Dear readers, let us find out about the Apr 23 UOB Fixed Deposits in this post.
As a recap, in March 2023, UOB Fixed Deposits are as follows:
3.55% p.a for $10,000 to $49,999 deposit
3.85% p.a for $50,000 to $999,999 deposit
3.95% p.a for $1,000,000 and above
for a holding period of 6,10, 12-month.
As of Apr 23 (this month), UOB is offering a 6- and 10- months holding period for fixed deposits, there is no longer any option of a 12-month holding period and the interest rate for each 6- and 10-month holding period is a uniform 3.55% interest rate. More details at UOB Fixed Deposits webpage
As we note from above, savers with $50,000 to $999,999 capital will find the current UOB interest rate 0.30% lower than the previous month’s fixed deposit. In fact, from what I have found, there seems to be a slight reduction of fixed deposit interest rates offered by banks from this month on, compared to Mar 2023.
Savers with $50,000 to $999,999 capital may want to consider Hong Leong Finance fixed deposits for a 10-month deposit, as Hong Leong Finance offers a slightly higher rate at 3.60% (up to <$500,000) and 3.65% (for $500,000 and more). More details here.
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