The UOB Foreign Currency Fixed Deposit account offers great returns on the foreign currency of your choice. You will gain with both competitive interest rate structures and currency appreciation. The bank offers flexible tenures from 1 week to 12 months. UOB has one of the lowest minimum amount requirements for any of its foreign currencies. The minimum amount requirement for the Australian Dollar (AUD) is 5,000 units.
Additionally, the bank does not charge any fees to maintain your fixed deposit account. Even for non – resident individuals, the interest earned on 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 currency or for any loan or credit facilities with UOB.
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 AUD 5,000 to open an account. You could deposit up to AUD 499,999 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.
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 offers on your deposit ranges from 0.01% to 1.66% p.a. depending on the amount and tenure. Since interest rates offered by banks are dynamic, it is important to check before you take the final call. The table given below shows the interest rates for UOB Australian Dollar fixed deposit:
|Currency / Deposit Range (% p.a.)||1 Week||2 Weeks||1 Month||2 Months||3 Months||6 months||12 months|
|100,000 - 249,999||NA||NA||0.7400||0.8300||0.8900||1.0000||1.2600|
|250,000 - 499,999||NA||0.010||1.1400||1.2300||1.2900||1.400||1.660|