A fixed deposit is like the safe low-risk investment option that can help investors earn relatively higher returns over a specified period of commitment. All fixed deposit providers require you to set a fixed amount of money for a fixed amount of period without withdrawing it until the maturity date.
The longer the money you have in the bank or any non-banking institution, the higher the rate of interest you will obtain. It’s a convenient and secure way to grow the money you have. In addition, an FD account works in the same manner as other deposit bank accounts that offer interest.
From the many banks or NBFCs in Singapore, opening a fixed deposit in Sing Investments and Finance Limited is considered an ideal option. They offer you many benefits that other FD providers do not provide. If you still wonder why you should open a Sing Investments & Finance fixed deposit account, read on to find out the answer.
Reasons to Open an FD Account in Sing Investments
Here are a few conditions when applying for an FD account can be an ideal choice for you:
- You own a considerable amount of money that earns nothing in a regular savings account.
- You would like an investment option with low risk. Even if some unexpected events happen to your FD provider, your own deposits and profit are still secured.
- You wish to have constant cash flow. The payments of interest are made at annual or quarterly periods on a regular basis.
- You require liquidity in the investment option that you have. You are allowed to make a full or partial withdrawal at any time so that you always have liquid cash.
The Best Time to Open an FD Account in Sing Investments
Unless you have a tremendous amount of cash, it’s best to wait for an offer from the FD provider before you apply for a fixed deposit. Keep in mind that once you deposit your money, you won’t be able to withdraw your money until maturity.
As with the entire financial choices, keep the expense of opportunity into consideration. Also, consider that your cash could be deposited in higher-income goods or allocated to other types of valuable assets.
Opening an FD Account in Sing Investments & Finance
- To open a Sing Investments & Finance fixed deposit account, you need to first locate its nearest customer center or contact their hotline at 6438 7060. The customer service will tell you all the documents you need to submit for opening a fixed deposit account.
- Mostly, you will need to prepare your NRIC if you are a Singaporean. If you are a foreigner, you need to submit your employment pass, passport, dependent pass, or student pass along with proof of your residential address.
With Sing Investments & Finance, you will enjoy some of the following benefits:
- Fixed deposit automated renewals upon the date of maturity.
- A wide range of placement intervals that you can select based on your requirements.
- Senior citizens will obtain an extra 0.125% interest rate over a fixed deposit rate of 12 months and above.
Sing Investments & Finance fixed deposit board rates.
|Deposit Range (% p.a)||Up to S$50,000||S$50,000 and above|
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Investors are allowed to place a fixed deposit of only US$500.