Frequently Asked Questions

If you do not need the loan to be disbursed within 24 hours, you can either mail the application form to United Overseas Bank Ltd, UOB Personal Loan, Robinson Road P.O. Box 1688, Singapore 903338, drop the form at any of the other UOB branches (apart from the 11 listed above) or fax the application form to the "Application Processing Department" at 6352 8795. The processing time for the non-24 hour option will take approximately eight business days.

Note:
1.	24-hour approval is only applicable if your annual income is S$30,000 and above. Completed application form and all necessary documents have to be submitted to the Bank before 11am on a business day. The loan will be disbursed before 11am on the next business day (Saturday, Sunday, and public holiday are not considered business days).
2.	The crediting account has to be an existing UOB Personal Savings or Current Account. The UOB account cannot be an Overdraft I-Account or a third party's account. If a UOB joint account is stipulated, the signing condition of the joint account must allow you to operate the account singly. The same UOB account will also be the repayment account for the loan.

No, it does not have to be a UOB Account. However, if your crediting bank account is a UOB Personal Savings or Current Account, your loan can be processed and disbursed within 24-hours (subject to the conditions in Q4).

The maximum loan amount that can be granted to you is up to two times your monthly income or S$200,000, whichever is lower.

One-time 3% on approved loan amount if your annual income is in the range of S$20,000 to S$29,000.
One-time 4% on approved loan amount if your annual income is above S$30,000.

Eg.
Loan approved = S$4,000
4% Processing fee = S$160
Net loan amount = S$3,840

The interest is charged on the principal amount outstanding monthly. Since the principal amount of the loan reduces with monthly repayment on the loan, the interest amounts also lowers, as it is charged as a percentage of the reduced principal amount.

For example if you have taken up a S$2,000 loan over a 12-month tenor,

Loan Amount:	S$2,000
Net loan disbursed	S$1,920
4% Processing Fee	S$80
Tenor	12 months
Interest Rate	9.99% p.a.
Monthly instalment	S$175.82

The Bank will send out an SMS to your mobile phone number as indicated in your Personal Loan application form to inform you of your application status (this applies to both approved and rejected applications).

Upon loan approval, you will receive the following documents:
- Mail One: Approval Letter
- Mail Two consisting of the following:
  - Disbursement Advice (to inform you of the monthly instalment amount, and the payment due date)
  - Terms and Conditions for UOB Personal Loan
  - Interbank Giro application form (if crediting bank account is a non-UOB account)
  - Yes, apart from sending the text message/SMS, the bank will send you a letter to inform you the status.
  - Both the monthly repayment amount and the payment due date will be indicated in the Disbursement Advice that will be sent to you after your loan is approved. The payment due date will be the same every month. If the payment due date falls on a Sunday or a Public Holiday, the funds will be debited on the next business day.
  United Overseas Bank Ltd
  Credit Processing- Consumer A/Cs
  1 Tampines Central 1
  #03-01 UOB Tampines Centre
  Singapore 529539
  - If your monthly instalment that is due is not received by the payment due date, a late fee of S$60 and late payment interest of 24% per annum, subject to a minimum of S$20 (if your annual income is S$20,000 – S$29,999) or a late fee of S$60 and a late payment interest of 4% per annum over the interest rate applicable to your loan (if your annual income is above S$30,000) will be charged to your loan account.
  If your annual income is in the range of S$20,000 to S$29,999, please note that restructuring or early redemption of your UOB Personal Loan is not allowed.