UOB Group: UOB launches yuan products for investors to participate in China’s growth

New Renminbi deposit and fund products benefit from  an appreciating Renminbi and its increasing internationalisation

United Overseas Bank Limited (UOB) has unveiled two Renminbi deposit accounts in response to increasing investor appetite for the appreciating Chinese currency. In addition, the United Renminbi Bond Fund (the Fund), the first of its kind offered to retail investors in Singapore will also be offered by the end of March.

The UOB Foreign Currency Fixed Deposit pays interest rates ranging from 0.9 percent for a one-month deposit of at least Chinese  Renminbi (Offshore) (CNH) 250,000, to  1.45 percent for a 12-month deposit of at least CNH 5 million. The Global Currency Premium Account, offered exclusively to UOB Privilege Banking clients, pays interest of 0.7 percent per annum for a minimum deposit of CNH 250,000.

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http://www.uobgroup.com/assets/pdfs/about/news/2011/UOB_participate_in_Chinas_growth.pdf