Benefits of HSBC Fixed Deposit Schemes

A fixed deposit scheme can offer you with the ideal way to make money and ensure that you are able to have enough savings for a rainy day. When you opt for a fixed deposit scheme offered by a reliable bank or financial institution, you can earn a decent amount of interest at the end of the tenure and will also get the flexibility of choosing from a range of tenures. Hence, you will find it convenient to deposit money and can even choose the amount that you deposit. In order to reap the maximum benefits of fixed deposit scheme, you need to opt for a bank that offer very attractive rates with its deposit schemes along with other benefits. HSBC fixed deposit schemes can offer you with all the benefits and features that you can expect from a reliable deposit scheme.

Benefits of hsbc fixed deosit

Benefits of HSBC Fixed Deposit Scheme
The biggest advantage of an HSBC fixed deposit scheme is that it will offer you with flexible tenures. The tenures offered will be from 1 month to 12 months and you can choose any one tenure that will suit your needs the most. For example, if you are looking to invest money only for a short period of time, you can opt for a tenure of 1 month to 3 months. Similarly, if you want to invest money for a longer period of time, you can opt for a tenure of 4 months – 12 months. If you want to invest your money even for a longer period of time, you can easily renew the deposit at the end of the tenure and then save for as many months as you like.

Perhaps the biggest advantage of opting for a time deposit or fixed deposit scheme offered by HSBC Bank is that it will offer you with higher rates of interest on the deposit amount. The whole purpose of investing on a time deposit scheme is to make sure that you are able to earn a lot of interest during the tenure of the deposit and multiply your money in the process. Hence, you need to opt for a deposit scheme such as the one offered by HSBC bank so that you can earn a lot of interest and grow your money within a short period of time. If you are a premier customer of the bank, you might even be offered with a higher rate than that is offered to the regular customers of the bank.

HSBC Fixed Deposit schemes will allow you to make deposits in multiple currencies and so you will be able to get more for your bucks. Some of the foreign currencies such as Euros and US Dollars and high performing currencies and their values increase exponentially with time. Hence, when you open a deposit account in these currencies you will not only earn interest on the deposit but will also be able to earn more money through exchange rates. When the value of the currency increases with time, you will be able to get more value for the money that you invest in a deposit account. Hence, you can make more money in the process.

The process of opening an account under HSBC Fixed Deposit scheme is very simple and you will only need to submit a handful of documents to open an account. You will be offered with numerous payment options to deposit the amount that you need and make sure that your account is activated. You can download the application form online and then you can submit the same along with the required documents to open the account. The application will be processed within a few days and you will not have to waste any time in getting the account opened.

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Fixed Deposits offered by UOB

United Oversea Bank was founded in the year 1935 and been providing great financial solutions for the customers since the day it commenced operations. The bank has subsidiaries in Malaysia, Singapore, Thailand, China and Indonesia. Far Eastern Bank is one of the major subsidiaries of UOB bank ins Singapore.

uob fixed deposit

The bank offers great fixed deposit solutions. The tenors range between one to twelve, eighteen, twenty four and thirty six months. The rates of interest offered with the fixed deposit schemes are extremely competitive. You can also avail lucrative tax benefits, making the fixed deposit a good investment option for you.

The customers of the Singapore Dollar Fixed Deposit accounts can get more returns on the surplus SGD funds. The easy, quick and hassle free renewal process can also be enjoy by the customers of UOB Fixed Deposit accounts. The minimum amount that must be placed is as low as SGD 5000. The interest earned on the amount is paid every year in case of twenty four months or thirty six months tenure.

The customers of Foreign Currency FD accounts can enjoy high returns on their Foreign funds. Under the Foreign Currency FD scheme, the customers of UOB Bank can manage the cash flows that happen in multi currencies.  These deposits have investment periods that are highly flexible. The minimum deposit requirement is also low for these fixed deposit schemes and the renewal process is absolutely uncomplicated.

The senior citizens can avail the Grand Senior Citizens Fixed Deposit as it offers an extra of 0.125 percent per annum for a period of six, nine, twelve, eighteen, twenty four and thirty six months. Against a fixed deposit of SGD 50,000, an overdraft credit of SGD 50,000 can be availed. a discount of fifty percent can be enjoyed on the commission charges for demand drafts, telegraphic transfers, etc. which is subject to a charge of SGD 5.

UOB Singapore Dollar Fixed Deposit Interest Rates

Deposit Range 1 Months 2 Months 3 Months 4 Months 5 Months 6 Months 7 Months 8 Months
Below S$50,000* 0.05 0.05 0.10 0.10 0.10 0.15 0.15 0.15
S$50,000 to S$249,999 0.05 0.05 0.10 0.10 0.10 0.15 0.15 0.15
S$250,000 to S$499,999 0.05 0.05 0.10 0.10 0.10 0.15 0.15 0.15
S$500,000 to S$999,999 0.05 0.05 0.10 0.10 0.10 0.15 0.15 0.15

 

Deposit Range 9 Months 10 Months 11 Months 12 Months 18 Months 24 Months 36 Months
Below S$50,000* 0.2 0.2 0.2 0.25 0.5 0.55 0.65
S$50,000 to S$249,999 0.2 0.2 0.2 0.25 0.5 0.55 0.65
S$250,000 to S$499,999 0.2 0.2 0.2 0.25 0.5 0.55 0.65
S$500,000 to S$999,999 0.2 0.2 0.2 0.25 0.5 0.55 0.65

To maintain a fixed deposit account with UOB you do not pay any fees. There is tax exemption for the non resident people on the interest that they earn. For  Singapore Dollar Fixed Deposit Account, the applicant must be at least fifteen years old. In case a non resident wants to open a fixed deposit account, an introducer is required.

UOB also offers other products that include, insurance, investments, deposit and cash management, corporate banking, trade and commodity finance, privilege banking services, etc, wealth banking, loans, cards, merchant payments, etc. Choose from the wide range of financial products and services and enjoy the peace of mind that you need and deserve.

How To Get Better Fixed Deposit Interest Rate?

Fixed deposit schemes are very popular around the world as they help people to save money. There are numerous banks and financial institutions in Singapore that offer a variety of Fixed deposit schemes. These schemes are designed in such a manner that they can cater to the needs of all kinds of customers. In fact, a fixed deposit scheme can go a long way in helping people to manage their money. To reap the maximum benefits of such a scheme, it is important that you choose a deposit scheme that offers the best fixed deposit interest rate. If you do a little bit of research, it will not be very difficult to find such a time deposit scheme in Singapore.

Why should you open a fixed deposit account?

Money is perhaps the most important thing in our lives and although it is true that money can’t buy happiness, it is certainly needed to lead a comfortable life in today’s world. However, not a lot of people make more money than they require to meet their expenses and so they find it difficult to fulfil their financial needs or deal with uncertain financial situations. If you are someone who feels that you do not make enough money or if you understand how important it is to save money for the future, you should open a fixed deposit account. It will help you to save money and be prepared for financial uncertainties, along with helping you to grow your financial assets.

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How to Get Better Fixed Deposit Interest rate?

In order to figure out how you can enjoy the best possible interest rate on your time deposit Singapore schemes, you need to first get a fair idea of how fixed deposit or time deposit schemes work. In Singapore and in most other countries, the fixed deposit schemes offer the customers to deposit a certain sum of money with the bank, for a fixed period of time. The banks specify the minimum amount that has to be deposited and the customers earn interest on the deposit amount. Thus, when the term of the deposit ends, they get back the deposit amount along with the interest earned in that period. Thus, it is beneficial to opt for a deposit scheme that comes with a higher interest rate.

The interest rate offered with the fixed deposit schemes depends on a variety of factors, which include the deposit amount, the term of the deposit and so on. If you deposit a higher amount for a longer period of time, you are more likely to be offered with a better interest rate. For example, if you deposit S$25,000 for a period of 10 months, you are most likely to earn interest at the rate of 1.50% per annum however, if you deposit the same amount for a period of 24 months (2 years), you are most likely to earn interest at the rate of 1.75% per annum. There are many banks that will also offer you with higher interest on time deposit, if the deposit amount is high. For example, you are most likely to earn a higher interest rate if you deposit S$40,000 instead of S$25,000.

Compare Fixed Deposit Schemes

An effective way of getting a better fixed deposit interest rate is to compare the deposit schemes available in Singapore so that you can choose the scheme that can offer you with the best value for your money. There are a few online portals where you can compare the various time deposit schemes available in the country. You can explore the features, interest rates, benefits and other details about these schemes and based on the same you will be able to opt for a fixed deposit scheme that will suit your needs the most.

Banks Offering Fixed Deposit Schemes in Singapore

There are numerous banks that offer fixed deposit schemes in the country and some these banks are listed below:
CIMB Bank,
HSBC Singapore,
Standard Chartered Singapore,
RHB Singapore,
POSB Bank,
DBS Bank,
OCBC Bank,
Citibank Singapore etc.

Some of these banks even offer deposit schemes in currencies other than Singapore Dollar and the minimum deposit required to open a fixed deposit scheme can be as low as S$1,000.