United Overseas Bank is commonly referred to as UOB and it was established by Datuk Wee Kheng Chiang in the year 1935. At the time it was known as the United Chinese Bank. UOB adopted its current name 30 years later. UOB has its headquarters in Singapore. However, the operations of the bank are spread across 500 offices in 19 different countries and continents including Asia Pacific, Western Europe and North America. In the year 2011, the United Overseas Bank was named the Best Retail Bank of Singapore. Innovation has been key to establishing the services provided by the bank that include corporate finance, private banking, investment banking personal financial services, corporate and commercial banking and many more. Their customizable products include credit cards, debit cards, loans, investments, insurance, deposits and liquid assets to name a few.
UOB Property Equity Financing Overview
Using the UOB Property Equity Financing, you can get more cash by unlocking the value of your property. You can get cash unlocking the value of both, private as well as commercial property. You can make the most out of your property by tapping the enhanced value of it.
- As you start repaying the mortgage, you have the opportunity to build up the equity on your property.
- Once you gradually increase the value of your property, you will also increase the equity on your property.
- Once the equity on your property has increased, you can finally borrow against that equity through many ways such as an overdraft facility (this is applicable only to commercial property), a term loan (applicable to both - private and commercial property) or combine both these options.
Features and Benefits of UOB Property Equity Financing
- Property Equity Financing helps you in obtaining extra funds that will aid in meeting your financial goals and obligations.
- When you use the equity of your property to obtain funds, you can get attractive packages at very low interest rates and thereby use the money for any and all of your needs.
- You will receive your money upfront through a single payment.
- Your loan repayment will include making payments on a monthly basis and consist of the loan principal amount + interest.
- A property equity loan is the best option when you know exactly how much you need to borrow.
- Property equity overdrafts allow you to borrow money on standby wherein you have the liberty to draw down your standby money as and when you require it up to the maximum overall limit on the facility. You will only incur an interest on this when you actually draw down. You also have the luxury to decide how much of the principal amount of the loan you want to repay at any given time without having to worry about the penalty fees.
Applying for the UOB Property Equity Financing
For applying for the UOB Property Equity Financing or to clarify any doubts regarding the financing, the terms and conditions or the application procedure, you can contact the bank in the following ways
- You can fill in the UOB Contact Form with your contact details and submit it. The UOB Contact Form is available on the official UOB Singapore website. Once you submit this form, a Loans Specialist from the bank will contact you within the next business day.
- If you require any assistance from the bank with respect to the loan, any further information on the terms and conditions and on the available packages, you can fill in the Customer Assistance Form that is available on the official UOB Singapore website with the requested details and a representative from the bank will get in touch with you soon to clarify any and all doubts regarding the UOB Property Equity Financing and application procedure.
- You can visit your nearest UOB bank branch and talk to a Home Loans Specialist and apply for the UOB Property Equity Financing directly in person.