UOB Personal Loan review

UOB Personal Loan: Fast, Reliable, and Fair

UOB’s competitive personal loan is understandably one of Singapore’s best choices with its competitive interest rates. The loan works well for house and vehicle down payment, especially if you’re already a UOB customer.


If you’re already a UOB CashPlus customer or UOB Credit Card owner, you won’t need to go through hoops to accomplish your loan application. Just log into your UOB iBanking Account or App, click on UOB personal loan applications, and you’re all set. The bank will send you an email about your loan application’s confirmation, and you can see its progress conveniently through iBanking. 

Upon approval, the cash immediately disburses in your account.

You can borrow up to 95% of your total CashPlus or credit card limit.

  • Instant Cash Release: Get your financing in your CashPlus account once your application receives approval
  • Convenient MyInfo Loan Application: If you’re a new customer, the MyInfo loan interface makes it easy to use your SingPass details to apply for financing (more instructions below this review)
  • 1-5-Year Loan Tenure


Loan products have their shortcomings depending on the customer’s circumstances. For the UOB Personal Loan, you might not feel like owning a CashPlus account or credit card from the bank. UOB requires it from all applicants. Plus, if you’re a foreign borrower, you’re automatically ineligible for their financing.

UOB’s Personal Loan has a notoriously higher effective interest rate (EIR) than other banks (which you’ll see below). The bank endorses that it provides a 4.25% interest rate. On the other hand, its EIR is at 8%. DBS and POSB Personal Loans have the same EIR

  • Higher Than Regular EIR at 8%
  • UOB CashPlus Account or UOB Credit Card Needed
  • Not Open to Foreigners


Loan Features

Learn more about the convenience of UOB Personal Loans. You will need to enroll for a UOB CashPlus or Credit card, but you’ll receive the following pluses below. If you’re a new customer, you’ll have an easy time using SingPass MyInfo, which guarantees loan application results by the next day. Allow us to share more details to help you make an informed decision.

1. Easy Loan Approval for New UOB Customers via MyInfo

SingPass MyInfo makes it easy to apply for commercial and government services because it has enough information as a legal identification card. For UOB, SingPass MyInfo is enough for their UOB Personal Loans. Once you visit the UOB Personal Loan application website, you’ll find a MyInfo link asking you to log into your account. Then, you can click the UOB Personal Loan application link and get started on your loan application.

2. Cashback Up To $600

Both new and existing customers applying for a $30,000 personal loan with a 36-60-month loan tenure can receive up to S $600 cashback from their financing. This is more than enough to recoup their savings. As of writing, this promo is available up to 31 March 2021 only. While UOB Personal Loan is here to stay, this promo cashback might get replacement offers in the future, so stay tuned!

3. Loan Up to 95% Of Your Available Credit Limit

With UOB Personal Loans, you can loan almost the maximum of your credit limit. The minimum loan amount is at S $1,000. Truthfully, it might turn off some borrowers because a  $10,000 credit limit can be too small for down payments. However, those with excellent CashPlus and credit card standing will find it an excellent solution for buying appliances, properties, and more.

4. Instant Cash

You can think of UOB Personal Loan as the best alternative to the fast loan release financial institution can give you. It’s instant cash with friendly terms, such as having an installment option with nominal yearly interest rates. If you’ve been a UOB credit card user for a while, struggling with monthly interest rates can be challenging to budget.

5. Works Best For UOB Credit Card or CashPlus Customers

If you’re an already-existing UOB Credit Card or CashPlus user, the hassle-free application and immediate loan disbursement are the UOB Personal Loan’s major pros. A single click is all you’ll need to submit your loan application. You won’t have to submit any documented requirements. New customers can conveniently apply for a credit card or CashPlus account using the document-less and dedicated MyInfo application portal.

6. Interest Rates and Other Fees

UOB’s Personal Loan offers one of the most competitive but possibly inflated interest rates in the industry. Here are rates and other fees you should know about:

  • Interest Rate: 4.25% (EIR 7.96-8%)
  • Processing Fee: 1% of the total loan amount
  • Cancellation Fee: S $150 or 3% of your outstanding loan amount, whichever is higher

How Does UOB Personal Loan Contend Against Other Banks?

Learn more about how UOB Personal Loan compares against other offers from Singapore’s best banks in this handy table.

  Maximum Loan Amount Interest Rate Loan Tenure
UOB Personal Loan Up to 95% of your credit limit on CashPlus/UOB Credit Card 4.25% (EIR 7.96%) 1-5 Years
HSBC Personal Loan S $200,000 3.4% (EIR 6.5%) 7 Years
DBS Personal Loan 10x your monthly salary 3.88% (EIR 7.9%) 5 Years
HL Bank Personal Loan 4x your monthly salary 3.88% (EIR 8.32%) 1-5 Years
POSB Personal Loan 10x your monthly salary 3.88% (EIR 7.9%) 5 Years

Who Can Apply?

Any Singaporean or permanent resident (PR) can apply for a UOB Personal Loan. However, UOB Credit Card and CashPlus users have the shortest route to a loan application and loan disbursement. To apply for a UOB Personal Loan, you’ll need to be eligible. We’ve provided a handy eligibility list below.


  • Aged 21-60 Years Old
  • Existing UOB Credit Card Owners and CashPlus Account Holders
  • Singaporeans and Permanent Residents Only
  • Has a Minimum Annual Income of S $30,000


UOB only needs your SingPass information to submit your loan application. The bank will not ask you for additional documents. However, you will need to apply for a UOB Credit Card or CashPlus account, which has their respective annual fees and miscellaneous costs. On the other hand, once your loan application receives approval, it will disburse to your existing account immediately.

How Easy Is it To Apply For UOB Personal Loan?

Truthfully, the UOB Personal Loan is one of the easiest financial products to use. Just follow the steps we’ve listed below.

  • Locate UOB’s Personal Loan Page: This page will redirect you to your SingPass MyInfo Login Portal. This link is secure, ensuring that your delicate data goes straight to the bank’s qualified credit investigators.
  • Click Links That Direct You To My Info
  • Singpass: In your Singpass login, you can sign in and permit UOB Personal Loan’s page to access and share your information, jumpstarting your loan application process.

Make Sure to Arm Yourself With The Right Info Before Submitting Applications!

UOB Personal Loan is just one of the best financing options available for Singaporeans and PRs. If you’re a foreign borrower, you can find products greatly suitable for your needs. At Instant Loan, you can use our advanced search algorithms and professional reviewer’s opinions to find the perfect financial product just for you. Then, you can get up to three high-value quotes from our list of trusty fast cash release financial institutions. Visit our website, read our content, and join our newsletter today to remain updated on the best financing options available.

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