Deposit Insurance Scheme

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With effect from 1 Apr 2006, United Overseas Bank Limited (UOB) is a participating bank of the Deposit Insurance Scheme ("Scheme").

What is Deposit Insurance Scheme?

The Deposit Insurance Scheme provides limited compensation to selected eligible deposits placed with full banks and finance companies in Singapore ("Scheme members").

The Deposit Insurance Scheme, established under the Deposit Insurance Act 2005, protects small depositors in Singapore who are least able to make informed decisions.

The Deposit Insurance Scheme is administered by the Singapore Deposit Insurance Corporation Limited ("SDIC"). The SDIC manages the Deposit Insurance Fund where compensation under the Scheme will be paid from. The Deposit Insurance Fund will be built from premium contributions by Scheme members.

Insured Deposits
- Singapore dollar deposits of an individual or a charity in:
  (a) Current Accounts
  (b) Savings Accounts
  (c) Fixed Deposit Accounts and
  (d) Supplementary Retirement Scheme ("SRS") deposit accounts,
  as well as accrued interest in these accounts are covered under the Deposit Insurance Scheme against the failure of the deposit-taking Scheme member (the "failed Scheme member"), i.e. a Scheme member who is ordered by a court to be wound up, or a Scheme member who is regarded by MAS as insolvent, unable (or likely to be become unable) to meet its obligations or about to suspend payments.
  
  Monies denominated in Singapore dollars placed by an individual or a charity with a Scheme member under the Central Provident Fund Investment Scheme ("CPFIS") are also covered under the Deposit Insurance Scheme against the failure of the relevant Scheme member.
Non-Insured Deposits
- Structured deposits, dual currency investments and deposits which are pledged, charged or secured as collateral are not covered under the Deposit Insurance Scheme. Additionally, if any deposit (or part thereof) is subject to a contractual set-off agreement in favour of the Scheme member, that deposit (or that part thereof), which is set aside in respect of any debt owing by the depositor to the Scheme member and which cannot be withdrawn by the depositor until the debt is fully paid up, is also not covered under the Deposit Insurance Scheme.
  
  Individuals who place deposits in an account with a Scheme member in the name of a partnership or sole proprietorship are not covered under the Deposit Insurance Scheme.
Insurance Limits
- Under the Deposit Insurance Scheme, the insurance coverage is limited to S$20,000 per depositor per Scheme member in respect of the aggregate of all of the depositor's insured deposits described above (other than the monies placed under the CPFIS). Monies placed under CPFIS are separately insured up to S$20,000 per depositor per Scheme member.
  
  Please refer to UOB Insured Deposit Register (PDF: 59KB) for a list of UOB accounts/ products that are covered under the Deposit Insurance scheme.

More Information

Visit any UOB Group branch or call us 24-hour, toll-free at 1800 222 2121 for queries.

Useful Information

Uniplus Account Rates

Savings Amount	Rates
First S$3,000	0.2500
Next S$47,000	0.2750
Next S$50,000	0.3750
Remaining Balance Above S$100,000	0.4750

Deposits

Deposit Insurance Scheme

More Information

Useful Information

Uniplus Account Rates