total and Tenure:
Determine the amount of you ought to commit and choose your most popular period.
Fund Your Deposit:
Transfer funds into your new FD account utilizing funds or other payment procedures made available from the lender.
Receive Interest Payments:
According to your decision of payment frequency (regular or at maturity), you'll receive your earnings appropriately.
Maturity Notification:
You will be notified Once your FD matures so that you click here can choose no matter whether to renew it or withdraw your principal in addition to attained pursuits.
Simple Instance
Visualize you have SGD ten,000 that you do not need to have entry to for two years:
You can position this volume in a UOB preset deposit with a tenure of 24 months at a beautiful interest amount (e.g., one%).
At maturity:
You'll receive again the first SGD 10,000 plus supplemental earnings based upon the agreed-upon interest amountâwhich makes it a powerful solution to develop personal savings although ensuring security in contrast with far more volatile expenditure possibilities like stocks.
In conclusion, opting for a Singapore greenback mounted deposit at UOB permits consumers in Singapore not simply protection but in addition potential growth through aggressive curiosity choices tailor-made In accordance with unique wants and Tastes!