uob fixed deposit rate
A set deposit is a well-liked financial savings selection for individuals planning to receive fascination on their money more than a specified time period. UOB (United Overseas Lender) is among the leading banks in Asia and features many fastened deposit merchandise tailor-made for customers in Singapore.
Exactly what is a set Deposit?
Definition: A fixed deposit (FD) is a economical instrument where you deposit cash for a predetermined interval, earning curiosity at a higher amount than standard financial savings accounts.
Period: The expenditure term can vary from as brief as a person thirty day period to quite a few many years.
Key Capabilities of UOB's Singapore Dollar Fixed Deposit
Competitive Fascination Charges
UOB provides attractive desire costs that may vary based on the tenure and volume deposited.
Adaptable Tenure Solutions
Consumers can select tenures starting from one thirty day period nearly sixty months, making it possible for them to align their investments with particular money aims.
Least Deposit Volume
The bare minimum amount needed to open an FD account may possibly vary; normally, it commences close to SGD one,000.
Fascination Payment Options
Desire might be credited regular monthly or on maturity, depending on buyer preferences.
Early Withdrawal Penalties
Withdrawing resources prior to maturity may possibly incur penalties or decreased interest rates; thus, it is vital to consider liquidity requirements prior to more info investing.
Safety and Protection
Deposits are insured beneath the Singapore authorities's scheme for as much as SGD seventy five,000 for every depositor per bank.
Rewards of Choosing UOB
Name & Have confidence in: As one among Asiaâs main financial institutions, UOB has recognized alone as reliable and dependable.
On the net Management: Consumers can take care of their preset deposits effortlessly by means of on the web banking platforms while not having physical visits to branches.
Promotional Offers: From time to time, UOB gives marketing premiums which offer better still returns throughout certain periods or situations.
How It really works
Open an Account:
Visit any UOB department or use on the web banking providers.
Select Your Deposit Amount and Tenure:
Determine just how much you want to spend and select your desired duration.
Fund Your Deposit:
Transfer cash into your new FD account working with dollars or other payment techniques supplied by the bank.
Get Curiosity Payments:
Based on your alternative of payment frequency (every month or at maturity), you will get your earnings appropriately.
Maturity Notification:
You will be notified Once your FD matures so you can come to a decision whether to renew it or withdraw your principal in conjunction with acquired passions.
Simple Illustration
Visualize you've SGD ten,000 that you do not need to have entry to for two a long time:
You might place this quantity inside a UOB fastened deposit that has a tenure of 24 months at a sexy fascination price (e.g., one%).
At maturity:
You should receive again the initial SGD ten,000 additionally further earnings based on the agreed-upon interest amountâmaking it a successful strategy to expand savings when making sure safety when compared with more volatile financial commitment selections like shares.
In summary, opting for a Singapore dollar set deposit at UOB lets customers in Singapore not merely safety and also likely advancement through aggressive curiosity offerings personalized In keeping with unique needs and Choices!