uob fixed deposit rate
uob fixed deposit rate
Blog Article
A fixed deposit is a well-liked savings choice for people wanting to earn desire on their resources more than a specified time period. UOB (United Overseas Lender) is one of the leading banking institutions in Asia and delivers numerous fastened deposit products personalized for patrons in Singapore.
What on earth is a Fixed Deposit?
Definition: A hard and fast deposit (FD) is actually a economic instrument where you deposit income for just a predetermined time period, earning fascination at the next fee than normal financial savings accounts.
Period: The financial investment phrase can range between as quick as one month to several decades.
Crucial Features of UOB's Singapore Dollar Set Deposit
Competitive Interest Prices
UOB offers desirable curiosity premiums that may vary according to the tenure and amount of money deposited.
Adaptable Tenure Choices
Consumers can opt for tenures starting from one month as much as 60 months, making it possible for them to align their investments with personal financial targets.
Least Deposit Amount of money
The minimum sum required to open an FD account could range; ordinarily, it starts close to SGD 1,000.
Desire Payment Options
Interest could be credited monthly or upon maturity, dependant upon consumer Choices.
Early Withdrawal Penalties
Withdrawing resources right before maturity might incur penalties or lessened fascination costs; Hence, it is vital to consider liquidity needs prior to investing.
Protection and Security
Deposits are insured beneath the Singapore govt's plan for around SGD seventy five,000 for each depositor for each lender.
Added benefits of Choosing UOB
Name & Have confidence in: As considered one of Asiaâs main banking institutions, UOB has established itself as trustworthy and trusted.
On-line Administration: Clients can take care of their fixed deposits conveniently via online banking platforms with no need Actual physical visits to branches.
Marketing Offers: Occasionally, UOB provides marketing prices that offer better still returns during distinct intervals or events.
How It Works
Open up an Account:
Check out any UOB department or use on the web banking solutions.
Pick out Your Deposit Amount of money and Tenure:
Decide how much you would like to spend and select your most popular period.
Fund Your Deposit:
Transfer resources into your new FD account working with income or other payment methods provided by more info the lender.
Receive Curiosity Payments:
Based upon your option of payment frequency (every month or at maturity), you may receive your earnings accordingly.
Maturity Notification:
You'll be notified Whenever your FD matures so you can make a decision regardless of whether to resume it or withdraw your principal together with attained passions.
Simple Example
Think about you have got SGD ten,000 that you don't require access to for 2 several years:
You could possibly put this amount of money in a very UOB preset deposit that has a tenure of 24 months at a pretty curiosity rate (e.g., one%).
At maturity:
You'd probably receive again the original SGD ten,000 as well as added earnings depending on the agreed-on curiosity rateâwhich makes it an efficient solution to expand financial savings though making certain protection in contrast with additional volatile financial commitment alternatives like stocks.
In conclusion, choosing a Singapore dollar fastened deposit at UOB allows buyers in Singapore not simply protection but also prospective progress by aggressive fascination offerings tailor-made As outlined by particular person requires and Tastes!