The UOB US Dollar Foreign Currency Time Deposit is a safe investment option because:
- You can keep your money locked away for some period.
- Earn an assured return.
UOB offers multiple currency choices. The US dollar deposit is a popular choice.
Important features are:
- You can choose from an array of tenures that starts from 1 week and goes up to 12 months.
- The minimum deposit requirement for this deposit scheme is 5000 units.
- No additional fee has to be paid in order to maintain your Fixed Deposit account.
- The interest earned on this FD scheme is exempt from estate duty and tax even for non-resident individuals.
- Deposits will start accruing interest, irrespective of the tenure. A deposit below US$50,000 for 1 week will earn you an interest of 0.19% p.a. and a deposit above US$250,000 but below US$500,000 will earn you an interest of 2.19% p.a.
- This fixed deposit can be used as a collateral for an overdraft in foreign currencies, loan or other credit facilities with this bank.
UOB USD Foreign Currency Time Deposit Interest Rates:
You can earn an interest in the range of 0.19% to 2.19% p.a. depending on the amount you deposit and the tenure. The rate of return is directly proportional to the amount and the tenure.
US dollar rates can change quickly with currency fluctuations. You’re advised to check the final rates before applying for this deposit scheme.