UOB USD foreign currency fixed deposit
Fixed deposit accounts are a sure-shot way of keeping away your money for some time, while earning some interest on the amount. UOB provides various choices of foreign currencies to open a fixed deposit account. Customers can choose from almost 10 different international currencies, one of which is the USD (United States Dollars).
With the UOB Foreign Currency Fixed Deposit, you are guaranteed better returns on the foreign currency that you choose with highly competitive and attractive interest rate packages offered by the bank. You can choose from an array of interest tenures that starts as low as a 1 week deposit account and up to 12 months for this deposit. In comparison to other banks, UOB has one of the lowest minimum deposit amount requirements for its Foreign Currency Fixed Deposit. For United States Dollar (USD), the minimum deposit amount is 5000 units. Also, you do not have to pay any additional fees to maintain your Fixed Deposit account. Additionally, even for non – residential individuals, the interest earned on the UOB Foreign Currency Fixed Deposit is exempt from estate duty and tax.
If you deposit below USD50,000 you will gain interest only after 2 months. However, you have the option of keeping it away for 1 to 2 weeks. If you deposit above USD100,000 even for a period of 1 week, you will gain an interest of 0.16% p.a.
Additionally, you could use the fixed deposit as collateral for an overdraft in foreign currencies, loan or other credit card facilities with this bank.
UOB USD foreign currency fixed deposit interest rates:
You can earn an interest in the range of 0.16% to 1.26% p.a. depending on the amount you deposit and the tenure. As always the case is, the higher the amount, the higher the interest rate.
Since interest rates are bound to change without prior notice, it is advisable to check the final rates before opening a fixed deposit account.