Dear readers, UOB bank announced its fixed deposit interest promotional rates (UOB October 23 fixed deposit interest rates) yesterday.
For a fresh fund of $10,000 and a tenor of either 6-month or 10-month, enjoy a 2.7% per annum fixed deposit promotional interest rates for UOB fixed deposits.
I noted that the 2.70% per annum for UOB has been the fixed deposit promotional interest rate that UOB has been offering to customers since Jul 23. I shared below the fixed deposit promotional interest rates for UOB fixed deposit in recent months.
May 2023: 3.45% per annum
Mid May 2023: 3.20% per annum
Jun 2023: 3.10% per annum, then updated to 2.90% per annum
Jul 2023: 2.7% per annum
Aug 2023: 2.7% per annum
Sep 2023: 2.7% per annum
Since then, the interest rate of the most recent 6-month Singapore T-bill has already crossed beyond 4% per annum to 4.07%. The average 10-year interest rate of Nov 23 Singapore Savings Bonds has increased to a respectable 3.32% per annum.
And other banks which are smaller than UOB are also offering higher fixed deposit promotional interest rates.
Hence I do not know what to say for the promotional fixed deposit interest rates from UOB which to me seems to be frozen, at 2.70% per annum.
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