The UOB Foreign Currency Fixed Deposit offers potentially better returns on the foreign currency of your choice. You can gain tremendously with the attractive and competitive interest rate structures and currency appreciation. The bank offers flexible interest tenures starting from 1 week and up to 12 months. This bank has one of the lowest minimum amount requirements for any of their foreign currencies. The minimum amount requirement for the Australian Dollar (AUD) is 5000 units. Additionally, the bank does not charge any fees to maintain your fixed deposit account. Even for non – residential individuals, the interest earned on your UOB Foreign Currency Fixed Deposit is exempt from estate duty and tax. You can also use your Foreign Currency Fixed Deposit as a collateral for an overdraft in any foreign currencies or for any loan or credit facilities with the United Overseas Bank.
UOB presents many foreign currency options to its customers to open a fixed deposit account. The bank provides additional benefits when you open a fixed deposit account using AUD (Australian Dollars).
The minimum placement amount is AUD5,000 to begin an account. You could deposit up to AUD499,999 in the fixed deposit account.
The tenure ranges from 1 week to 12 months. Please note, your money will not gain any interest for the first 2 weeks, irrespective of the amount deposited.
UOB provides many choices to transfer deposit. You could use either cash, cheque or telegraphic mode. UOB is one of the banks that allow even 15-year-olds to open a fixed deposit account with them.
There is no fee for maintenance of the fixed deposit account. However, there are service charges for the transfers you make, if any.
UOB AUD foreign currency fixed deposit account interest rates:
The interest rates that UOB provides on your deposit ranges from 0.24% to 1.47% p.a. depending on the amount and tenure. Since interest rates offered by banks are dynamic, it is important to check before taking the final call.