The United Overseas Bank (UOB) provides very attractive interest rates for several international currencies. NZD (New Zealand Dollar) is one among them. If you intend to open a fixed deposit with the UOB, you have a great earning potential with it. You could open a fixed deposit account in the UOB with as low as NZD5,000 and for a tenor as low as one week. However, your fixed deposit account will earn interest only if the tenor is more than one month.
The UOB Foreign Currency Fixed Deposit offers its customers a great earning potential with better returns. The New Zealand Dollar (NZD) currency is one of the major currencies offered for this foreign currency deposit. You can deposit NZD currency for a tenure that starts as low as 1 week and up to 12 months, the more you deposit and the longer you wait, the better your returns will be. UOB offers this fixed deposit for one of the lowest minimum deposit amount requirements on the island. Additionally, the deposit also comes with one the most convenient methods to deposit as well as withdraw your money. This includes cheque, cash or even telegraphic transfer. You also have access to the automatic renewal feature that will renew your fixed deposit upon its maturity. Other benefits include using your fixed deposit as a collateral for loans and other lines of credit with UOB.
The fixed deposit account can be opened by anyone who has completed the age of 15 years. This might be useful for your teenager later in his/her life. If you are not a resident of Singapore, you would need an introducer to open this account.
UOB New Zealand Dollar Foreign Currency Fixed Deposit Interest Rate
The interest rate for NZD fixed deposit account begins from 0.07% p.a. and could go up to 1.58% p.a. depending on the amount and tenor. Since interest rates offered by banks keep changing, it would be necessary to check it from the bank’s website.