uob fixed deposit rate
uob fixed deposit rate
Blog Article
A set deposit is a well-liked personal savings possibility for individuals seeking to receive fascination on their own cash about a specified period of time. UOB (United Abroad Lender) is probably the main banks in Asia and provides different mounted deposit solutions customized for purchasers in Singapore.
What on earth is a hard and fast Deposit?
Definition: A set deposit (FD) is often a money instrument in which you deposit income for the predetermined time period, earning curiosity at a higher price than regular savings accounts.
Period: The financial investment expression can vary from as brief as 1 thirty day period to various several years.
Crucial Attributes of UOB's Singapore Greenback Mounted Deposit
Competitive Fascination Charges
UOB offers interesting curiosity rates that can differ determined by the tenure and quantity deposited.
Adaptable Tenure Alternatives
Prospects can decide on tenures ranging from 1 thirty day period around sixty months, making it possible for them to align their investments with personal money objectives.
Minimum amount Deposit Sum
The minimum amount sum needed to open an FD account may possibly change; normally, it starts off about SGD 1,000.
Fascination Payment Options
Curiosity is usually credited month-to-month or upon maturity, determined by shopper preferences.
Early Withdrawal Penalties
Withdrawing money in advance of maturity may incur penalties or decreased curiosity premiums; thus, it's important to think about liquidity wants ahead of investing.
Basic safety and Protection
Deposits are insured beneath the Singapore federal government's scheme for around SGD 75,000 per depositor for every lender.
Gains of selecting UOB
Status & Rely on: As considered one of Asiaâs primary financial institutions, UOB has proven itself as dependable and trustworthy.
Online Administration: Buyers can control their set deposits easily as a result of on the net banking platforms while not having physical visits to branches.
Marketing Delivers: From time click here to time, UOB offers marketing costs that provide a lot better returns for the duration of certain durations or functions.
How It really works
Open up an Account:
Go to any UOB department or use on-line banking products and services.
Decide on Your Deposit Amount and Tenure:
Come to a decision simply how much you want to spend and select your chosen period.
Fund Your Deposit:
Transfer money into your new FD account applying income or other payment solutions offered by the financial institution.
Acquire Interest Payments:
Dependant upon your preference of payment frequency (regular monthly or at maturity), you can expect to receive your earnings accordingly.
Maturity Notification:
You will be notified Once your FD matures so you can make a decision irrespective of whether to renew it or withdraw your principal in addition to acquired passions.
Simple Example
Envision you've got SGD 10,000 that you do not need to have use of for 2 yrs:
You could potentially place this quantity inside a UOB set deposit using a tenure of 24 months at a gorgeous curiosity fee (e.g., 1%).
At maturity:
You'd probably obtain back the first SGD ten,000 as well as extra earnings determined by the agreed-on curiosity amountâmaking it a successful approach to grow price savings whilst making certain safety compared with more volatile investment decision choices like shares.
In summary, choosing a Singapore greenback set deposit at UOB enables prospects in Singapore not only security and also possible expansion through competitive interest choices tailored As outlined by person requirements and Tastes!