Updated January 2, 2023
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Disclaimer
Terms & Conditions
Annual Interest Rate
Minimum Loan Amount
Processing Fee
When it comes to personal loans, there are plenty of options to choose from, however, the personal loan provided by UOB
isn’t the cheapest. Currently, the bank offers an interest rate of 3.4% p.a with an EIR of 6.36%. EIR stands for
effective interest rate, it is different from the normal interest rate. For example, a personal loan from lenders
usually has some concealed fees. For UOB it is somewhere between 0 and 1% for an annual loan.
Borrowers should keep in mind that UOB charges 2% processing fees. You are advised as a borrower to make calculated
plans for the loan repayment because the bank also charges 3% or $150 of the outstanding loan fee for early repayments.
Planning repayments will save you from extra fees and the general cost of the loan.
| Loan Duration | Fiat Rate | Fee | EIR | Total Cost | Monthly Payment |
| 1 Year | 3.4% | $0 | 6.22% | S$10,340 | S$862 |
| 2 Year | 3.4% | $0 | 6.22% | S$10,689 | S$445 |
| 3 Year | 3.4% | $0 | 6.22% | S$11,020 | S$306 |
| 4 Year | 3.4% | $0 | 6.22% | S$11,360 | S$237 |
| 5 Year | 3.4% | $0 | 6.22% | S$11,700 | S$195 |
*Loan Amount Example S$10,000
Firstly, to be qualified for a UOB personal loan, you need to be a Singaporean or Permanent Resident. Note that for a
majority of lenders, loans are only approved for applicants of the age of 21 years or above and with a minimum of
$30,000 annual income. Nevertheless, another requirement is not publicly available. The loan range also depends on the
borrowers’ credit limit wherefore the bank only offers loan amounts from S$1,000 to 95% of their credit limit.
Begin your loan application by clicking on the UOB link.
For a loan, the following documents are required
Your cash will be disbursed once you’re application has been processed and approved. Usually within 1 business
day.
Repayments starting from 1 to 5 years
Usually between working hours and business day
No need to submit documents if your an existing banking customer
Loan repayments are capped at a maximum of 5 years
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