UOB Personal Loan
UOB Personal Loan
- From 2.88% p.a.
- Interest Rate*
- S$10,288
- Total Amount Payable
- S$0
- Processing Fee
[FASTEST GIFT FULFILMENT - AS FAST AS 4 WEEKS*]
Get attractive gifts like an Apple iPhone 16 Plus, 128GB (worth S$1,399) or the LATEST Apple 11-inch iPad Air, 128GB (worth S$899) or an Apple Watch Series 10 (GPS), 42mm (worth S$599) or an Apple iPad 10th Gen, 64GB (worth S$499) or up to S$1,200 Cash via PayNow, in AS FAST AS 4 WEEKS, when you apply for UOB Loan. T&Cs apply.
Are you eligible?
Promotion is valid from 09-May-2025 till 31-May-2025
Customers must apply through MoneySmart to be eligible
Log into your MoneySmart account and submit your claim by 7th June 2025
What you need to know
*FASTEST GIFT FULFILMENT: Please note that gift will be fulfilled as fast as 4 weeks* after the end of the campaign period (31 May 2025).
Receive your rewards when you get approved for a min. loan amount of S$8,000 with a tenure of 1 to 5 years. T&Cs apply.
S$8,000 to S$9,999 Loan Size:
Incentive : S$120 Cash via PayNowS$10,000 to S$14,999 Loan Size:
Incentive : S$180 Cash via PayNowS$15,000 to S$19,999 Loan Size:
S$300 Cash via PayNow or Apple AirPods Pro 2nd Gen (worth S$349)S$20,000 to S$29,999 Loan Size:
S$400 Cash via PayNow OR Apple iPad 10.9-inch 10th Gen, Wi-Fi, 64GB (worth S$499)S$30,000 to S$49,999 Loan Size:
S$600 Cash via PayNow OR Apple Watch Series 10 GPS, 42mm (worth S$599)S$50,000 to S$79,999 Loan Size:
S$800 Cash via PayNow OR Apple 11-inch iPad Air Wi-Fi 128GB (worth S$899)S$80,000 and above Loan Size:
S$1,200 Cash via PayNow OR Apple iPhone 16 Plus 128GB (worth S$1,399)* Enjoy Affordable Interest Rates from 2.88% p.a. (EIR from 5.43% p.a.)
All Details
Disclaimer: At MoneySmart.sg, 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.
UOB Personal Loan Benefits 2025
Read on to learn more about the UOB Personal Loan, its requirements, and compare it against its closest competitors.
Pros & Cons of UOB Personal Loan
Pros ✅
- Competitive interest rates from 2.88% p.a.
- Convenient online application with SingPass for quicker application
- Up to 5 years loan tenure
- Waiver of processing fees (for all tenure)
- Instant approval + cash disbursement if application submitted between 8am to 9pm using UOB current/savings account
- As low as $20 monthly repayments*
- Low minimum loan amount from $10,000
*Amount based on approved $1,000 loan at 2.88% p.a. interest for 60 months tenure
Cons ❌
Check Out Our Review Of UOB Personal Loan In This Article!
Eligibility Requirements for UOB Personal Loan
| Eligibility Criteria | Requirements |
|---|---|
| Citizenship status | Singapore citizens and PRs |
| Minimum age | 21 years and above |
| Customer status | Existing UOB credit card or CashPlus customer |
| Minimum annual income | $30,000 |
| SingPass compatible? | Yes ✅ |
Unfortunately, the UOB Personal Loan is only eligible for Singapore Citizens or Permanent Residents (PRs), aged 21 and above. It is not available to foreigners. While the minimum $30,000 annual income requirement is fairly standard in the industry, Singaporeans and PRs earning lower annual salaries will be disadvantaged and be ineligible for this loan. In addition, you must be an existing UOB Credit Card/CashPlus customer to apply for this loan.
UOB Personal Loan Interest Rates & Fees
UOB is among the handful of banks which do not charge any processing fees or initial annual fees. But how does the UOB Personal Loan fare against other bank loan options like Standard Chartered CashOne Personal Loan and CIMB Personal Loan?
Key factors that we’ll examine include interest rates, minimum annual income, monthly instalments, total amount repayable, and more.
Comparison: UOB Personal Loan vs SCB CashOne Personal Loan vs CIMB Personal Loan
| Loan provider | UOB Personal Loan | SCB CashOne | CIMB Personal Loan |
|---|---|---|---|
| Interest rate | From 2.88% p.a. | From 1.90% p.a. | From 2.68% p.a. |
| Effective interest rate (EIR) | From 5.43% p.a. | From 3.63% p.a. | From 5.06% p.a. |
| Annual fee | None | $199 for Year 1 (None from Year 2 onwards) | None |
| Total interest payable | $288 | $190 | $400 |
| Total amount payable | $10,288 | $10,190 | $10,400 |
| Principal loan amount | $10,000 | $10,000 | $10,000 |
| Monthly payment | $857 | $849 | $867 |
| Minimum annual income | $30,000 | $20,000 | $20,000 |
| Maximum loan tenure | 5 years | 5 years | 5 years |
| Cancellation fee | $150 or 3% of outstanding principal balance, whichever is higher | $150 or 3% of outstanding principal balance, whichever is higher | 1% of undisbursed loan amount |
| Late payment fee | $100 | $100 | $100 |
Based on assumed $10,000 borrowed loan amount over a 1-year tenure
When compared to other bank loans, objectively speaking, the UOB Personal Loan certainly charges a higher interest rate from 2.88% p.a. (EIR from 5.43% p.a.). However, it does come with instant approval and loan disbursement as long as you apply between 8am to 9pm with a current UOB savings/current account. Moreover, if you’re an existing UOB credit card or CashPlus holder already, no further documents are needed.
How to Apply for the UOB Personal Loan?
After you’ve ascertained that you meet the relevant requirements to apply for the UOB Personal Loan, follow these steps to kickstart your application:
Apply via MoneySmart’s UOB Personal Loan page
You may begin your application clicking on the UOB Personal Loan Apply Now button.
If you choose to apply online via SingPass MyInfo, UOB will pull your identity and income data from SingPass (which is already verified), thus cutting short the processing time. The approval-in-principle page will appear within minutes of submitting your MyInfo.
Provide all documentation required
Existing UOB credit card or CashPlus, new-to-UOB credit card, and new-to-UOB CashPlus customers are welcomed to apply for the UOB Personal Loan. Simply ensure that all accounts and particulars (including income) are up-to-date.
Hence, as an existing customer, no further documents will be needed.
Select your monthly repayment plan
Decide on your required amount before picking the suitable plan and also pick your preferred UOB or non-UOB bank account to receive your funds, or provide the details of your other bank accounts.
Review and confirm details
After completing the application form, you will likely be directed to a review and confirm page.
Carefully review all the information you have entered throughout the application process. This includes:
Bank account details which you have to ensure that the chosen bank account number for receiving the loan funds you've provided is correct.
Receive your cash disbursement quickly
The cash loan amount should be disbursed to your designated savings account upon successful approval.
Frequently Asked Questions about UOB Personal Loan
Are there any fees if I take up the UOB Personal Loan?
- UOB does not charge any annual fee or processing fees.
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 are not eligible for this loan at the moment. If I’m late for my monthly instalment, how much do I have to pay?
- The late payment fee for UOB Personal Loan ranges varies, depending on where it’s taken from.
If taking the loan from your UOB credit card’s existing limit, the late payment fee will be $100.
If taking the loan from UOB CashPlus, which is a credit line, the late payment fee will be $120.
Note: Finance (or overdraft) charges are accrued daily until full monthly instalment payment is received. All charges accrued will be posted even if the outstanding amount has been cleared. 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.
Note: Funds for UOB Personal Loan cannot be disbursed to your UOB credit facilities (e.g. UOB credit card, UOB CashPlus account). Why did I receive a lower loan amount than requested on my application?
- Approved loan amounts are subjected to UOB’s review and can be adjusted lower than initially requested. So do manage expectations accordingly.
I am an existing UOB credit cardholder, will taking the UOB Personal Loan affect the credit limit of my card?
- Yes, UOB Personal Loan offers the option to draw from either your existing UOB credit card limit or from their credit line, CashPlus.
Hence, taking the loan using your existing credit card limit will directly reduce its available limit. Keep in mind, missed or late instalment payments can also penalise your credit score as a result. Are there any charges if I cancel my UOB Personal Loan tenure?
- Yes, if deciding to cancel your UOB Personal Loan, a cancellation fee of $150 or 3% of your loan’s outstanding balance applies.