Faster Gift Redemption
UOB Personal loans are easy to apply if you are a UOB customer. Enjoy instant approval if you apply online during business hours of 8am-9pm. It might not have the best rates in town but it's 3.88% for all loan amount and tenure!
Interest Rate*
Total Amount Payable
Processing Fee
MoneySmart Exclusive

[Faster Gift Redemption]
Get up to S$350 Cash via PayNow or an ErgoTune Supreme V3 Ergonomic Chair (worth S$599) AND up to 2.2% Unlimited Cash Rebate from UOB.

Additionally, new-to-UOB CashPlus Customers can enjoy an extra S$100 rebateT&Cs apply.

Valid until 30 Sep 2023 - See more details below

Are you eligible?

    • Promotion is valid from 22-September-2023 till 30-September-2023

    • Customers must apply through MoneySmart to be eligible

What you need to know

  1. Log into your MoneySmart account and submit your claim by 30th October 2023

  2. Receive your rewards when you get approved for a min. loan amount of S$10,000 with a tenure of 1 to 5 years. T&Cs apply.

  3. S$10,000 to S$15,000 Loan Size:
    Incentive : S$100 Cash via PayNow AND Up to S$263.50 Cashback from UOB

  4. S$15,001 to S$20,000 Loan Size:
    Incentive : S$150 Cash via PayNow AND Up to S$318 Cashback from UOB

  5. S$20,001 to S$30,000 Loan Size:
    Incentive : S$250 Cash via PayNow OR Apple iPad 10.2-inch Wi-Fi 64GB 9th Gen (worth S$503.65) AND Up to S$427 Cashback from UOB

  6. S$30,001 to S$49,999 Loan Size:
    Incentive : S$300 Cash via PayNow OR Sony WH-1000XM5 Wireless Noise Cancelling Headphones (worth S$575) AND Up to S$799 Cashback from UOB

  7. S$50,000 and above Loan Size:
    Incentive : S$350 Cash via PayNow OR ErgoTune Supreme V3 Ergonomic Chair (worth S$599) AND Unlimited Cashback from UOB from S$800 onwards.

  8. Receive your gift as fast as 3 months from end of promotion

  9. CashPlus is a personal unsecured line of credit that comes with an ATM card, a cheque book, UOB Personal Internet Banking and CashPlus Visa Card, for customers to gain access to extra cash on the assigned credit limit.

Claim Form

Quick Facts

Best For

Cashback promotion

Loan Approval Time

Instant approval (if you have a UOB credit card & apply between 8am and 9pm)

Loan Disbursement

Instant cash disbursement

Guaranteed Interest Rate?


Expert Tips

You will need to have a UOB credit card/cashplus to apply for a UOB personal loan. If not, you can apply for UOB card + personal loan together in one form at MoneySmart, but it will take a longer time to process.

All Details

Disclaimer: At, we strive to keep our information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. All financial products and services are presented without warranty. Additionally, this site may be compensated through third party advertisers. However, the results of our comparison tools which are not marked as sponsored are always based on objective analysis first.

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UOB Personal Loan Review 2023

With total assets of over S$500 million (as per its latest 3Q 2022 annual report), United Overseas Bank Limited (UOB) is one of the renowned banks in Singapore that provides personal loans to Singapore citizens, PRs and foreigners. The UOB Personal Loan offers competitive interest rates that are being advertised as 3.4% p.a (EIR from 6.36% p.a.) as of 29 December 2022, with an ongoing promotion (ends on 31 December 2022) that gives you cash rebates of up to S$3,288, or 2.5% of your approved loan amount and a tenor of 2,3,4 or 5 years.

In this review, we’ll share the highlights of taking up a UOB Personal Loan, and do a quick comparison with some of its closest competitors.

Pros & Cons


  • Instant loan approval and cash disbursement for online applications
  • Convenient online application with SingPass for quicker application
  • Competitive interest rates
  • Waiver of processing fees (for 24 - 60 months tenure)
  • Open to Singapore Citizens, PRs with a Singapore Employment Pass aged 21 to 65
  • Minimum annual income of $30,000 for Singaporeans and PRs
  • Flexibility of choosing repayment loan tenor (1 year - 5 years)


  • Need to be existing UOB Credit Card/CashPlus customer
  • Not available to foreigners with a Singapore Employment Pass

UOB Personal Loan Requirements 2023

Singapore Citizens or Permanent Residents (PRs) are eligible to apply for the UOB Personal Loan, as long as you’re aged 21 to 65. However, this loan is not available to foreigners. As the minimum annual income requirements are $30,000 for Singaporeans and PRs, Singaporeans and PRs with lower annual salaries, especially those earning less than $30,000 per year will not be eligible for this loan. In addition, you’ll have to be an existing UOB Credit Card/CashPlus customer to apply for this loan which can be done with your SingPass MyInfo details. A copy of your NRIC (front and back), your latest computerised payslip or latest 6 months’ CPF Contribution History Statement will be required for this loan application, so remember to have it on hand prior to the online application. For those who are keen on applying for a higher loan amount, you’ll need to prepare your latest Income Tax Notice of Assessment (NOA) as well.

UOB Personal Loan Interest Rates & Fees

UOB is among the handful of banks which do not charge any processing fees or initial annual fees. However, this is provided that your loan tenure is between 24 months and 60 months.

Currently, UOB’s offer of a 3.4% p.a annum interest rate on their personal loans comes with an Effective Interest Rate (EIR) that is estimated to be at 6.36% p.a. or higher, depending on your loan tenure.

The EIR is essentially the actual interest rate you’ll be paying as a percentage of your UOB Personal Loan. So, if you’re looking for a more attractive EIR when comparing personal loans, you may wish to use a platform like MoneySmart’s Personal Loans comparison tool, to save you some research time.

Considering that S$1,000 is the minimum amount you can borrow with this UOB Personal Loan, it seems pretty manageable to take on this loan. The maximum loan amount will really depend on your monthly income. To make this easier to understand, let’s use an example.

For instance, if you take on a loan of $10,000 with a 3-year loan tenure, and you’re drawing an annual income of $30,000, you’ll be paying about: $11,020 – $10,000 = $1,020 of interest

However, this is purely for illustration’s sake. Not every customer’s payable interest is the same as interest rates are personalised, so the rate that UOB proposes to you might differ from this example.

Compare UOB Personal Loan Interest Rates & Fees

Loan tenure of 1 yearLoan tenure of 2 yearsLoan tenure of 3 years
3.48% interest fee3.48% interest fee3.48% interest fee
1% processing feeNo processing feeNo processing fee
8.03% EIR6.40% EIR6.42% EIR
$862 monthly instalment$445 monthly instalment$306 monthly instalment

UOB Personal Loan Application

Before you start applying for the UOB Personal Loan or any other personal loans, it’s important to plan your finances well and only take up a manageable loan amount that you can afford to pay off in monthly instalments, and consider the other costs involved such as Effective Interest Rate (EIR), processing fees, annual fees, vice versa. Here are 3 simple steps to apply for the UOB Personal Loan:

Step 1

Apply via MoneySmart’s Personal Loans page

Simply start your application by clicking on our UOB Personal Loan application link. The application can be done online with your SingPass MyInfo account details. Once you’ve entered the required information, UOB will pull your identity and income data from SingPass (which is already verified), which shortens the processing time. You can expect the approval-in-principle page to appear within minutes of submitting your MyInfo details.

Step 2

Get all required documentation ready

Next, prepare all the necessary documentation that is needed for UOB to approve your personal loan application. The list of documents include:

  • NRIC or other identification details
  • Latest computerised payslip
  • Latest 6 months’ CPF Contribution History Statement
  • Latest Income Tax Notice of Assessment (NOA) if you wish to be considered for a higher loan amount

Step 3

Look out for your instant loan disbursement

The loan disbursement will be completed instantly upon UOB’s approval of your online application.

Compare UOB personal loan vs SCB CashOne vs HSBC personal loan

There is a wide variety of personal loans in the market nowadays, so there are other types of popular personal loans like the Standard Chartered CashOne and HSBC personal loan other than this UOB personal loan. As you compare the different interest rates and benefits of the many personal loan options available on MoneySmart’s online personal loan wizard, you’ll be able to make a better decision.

Interest rates, annual fees, minimum annual income requirements and loan disbursement speed are usually the main factors which we’ll look at. As you compare across the 3 personal loans, SCB CashOne seems to have the highest interest rate of 3.48%, plus an initial annual fee of $199. This makes UOB personal loan which offers 3.4% a more attractive option as it has a lower interest rate and no annual fee charges. In addition, UOB personal loan has a faster disbursement time as compared to the HSBC personal loan.

However, if you’re earning a lower minimum annual income requirement of $20,000, SCB CashOne may be a more viable choice for you as HSBC personal loan and UOB personal have a higher minimum annual income requirement of $30,000 for Singaporeans and PRs.

UOB personal loan vs SCB CashOne vs HSBC personal loan Comparison

UOB Personal LoanHSBC Personal LoanSCB CashOne
Interest rate: 3.4%Interest rate: 3.2%Interest rate: 3.48%
Annual fee: NoneAnnual fee: NoneAnnual fee: $199 for Year 1 (None from Year 2 onwards)
Minimum annual income:
$30,000 for Singaporeans and PRs Foreigners are not eligible to apply.
Minimum annual income:
$30,000 for Singaporeans and PRs $40,000 for foreigners
Minimum annual income:
$20,000 for Singaporeans and PRs $60,000 for foreigners
Loan disbursement speed:
Within 1 day (if you have a UOB credit card and apply between 8am and 9pm)
Loan disbursement speed:
3 to 5 business days
Loan disbursement speed:
15 minutes

Frequently Asked Questions

What are the annual fee and processing fees payable if I take up the UOB loan?

UOB does not charge any annual fee or processing fees.

How do I apply for the UOB Personal Loan?

You can apply for the UOB Personal Loan in 3 simple steps. 1. Click “Apply Now” on the UOB Personal Loan option on MoneySmart’s Personal Loans page 2. Provide your NRIC or other identification details, latest computerised payslip, latest 6 months’ CPF Contribution History Statement, and latest Income Tax Notice of Assessment (NOA) if you wish to be considered for a higher loan amount 3. Receive your loan disbursement instantly.

Am I eligible for the UOB Personal Loan?

If you’re a Singapore Citizen, Permanent Resident (PR), you’re eligible to apply for the UOB Personal Loan, as long as you’re aged 21 to 65, and earn a minimum annual income of $30,000. Foreigners with valid Singapore Employment Passes are not eligible for this loan at the moment.

Are there any penalties for late payments of my monthly instalment?

Late payment charge is S$60 and the late payment interest of 24% per annum is applicable too, although subject to a minimum of S$20 (if your annual income is S$20,000 – S$29,999). The late payment interest will be 4% per annum over the interest rate applicable to your loan, if your annual income is above S$30,000.

When will I receive the approved loan amount in my bank account?

Your application will be reviewed by UOB upon submission. If your application is done online, you’ll receive your loan amount instantly upon approval of your loan.