uob fixed deposit rate
uob fixed deposit rate
Blog Article
A fixed deposit is a popular financial savings option for individuals aiming to earn curiosity on their own resources above a specified time period. UOB (United Abroad Bank) is among the main financial institutions in Asia and delivers a variety of set deposit products customized for customers in Singapore.
What is a Fixed Deposit?
Definition: A hard and fast deposit (FD) is actually a economical instrument where you deposit revenue for any predetermined interval, earning curiosity at an increased rate than common personal savings accounts.
Duration: The expense time period can range from as shorter as a single thirty day period to a number of decades.
Crucial Features of UOB's Singapore Dollar Fastened Deposit
Aggressive Desire Charges
UOB presents appealing fascination fees that may vary depending on the tenure and sum deposited.
Flexible Tenure Possibilities
Prospects can choose tenures starting from one thirty day period nearly sixty months, allowing for them to align their investments with personal financial objectives.
Minimal Deposit Amount
The minimum amount volume required to open up an FD account could vary; commonly, it begins about SGD one,000.
Interest Payment Solutions
Curiosity can be credited every month or upon maturity, determined by client Tastes.
Early Withdrawal Penalties
Withdrawing resources ahead of maturity may perhaps incur penalties or lowered fascination rates; As a result, it is vital to think about liquidity demands right before investing.
Protection and Security
Deposits are insured under the Singapore authorities's scheme for around SGD 75,000 per depositor per bank.
Rewards of Choosing UOB
Track record & Have faith in: As one among Asiaâs primary financial institutions, UOB has founded by itself as trustworthy and reputable.
On the internet Management: Prospects can take care of their mounted deposits effortlessly as a result of on the net banking platforms with no need Actual physical visits to branches.
Promotional Presents: At times, UOB provides advertising premiums that offer better still returns through particular periods or functions.
How It Works
Open an Account:
Take a look at any UOB department or use online banking providers.
Opt for Your Deposit Amount of money and Tenure:
Determine the amount of you should devote and choose your most well-liked length.
Fund Your Deposit:
Transfer money into your new FD account utilizing money or other payment methods made available from the financial institution.
Obtain Desire Payments:
Based upon your alternative of payment frequency (regular or at maturity), you may receive your earnings accordingly.
Maturity Notification:
You will be notified when your FD matures to help you choose whether or not to renew it or withdraw your principal coupled with earned passions.
Simple Example
Picture you have got SGD ten,000 that you don't require entry to for two a long time:
You could potentially place this sum within a UOB mounted deposit that has a tenure of 24 months at a pretty fascination fee (e.g., 1%).
At maturity:
You'd probably obtain again get more info the original SGD ten,000 as well as added earnings depending on the agreed-on fascination priceârendering it a good approach to develop price savings even though ensuring security as opposed with far more risky expenditure choices like stocks.
In conclusion, choosing a Singapore greenback fixed deposit at UOB permits prospects in Singapore not just protection but will also likely expansion by means of competitive desire choices tailor-made In accordance with personal wants and preferences!