UOB lowers interest rate for fixed deposits to 1.5% in Q3

Submitted By:  Staff Reporter Case Study:  No Mortgage rates were also cut 20bp to about 2%. United Overseas Bank (UOB) has lowered the interest rate for fixed deposits to 1.5% in Q3 from 1.8% previously, amidst risks of the overall net interest margin (NIM) compressing due to lower policy interest rates in the region although NIM could remain resilient in Singapore. Fixed deposits make up 52% of the total deposits. Mortgage rates were also cut by 20bp to about 2%. read more