Dear readers, today is the start of a new month! For savers, a new month typically means new fresh fixed deposit rates offered from banks and financial institutions since such fixed deposit rates are normally refreshed on at least a monthly basis. In this post, let me share with you All you need to know in relation to UOB Fixed Deposit for Jun 23, this month!
First, as a recap, for the month of May 23, UOB fixed deposits was 3.45% per annum before this fixed deposit rate was then updated to 3.20% per annum in mid-May 23. Given banks these days have been lowering their fixed deposits and same trend with Singapore Savings Bonds, what can we expect of the Jun 23 fixed deposits rates from banks (in today’s post, we start off with UOB) these days?
Well, from 1 Jun to 30 Jun 2023, for a minimum fixed deposit of $10,000, UOB is offering a fixed deposit interest rate of 3.10% per annum for Jun 23 for a 6-month or 10-month tenure. This refreshed fixed deposit interest is definitely lower than the 3.20% fixed deposit interest rate last month and is in line with the downward trend of fixed deposits.
Fixed interest rates keep declining and this is why I believe (as per my sharing in an earlier blog post) that savers should capitalise on the still decent interest rates of Singapore Savings Bonds to lock in a good interest rate for the longer term (aka 10 years based on the tenure of Singapore Savings Bonds).
That’s it for my insights today. I Thank you once again for your support of SG STOCKS INVESTING, your Money and Lifestyle magazine! I also run another blog Singapore Stocks Investing with similar useful insights! Connect with me here to follow the daily exciting and useful posts on these two blogs, Thank You for your support!
BINGE READ ALL POSTS!
Visit Home Page for more reads or Connect here!