| FAQ - Structured Deposits |
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| Q1. | What is a structured deposit? |
| A | A structured deposit is a combination of a deposit and an investment product. The return is dependent on the performance of some underlying financial instrument. Generally, a structured deposit is linked to financial instruments such as market indices, equities, fixed income instruments, or a combination of these. Unlike traditional deposits, a structured deposit has risk and investment elements, and is not an insured deposit within the meaning of the Deposit Insurance and Policy Owners’ Protection Schemes Act 2011 of Singapore. |
| Q2. | What are the benefits of investing in a structured deposit issued/offered by the Bank? |
| A |
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| Q3. | What should I consider before investing in a structured deposit? |
| A | When choosing a structured deposit, you should consider the following:
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| Q4. | Is structured deposit covered under the Deposit Insurance and Policy Owners’ Protection Schemes Act 2011 of Singapore? |
| A | No, structured deposit is not an insured deposit within the meaning of the Deposit Insurance and Policy Owners’ Protection Schemes Act 2011 of Singapore. |
| Q5. | Will my principal amount be guaranteed if I terminate my structured deposit before the maturity date? |
| A | No, if you terminate the structured deposit before the maturity date, you may lose part of your return and/or principal amount. |
| Q6. | Are the returns guaranteed? |
| A | Product features and returns vary for different structured deposits (including different structured deposit tranches). You must refer to each structured deposit’s Indicative Term Sheet and relevant documents for details. |
| Q7. | What is the minimum investment amount? |
| A | Generally, the minimum investment amount is $5,000 (in the currency of the structured deposit) and placement multiples of $1,000. Please refer to the respective structured deposit Indicative Term Sheet for details. |
| Q8. | Who can invest in structured deposits? |
| A | You need to be at least 21 years of age at the date of application for the structured deposit and you need to pass the Customer Knowledge Assessment ("CKA"). You need to have both:-
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| Q9. | How will I be informed of the status of my application for the purchase of the structured deposit? |
| A | The status of your application will be notified to you by post to the address you have specified to the Bank. When the structured deposit is launched, a structured deposit confirmation letter will be sent to you within 14 business days from the start date of the structured deposit notifying that your participation in the structured deposit is confirmed. |
| Q10. | What documents must I read and understand when investing in structured deposit? |
| A | You need to read and understand the structured deposit Indicative Term Sheet and Summary of Key Features to see if the structured deposit suits your financial needs and risk appetite before you apply to purchase the structured deposit. You must also read and understand the terms and conditions governing the structured deposit i.e. the General Terms and the Specific Terms. |
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| Q1. | How do I search and view the structured deposits offered? |
| A | From left navigation menu, under "Investments" click on Structured Deposit. |
| Q2. | How do I apply to purchase structured deposit via UOB Personal Internet Banking? |
| A | To apply to purchase structured deposit via UOB Personal Internet Banking,
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| Q3. | Can I view the details of my structured deposit purchased using cash immediately after completion of the structured deposit transaction? |
| A | For cash payment, you can select your debiting account from the dropdown list. During the structured deposit offer period, your investment will be placed under a normal Time/Fixed Deposit ("Pre-Structured Deposit"). Once the launch of the structured deposit is confirmed, on the structured deposit start date, your "Pre-Structured Deposit" will be automatically converted into the structured deposit you have selected. To view details of your application into the "Pre-Structured Deposit", from the left navigation menu, under "Account Information",
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| Q4. | Will I be earning interest for the period starting from the date of application to the structured deposit start date? |
| A | Yes, interest at the prevailing Time/Fixed Deposit interest rate will be paid to you for the funds placed in the "Pre-Structured Deposit". |
| Q5. | Is there a "freelook" period for structured deposit investment made via UOB Personal Internet Banking? |
| A | If you wish to withdraw the principal amount placed in the structured deposit
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| Q6. | What happens if the Bank decides not to proceed with the structured deposit? |
| A | In the event that the Bank decides not to proceed with the structured deposit, the Bank will, as soon as practicable, notify you and refund (in the same currency) the funds intended for the structured deposit to you. |
| Q7. | Can I use my SRS monies to apply for purchase of structured deposit online? |
| A | No. You will not be able to use SRS monies to apply for the purchase of structured deposit online via UOB Personal Internet Banking. If you wish to purchase structured deposit using SRS, you may visit one of our UOB branches and speak to one of our Personal Bankers for further assistance. |
| Q8. | Can I use my CPF monies to apply for purchase of structured deposit online? |
| A | No. You will not be able to use CPF monies to apply for the purchase of structured deposit. |
| Q9. | Can I withdraw my "Pre-Structured Deposit" online? |
| A | No, you will not be able to withdraw the "Pre-Structured Deposit" online via UOB Personal Internet Banking. Please visit one of our UOB branches for further assistance. |
| Q10. | Can I terminate my structured deposit online? |
| A | No, you will not be able to terminate the structured deposit online via UOB Personal Internet Banking. Please visit one of our UOB branches for further assistance if you wish to do so. |
| Q11. | Will investors be notified on the performance of UOB structured deposit via mail? |
| A | The interest payment advice for the structured deposit will be sent to you on each interest payment date of the structured deposit. You can also check the past performance of the structured deposit by downloading the "Return Tracker" of the structured deposit at uob.com.sg. |
| Q12. | Can the interest received from the structured deposit be credited into the Time/Fixed Deposit account where the principal amount for the structured deposit is maintained? |
| A | No. The interest payment from the structured deposit will be credited into the savings or current account you have selected for interest crediting. |
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| Q1. | What is the new requirement regarding the sale of structured deposit? |
| A | To safeguard the interest of customers, the Monetary Authority of Singapore (MAS) has introduced new requirements relating to the sale of Specified Investment Products ("SIP"). From 1 January 2012, financial institutions are required to assess whether customers have the relevant investment knowledge or experience to understand the risks and features of a SIP before offering the product to them. As structured deposit is a form of SIP, it will be subject to this new requirement. |
| Q2. | How will I be assessed? |
| A | A Customer Knowledge Assessment ("CKA") will be conducted online and you will be assessed based on your education qualifications, investment experience and working experience prior to your application to purchase structured deposit in UOB Personal Internet Banking. |
| Q3. | What are the criteria set for CKA? |
| A | You will be assessed based on three criteria:
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| Q4. | Do I need to fulfill all three criteria in order to pass the CKA? |
| A | You are required to satisfy any one of the criteria explained in question 3 to satisfy CKA requirements. Please note that in order to proceed with the application to purchase structured deposit in UOB Personal Internet Banking, the investment experience indicated must be pertaining to transactions in Collective Investment Schemes or ILPs, if you do not satisfy the criteria on Educational Qualifications and Work Experience. |
| Q5. | How will I be informed that I have met or have not met the CKA requirements? |
| A | Upon your completion of the CKA, the results of whether you meet the criteria for the satisfaction of CKA will be set out in UOB Personal Internet Banking. The outcome of the CKA will be displayed once you have completed it in UOB Personal Internet Banking. |
| Q6. | Can I still apply for the purchase of Structured Deposit in UOB Personal Internet Banking if I do not pass the CKA? |
| A | You will not be able to apply for the purchase of Structured Deposit in UOB Personal Internet Banking if you do not meet the criteria for the satisfaction of CKA. In this case, the Bank will contact you to provide you with advice for your investments. Please leave your contact details with us. |
| Q7. | How often do I need to complete the CKA? |
| A | You are required to complete the CKA before any application to purchase structured deposit in UOB Personal Internet Banking. |
| Q8. | Do I have to provide any supporting documents for the CKA (e.g. education certificates, relevant working experience, etc)? |
| A | You do not need to provide any documentation for the assessment. |
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| Q1. | What is the Risk Profile questionnaire? |
| A | The risk profile questionnaire comprises questions that will assess your risk profile based on your answers to the questionnaire. Upon completion of the questionnaire, a risk score will be generated which will determine your risk profile (Risk Averse, Conservative, Moderate or Aggressive). This may enable you to select investment products that may better suit your risk profile. The risk profile questionnaire is provided as an option for you to assess your risk profile only and is not to be used, relied on or considered as an offer, recommendation, advice or solicitation of an offer to buy, sell or subscribe for any investment product. |
| Q2. | Will the Risk Profile questionnaire provide me with a complete financial needs analysis? |
| A | No. The risk profile questionnaire is provided as an option for you to ascertain your risk profile only and is not to be used, relied on or considered as an offer, recommendation, advice or solicitation of an offer to buy, sell or subscribe for any investment product. It is not considered a financial needs analysis. You may seek advice from a licensed or an exempt financial adviser before making a commitment to buy, sell or subscribe for any investment product. If you choose not to seek advice from a licensed or an exempt financial adviser, it is your responsibility to ensure and you must carefully consider whether the buy, sell or subscription of any investment product is suitable for you. If you require financial needs analysis, you may also visit one of our UOB branches and speak to one of our Personal Bankers for further assistance. |