The foreign currency fixed deposit account with United Overseas Bank (UOB) gives you the convenience of choosing the currency of your choice, from a wide variety. Canadian Dollar or CAD is one of the options.
The key highlights are:
- The minimum tenure available is 1 week.
- The maximum tenure available is 12 months.
- The minimum deposit required to open an account under this scheme is CAD 5,000.
- The account gets automatically renewed on maturity, unless you issue a special request or instruction.
- This time deposit can be used as a collateral for other loans and lines of credit.
- Deposit to and withdrawal from UOB foreign currency fixed deposits are easy and hassle-free.
- If your deposit is below S$100,000, you won’t earn interests on tenures up to 2 weeks.
- For deposits above 2 weeks, you’ll earn interests on tenures as low as 2 weeks.
- No interest is, however, awarded for the 12-month tenure.
- No fee is charged to maintain the account.
- Non-resident individuals will be exempt from paying tax on the interest earned.
- A credit card will be provided with this FD.
UOB Canadian Dollar Foreign Currency Fixed Deposit Interest Rates:
The interest rate ranges from 0.62% p.a. to 1.22% p.a.
The latest rates are shown in the table below:
|Currency/Tenure||1 Week||2 Weeks||1 Month||2 Months||3 Months||6 Months||12 Months|
|Below CAD 50,000||N.A.||N.A.||0.62% p.a.||0.66% p.a.||0.72% p.a.||0.9% p.a.||N.A.|
|Between CAD 50,000 and CAD 99,999||N.A.||N.A.||0.69% p.a.||0.73% p.a.||0.79% p.a.||0.97% p.a.||N.A.|
|Between CAD 100,000 and CAD 249,999||N.A.||0.13% p.a.||0.8% p.a.||0.84% p.a.||0.9% p.a.||1.08% p.a.||N.A.|
|Between CAD 250,000 and CAD 499,999||N.A.||0.33% p.a.||0.94% p.a.||0.98% p.a.||1.04% p.a.||1.22% p.a.||N.A.|
These rates keep fluctuating frequently as they bear a direct correlation to the movement of CAD against Singapore dollars. Check the latest rates before opening an account.