uob fixed deposit rate
uob fixed deposit rate
Blog Article
A fixed deposit is a well-liked savings possibility for people seeking to earn fascination on their cash more than a specified interval. UOB (United Overseas Lender) has become the top banking companies in Asia and gives various mounted deposit products tailor-made for patrons in Singapore.
What exactly is a hard and fast Deposit?
Definition: A fixed deposit (FD) can be a financial instrument where you deposit dollars to get a predetermined period of time, earning desire at the next price than standard savings accounts.
Duration: The financial commitment time period can range from as quick as a person thirty day period to a number of several years.
Vital Features of UOB's Singapore Dollar Set Deposit
Competitive Fascination Premiums
UOB features appealing curiosity costs that can differ dependant on the tenure and amount deposited.
Flexible Tenure Choices
Consumers can decide on tenures ranging from 1 month around 60 months, enabling them to align their investments with private fiscal ambitions.
Bare minimum Deposit Volume
The least volume necessary to open an FD account might vary; typically, it starts all-around SGD one,000.
Fascination Payment Alternatives
Curiosity may be credited monthly or on maturity, determined by buyer Choices.
Early Withdrawal Penalties
Withdrawing funds right before maturity may well incur penalties or diminished curiosity rates; Consequently, it is important to contemplate 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 per lender.
Rewards of selecting UOB
Status & Believe in: As amongst Asiaâs major banks, UOB has proven itself as reputable and trustworthy.
On the net Management: Buyers can manage their mounted deposits easily by way of online banking platforms with no need Actual physical visits to branches.
Promotional Delivers: Often, UOB gives advertising rates which offer even better returns for the duration of unique periods or functions.
How It really works
Open up an Account:
Visit any UOB branch or use on the web banking products and services.
Select Your Deposit Sum and Tenure:
Come to a decision how much you need to commit and choose your most well-liked period.
Fund Your Deposit:
Transfer resources into your new FD account using money or other payment strategies provided by the financial institution.
Get Fascination Payments:
Dependant upon your alternative of payment frequency (every month or at maturity), you'll receive your earnings appropriately.
Maturity Notification:
You will be notified Whenever your FD matures in order to come to a decision no matter if to resume it or withdraw your principal in conjunction with acquired passions.
Useful Example
Envision you have SGD ten,000 that you don't want click here entry to for 2 yrs:
You could possibly area this sum inside a UOB fixed deposit which has a tenure of 24 months at a pretty curiosity price (e.g., one%).
At maturity:
You'll obtain again the initial SGD 10,000 moreover added earnings depending on the agreed-on curiosity priceârendering it a highly effective method to mature personal savings whilst making sure security as opposed with far more risky expenditure choices like shares.
In summary, choosing a Singapore greenback set deposit at UOB lets consumers in Singapore don't just safety and also possible expansion via aggressive desire offerings tailor-made In keeping with personal requires and preferences!