Introducing the UOB Personal Loan

The UOB Personal Loan stands out in Singapore for its low headline interest rates starting at 1.38% p.a. (EIR from 2.65%). Tenure choices run from 1 to 5 years. From now until 31 January 2026, applicants can receive up to 2% cash rebate if they take a loan of S$15,000 or more over a period of three to five years. Remarkably, there are no processing fees across all tenors, and monthly repayments can be as low as S$20, making this an accessible and cost-effective option for managing bigger expenses or emergencies.

Step-by-Step Application Guide

Applying for the UOB Personal Loan is straightforward. First, ensure you’re a Singapore citizen or PR aged 21-65 with annual income of at least S$30,000, and an active UOB Credit Card or CashPlus account. Next, gather your personal details—no income documents are required for existing customers. Complete the online application form with your loan amount and preferred tenor, review your indicative interest rate and EIR, and submit your request. Most applications feature instant approval, and upon approval, funds are promptly disbursed.

Main Advantages

The UOB Personal Loan shines for its competitive interest rates, especially for those consolidating higher-rate debts or funding major expenses. The additional 2% cash rebate for qualifying loans further improves overall value. Instant approval and quick access to funds create peace of mind, and the complete waiver of processing fees means more of your money goes towards your financial priorities. Flexible repayment tenures and the ability to estimate repayments with their online loan calculator add further convenience for applicants.

Main Drawbacks

While the UOB Personal Loan has strong positives, it is only available to existing UOB Credit Card or CashPlus customers, limiting eligibility. The lowest rates are offered only to customers with strong credit profiles; actual rates may be significantly above the headline rates based on the borrower’s creditworthiness and other variables. Early repayment or cancellation incurs a fee of S$150 or 3% of the outstanding balance, whichever is higher, so applicants should plan their loan duration carefully to avoid unexpected costs.

Our Verdict

UOB Personal Loan offers an appealing mix of low interest, fast approval, and meaningful cash rebates for eligible borrowers. Its main strengths lie in affordability, immediate fund access, and transparent fee structure. However, as eligibility is limited to existing clients, and individual rates may vary, it best serves those who already bank with UOB looking to meet specific medium-term financing needs. Overall, it’s a solid choice for qualified borrowers seeking convenience and value.