Uob Fixed Deposit Rate For Senior Citizen
They usually earn 0 25 to 0 75 higher interest compared to regular deposit rates for tenures ranging between 6 months to 10 years.
Uob fixed deposit rate for senior citizen. Currently the highest senior citizen fixed deposit rate is 9 50 which is offered by fincare small finance bank. If you are their priority banking customer you can get a preferential rate of 0 60 p a. The fds with maturity period 7 days to 45 days will earn 4 and those of 46 days to 90 days will fetch 4 5.
If the fixed deposit is withdrawn before its maturity no interest will. Above the interest rates for a 6 9 12 18 24 or 36 month fixed deposit. For 91 days to 180 days and 181 days to 364 days you will get 5 and 7 interest rates respectively if you are a senior citizen.
The senior citizen may avail the tax benefit wherein no tds will be charged if the senior citizen does not earn rs. The minimum placement is s 25 000. However if the senior citizen earns more than rs 50 000 per year then the bank will charge 10 tds on the entire interest and if the investor fails to provide with the pan details then 20 for the same will be charged.
The fixed deposit must be made with fresh funds and not funds transferred from existing uob savings current fixed deposit account s or uob cheques cashier s orders and demand drafts. Up to 0 90 10mo s 20 000 min deposit uob singapore dollar fixed deposit offers some of the market s highest interest rates for small to moderate s 50k sized deposits with longer tenures and also comes with an attractive promotion. Fixed deposits prove to be a good choice for senior citizens who have low or irregular income.
They prefer to invest a large amount of their money in bank fds because the principal investment amount is considered safer as compared to investments in equity and the former also offers assured return in the form of interest income. Most of the banks as well as the non banking financial companies or nbfcs provide preferential extra fd rates to senior citizens at an extra rate of 0 25 1 00 approximately. For senior citizens fixed deposit fd is one of the most common financial instrument to invest their money.
The promotional interest rate will only apply if the fixed deposit is held to maturity. Grand senior citizens fixed deposit grand senior citizens fixed deposit account allows the customer to enjoy an extra interest of 0 125 p a. Standard chartered sgd fixed deposit.
For deposits maturing in one year to 699 days the interest is 8 25.
