UOB offers an array of personal finance products to meet your financial needs. The UOB Personal Loan, in particular, offers a flat interest rate of 3.4% per annum over a repayment term of 1 - 5 years. What’s more, the UOB Personal Loan in Singapore comes with no processing fees and a quick cash disbursement turnaround period.
Discover the basics of a personal loan from UOB including fees involved and pros and cons to weigh.
3.4%
EIR: 6.36%
Interest Rate From
Up to 95% of your available credit limit
Maximum Loan Amount
1 - 5 years
Loan Tenure
| Special Offer | Receive up to $1,500 cashback if you apply for a loan of at least $20,000. You’ll need to choose a loan term of between two and five years. Other T&Cs apply. This time-limited deal ends on 31 August 2022. |
|---|---|
| Interest Rate From | 3.4% EIR: 6.36% |
| Minimum Loan Amount | $1,000 |
| Maximum Loan Amount | Up to 95% of your available credit limit |
| Loan Tenure | 1 - 5 years |
| Approval Duration | Instant approval |
| More Info |
Your UOB Personal Loan may generally be put to a wide range of uses. Loans start at $1,000 while loan repayment terms range from 1 - 5 years. Unlike standard banks that offer loans of up to 80% of your credit limit, UOB offers up to 95% of your credit limit as long as you’re a UOB customer.
The fees you could encounter with a UOB Personal Loan ultimately depends on your income, borrowing amount, repayment scheme and loan type. In general, you may encounter:
| UOB Personal Loan tenure (months) | Effective interest rates (% p.a.) |
|---|---|
| 12 | 8.03 |
| 24 | 6.40 |
| 36 | 6.42 |
| 48 | 6.40 |
| 60 | 6.36 |
In light of these charges, make sure you read your loan terms carefully so that you know exactly which types of fees you may be liable for. For a comprehensive list of potential costs, refer to our breakdown of personal loan fees here.
As a personal loan, the UOB Personal Loan involves a fixed borrowing amount, repayment term and monthly instalments.
UOB Cash Plus, on the other hand, is a standby line of credit. This means that you’ll only be charged interest on the amount you use. Just like a credit card, this interest may be repaid each month. Alternatively, you could roll over part of this sum to the subsequent month’s payment.
Ultimately, whether you should choose a UOB Personal Loan or UOB Cash Plus depends on your borrowing needs and preferred repayment terms. These are two different types of financial products, so they naturally come with unique fees, borrowing amounts and loan terms. Consider your reason for borrowing before choosing between these two options.
Existing UOB credit card or CashPlus customers can apply online on via UOB’s website. Click Go to site on this page to kickstart your application.
New customers need to simultaneously apply for either a UOB credit card or a CashPlus account along with a UOB Personal Loan. UOB allows you to do so online on their website. Before signing up, check through the stated eligibility requirements to ensure that you may apply for your desired loan.
UOB Personal Loan eligibility requirements are as follows.Additionally, you should have the following documents on hand when filling up the application.
Documents Required:
Documents Required:
Documents Required:
