uob fixed deposit rate
uob fixed deposit rate
Blog Article
A fixed deposit is a popular price savings selection for people planning to get paid curiosity on their own resources more than a specified period of time. UOB (United Abroad Lender) is probably the main banking institutions in Asia and presents various set deposit merchandise personalized for patrons in Singapore.
What's a Fixed Deposit?
Definition: A set deposit (FD) can be a money instrument in which you deposit money to get a predetermined time period, earning curiosity at a better amount than frequent savings accounts.
Duration: The expense term can range from as short as 1 month to a number of many years.
Important Functions of UOB's Singapore Dollar Set Deposit
Competitive Desire Fees
UOB features interesting fascination costs that could vary determined by the tenure and sum deposited.
Flexible Tenure Options
Customers can pick out tenures starting from 1 month nearly sixty months, enabling them to align their investments with individual financial plans.
Least Deposit Volume
The minimal amount needed to open an FD account may range; generally, it starts all-around SGD 1,000.
Desire Payment Selections
Curiosity is usually credited regular or upon maturity, based upon buyer preferences.
Early Withdrawal Penalties
Withdrawing cash prior to maturity may well incur penalties or lowered desire charges; So, it is important to consider liquidity demands prior to investing.
Basic safety and Security
Deposits are insured beneath the Singapore authorities's plan for up to SGD 75,000 for every depositor per financial institution.
Gains of Choosing UOB
Name & Believe in: As one among Asiaâs leading banking institutions, UOB has recognized alone as trustworthy and honest.
Online Management: Buyers can regulate their set deposits simply as a result of online banking platforms with no need Bodily visits to branches.
Advertising Features: Sometimes, UOB gives advertising premiums which provide even better returns throughout certain intervals or functions.
How It really works
Open up an Account:
Take a look at any UOB department or use on line banking products and services.
Choose Your Deposit Quantity and Tenure:
Choose simply how much you wish to commit and select your desired duration.
Fund Your Deposit:
Transfer funds into your new FD account utilizing money or other payment techniques offered by the bank.
Acquire Fascination Payments:
Dependant upon your decision of payment frequency (regular monthly or at maturity), you may obtain your earnings accordingly.
Maturity Notification:
You will be notified Whenever your FD matures so that you can determine whether or not to resume it or withdraw your principal in conjunction with acquired interests.
Simple Illustration
Picture you've SGD ten,000 that you do not require usage of for two many years:
You could potentially position this sum in more info a UOB fastened deposit using a tenure of 24 months at a beautiful desire charge (e.g., one%).
At maturity:
You'll receive back again the original SGD 10,000 plus more earnings according to the agreed-on interest amountâmaking it a powerful approach to mature cost savings while making certain protection in contrast with additional volatile expenditure options like stocks.
In summary, picking a Singapore dollar mounted deposit at UOB will allow consumers in Singapore don't just security but in addition opportunity development by way of aggressive interest offerings tailor-made As outlined by individual wants and Choices!