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    UOB Personal Loan

    We found 1 UOB Personal Loan

    Bank Name
    Interest Rate
    Loan Tenure
    Joining Perks
    From 8% p.a. EIR from 14.94%
    1-5 Years
    What you'll love
    What you need
    What you need to consider
    What it costs

    UOB Personal Loan

    Personal Loan BYTES FROM OUR KITCHEN

    UOB Personal Loan

    A personal loan is the amount that one borrows to meet current financial requirements. There is no security required against it, hence, it is also known as unsecured loan. Getting a personal loan is easy in today’s world. United Overseas Bank or UOB is one of the top banks in Singapore that offers such a loan. The personal loan, offered by this bank, comes with immense flexibility and innovation. With affordable rates of interest and long tenure to repay the amount, this can definitely be the personal loan solution that you have been looking for.


     

    You’re probably eligible for a UOB Bank Personal Loan if you are

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    UOB Bank Personal Loan Minimum Age

    Atleast 21 years

     UOB Bank Personal LoanMaximum Age

    Less than 60 Years

     UOB Bank Personal Loan Eligible Employment Type

    Salaried or self-employed
    with regular income

     UOB Bank Personal Loan Minimum Income

    Earn more than the minimum
    income required


     

    Your UOB Bank Personal Loan amount eligibility is based on these factors

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     UOB Bank Personal Loan Minimum Salary

    Minimum income required
    annual income of S$30,000

     UOB Bank Personal Loan Maximum Loan Funded

    No Info

     UOB Bank Personal Loan EMI

    EMIs of other loans lower your eligibility


     

    Increase your eligible UOB Bank Personal Loan amount by these steps

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     UOB Bank Personal Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

     UOB Bank Personal Loan Tenure

    Choose longer tenure loan up to 5 Years


     

    Documentation needed to apply for an UOB Bank Personal Loan

    • 1.Photocopy of NRIC
    • 2. Salaried Employee:
      • Latest Computerized Payslip OR
      • CPF Contribution Statement for past 12 months OR
      • Latest Income Tax Notice of Assessment (NOA)
    • 3. Variable Income/Commission Based Earner:
      • Latest 6 months Computerized Payslip OR
      • CPF Contribution Statement for past 12 months OR
      • Latest Income Tax Notice of Assessment (NOA)
    • 4. Self-Employed:
      • Income Tax Notices of Assessment (NOA) for past 2 years
    • 5.Any other documents as may be requested by the Bank at its sole discretion

     

    UOB Bank Personal Loan DetailsUpdated on 24 Apr 2017

    UOB Bank Personal Loan Details
    Interest Rate 8.00% p.a
    Min Loan Amount S$1,000
    Minimum Income S$30,000 p.a
    Tenure 1 - 5 Years
    Processing fee 1.80%
    EIR 17.94% p.a

     

    Features and Benefits of UOB Personal Loan:

    The United Overseas Bank Personal Loan comes with several features and benefits that can prove to be extremely useful to you. They are as follows:

    • The daily repayments are affordable since they can be as low as S$0.80.
    • Enjoy greater control of your cash.
    • You can choose a tenure that ranges between 12 months and 60 months.
    • Enjoy instant approval when you apply at the participating branches.
    • The online application for UOB Personal Loan is quick and hassle free. No documents are required during this process.

    Rates and Tenures:

    Loan Tenure Processing Fee Flat Rates (per annum) Effective Interest Rates (per annum)
    12 months 1.8 % 8.00 % 17.94 %
    24 months 16.54 %
    36 months 15.84 %
    48 months 15.34 %
    60 months 14.94 %

    Loan Calculator:

    The loan calculator is an extremely user friendly tool that helps you to calculate your monthly payments towards the repayment of the loan. All you need to do is enter the loan amount and the loan tenure in the respective boxes of the calculator and then press ‘calculate’.

    UOB CashPlus Personal Loan:

    With UOB CashPlus Personal Loan, you can enjoy fixed repayment for the borrowed amount. The entire amount can be availed by you at the right from the start. The tenure that you can choose for repayment of your personal loan can go up to a maximum of 60 months. The minimum amount that must be borrowed with CashPlus Personal Loan is determined by the bank. The amount of loan you can take must not be more than 98% of the credit limit that is available on your UOB CashPlus account. This includes the processing fee too, if applicable. In case the loan amount has been approved, the CashPlus account credit limit will decrease. The rate of interest is fixed throughout the entire tenure.

    If the outstanding loan amount is prepaid by you, then a cancellation fee will be charged. This cancellation fee is 3% of that outstanding balance or S$150, whichever is higher. In case you wish to close your account, you must give United Overseas Bank a notice period of 30 days. The same notice period must be provided when you intend to fully prepay the CashPlus Personal Loan.

    UOB Credit Card Personal Loan:

    Personal loans can be taken using the UOB credit cards. The minimum amount that must be borrowed with the Credit Card Personal Loan scheme is determined by the bank. Cards that cannot be used to avail the Credit Card Personal Loan scheme are UOB Corporate Cards, UOB Purchasing Cards and the UOB Private Label Cards. The loan amount that gets approved by the bank will not be more than the credit limit that you avail with your United Overseas Bank credit card account. One time processing fee is applicable on UOB Credit Card Personal Loan.

    The EIR or Effective Interest Rate is the actual interest incurred for making use of the Credit Card Personal Loan. The way the money is repaid and the total charges are also taken into account. Prevailing rates of interest shall apply thereafter. If the outstanding loan amount is prepaid by you, then a cancellation fee will be charged. This cancellation fee is 3% of that outstanding balance or S$150, whichever is higher. In case you wish to close your account, you must give United Overseas Bank a notice period of 30 days. The same notice period must be provided when you intend to fully prepay the Credit Card Personal Loan.

    How to apply?

    There are different ways to apply for UOB Personal Loan. They are as follows:

    • You can walk into a nearby branch and apply for the personal loan.
    • You can fill up the online form to apply for the loan.

    Bottom line:

    If you own a credit card offered by United Overseas Bank, you can easily go for the Credit Card Personal Loan. If you are looking for a personal loan with fixed repayment option, the CashPlus Personal Loan can definitely prove to be of great worth. All you need to do is fill up the online form that is available on the official website of the bank to apply for these loan schemes. You can also talk to a representative of the bank at any UOB branch.

    Promotions are extremely lucrative and beneficial for the customers.

    With an approved loan amount of S$ 10,000 you can earn gift vouchers from Dairy Farm worth S$ 200. With an approved loan of S$ 5,000 you are entitled to earn Dairy Farm vouchers worth S$ 80.

    Keep an eye out for such promotional offers or contact the bank for more information.

    The actual rate of interest depends on the tenor chosen and loan amount. Effective interest rates has been broken down product wise in the product specific details explained in the sections above.

      1. What are the different tenor options available with UOB Personal Loan?

    The tenor options are 12, 24, 36, 48 and 60 months. For loan amount below S$10,000, the tenor options are 12, 24 and 36 months for new UOB cash plus customers.

      1. Is there a minimum annual income requirement to be eligible for a Personal Loan?

    To qualify for a Personal Loan from UOB, the applicant should have a min. annual income of S$30,000.

      1. Is there a prepayment penalty levied by UOB on pre closures of the Personal Loan account?

    The bank levies a fee of S$100 towards preclosure of personal loans. This fee is applicable for both Cash Plus and Cards loan products.

      1. Is there a Guarantor required as a security at the time of application?

    There is no security required for a personal loan from UOB.

      1. How much is the processing fee percentage?

    For loan amount less than S$10,000, the processing fee percentage is 1.8% of the approved loan amount and 1.5% for amount exceeding this limit.

    News About UOB Personal Loan

    • UOB Introduces KidSmart Programme For Understanding Children’s Talents

      The United Overseas Bank (UOB) has initiated the UOB KidSmart Programme to assist parents in exploring and cultivating their children’s talents. This scheme aims to achieve its goal by applying the MIDAS (Multiple Intelligences Developmental Scales) aptitude evaluation tool.

      According to UOB, parents can start preparing for their child’s future early if their child’s real talent is known. When a child’s aspirations are discovered, a parent can invest in relevant financial plans accurately.

      This programme was introduced as data from The UOB Understanding Young Families Survey showed that nearly all parents who took the survey considered it important to find out their children’s natural abilities for a successful career.

      The top officials of UOB hold that this project is well-timed because jobs are giving more prominence to aspects such as creativity and critical thinking solutions.

      10th November 2016

       
    • Fintechs and Banks collaborate

      The collaboration between the financial technology firms and banks can play a huge part in mending the small company funding. Two leading banks of Singapore, United Overseas Bank and DBS Bank has tied up with fintechs in order to help the smaller organisations. Their use of new technology for reaching out to the SME (Small and Medium-Sized Enterprises) section has taken a step ahead of their competitors.

      A study suggests that in Singapore, approximately 60 percent of the SMEs depend on loans offered by banks for financing. The representative of DBS Bank stated that they have more than two hundred Small and Medium-Sized Enterprises in the loan pipeline.

      09th May 2016

       
    • Volunteers and UOB Staff Cooked meals for 5,000 people in need

      On 3 Feb, 2016, 60 staff members of UOB along with other volunteers cooked and distributed meals for the elderly and needy at Willing Hearts' soup kitchen. They cooked 5,000 meals in total and the staff members of UOB included many of the senior managers of the bank. The other volunteers included around 30 businessmen from Singapore. These volunteers spend around 6 hours for cooking the food at the Soup Kitchen that is located at Jalan Ubi, Geylang. Some of the clients of UOB also participated in this noble activity organized by the bank.

      04th February 2016

       
    • The First Visa Token Service in Asia Pacific Rolled Out By UOB

      UOB becomes the first bank in the Asia Pacific region to roll out the Token Service powered by Visa. It is a new technology that offers enhanced security by replacing sensitive information related to the cards that are used for making payments (debit cards credit cards etc.) such as the expiration date, security code and 16 digit with a ‘token’ or a unique digital identifier. This token can then be used to process payments without revealing the details about the card account.

      The customers of UOB can use the Visa Token Service with the help of the Mighty app from UOB. UOB visa cardholders can use this app for making payments with their Android smartphones that are NFC-enabled.

      14th December 2015

       
    • UOB Refer a Friend Promotion

      Now, you can get rewarded for referring your friends to United Overseas Bank. If they apply for the loan products offered by UOB, you can get up to SGD 1,000 as gifts for each referral. You should be an existing customer of UOB to be eligible for this offer and you will only need to submit your friends’ contact number to UOB, in order to refer them. Here is a brief illustration of the rewards that you can get as referral bonus:

      • For approved loan amounts of less than SGD 1 million, you will get SGD 300 worth NETS FlashPay Card from UOB.

      • For approved loan amounts of SGD 1 million to SGD less than SGD 3 million, you will get SGD 750 worth NETS FlashPay Card from UOB.

      • For approved loan amounts of SGD 3 million or more, you will get SGD 1,000 worth NETS FlashPay Card from UOB.

       
    • UOB CashPlus Personal Loan Promotion

      Apply for UOB CashPlus today and enjoy very low interest rates for a limited period of time. In fact, you will be offered very competitive and comparatively low rates. The processing fee for the loan will be as low as 1.5 percent. For a minimum approved loan amount of SGD 10,000, the interest rates, processing fee and tenure that you can avail are as follows:

      • Interest rate of 10.61 percent for a tenure of 12 months, with no processing fee

      • Interest rate of 9.46 percent for a tenure of 24 months, with a processing fee of 1.5 percent and a flat rate of 4.25 percent

      • Interest rate of 8.99 percent for a tenure of 36 months, with no processing fee

      If you are one of the initial 300 approved customers for UOB Personal Loan, you will enjoy SGD 160 worth of dining vouchers or SGD 500 worth staycation from the bank.

      • With a minimum approved loan amount of SGD 8,000 you will get SGD 160 worth of dining vouchers for Marriott Café.

      • With a minimum approved loan amount of SGD 15,000 you will get SGD 500 worth of stay in a Deluxe Room at Pan Pacific Singapore.

      Please contact the bank to learn about the applicable terms and conditions for these promotions.

       
    • United Overseas Bank Donated $16.6 million To Charities

      The United Overseas Bank (UOB) donated $16.6 million to various Charities in Singapore as part of its Corporate Social Responsibility (CSR) initiatives and to celebrate the 80th birthday of its inception on 11 Dec, 2015. UOB is one of the local banks in Singapore and is also one of the biggest banks in the world with assets worth billions of dollars. The money was divided among local charitable organisations in the Lion City that support children, the elderly and people with special needs.

      The bank announced that the Lion’s share of the amount ($11.8 million) will be donated to the Community Chest for helping people with disabilities, and the Care and Share Movement will receive $2 million and this amount will then be disbursed to those voluntary organisations that work for the welfare of the elderly. The rest of the amount will be donated to the PAP Community Foundation along with other organisations that support art, education and welfare of the children. This amount of $16.6 million will be an addition to the $3.57 million that the bank already donated earlier in 2015 to the Community Chest.

      UOB further announced that its combined donation of $17.37 million which was given to the Care and Share Movement and Community Chest is the highest amount donated by any private donor in 2015.

      14th December 2015

       
    • Banks target millennials for premium services

      Wealth managers plan to target professionals while they are young in a hope that they will eventually start using the premium banking services when there is a development in their careers. These professionals as also called the mass affluent who earn more than S$6000 per month.

      According to banks, this mass affluent segment is growing fast in the developing markets. Charles Wong, Citibank’s Retail Banking Head said that this group of customers generally fall between an age group of 25 and 40 years and are upwardly mobile and well- educated. He also said that customers will get exclusive invites for events which are specially designed for them.

      Citibank has converted a lot of its Citigold customers who have an AUM of SGD 2, 00, 000 and more from ordinary banking to primary banking customers. UOB is targeting people who possess SGD 1, 00, 000 to SGD 3, 50, 000 worth invisible assets. OCBC is focused on customers who have more than SGD 2, 00, 000 AUM while DBS Treasures is concentrating on people with at least SGD 3, 50, 000 AUM.

      UOB is one of the first banks to start this service having around 50,000 customers today. According to the Personal Finance Services Head of UOB, Dennis Khoo, young professionals have a very high potential to earn but they do not have that many assets, which makes it difficult for them to take help from the relationship manager. He says that their concerns are mainly focused around lifestyle.

      Even in the present volatile market, Singapore banks are trying to grow their businesses and OCBC, UOB and DBS, all have earned money in the first half of this year in their wealth management sector.

      02nd October 2015

       
    • UOB plans to boost their manpower

      United Overseas Bank intends to increase the number of relationship managers before the year ends. The head of UOB’s private banking sector said they aim at making more profits in this lucrative market. The number of relationship managers would go up from 50 to 100, providing better service to their customers.

      24th September 2015

       
    • Personal Banking Website Revamped By UOB

      UOB, one of the largest banking groups in Singapore, has revamped its personal banking website to make it more user-friendly and easily accessible. The 1.55 million users of the website will now be able to transfer funds and pay their bills 20% quicker than before. The bank revealed that more than 85% of its customers use its online banking portal and a large percentage of them access this portal on their mobile devices. The revamped version of the website will feature a layout which has been simplified and the customers will find it easier to navigate through the website.

      UOB offers a variety of useful features to the customers through its personal banking website and the customers can perform several banking operations easily by accessing this website. The new website has been designed in such a manner that that the financial and banking functions/ services have been grouped into different categories that are frequently used.

      The users can now access these services and functions faster than before and complete their transactions without any difficulty. They will also be able to easily manage their account and view their finances with the bank. Apart from that, the customers can access information about unit trusts or foreign exchange rates with the help of the sidebar tools available on the website.

      12th August 2015

       
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