uob fixed deposit rate
uob fixed deposit rate
Blog Article
A set deposit is a well-liked financial savings selection for individuals planning to gain fascination on their own money above a specified time period. UOB (United Overseas Bank) is amongst the major banking institutions in Asia and gives different set deposit goods personalized for patrons in Singapore.
What on earth is a set Deposit?
Definition: A fixed deposit (FD) is usually a money instrument where you deposit cash for a predetermined period of time, earning curiosity at a higher level than standard cost savings accounts.
Duration: The financial investment phrase can range from as limited as a single thirty day period to numerous many years.
Vital Characteristics of UOB's Singapore Dollar Mounted Deposit
Competitive Interest Rates
UOB offers desirable desire costs that can vary dependant on the tenure and sum deposited.
Adaptable Tenure Choices
Shoppers can pick tenures starting from one month as many as sixty months, enabling them to align their investments with personal fiscal plans.
Minimal Deposit Total
The minimum quantity necessary to open up an FD account might fluctuate; ordinarily, it starts all around SGD one,000.
Desire Payment Choices
Fascination can be credited regular monthly or on maturity, based upon consumer Choices.
Early Withdrawal Penalties
Withdrawing cash in advance of maturity may incur penalties or decreased curiosity costs; Consequently, it is vital to think about liquidity wants ahead of investing.
Protection and Stability
Deposits are insured underneath the Singapore governing administration's plan for nearly SGD seventy five,000 for every depositor for each financial institution.
Positive aspects of Choosing UOB
Popularity & Have faith in: As amongst Asiaâs top banking institutions, UOB has proven itself as trustworthy and reputable.
On-line Management: Customers can manage their preset deposits quickly by on the net banking platforms with no need physical visits to branches.
Marketing Delivers: At times, UOB gives promotional premiums offering better still returns throughout unique periods or occasions.
How It Works
Open up an Account:
Check out any UOB branch or use on the net banking providers.
Choose Your Deposit Volume and Tenure:
Determine exactly how much you wish to invest and select your most popular duration.
Fund Your Deposit:
Transfer cash into your new FD account utilizing dollars or other payment techniques supplied by the lender.
Obtain Fascination Payments:
Based on your decision of payment frequency (monthly or at maturity), you may acquire your earnings appropriately.
Maturity Notification:
You'll be notified Whenever your FD matures in order to make your mind up regardless of whether to resume it or withdraw your principal coupled with gained interests.
Useful Illustration
Visualize you have SGD 10,000 that you do not require entry to for two a long time:
You could possibly place this amount of money inside a UOB fixed deposit having a tenure of 24 months at an attractive fascination price (e.g., one%).
At maturity:
You'll receive back again the first SGD 10,000 moreover added earnings according to the agreed-on interest levelâmaking it an effective solution to expand financial savings though ensuring basic safety compared here with far more risky investment alternatives like shares.
In summary, picking a Singapore greenback preset deposit at UOB permits prospects in Singapore not just stability but also prospective progress as a result of aggressive desire choices customized In keeping with individual needs and Tastes!