Are you a UOB customer in Singapore? If yes, consider getting a UOB Personal Loan, as it is one of the cheapest unsecured loans in Singapore. You may use the funds for your dream vacation, pay unexpected expenses, or consolidate debt.
It’s a popular personal loan option in Singapore, as borrowers like you can enjoy quick approval if you submit your application online.
FAST FACTS
✔️ Instant loan approval
✔️ Quick cash disbursement
✔️ Lowest interest rate
✔️ Best cashback promotion
UOB Personal Loan Singapore
UOB Personal Loan is not as competitive as the other bank loans. But it does offer a low-interest rate of 3.77% for all loan tenure and amount. Making it the cheapest personal loan in Singapore.
| Details | Singaporeans/ PRs |
| Interest Rate | 3.77% |
| EIR | 6.89% |
| Maximum Loan Amount | S$80,000 above |
| Minimum Loan Amount | S$5,000 |
| Minimum Annual Income | S$30,000 |
| Loan Tenure | 1-5 years |
UOB Personal Loan Interest Rates
| Loan tenor | Flat interest rate (p.a.) | Effective interest rate (p.a.) |
| 12 months | 3.77% | 6.89% |
| 24 months | 3.99% | 7.48% |
| 36 months | 3.99% | 7.49% |
| 48 months | 3.99% | 7.46% |
| 60 months | 3.99% | 7.40% |
Other Fees & Charges
- Processing Fee: S$0% (waived for 3 to 5 years)
- Late Payment Fee: S$100
- Cancellation Fee: $150
- Total Repayment Penalty: S$150 or 3% outstanding loan amount
Approved loan applicants can acquire up to 2.2% unlimited cash rebates to their approved amount.
What are the eligibility requirements for getting a UOB personal loan?
To qualify for a personal loan with UOB, you must be at least 21 and 65 years old and be a UOB Credit Card/CashPlus customer. You should also earn a minimum yearly income of S$30,000 for Singaporeans and PRs.
- Age: 21 to 65 years old
- Minimum annual income: S$30,000
- Citizenship: Singaporeans and PRs only
- Existing CashPlus Account Holders and UOB Credit Card Owners
Documents you have to provide are:
- NRIC copy (front and back)
- Proof of income, such as the most current 12 months CPF contribution and history statement, computerised payslips, or latest income Tax Notice of Assessment
- Proof of residency
How to apply for a UOB Personal Loan in Singapore?
You must apply for this loan as a UOB credit card holder or CashPlus customer. You can follow these steps:
- Online Application: Complete the online application form and visit the UOB’s official personal loan website.
- Submit Relevant Documents: Upload all required documents, as mentioned above.
- Please wait for Approval Notification: Once you’ve submitted the form and relevant documents, UOB will assess your application and notify you whether it’s approved. The process of approval usually takes a few business days.
- Receive Loan Funds: If your personal loan’s approved, UOB shall disburse the funds to the bank account you’ve included in the form.
Once you do, click here to apply. Upon submitting your application through UOB’s official website, you can expect fast loan approval.
Frequently Asked Questions:
Can a foreigner get a personal loan from UOB in Singapore?
The answer to that question is NO. UOB Personal Loan is only made available to Singaporeans and Permanent Residents. But, other financial institutions offer personal loans to foreigners.
You should look into the following banks Citibank, HSBC, OCBC, and Standard Chartered. If you’re a foreigner seeking a personal loan, you may apply from licensed moneylenders in the country, such as Accredit.
Is it easy to get my UOB Personal Loan approved?
If you use SingPass MyInfo to apply for a loan, it will be much easier for the bank to approve your loan request. SingPass has all the essential information a lender needs to examine your finances.
In addition, to guarantee your success in getting a loan, you have the following factors:
- Excellent Credit Score
- Good Employment History
- Maintained Income-To-Debt Ratio
- Stable Source of Income
How long does it take for UOB personal loans to get approved?
Suppose you are a UOB Credit Card Owner and CashPlus Account Holder. In that case, you can expect instant loan approval and cash disbursement with UOB personal loan.
For the most efficient processing of your loan application, aim to submit it during the bank’s operating hours, between 8:00 am and 9:00 pm.
How to check the status of a UOB personal loan?
It is simple to check your loan status with UOB customer service. You can contact them by dialling 1800 222 2121. But if you are calling from outside Singapore, dial (65) 6222 2121.
How to pay my UOB Personal Loan in Singapore?
The following is a list of UOB Personal Loan repayment methods through which you can make your payments.
- UOB Phone Banking/ATM: You can pay the personal loan by dialling the bank at 1800 22 22 121. But if you are near one of the branches of UOB, you can pay using their ATM.
- Cash: You can pay your loan by visiting the nearest UOB branches. And you have to wait one business day for your loan account to update your transaction.
- Bank Transfer: Repaying your loan through bank transfer is another convenient option. However, it’s worth noting that any transfer made after 10 pm or on a non-working day will be recorded on the next working day.
- Cheque: You can drop off a cheque at any of the UOB branches to make your loan repayment. So long as you provide that, you place your loan account number and payment at the back of the cheque.
Final Thoughts
These are the relevant details you need to know about UOB personal loans. Some monetary problems could indeed arise in the most unexpected moments. Getting a personal loan from UOB can relieve your financial issues.
But, by any chance, you didn’t get to fulfil the criteria; you can obtain the assistance you need from licensed moneylenders like Accredit.
Accredit commits to providing the highest lending practices to ensure you fair, ethical, and transparent monetary solutions. Trust that Accredit can provide an excellent, quick, and easy personal loan alternative. Click here to apply for a personal loan now!
