UBA Fixed Deposit Accounts in Nigeria – If you’re tired of worrying about your savings with no return, there are other options out there that can help you grow your money safely while still allowing you to access it quickly and easily when you need it. A UBA fixed deposit account in Nigeria is one such option that helps you grow your money while still allowing you to take it out at any time with no penalty. This blog post will explain how to open a UBA fixed deposit account, so keep reading to learn more!
What is a fixed deposit account?
A fixed deposit account is a bank account where you can save your money for a set period of time, usually between one and five years. The interest rate on a fixed deposit account is usually higher than the interest rate on a savings account. This means that you can earn more money on your savings if you choose to open a fixed deposit account.
The Types of Fixed Deposits Available at UBA
UBA offers a variety of fixed deposit accounts to choose from depending on your needs. You can open a regular fixed deposit account, a call deposit account, or a structured deposit account.
To open a regular fixed deposit account, you will need to have your ID and initial deposit amount ready. The minimum amount you can deposit is N500,000.
To open a call deposit account, you will need to have your ID and initial deposit amount ready.
Features Of UBA Fixed Deposit Account
– A UBA minimum amount for fixed deposit account = N500,000
-There is no limit to the amount of money you can deposit into your account.
-You can choose to have your interest paid monthly, quarterly, or at maturity.
-The minimum tenure for a UBA fixed deposit account is 30 days, while the maximum is 180 days.
-At maturity, if you don’t want to reinvest your funds and just take out the original sum deposited, you need to notify the bank 30 days before the expiry date of your account.
-To open an UBA fixed deposit account in Nigeria, contact any of their branches nationwide. You will be required to fill out an application form with personal details.
-After that, it should only take around 2 weeks to process your application and allow you access to the account.
-It’s important to note that the rate of interest offered on UBA fixed deposits varies depending on which term you select.
-Interest rates on these accounts are also subject to change without notice.
-Some people may not be able to invest as much money upfront and so they might prefer other options such as a business current account or savings account, which offer more flexibility but generally have lower rates of return.
UBA Fixed Deposit Interest Rates
How To Open UBA Fixed Deposit Account In Nigeria. You can open a UBA fixed deposit account by visiting any UBA branch or by contacting the bank through their customer care line. The interest rate on UBA fixed deposit accounts is currently 2-6% per annum. You will receive your interest payment annually and at maturity of your term.
The process for opening a UBA fixed deposit account should not take more than 30 minutes.
If you’re looking for an alternative way to invest your money, consider opening a UBA fixed deposit account today!
Documents Required for Opening a Fixed Deposit Account
The following documents are required for opening a UBA Fixed Deposit account in Nigeria:
-A duly completed and signed Account Opening Form
-Valid means of identification (national ID card, international passport, driver’s license, etc.)
-Proof of address (utility bill, bank statement, etc.)
-Initial deposit amount (this can be in the form of cash, cheque, or bank transfer)
-Tenure of deposit (the period for which you want to keep the money deposited)
-Interest rate on the deposit (set by UBA but this varies depending on your tenure)
-Minimum and Maximum fixed deposit limit per year ( N500,000 to N200million and above
-Amounts that may be withdrawn from the account
Opening an Online Fixed Deposit Account at UBA
Follow these simple steps to open an online fixed deposit account at UBA in Nigeria:
1. Visit the UBA website and log into your Online Banking account.
2. Click on the ‘Deposits’ tab and select ‘Fixed Deposit’.
3. Enter the amount you wish to deposit and choose your preferred tenure.
4. Review the interest rate and click on ‘Submit’.