uob fixed deposit rate
uob fixed deposit rate
Blog Article
A hard and fast deposit is a well-liked discounts possibility for individuals wanting to generate fascination on their own resources more than a specified period of time. UOB (United Abroad Lender) is among the top banking companies in Asia and gives several preset deposit goods customized for customers in Singapore.
Precisely what is a Fixed Deposit?
Definition: A fixed deposit (FD) is actually a monetary instrument in which you deposit funds for the predetermined interval, earning curiosity at a better amount than typical financial savings accounts.
Period: The investment decision phrase can range from as small as a person month to numerous years.
Critical Functions of UOB's Singapore Dollar Fastened Deposit
Aggressive Curiosity Premiums
UOB offers interesting interest premiums that can vary determined by the tenure and amount deposited.
Flexible Tenure Selections
Shoppers can choose tenures starting from one thirty day period as many as 60 months, making it possible for them to align their investments with personal money targets.
Minimal Deposit Amount
The bare minimum amount required to open up an FD account may perhaps differ; commonly, it starts all around SGD 1,000.
Desire Payment Alternatives
Fascination is often credited regular or upon maturity, based on customer Choices.
Early Withdrawal Penalties
Withdrawing money ahead of maturity may possibly incur penalties or minimized curiosity prices; Therefore, it's important to contemplate liquidity needs ahead of investing.
Security and Security
Deposits are insured beneath the Singapore authorities's plan for nearly SGD seventy five,000 for every depositor for every lender.
Gains of Choosing UOB
Standing & Have faith in: As one among Asiaâs leading banking institutions, UOB has founded by itself as trustworthy and dependable.
On line Administration: Buyers can regulate their preset deposits quickly by way of online banking platforms with no need Bodily visits to branches.
Marketing Presents: Often, UOB provides marketing premiums which offer better still returns through certain durations or situations.
How It really works
Open up an Account:
Go to any UOB branch or use on the internet banking products and services.
Choose Your Deposit Quantity and Tenure:
Choose the amount you ought to devote and select your desired length.
Fund Your Deposit:
Transfer funds into your new FD account employing income or other payment techniques provided by the lender.
Get Interest Payments:
According to your option of payment frequency (every month or at maturity), you may receive your earnings accordingly.
Maturity Notification:
You will be notified when your FD matures to help you make a decision no matter whether to resume it or withdraw your principal coupled with earned interests.
Useful Example
Imagine you have SGD ten,000 that you do not have to have usage of for 2 more info yrs:
You could potentially put this amount of money in a very UOB fastened deposit that has a tenure of 24 months at a pretty curiosity amount (e.g., one%).
At maturity:
You should acquire back again the first SGD ten,000 as well as added earnings based upon the agreed-upon fascination priceârendering it a successful solution to mature financial savings though guaranteeing protection in contrast with far more risky investment possibilities like stocks.
In conclusion, choosing a Singapore dollar set deposit at UOB makes it possible for prospects in Singapore not only security but additionally likely expansion by aggressive fascination offerings tailor-made In line with particular person requires and Choices!