What do I need to know to know about UOB Golden Saver?
The UOB Golden Saver is a fixed deposit ( FD) account made especially for senior citizens aged 50 and over. Compared to the normal UOB fixed deposit, Golden Saver gives you more with additional an 0.5%p.a. on your fixed deposit rate.
How much deposit do I need to open an account?
You must be willing to place a minimum initial deposit of at least RM100,000 to get started. Also, each subsequent fd placement must be at least RM50,000.
Do I need to open a savings account?
Yes, you are required to open the UOB Saving Plus account to be eligible for UOB Golden Saver. The initial minimum deposit of Saving Plus account is lower at RM2,000.
Can I enjoy higher interest rates with greater deposits?
Unfortunately, you won't be able to do so with the UOB Golden Saver. If you'd like to place more than RM500,000 into your account, the interest rate will be sightly lower believe it or not!
What are the fees and charges?
In general, there is no fee applicable on this fixed deposit account. However, if you lose your fixed deposit receipt, you will be charged. The fees are as following:
- RM10 of stamp duty on indemnity
- RM5.30 of service charge on replacement (inclusive of GST)
Can I withdraw my money at an earlier date?
Yes, you can - It is your money after all! But, UOB may not pay a single sen of interest to you if you decide to do so, and they may even charge you a penalty fee.
Is this a PIDM protected investment account?
Yes, this deposit is secured by PIDM for up to RM250,000 per person per bank in the event that you lose your investments due to the bank's negligence or failure.