The United Overseas Bank Limited, often known as UOB and headquartered in Singapore with branches throughout most Southeast Asian countries. UOB provides commercial and corporate banking services, personal financial services, private banking and asset management services, and corporate finance, venture capital, investment, and Insurance services. There are 19 branches in Singapore and more than 500 offices in 19 countries.
A fixed deposit (FD) is a great way to save money for a specific period. With high rates and complete safety from withdrawal, this investment type offers new investors great opportunities in return on their investments!
You should know the interest rates upon maturity to ensure you gain a great amount of return. Interest rates differ from bank to bank and tenure to tenure.
Different banks offer different tenures, ranging from 1 month to a few years. Choose the one that suits your needs and financial goals.
It is crucial to identify all costs incurred to avoid spending more than expected.
You should be informed of the penalty amount to know what to expect if you need to withdraw the money before maturity.
Being aware of the customer service and the reputation of the bank you are planning to apply your fixed deposit account is an important step! Do thorough research before deciding on a bank.
UOB offers 1 type of fixed deposit, which is UOB Fixed Deposit.
You are eligible to apply for UOB Fixed Deposit if you are:
Among other reasons, you should choose UOB Fixed Deposit because:
The documents needed to apply for UOB Fixed Deposit are as follows:
Up to 12 months tenure.
The minimum amount of deposit is RM500.
Loss of fixed deposit certificate service charge
You can withdraw and stop investing at any time, but there may be a penalty fee, and your interest profits will go away too.
For more information or assistance with UOB Fixed Deposit, please visit the UOB official site or the nearest UOB branches.
It stands for per annum or each year.
The amount of return earned by depositors.
The amount of time the money is locked in a fixed deposit account.
The amount of money locked in a fixed deposit account to earn interest.
The additional charge from the bank for withdrawals before maturity (or premature withdrawal).
The end of a set time when an investment becomes due, and the principal and interest are repaid.
The money withdrawal in a fixed deposit account before maturity.
The withdrawal of part of the amount in a fixed deposit account before maturity.
PolicyStreet is approved and licensed by Labuan Financial Services Authority, Bank Negara Malaysia, and Australian Securities & Investments Commission.