Are you planning to open a savings account that will earn you more money? If yes, then you need to open a fixed deposit account offered by OCBC bank. A fixed deposit account is one of the most reliable deposit accounts out there. This account requires you to deposit a lump sum amount for a certain period and will in turn accrue interest. The reason why a fixed deposit account is highly recommended for people who want to save their hard-earned money is that it has a higher interest rate compared to other types of savings accounts. It is indeed the best deposit account to open if you want to secure higher returns for your money. In this article, we will discuss the benefits of opening a fixed deposit account at OCBC bank.

  • Higher returns guaranteed

One of the main benefits of opening a fixed deposit account at OCBC bank is that you are guaranteed higher returns for your money. OCBC Bank offers up to 1.5% interest rates for customers with a fixed deposit account. The interest rate offered by OCBC bank for fixed deposit accounts is much higher compared to that offered by other banks in Singapore. So, if you open a fixed deposit account at OCBC bank, you are guaranteed higher returns.

  • Safe and guaranteed returns

Besides having a higher interest rate compared to other savings accounts, fixed deposit accounts also have safe and guaranteed returns. This means that irrespective of the market situation, your investment will be safe and secure. Your money will continue earning interest, meaning you are guaranteed higher returns. When you invest in a fixed deposit account, you  are assured of great returns.

Another benefit of investing your money in a fixed deposit account is that you don’t need to keep track of your investment all the time. It is a one-time effort, meaning once you have invested, you don’t need to monitor it all the time. This makes it a great choice for someone who wants to invest his/her money but does not have time to do follow-ups.

When you deposit your money in a fixed deposit account, your hard-earned money is insured. Fixed deposit accounts are usually insured, meaning that even if the bank goes into receivership, your money will be safe. Opening a fixed deposit account is one of the safest ways to guarantee the safety of your money in a bank.

Opening a fixed deposit account at OCBC bank gives you the flexibility to invest as much money as you wish. There is no limit as to how much you can deposit in your account. The minimum amount that you are required to deposit at your fixed deposit account is SGD 5,000 but you can invest as much as you wish. Remember the more money you invest, the higher the returns. Customers are also given the chance to choose a tenure of their fixed deposit from 7-20 years.

For more information about the fixed deposit account offered by OCBC Bank, visit https://www.ocbc.com/personal-banking/deposits/fixed-deposit-account.